There are various types of coin in cryptocurrency. One of them is a coin with no activity and it also has a fairly low volatility, and therefore is considered to have no value by most investors. That coin is called shitcoin.
A shitcoin is a crypto asset with low market capitalization, but it has a large supply of tokens in the crypto market, so the price will be far cheaper than a crypto asset with large capitalization such as Bitcoin.
Just like MSG, a cheap seasoning from Indonesia, this shitcoin costs only a few dollars, say 0,00000001 dollars, and thus are considered to have zero or no value.
This coin is typically used to refer to a crypto asset that has no discernible purpose or newly launched asset. When in fact, a crypto asset should have clear visions and missions in order for the investors to take notice, not just giving a big profit.
Pros and Cons of Shitcoin
There are pros and cons of shitcoin, such as:
- Low price selling;
- Easily sold in the community;
- It has the potential to provide profit, but not as much as other coins.
- Coin may suddenly disappear;
- It might be a scam;
- Prices may fall dramatically.
In the year of 2022, it is predicted that there are some shitcoins with potential, like:
SafeMoon, which was released in March 2021, has become one of the shitcoins with the most rapid growth in the world. SafeMoon classifies itself as a decentralized (DeFI) token and it was created with three functions, which are burn, liquidity, and reflection.
The shitcoin that is inspired by Dogecoin was released in July 2021. Similar to SafeMoon, BabyDoge experienced a significant price increase. It can increase by over 100%.
Just like other shitcoins, Floki Inu also experienced price increase. In its first launch in August last year, the price of this shitcoin was only 0,00001 dollars. However, it becomes 0,00001079 dollars in 2022.
The shitcoin that was launched in April 2021 was developed in order to support NFT, decentralized exchanges, and so on. When it was first launched, this shitcoin was only 0,0000000001 dollars, but now it becomes 0,000000000503 dollars.
Beside those shitcoins mentioned above, there are other shitcoins with potential in 2022, such as Shiba Inu, Doge Coin, Saitama Coin, Hoge Finance, Metahero, Kadena, and more.
How to Buy Shitcoins
Buying shitcoins is very easy. There is this application for investment called Nanovest which provides facilities to buy shitcoins. So, how to buy it? Let’s find out!
- Download Nanovest application on Play Store or AppStore;
- Next, input your mobile phone number and verify it. If you have referral code, just input it and you will get free NanoByte;
- Then, make unique ID in form of #nanoTag and your account will be active;
- After that, open Nanovest application, click the letter C that is located on the bottom right of the application;
- Choose “Exploring Crypto” and in the category section, click “Memes & Memes”;
- After it is opened, you can directly click on any shitcoin and then buy it.
Just like in choosing cryptocurrency, there are several things you have to take into account before buying shitcoins, such as updating recent information, comparing the coins in crypto market, checking coins that have fundamental values, making sure the coins are cheap, and so on.