20+ Best Shitcoins To Buy Right Now – What Is A Shitcoin?

Investing in cryptocurrencies has been a trendy topic for the past few years. Many investors have profited from investing in well-known cryptocurrencies like Bitcoin and Ethereum. It might be challenging to decide where to put your money to get the best returns, though, as more and more new cryptocurrencies enter the market. You do not have to panic as our guide on how to buy cryptocurrency safely will help you make an informed decision. 

Meanwhile, while there are a lot of high-quality cryptocurrencies out there, there are also a lot of low-quality coins, commonly referred to as “shitcoins,” that are only available to defraud investors. Some investors still find potential in some shitcoins and think they could eventually provide sizable returns despite their bad reputation.

Nevertheless, we are not saying shitcoins are bad investments as they could sometimes yield good returns. Therefore, this guide will equip you with the best shitcoins you can rely on to grow your wealth.

Best Shitcoins To Invest In 2024 – Full Review

Despite the tremendous risk associated with buying shitcoins, those ready to take a chance could stand to gain greatly. Many investors are pondering which shitcoins will grow in value and which will likely disappear in 2024. Next, we will look at the best shitcoins to buy right now.

Pepe Unchained (PEPU) – Trending Shitcoin With a Pepe-Themed Concept

With the cryptocurrency market experiencing significant fluctuations, savvy investors are constantly on the lookout for promising new projects. Pepe Unchained ($PEPU), the latest sensation in the meme coin space, might just be the next big thing.

Pepe Unchained is an innovative Layer-2 solution built on the Ethereum network. Unlike the original Pepe Coin ($PEPE), which has already seen explosive growth and now ranks among the top cryptocurrencies by market cap, Pepe Unchained aims to address the scalability and efficiency issues that have hindered its predecessor. This new iteration promises faster transactions and lower fees, thanks to its advanced Layer-2 technology, making it an attractive option for traders seeking better performance and profitability.

Currently in its presale phase, Pepe Unchained has already raised a substantial amount, demonstrating strong investor interest. At a presale price of just $0.008 per token, $PEPU offers a compelling entry point for early adopters. Additionally, the presale comes with generous staking rewards, offering up to 65,000% APY, which incentivizes long-term holding and participation.

The narrative behind Pepe Unchained is as engaging as its technological advancements. It builds on the iconic Pepe meme, enhancing the community-driven appeal that has been crucial to the success of other meme coins. The project’s roadmap and robust tokenomics further solidify its potential for sustainable growth, with 20% of tokens allocated to presale and 30% dedicated to staking rewards.

Pepe Unchained’s advanced technology, strong community backing, and lucrative presale incentives make it a standout option in the crowded meme coin market.

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Flockerz (FLOCK) – Short-Term Shitcoin with Possible Long Term Value

One of the best shitcoins to participate in this year, Flockerz, has the potential to gain significant traction in the market. While it may not show much utility now, its long-term perks include a decentralized autonomous organization (DAO), which could attract more people to the ecosystem, stabilizing it and making it a success within the meme coin niche.

Flockerz, with its flock of propeller-hat-wearing hens as a mascot, appears to be a standard meme coin at first glance, but its humor has captivated many investors. Inside jokes related to the project are already spreading on social media, adding to its appeal.

The key reason this shitcoin may have long-term potential lies in its DAO, which could eventually transform it into something more substantial.

With these prospects, Flockerz has already made waves across the crypto community, raising funds quickly. It’s likely that the presale will conclude before the last month of this year, and the token could rise due to a listing pump.

Long-term investors should also take note of its DAO, which comes with a Vote-to-Earn (V2E) mechanic that rewards stakers who cast their votes. This feature could make Flockerz a formidable cryptocurrency investment in the long run.

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FreeDum Fighters – Shitcoin With a Politics-Themed Concept

FreeDum Fighters positions itself as a novel entry in the crypto market, particularly characterized by its DUM token. The project enjoys and exhibits many traits associated with speculative investments, often colloquially referred to as shitcoins- all while also boasting features and actual utility.

