Shitcoins

Shitcoins are basically coins with no value (not even up to half a cent most times). In the crypto investment world, opportunist take these coins as a way to make fast money because they tend to yield faster when there’s a high purchase in their market and these coins are easily controlled by the big whales because it drops as soon as they withdraw their investment.

Shitcoins

As earlier described, shitcoins are coins little values, there are many of them and a common example is the dogecoin we all appreciate now, Dogecoin used to be a shitcoin with little value about a year ago but now it’s a valuable coin that everyone is willing to invest in.

Based on stats gotten from coinmarketcap, dogecoin started off as 0.0002 and the current price is 0.2569. That’s over 10000% profit and this type of interest explains how much you can earn by trading shitcoins. Even though this profit were made between 5years but there are shitcoins that yield faster within days or weeks you earn over 2000% of your capital. Example is the $eben token, lately investors have been having a great time in the crypto world and giving testimonies on this particular coin, it has risen beyond 500% increase in 7days and there is more to come and achieve from this particular coin, another coin is the pandainu wallet token (PWT) even though it has fall back to almost where it started but there was over 1000% increase in the month of august, I am part of those that gained from the coin before I pulled out my investments.

Wins

Like I said shitcoins are mostly influenced by the crypto whales, those that have enough capital to buy almost have of the total coin distributed when it was at its lowest price or when it started kicking, something like this affected coins like AIR and PANDAINU WALLET TOKEN last month, now $air has crashed and the owner had to create another contact address for the new air that is expected to yield soon, so basically you can win in shitcoins and also lose while investing.

Loss

I’ve encountered losses twice ever since I knew about shitcoins but I can say I’ve earned more than what I lost, in the business world people see losses as a lesson because they believe that you learn while you lose even though it can hurt bad sometimes but when doing a business, always have it in mind that there will be too many losses while you’re trying to make money especially if you’re just starting. Back to my discussion, so there are two ways in which you can lose in shitcoins;

1.Through dip

2.By investing in the wrong coin/ Contact address

1. Through Dip

Like I said earlier that shitcoins can easily by controlled by the influence of big whales, they usually have the highest percent of the coin while it has no value, these people are always active and quick to buy large amount of any coin that have good prospects, anytime they see a good shitcoin, they buy large quantities of the coin and they are ready to sell everything at once when the coin reach its peak at that time, When the market is bullish the shitcoins keep rising, they take advantage of this theorem and acquire large portion of the coin, leaving few for the remaining holders. They are not long term holders so they sell all the coins they’ve acquired when it has no value and take a very large profits by withdrawing. This has a negative effect on the coin itself, it reduces its market value and the coin start to dip. By this way you can lose your money. I lose some money few days ago from something like this.

2.By investing in wrong coins (Fake coins)

There was this time I invested about a 100 dollar in one these shitcoins and I was unable to withdraw my money back, everything got locked and the next day the coin vanished. The funniest thing was that, I had no one to file a dispute to(laughing), no one to complain to, no statutory body and that’s the scary thing about cryptocurrency because there’s no one to be held accountable incase you get scammed. I took my L and moved on. That’s my experience on fake coins but I promise I will never fall for that again in my life.

Closing Chapter

I hope this article is educative enough and I’m able to pass something meaning to the readers. Find more about shitcoins online to know more.

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