Shitcoin – What is it ?
The word shitcoin comes from the English language and consists of two nouns: shit (shit) and coin (coin). Thus, the name itself indicates that these are cryptocurrencies with sometimes very little value, without strong foundations, created spontaneously or for a joke. Often their existence does not have a specific purpose, and the cryptocurrencies themselves do not find a use, beyond just trading. The characteristic of shitcoins is very large price fluctuations both up and down, caused by speculation and artificial pumping of value. After some time, these cryptocurrencies disappear or lose value to zero. This is worth keeping in mind if you are interested in this topic.
What are shitcoins ? List of cryptocurrencies
It is currently difficult to say unequivocally which coins are shitcoins. Many times it depends on the private opinion of the evaluator. Some people call shitcoins such cryptocurrencies like Bitcoin, Litecoin, Ethereum. The source decryption defines shitcoin as any coin other than Bitcoin that the person talking about it does not like.
You can find lists of cryptocurrencies on the web that are referred to as shitcoins, but are they on those lists honestly? It’s hard to say. For example, in the list below you will find DASH, Ethereum, Bitcoin Cash, Tether, Tezos… After thinking about it, I could conclude that the author published this list just to provoke the audience.
Is it worth investing in shitcoins ?
I will not give you much advice here, because I do not give financial advice. I can write conclusions from my own experience and observations. There are so-called shitcoins (now, for example, Safemoon Token or FEG Token), which gain in value even 100-200% per day. A lot of noise is made about them on social media, people are invited to invest and the price goes up. Of course, developers and people who were invited to the so-called private sale at the lowest price earn the most. Yes, an ordinary person can earn 100%, but he can also lose his entire investment if he buys coins at the wrong time, on the very top.