The core concept of FreeDum Fighters revolves around two fictional characters, Kamacop and Magatron, which serve as satirical representations of political figures. While the project’s branding is creative, the underlying value proposition lacks the solid utility typically sought in cryptocurrencies. Participants can stake their DUM tokens by choosing a character, with potential rewards hinging on the popularity of each figure within the community. This reliance on community sentiment introduces significant volatility, raising concerns about the long-term viability of such a model.

Furthermore, the platform offers a point-based reward system that incentivizes engagement through debates and discussions. While this gamified approach aims to foster community interaction, it can often feel superficial, prioritizing entertainment over substantive investment opportunities. Airdrops and rewards may appear appealing, but the absence of a robust utility framework leaves investors vulnerable to fluctuations driven by market whims rather than intrinsic value.

Despite undergoing audits by Coinsult and SolidProof, which aim to provide a level of security, the speculative nature of FreeDum Fighters cannot be overlooked. However, for those looking to invest in a shitcoin that could potentially pump significantly, FreeDum Fighters could definitely be a top pick right now.

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Best Wallet Token – Presale Shitcoin With a Wallet-Based Usecase

Best Wallet Token (BEST) might initially give the impression of being another community-driven “shitcoin” due to its presale format, but it defies expectations with its solid utility and real growth potential. While many community-led presales often lack substance, BEST is backed by the well-established Best Wallet platform, which supports over 60 blockchains and provides a range of tools for digital asset management and Web3. This strong foundation sets it apart from traditional meme coins and positions it as a token with significant value.

What truly distinguishes BEST is its utility within the Best Wallet ecosystem. By holding BEST, users enjoy reduced transaction fees, making trades and transfers more cost-effective—a particularly valuable feature for active crypto users. The token also grants early access to presales through the wallet’s aggregator, allowing holders to participate in promising projects ahead of the public market. Additionally, staking BEST provides competitive APY rewards, creating an opportunity for passive income while supporting the platform’s growth.

The exclusive presale, open only to Best Wallet users until December, gives early adopters a chance to secure the token at a foundational price. This limited access ensures that the initial distribution is focused on the platform’s existing community, creating a sense of trust and loyalty among early supporters. For those who join during this phase, the potential for future gains is amplified as the token transitions to the public market with increased visibility.

BEST is redefining what a community-led token can achieve. With its practical benefits, connection to an established platform, and potential for significant growth, it’s proving that not all “shitcoins” are created equal.

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Crypto All-Stars – Memecoin Presale With a Strong Staking Utility

Crypto All-Stars grabs attention with its eye-catching design, featuring a diverse array of popular memecoin mascots like Dogecoin, Shiba Inu, Floki Inu, Pepe, and Coq Inu. This playful yet strategic integration draws in fans of these tokens, creating an immediate connection with various memecoin communities.

While it might be classified as a “shitcoin,” Crypto All-Stars distinguishes itself through its functional utility. The project offers a unique staking mechanism through its MemeVault, where users can stake well-known memecoins to earn rewards in STARS, the native token. Additionally, staking STARS tokens themselves yields rewards that are three times higher than those earned through the MemeVault. This dual-layer staking model provides investors with substantial earning opportunities, adding a layer of practicality to its seemingly whimsical nature.

The project’s credibility is reinforced by its completion of audits from SolidProof and Coinsult, ensuring that it meets high-security standards and enhancing investor trust. These audits underscore Crypto All-Stars’ commitment to transparency and reliability, which are critical for its growth.

The convergence of popular memecoin mascots within the Crypto All-Stars ecosystem not only broadens its appeal but also sets the stage for significant value appreciation. As the project continues to gain traction and integrate these well-recognized icons, it’s poised to experience a notable surge in value over the coming months.

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Shiba Shootout (SHIBASHOOT) – Popular Presale Project With Multiple Utility Elements

When discussing shitcoins, one often thinks of memes and the lack of associated utility. However, Shiba Shootout breaks this mold by creatively integrating meme appeal with a smart utility component. Referencing the Shiba Inu project, it aims to establish a P2E ecosystem packed with features designed to generate income for participants simply by engaging actively in the project.

