Ain’t you tired of seeing people becoming millionaires in weeks by buying random meme coins. Have you ever wanted to do this thing yourself?
Cryptocurrencies are a wild topic nowadays, and shitcoins are a super famous type of cryptocurrency, people have become millionaires by simply buying random shitcoins.
Today I’m going to absolutely expose what are shitcoins? how do they work, and is it possible to become a millionaire with these dog and cat themed coins.
Also, at the end of the article I’m going to conclude that, what you should do if not buy shitcoins.
The technical term shitcoin, means any cryptocurrency that doesn’t hold any value or has a very low value that can go to 0 at any time. The best examples are Shiba inu, baby dog, moonlight etc.
The hype around shitcoins have been exploding in popularity in the recent times, especially around YouTube and TikTok you would see many so-called guru’s flexing about how they became millionaires by buying a small amount of Shiba or some other shitcoin.
There are many new tokens and coins being made daily, many many people have got scammed with these shitcoins. A lot of people have made a lot of money, but that’s made in a very sketch way. Some people may enter the pump at the correct time and exit before the dump.
The reason behind why shitcoins prices can move so much is, that smaller cryptocurrencies that have a very low value can get the craziest price movements. If we compare them to a established cryptocurrency like bitcoin, bitcoin is way more stable than shitcoins. Shitcoins can double or go to 0 in a week!
Most of the shitcoins are Ponzi schemes to scam a lot of people’s money. This is usually done with the help of social media. The team of scammers will widespread the idea of buying a particular coin.
Then when people will buy the coins, it will pump the price, then the scammers on the top will sell all their coins, as they would make profit from this pump.
But all the other people who were caught in their trap will loose their money, thus meaning only the people on the top, the people who run this shitcoin business made money in this period of time.
This is exactly the definition of a pyramid schemethey will ask other people to invest in their coins, but only the people on the top will make money; all others will lose money.
Now the real question comes that is it possible to become a millionaire from shitcoins, so the simple answer to this question is that yes it is possible to become a millionaire from shitcoins, and a lot of people have actually got super rich due to shitcoins. But is it that simple?
Trading shitcoins is like entering in at the correct time and exiting before the dump begins. But what we start to realize is that there is no difference between gambling and shitcoins. Some people even make money from roulette or slot machinesbut others would become broke when they go to a casino.
With Gambling, you can either become a millionaire or become a broke ass.
Some people buy these coins before listingbut that sound’s very sketchy, and you most probably shouldn’t do that kind of thing, it’s better to just do regular crypto trading with some established cryptocurrencies.
Now trading bitcoin is not gamblingbecause it is a very established cryptocurrency and technical analysis makes a lot more sense for bitcoin than for shitcoins.
Trade some established trusted cryptocurrencies Instead, it makes a lot more sense to trade real cryptocurrencies than these scammy shitcoins. Many people worldwide also become millionaires from trading bitcoin, but in a much more reliable way than shitcoins.
Also the potential you would have would be way more greater with these. In the long term You would always be at a profit, especially nowadays that the recession is going on, the price is going to dump for some time but pump after some years.
But investing is not a kid’s play it’s a skill that you can acquire over time. A beginner may not be able to make the same amount as a professional who is trading for years.
Check this article out in which I showed you an exchange that offers you to trade crypto for free!
So after this article you would now have a clear understanding about shitcoins, thus meaning you won’t get scammed by all these so called pyramid schemes. Be scam aware.
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