What Are Shitcoins

What Are Shitcoins

In this blog today I wanted to cover something that I've been seeing a lot of news around and attention surrounding it. That is exactly what everyone calls it shitcoins. These type of cryptos are called shitcoin for one reason and on reason only. That's the fact that they are useless worthless and are overhyped and most likely scams. That's what makes them so shitty and have earned these cryptos the special unique name of shitcoins. Now I'm going to go over the coins to look out for that are scams some that are just plan useless and overhyped along with what to look out for when investing into crypto so that you don't invest into a shitcoin. Lets now get into the article.             

Why Shitcoins even exist

So to understand shitcoins we need to first understand why they were even made. Many attempt to become meme coins such as the likes of coins like dogecoin or shiba inu. But most don't live up to the hype that those crypto coins have. They end up as failures and flop and loose people money who were invested into them. The second reason they are created is to scam people. Some coins don't have good intentions like meme coins or other cryptos. These type of scams are just rip offs of other coins or are just a whole other type of scam of there own creation. These coins intents are to get you to pump them full of money then they will sell the crypto out as most of the time the creators have the majority of the supply of these coins in these scenarios. 

Signs of a Shitcoin

Now I'm going to give you some tips you can use to watch out for shitcoins you might possibly invest into. Now if a coin gets crazy growth and it doesn't have a utility or a well know trusted authentic community no matter how much the price goes up on a shit coin just remember it's most likely a pump dump scheme and the crazy growth is attributed to this very scheme. This type of scheme most closely represents a pyramid scheme as the more people that buy add value to it. You might say though that's how cryptocurrency works and your not wrong but your also not right. Giving the coin some sort of utility or feature people want can also adds value to a crypto. Besides that another key feature to look out for is a roadmap. Now most shitcoins will draw up some shit roadmap that can be some what believable to make the coin look more like an actual coin. They might use words that seem like they actually seem important for you to invest into them like staking, burning, or some other big words to trick you. They might also not go into great detail about there road map unlike other legit cryptos. They might be vague and brief about each topic of there roadmap. Not providing a whole lot of details but just the bare minimum is usually a sign of a shitcoin.   

Another is the community surrounding the cryptocurrency. If all the community does is make jokes about the cryptocurrency and try super hard to make it into a meme coin then you know that it's a con scheme. This shows the community is trying really hard to make it into a meme. Where as regular meme coins just become meme coins through out time and attention being brought upon it from folks outside the community. One last key red flag to look out for is not knowing who the developers are.  If you don't know whos making the coin then that should automatically be a red flag because most of the time they plan on ripping you off or scheming you and taking your money without anyone knowing so they face no backlash. Even if you do know the creators and developers and if they don't say they aren't working for profit then that's also another red flag. the only time they should be allowed to work for profit is when the coin is big developed and the community along with the developers are dedicated to the cryptocurrency.       

Shitcoins To Look Out For

Now we're gonna go over the cryptos that you should look out for when investing so you don't make the wrong choice. No matter how appealing it looks you still shouldn't invest into them because in the long-term its not going to work out so well as it would have just investing into altcoins or bitcoin. Coins you need to look out for are any clear doge rip offs so coins like baby doge. But also coins that try to be a sexual joke also never work out like milf coin or  AssPennies. But don't forget about the bitcoin ripps off as well coins such as bitgold, Bitcoin2, or Bitcoin2.0. Any coin attempting to be bitcoin that isn't already established like bitcoin cash or bitcoin gold shouldn't be trusted. They are just trying to live off of the bitcoin hype. Most of these cryptos are trying to cash in on the cryptocurrency hyped there's been the last couple of months. That's why so many have shown up the last couple of months in the news or media. Be careful when investing make sure to do your own research before investing and one lest thing never trust what a social media influencer or celerity says about a certain crypto they only have there intentions and goals in mind and just want you to pump them full of money so they can sell.      

My Final Words   

If you enjoyed the blog leave a like and share it with somebody. Leave me some feedback with your comments to let me know how I did. Let me know what you liked and what you didn't so I can improve the blog. All your likes and comments are deeply appreciated. Follow the blog to stay up to date along with my socials also make sure to check out my website where you can put in a submission form to let me know what topics you want me to cover. Thanks for reading hope you enjoyed.  

Follow My Instagram

Link To My Website