The project is set to launch its first game soon, enhancing community involvement through token governance and creating a more community-centric initiative. Additional features include the Lucky Lasso Lottery program, where Shiba Shootout tokens can be used to potentially win substantial crypto prizes, with a portion of these winnings supporting charitable initiatives. Referral bonuses also incentivize bringing friends into the project.

With staking and other functionalities complementing its exciting Wild West theme, Shiba Shootout has gained popularity across the space as a high-potential initiative. At the time of writing, the project’s presale has already raised over $500k and is poised to reach its total target amount, potentially leading to exciting exchange listings and announcements that could further boost the token’s growth. With strong social media support and potential collaborations in progress as hinted by the developers, Shiba Shootout could indeed become a noteworthy addition to the list of shitcoins to watch this season.

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Pepe (PEPE) – Attractive Redistribution System

PEPE is an Ethereum-based deflationary meme coin. The digital currency was developed as an homage to Matt Furie’s Pepe the Frog online meme, which rose to fame in the early 2000s.

The project seeks to become one of the leading meme-based cryptocurrencies by leveraging the popularity of meme-based coins like Shiba Inu and Dogecoin. Also, the PEPE roadmap consists of three parts, with phase one involving CoinMarketCap listing and phase two involving listing on centralized exchanges (CEXs). Phase three involves listings on “tier 1” exchanges and what the company calls a “meme takeover.”

Another distinctive feature of PEPE is the redistribution system, which rewards long-term stakes and encourages users to hold the token for an extended time. The project aims to promote holder benefits and increase the likelihood of long-term success. PEPE’s burning mechanism and no-tax policy further emphasize its distinctive nature, with the project striving to maintain limited supply within the market. 

Shiba Saga (SHIA) – Immersive Gaming Platform

Shiba Saga has emerged as an intriguing project, albeit with the “shitcoin” label. What sets it apart is its focus on creating an immersive gaming platform featuring the beloved Shiba as the main character. This platform offers a collection of world-famous games, each interlinked through an on-chain system that allows users to earn and spend their SHIA tokens across all releases. Notably, any character or collectible (NFT) unlocked in one game will have its counterpart accessible in the others. With this, it is able to enhance the overall gaming experience.

The narrative unfolds as Shiba draws into the ShiaVerse, providing players with an engaging VR experience. Following the release of the first batch of games from the Saga, the team now looks to embark on full-scale production of the ShiaVerse – a VR metaverse where NFTs collected within the Saga games will spring to life.

Key features of the project include NFTs and staking, which have piqued the interest of both players and investors, despite the project’s “shitcoin” status. Investors are anticipating substantial growth for this Shiba-Inu-inspired crypto, making it a contender for inclusion in portfolios seeking tokens with significant growth potential. More so, Shiba Saga, with its innovative approach to gaming and NFTs, presents an exciting opportunity in the crypto space.

1Inch Network (1INCH) – Robust Security And Privacy

Launched in 2019, 1Inch Network is a decentralized exchange aggregator. It is a platform that links many decentralized trading platforms (DEXs) to provide customers with the best Bitcoin trade pricing. Users can obtain the best prices for their trades thanks to the platform’s usage of smart contracts to optimize deals across many DEXs.

The Ethereum-based 1Inch Network provides many functions, such as a wallet, a price aggregator, and a liquidity mechanism. Additionally, it features a native token called 1INCH which serves as a medium for making transaction fees and staking.

One of its defining characteristics is the dedication of 1Inch Network to user security and privacy. The platform uses zero-knowledge proofs and other cutting-edge security mechanisms to guarantee that user data is kept private and secure. Additionally, it provides a decentralized governance architecture that gives token holders a voice in how the project is run.

The platform’s capacity to offer users the highest possible prices for their trades has helped it become incredibly well-known in the decentralized finance (DeFi) community. Users can now access various services through a single platform thanks to its integration with some other DeFi platforms, such as Compound and MakerDAO.

