Hello guys,
I hope you guys have had an amazing weekend. Welcome to my blog. A few days ago I published my first post in this community and vowed it wasn’t my last well I’m here today to fulfill that promise. Today I want to talk about penny crypto or shitty coins currencies.
Penny or shitty cryptocurrency is a term you probably have heard of, probably through reading about cryptocurrencies or a friend mentioned it to you. The word penny in a lane man’s language simply means something that is small or has less value. In the crypto space, Penny or shitty cryptocurrency are coins that have their price less than $1.
Unlike Bitcoin, Ethereum, solana, Cadano who have their price as high as $24k these coins are not penny cryptocurrency because their worth is more than $1. But coins and assets like Shiba, Ripple, Zillqa, Chilli and many more. These coins have their prices below the $1 mark hence can be referred to as shitty or penny coins.
You might be wondering why someone would invest in these coins. Investing in penny coins have their perks. For instance with penny cryptocurrencies, you can buy a lot of coins. Say with $50 you can buy about thousands of SHIBA coin. If you use the same $50 to purchase BTC, it wouldn’t even be up to 0.01 BTC.
penny cryptocurrencies have the tens act to rise by a large percentage. An asset can grow twice its initial price within a matter of minutes. Assuming the price of SHIBA was at $0.0006, within a few minutes this price can be double or even tripled to $0.006. And when this happens investors who has bought the coin would have recovered massive profits.
Penny cryptocurrency’s can also serve as a long term investment. Investors can continue buying a penny crypto coin to serve as a source of future gain. So that Incase the price of the asset rises pass $1 or even more he would sell and make profit. Remember when BTC was first launched it was a penny currency but look at it now.
In as much as how penny cryptocurrencies can make you gain massive profits, you can also loss lost of money if you don’t know the right penny coin to buy. There are a lot of scam penny coins out the that sim at stealing the funds of its investors so you need to be very careful when investing in any penny coin.
Penny cryptocurrency can make you rich and can also make you loss money. You need to know more about what you are getting yourself into before you make any serious investment. Please not this is not a financial advise. I hope you see you next time. Feel free to leave your view about the matter. Thank you.
