Many times we hear about the best shitcoin to buy that may have a great future, either because of their name or because of the team behind it. But it happens that some cryptos are neither on Coinbase nor on trading platforms like Binance. You would like to invest in these currencies but you cannot, and when you do it may be too late. And there are thousands of users who buy these cryptos long before it goes public on large platforms. Some of these cryptos (most) are called shitcoins, which although they are useless, can double in value in a short time and make you earn a lot of money.
Best Shitcoin To Buy: All You Need To Know Before Buying!
What is Shitcoin?
The term “Shitcoin” is a pejorative name given to cryptocurrencies that have projects that do not seem very supported from the start.
They are high-level speculative currencies and at a technological level, they can be as good as other established ones or a model smart contract issued in five minutes. The range is as wide as the number of existing currencies.
One expert who is a technology entrepreneur, defines “Shitcoin” as assets “that do not have a value, are not understood as a real project behind, a strong and solid team, a community and a goal.” Essentially, he says that “Shitcoin” are currencies that users usually buy simply because they go up in price, not because it is a real project”
If an investor buys them for a dollar and they appreciate twice or more, this draws attention and incentivizes beginners to enter the crypto ecosystem. Not for everyone, experts recommend allocating no more than 10% of the portfolio to “shitcoins”, since they are high-risk assets as all the invested capital may be lost, since they could be worth zero.
Some can relate this investment to the “dot-com” crisis of 2001, in which there was madness for the Internet and for all the companies related to the network: they went public but no one knew what they were or if there was really a company behind it.
So is “Shitcoin” an empty shed? Well, there are certain precautions that must be taken before acquiring these digital currencies, they must meet a series of requirements:
- The team behind the project must have a person in charge
- The cryptocurrency must have social networks (Reddit, Twitter, Youtube, Discord, Telegram) to communicate with the community
- It has to offer an official website where you can read the “White Paper” (a document that specifies project objectives, starting point, and plan)
This leads to other aspects to consider before a disbursement: does it add value to the ecosystem? What problem does it solve? These are questions professionals ask themselves before committing to a project.
The biggest drawback that can occur when investing in these cryptocurrencies is the lack of future liquidity, and one can end up losing the possibility of going back in the trade. Basically, you can lose everything invested.
Experts recommend not allocating more than 10% of the crypto portfolio to shitcoins in a short-term strategy.
How to choose the best shitcoin to buy:
When deciding which shitcoin to buy, take into account not only the price but also the value of the technology developed. So, each token has a team of people behind it: you have to see who makes it up, the team’s experience, what objectives they set for the project, and whether they will meet such goals within 2, 5, or 10 years.
Take a look at if it’s scalable and if it is a useful tool that your computer has the ability to fulfill your targets.
You can also compare what they said they would do to what they did effectively and check how their activities are displayed to the people.
Some experts also advise that, before betting heavily on one of these coins, use the platform it promotes and verify “first hand” if it really offers something new and useful.
No one can say with certainty what the future of a newly released cryptocurrency will be, but by staying informed you will have a better chance of obtaining a positive income.
In addition, some experts agree to diversify the bet and only allocate a small percentage of the total portfolio to digital currencies so as not to be “out of the market” in the event of a large drop.
Where to find the best shitcoin to buy:
Once the necessary precautions have been taken to carry out the purchase, there are several websites where these cryptocurrencies and information about them can be found:
- CoinMarketCap: this website has details, among other things, the capitalization of the crypto, the share it has in the market, and news about new assets.
- Centralized exchanges: CoinBase and Binance allow buying
- BSCScan: No registration required and from here you can find millions of cryptocurrencies with Binance technology, a widely used technology. It allows access to find the contracts to the “ID” of the digital crypto currency in question, data that is relevant to find information on other sites.
- PoopCoin: it offers a kind of TradingView (stock charts) for cryptos. This platform allows you to see the graphs of almost any cryptocurrency. Where it says “Token Address” you must paste the contract of the crypto that you have looked for in BSCScan.
- MetaMask: It is a wallet that allows you to register any type of cryptocurrency, no matter how useless it may be, you only need its contract token, which you can find in BSCScan. IMPORTANT: You need to transfer BNB to MetaMask to buy later. In other words, it is a non-custodial wallet (the user owns their keys) to buy and store tokens, since some, being very new, are not registered on larger platforms.
How can I buy a cryptocurrency that is not on Binance or Coinbase?
PanCakeSwap: No registration required and here you can find any cryptocurrency you want to buy. It is an exchange, like Binance that allows us to exchange cryptos. It allows you to change any crypto from BSC technology although we will use BNB.
So, what is the best shitcoin to buy?
From Floki Inu, a name inspired by Elon Musk’s pet dog named Floki, we bring you the first shitcoin. It isn’t made by Elon as the official website of this company says that supporters of the Shiba Inu made this cryptocurrency.
As per its ranking in the crypto market, Floki Inu stands at position #2792 on CoinMarketCap in November of 2021.
This shitcoin has many upcoming flagship projects, including an education platform called Floki Inuversity, Flokiplaces (merchandise marketplace), and a metaverse NFT gaming Valhalla.
Investing in this specific shitcoin may be riskier than other crypto due to its low liquidity. So why are we bringing it up? For one thing, SafeMoon was in the news due to celebs like Logan Paul and rapper Lil Yachty showing interest.
Its tagline – ‘Safely to the Moon’ – doesn’t show what the company is about but it is actually a DeFi (Decentralized Finance) token launched on 8th March of 2021.
Some people ( CoinMarketCap) call this a good investment as SafeMoon ranks at #207 in the crypto market in addition to having a capitalization capital of more than $1 billion.
Built on the Binance Smart Chain blockchain, this token’s protocol has three functions: liquidity pool acquisition, reflection, and burn.
This cryptocurrency made it on this list for being billed as being the progeny of its father- the Dogecoin.
Known for another clone of Dogecoin, the coin has been prominent as it gained the support of Elon Musk himself and in just 24 hours after his tweet, the cost of the cryptocurrency shot up by 228.3%.
Compared to the original meme coin, you’ll find that this token states to have an improved transaction speed.
Baby DogeCoin is on the list as it witnessed a 1,000% increase in its price just two weeks after its launch in June 2021.