Myro (MYRO) – Solana-Based Memecoin Making Waves

2023 saw the emergence of BONK as a way to put Solana back on the map. This year, however, another memecoin has taken its place. Known as Myro, this memecoin has been inspired by the pet of Raj Gokal, one of the founders of the Solana Foundation.

And like most memecoins that we have covered before, Myro is also a community-driven token. Its main goal is to bring the community together around the Solana blockchain.

That being said, some of its goals are lofty. It not only wants to strengthen the community around the Solana blockchain, but it also seeks to make Solana an attractive asset for institutional investors, customers, as well as whales.

To bring this dream to fruition, Myro is also introducing the Solana BuyBot, the first comprehensive bot by the Solana blockchain on Telegram.

Myro’s performance on the price charts was similar to other tokens we have covered before. Since it is a meme coin, its value jumped before a minor drop. However, it has laid the foundation of some key fundamentals that could push its value higher.

Dogelon Mars (ELON) – Super-Active Community

The cryptocurrency Dogelon Mars (ELON) was introduced in July 2021. It thrives as a community-driven project named after Elon Musk, the CEO of Tesla and SpaceX. He is well-known for his support of cryptocurrencies and space research.

Dogelon Mars is a deflationary coin with a 10% transaction fee. The team behind the project allocated 5% to token holders and the remaining 5% to the liquidity pool. Also, the creators implemented some methods to gradually restrict the token supply.

The focus on technology and space exploration on Dogelon Mars is one of its unique traits. The project aims to raise money for and assist with space-related endeavors, including exploration, research, and colonization. The community is actively debating and selecting new space-related efforts to support. Dogelon Mars has already provided sizeable donations to many space-related charities.

Tamadoge (TAMA) – Virtual Pets

Tamadoge commenced the presale of its native token, TAMA in September 2022. The ecosystem blends NFT trading with virtual pets, where users may buy tokens, follow their growth, and engage in player-versus-player combat. The project’s creators aim to merge ideas from the metaverse, play-to-earn (P2E) blockchain games, and NFTs to become the top meme coin and the “meme king” of the market.

Tamadoge was created for the Tamaverse project, in which users compete for cryptocurrency rewards by creating, purchasing, breeding, caring for, and interacting in every way with pets in the metaverse. Each fictional pet in the metaverse is represented by a non-fungible token that may be purchased, sold, or traded in the NFT shop.

Meanwhile, the platform’s native token, TAMA, powers the network. $TAMA is the currency used in all Tamaverse transactions, including user-to-user and NFT store purchases.

Yearn.Finance (YFI) – Automated Yield Farming Techniques

Yearn.Finance is a decentralized finance (DeFi) platform built on the Ethereum blockchain.  It was introduced in July 2020 by blockchain developer and entrepreneur Andre Cronje. By combining various yield farming methodologies and goods into a single platform, the platform seeks to simplify the DeFi market.

The platform’s native cryptocurrency, YFI, is employed for many purposes, including fees, governance, and staking. Only 30,000 tokens are available for purchase, which adds to the token’s rarity and potential value growth.

One of Yearn.Finance’s standout features is its yield aggregator, which aids investors in identifying the best yield farming techniques across multiple DeFi protocols. The platform also provides vaults and automated yield farming techniques that give customers the most returns with the least work.

Yearn.Finance also offers a governance mechanism that allows token holders to decide on important platform choices like protocol updates and adjustments to fees and bonuses. As a result, token owners have a say in how the platform develops and is headed.

Balancer (BAL) – Reliable Liquidity Provider

Decentralized finance (DeFi) protocol Balancer (BAL), based on Ethereum, was introduced in March 2020. Users can build their bespoke cryptocurrency pools using this liquidity provider, which they can use for trading or as a source of liquidity for other DeFi platforms.

The automatic market maker (AMM) technology, which automatically modifies the pricing and asset distribution of tokens inside a pool based on market demand, is what makes Balancer special. This lessens the need for a centralized exchange to determine prices and ensures that each token in the pool has a fair value.

Users can profit from BAL, the protocol’s native token, and trading transactions in their pools. By employing balancer tokens for platform governance, users can propose and vote on alterations to the platform, such as adjustments to the costs associated with using the protocol.

Due to its distinctive features and versatility in designing custom pools, Balancer has grown in favor of the DeFi industry. Its exposure and use have grown as a result of its integration into a number of other DeFi protocols, including Aave and Curve.

Synthetix (SNX) – Accurate Price Feeds

Synthetix is a DeFi technology that allows the generation of synthetic assets on the Ethereum network. These tokenized representations of real-world assets, known as Synths, are tokenized versions of commodities, cryptocurrencies, and equities.

Meanwhile, the Synthetix protocol employs a native token known as SNX to collateralize the issue of Synths. Holders of SNX tokens can use them as collateral and earn benefits through fees produced by Synth trading on the platform. The Synthetix protocol also uses an Oracle system to offer synthetic asset price feeds.

One of the Synthetix protocol’s unique attributes is allowing users to trade synthetic assets without holding the underlying asset. This allows traders to acquire exposure to a diverse range of assets without really owning or holding them.

Synthetix has grown in popularity in the DeFi area, with considerable usage and trading volume increases. Synthetix’s total value locked (TVL) was more than $10 billion as of May 2023, making it one of the largest DeFi protocols in terms of TVL.

Ankr (ANKR) – Friendly Interface

Ankr is a blockchain-based platform to offer decentralized application (dApp) developers a simple and cost-effective infrastructure. It was started in 2018 and uses the Ethereum network as its foundation. The platform offers a user-friendly interface, various tools, and services to lower entry barriers for developers and businesses wishing to create and deploy dApps.

The major services provided by Ankr include a decentralized cloud computing platform, a market for the creation and distribution of dApps, and a platform for staking cryptocurrencies, making it possible for users to claim rewards for retaining and staking them. To facilitate the development and deployment of dApps, Ankr also provides various developer tools, including an SDK and several APIs.

Ankr’s capacity to deploy nodes on several blockchain networks, including Ethereum, Binance Smart Chain, and Polkadot, is one of its distinctive advantages. This enables developers to deploy their dApps on various networks under their unique demands and specifications.

With collaborations with numerous blockchain projects and key exchanges, like as Binance and Huobi, Ankr has experienced substantial growth in recent years. The native cryptocurrency of the platform, ANKR, is utilized by the platform for transaction fees, staking rewards, and other purposes.

ApeCoin (APE) – Promising Shitcoin

Apecoin was developed by the same team that designed the Bored Ape Yacht Club (BAYC). Notably, BAYC is one of the most expensive NFT collections on the market. With celebrity holders like Justin Bieber, Post Malone, and Madonna, some BAYC NFTs are worth millions of dollars. To break into the Bored Ape ecosystem and have access to all amenities, investors must own ApeCoin. 

APE remains an ERC20 token specifically built for Web3. The native token is fundamental to the growth and success of the Bored Ape and Mutant Ape ecosystem. One of the main purposes of ApeCoin is to push innovation in the gaming world. When it entered the market in March 2022, ApeCoin sold at $6.50 and is at $3.48 currently.

Meanwhile, Apecoin token holders can use APE to purchase products from Amazon, eBay, Walmart, and more via Shopping.io. When making such online purchases, which Coinbase handles, users gain a 2% discount. The market supply of ApeCoin is nine billion, and it has a market cap of approximately $3 billion.

Dogecoin (DOGE) – Unlimited Maximum Supply

Dogecoin (DOGE) was developed in 2013 by programmers Billy Markus and Jackson Palmer. It started as a lighthearted jest based on the Shiba Inu dog’s well-known internet meme, but it has since developed into a genuine digital coin with a market cap in the billions of dollars. Dogecoin’s welcoming, neighborhood-focused culture and its humanitarian endeavors have also contributed to its growth in popularity.

Like Bitcoin and other cryptocurrencies, Dogecoin also runs on a decentralized blockchain network. However, it differs from Bitcoin in some ways, such as a quicker transaction time and a more extensive maximum supply. Dogecoin has an unlimited maximum supply, unlike Bitcoin, which has a fixed maximum inventory of 21 million coins. About 130 billion Dogecoins are currently in circulation, and other coins can be added to the pool through mining.

Elon Musk, the CEO of Tesla, started tweeting about Dogecoin in 2021, and other well-known people and influencers started pushing it on social media. This trend resulted in a sharp rise in demand and price. However, it has subsequently seen significant fluctuation. At a current price of $0.077080, Dogecoin remains a well-known cryptocurrency. Some companies, including Tesla, Microsoft, Twitch, CheapAir, and Newegg, have begun accepting payment in DOGE.

Shiba Inu (SHIB) – Large Maximum Supply

As an ERC-20 coin on the Ethereum blockchain, Shiba Inu (SHIB) became a cryptocurrency in August 2020. It does, however, have its blockchain network, ShibaSwap decentralized exchange (DEX), through which users may trade SHIB and other tokens. The shitcoin took its name after the Shiba Inu, a Japanese dog that serves as the mascot for Dogecoin, another well-known cryptocurrency.

SHIB became well-known in 2021 due to its low cost and ties to the Dogecoin community. It utilizes a Proof-of-Stake consensus mechanism and runs on a decentralized blockchain network to validate transactions and add new blocks.

Shiba Inu has a far larger total quantity of tokens (1 quadrillion) than other digital currencies like Bitcoin and Ethereum. Its designers have burned a large chunk of the available quantity to help boost the value of the still circulating tokens.

The Shiba Inu ecosystem includes tokens like Leash (LEASH) and Bone (BONE). These tokens bring further functionality and use cases inside the ecosystem. Its supportive community and connection to the well-known Dogecoin have contributed to the shitcoin’s rapid rise to fame in the cryptocurrency world.

SafeMoon (SAFEMOON) – Mouth-Watering Holding Rewards

Launched in March 2021, SafeMoon (SAFEMOON) is a shitcoin that runs on the Binance Smart Chain. By imposing a fee on each transaction and transferring a percentage of that fee to existing holders, it seeks to encourage long-term holding.

Additionally, a mechanism known as token burning causes the token’s supply to decline over time, which raises its value as time passes. Every transaction on the SafeMoon network is subject to a 10% charge, of which 5% is given as a reward to current token owners. The remaining 5% is contributed to the liquidity pool, which maintains the token’s price.

Floki Inu (FLOKI) – Creative Marketing Techniques

Floki Inu (FLOKI) is a decentralized cryptocurrency named after Elon Musk’s Shiba Inu dog, Floki. It was introduced in August 2021. Since then, because of its distinctive branding and robust community, it has attracted much interest and popularity in the cryptocurrency industry.

With a predetermined total supply of 1 quadrillion tokens, FLOKI follows a deflationary operation model like many other cryptocurrencies. Additionally, each transaction charge includes an automated liquidity provision that distributes a portion of the cost to current holders. This encourages owners to keep their tokens and aids in preserving the token’s value over time.

FLOKI’s emphasis on philanthropy is one of its distinctive characteristics. A part of the FLOKI community’s earnings will be donated to animal rescue organizations and other animal welfare groups. As a result, a devoted group of followers committed to the token’s success and aiding animals in need has grown.

Additionally, FLOKI has drawn recognition for its creative marketing techniques, which have included viral social media campaigns and even a Times Square billboard. These initiatives have aided in establishing the FLOKI brand and drawing a devoted fan base.

Dork Lord (DORKL) – Fast Rising Cryptocurrency

In the wake of Pepe’s dominance upon its launch, a slew of imitators sought to capture a slice of the burgeoning interest, aiming for a share of the potential returns. Among them, Dork Lord project emerged bearing the “shitcoin” label with no discernible utility. Yet, against the odds, this token found its niche audience, leading to a growing community and a surge in token accumulation.

Remarkably, Dork Lord operates without a defined roadmap or an established team. Instead, it relies on a concept centered around the iconic Pepe frog, imbued with a dark and suspenseful aesthetic. This unique twist has resonated with investors, who anticipate the potential for exceptional returns in the months ahead.

While lacking a formal structure, Dork Lord’s alignment with the Pepe brand has proven advantageous. The token tends to experience a significant surge in price concurrent with PEPE’s performance, suggesting the potential for further upward momentum when market conditions improve.

Currently available on PancakeSwap, Dork Lord presents itself as a great candidate for consideration in cryptocurrency portfolios. Should market dynamics align and the project garner increased popularity, the potential for surprisingly high returns in the ensuing months becomes a tangible possibility.

BitTorrent (BTT) – Growing Demand

Peer-to-peer (P2P) file-sharing protocol BitTorrent was initially introduced in 2004. Dividing up huge files into smaller chunks and distributing them across numerous users in a decentralized network enables users to share enormous files with one another. To encourage users to engage with the network and enable users to pay for premium features on the BitTorrent platform, BitTorrent introduced its cryptocurrency in 2019 under the name BTT.

BTT uses the Delegated Proof of Stake (DPoS) consensus algorithm and runs on the Tron blockchain. As a result, owners of BTT tokens can use them to cast votes for delegates who oversee the network’s transaction validation. The network’s transactions are validated by the top 27 representatives with the most votes, with the remaining delegates acting as backups.

One of BTT’s primary characteristics is its capacity to purchase premium BitTorrent features like faster download rates and more storage space. This gives the token an extra use case and increases demand for it. 

What Are Shitcoins?

Shitcoins are cryptocurrencies perceived to have little or no value or utility. These digital assets came alive as a speedy way for their developers to make money through an initial coin offering (ICO) or any other method without offering an actual product or service.

It is not entirely clear what the origin of the term “shitcoins” is. Some say that “shitcoins” was first used to label new cryptocurrencies with poor qualities or zero purposes. Others say “shitcoins” originated to describe new cryptocurrencies created to scam buyers or carry out fraudulent activities. However, the crypto space believes the term was coined from the crypto world’s frustration with the gain of low-quality cryptos.

Shitcoins frequently lack a defined goal, technological innovation, or a dependable development team, unlike well-known cryptocurrencies like Bitcoin or Ethereum, which enjoy practical use cases. The speculative nature of shitcoins makes them a very risky investment.

How To Invest In Shitcoins?

Since many of these tokens are linked to speculative hype and market manipulation, investing in shitcoins can be a risky and high-reward endeavor. However, it is possible to find viable shitcoins and profit from their expansion with meticulous research and risk management. 

1. Do Your Homework

In the field of cryptocurrencies, the saying “do your research” you must perform due diligence before investing in any specific coin or project.

When someone advises you to “do your research,” they typically mean you should look into several aspects of the cryptocurrency. These aspects include the project’s development team, its whitepaper, its market value and trading volume, its use cases and possible applications, as well as any news or developments related to the project.

You may make better investment choices and avoid dubious or fraudulent projects by conducting your research. Try to read forums and news articles and stay updated on the shitcoin’s development on social media. You can also consult with some reliable authorities in the crypto industry and analyze technical data and charts.

2. Choose A Trustworthy Exchange

You should choose an exchange with good standing among crypto enthusiasts. Examine internet forums, social media, and reviews to learn about other users’ experiences. Ensure the exchange has strong security measures, such as two-factor authentication, cold storage of funds, and insurance against hacking or theft.

To ensure you can purchase and sell your shitcoins swiftly and simply, pick an exchange with high liquidity. Navigating the exchange and placing trades with a user-friendly and straightforward interface can simplify things. 

3. Create An Account

You must provide personal information, like your name, email address, and occasionally official identity. To help safeguard your account from unauthorized entry, selecting a strong password when creating an account is crucial, and enabling two-factor authentication is also important.

Before they can begin trading, several shitcoin exchanges demand that users complete a Know Your Customer (KYC) process. This entails proving your identification and supplying details like your residence and financial background. Many regulatory authorities require KYC because it aids in the prevention of fraud and money laundering.

4. Fund Your Account

After creating an account, you must deposit money to begin trading. Your trading account on the exchange usually needs to be linked to a means of payment, such as a bank account, credit card, or digital wallet, to be funded. Once your payment method has been established, you can deposit money into your account using fiat money or other cryptocurrencies.

https://youtu.be/GdWNUfhSBeg?si=aFu-2M0PPKvYd56L

Once your account has been filled, you can use the money to buy shitcoins on the exchange. You might be able to purchase and sell shitcoins using market orders, limit orders, or other trades, depending on the exchange and the coin you are interested in. Most platforms accept deposits in fiat money like USD or EUR, Ethereum, and Bitcoin.

5. Buy the Shitcoin

The theory behind shitcoin trading is that by cheaply purchasing less popular, lesser-known cryptocurrencies, investors may earn substantial profits if the coin’s value rises. After putting money into your wallet, you can make an order to purchase the shitcoin at the going rate or a predetermined price. Remember that the value of shitcoins might fluctuate greatly, so be ready for jarring price changes and possible losses.

6. Securely Store Your Shitcoin

After purchasing your shitcoin, it’s critical to do so in a secure digital wallet or on an exchange. A hardware wallet, like a Ledger or Trezor device, is one way to keep your shitcoins safe. These wallets keep your private keys offline, thereby increasing their security against hacking attempts. Another choice is to save your shitcoins on your laptop or smartphone using a software wallet like MyEtherWallet or Exodus.

Regardless of your wallet type, adhering to security best practices, like using reliable passwords and turning on two-factor verification, is critical. Additionally, you should frequently back up your private keys or seed phrase in a secure area and keep your wallet software current.

Tips On How To Invest In Shitcoins

• Be Aware Of Risks

Investing in shitcoins can be pretty dangerous because many of these projects lack a track record of success, have a small market size, and are susceptible to fraud or hacking. Ensure you know the hazards and only invest money you can afford to lose. Risks associated with investing in shitcoins include high volatility, lack of liquidity, fraud and scams, etc.

• Diversify Your Portfolio

Spreading your investments over many assets or categories reduces the chance of losses. Diversification can reduce possible losses in the context of shitcoin investment if one shitcoin performs badly or the whole market faces a downturn.

Invest in various marketplaces to spread risk because exchanges might provide different shitcoins for trade. Think about investing little amounts over time rather than a large sum simultaneously. This can lessen the danger of investing at a high price and assist in leveling out market volatility. Reviewing your holdings and making any necessary adjustments as the market shifts is crucial. This can entail adding new coins to your portfolio or eliminating underperforming shitcoins.

• Beware Of Scams

When buying shitcoins or any other digital asset, it’s essential to be aware of cryptocurrency scams because they are regrettably rather prevalent. Common crypto scams include fake ICOs, Ponzi schemes, phishing scams, fake exchanges and wallets, and pump-and-dump schemes.

• Keep Up With News And Developments

The cryptocurrency market is extremely volatile and subject to quick changes, so it’s crucial to do so. Follow reliable news and analytical sources, and be ready to modify your investment strategy as necessary. You can also join crypto communities and attend events and conferences. It can be helpful to follow well-known cryptocurrency influencers and experts on social media to gain insight into the market and current trends.

• Consider Long-term Potential

Though shitcoins may be appealing as a short-term investment, it’s crucial to consider the project and its technology’s long-term potential. Search for initiatives with a capable development team, an understandable roadmap, and a passionate community.

You should think about the market and how the project compares to other initiatives of a similar nature. Look for projects that offer a unique selling point or go above and beyond what the competition does to solve an issue.

• Watch Out For Warning Signs

When considering investing in shitcoins, there are some warning signs to be aware of. A few of these are a shady or mysterious development team, a large supply without a burn mechanism, exaggerated marketing claims, or pump-and-dump tactics.

Conclusion

Investing in digital currencies, especially shitcoins, is dangerous due to their volatility and the possibility of market manipulation. However, if you are ready to take the risk, there are some intriguing shitcoins that could create big profits in the future. The top 20 shitcoins to purchase in 2024 feature many projects, including meme tokens such Pepe Unchained, SafeMoon, and many more.

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