What you need to know about cryptocurrency and shitcoins

 *MAJOR CRYPTOCURRENCY TRADING TERMS WITH THEIR MEANING*

 Today in this article I will bring you some major crypto currency terms and there meaning in the crypto world.

 As a crypto currency beginners you need to know the meaning of all those words since the crypto expert has no time to be explaining such words but if you already know the meaning then. you'll kindly join it where ever you see it.

*List of 23 crypto currency words/terms and there meaning*

ALTCOIN = Any crypto currency other than bitcoin. 

ASHDRAKED = A situation where you lost all your money. 

BAGHOLDER = A person who buys and hold coins in large quantity hoping to make good profits in the future. 

BEAR/BEARISH = Negative price movement

 

BTFD = Buy The Fucking Dip (an indication to buy a coin when it has dumped so hard) 

OTC = Over The Counter 

PUMP = Upward price movement 

SAJ CANDLE = Huge green candle 

SHITCOIN = A coin with no potential value ywty

SHORT = Margin bear position

SWING = Zig zag price movement (Upwards and downwards) 

TA = Technical Analysis 

REKT = When you have a bad loss 

REVERSE INDICATOR = Someone who is  wrong predicting price movements. 

RSI = Relative Strength Index 

WHALE = Very Wealthy trader/Market mover 

BULL/BULLISH = Positive price movement 

DILDO = Long green red candles 

DUMP = To Sell off a coin 

DUMPING = Downward price movement 

DYOR = Do Your Own Research 

FA = Fundamental Analysis 

JOMO = Joy Of Missing Out

LONG = Margin bull position

MCAP = Market Capitalization 

MOON = Continuous upward movement of price

FOMO = Fear Of Missing Out (A coin is pumping and you get the feeling it's gonna pump more, so you buy high) 

FUD = Fear Uncertainty & Doubt 

HODL = Hold/Hold a position

*What Is Cryptocurrency?*for

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, *rendering them theoretically immune to government interference or manipulation.*

*~KEYWORDS TAKEAWAYS~*

A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the *Control of governments and central authorities.*

The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network.

Blockchains, which are organizational methods for ensuring the integrity of transactional data, are an essential component of many cryptocurrencies.

Many experts believe that blockchain and related technology will disrupt many industries, including finance and law. 

Cryptocurrencies face criticism for a number of reasons, including their use for illegal activities, exchange rate volatility, and vulnerabilities of the infrastructure underlying them. However, they also have been praised for their portability, divisibility, inflation resistance, and transparency.

*Understanding Cryptocurrencies*

👇👇

Cryptocurrencies are systems that allow for secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions.

*Types of Cryptocurrency*

The first blockchain-based cryptocurrency was Bitcoin, which still remains the most popular and most valuable. Today, there are thousands of alternate cryptocurrencies with various functions and specifications. Some of these are clones or forks of Bitcoin, while others are new currencies that were built from scratch.

Bitcoin was launched in 2009 by an individual or group known by the pseudonym "Satoshi Nakamoto."1 As of March 2021, there were over 18.6 million bitcoins in circulation with a total market cap of around $927 billion.

Some of the competing cryptocurrencies spawned by Bitcoin’s success, known as "altcoins," include Litecoin, Peercoin, and Namecoin, as well as Ethereum, Cardano, and EOS etc. Today, the aggregate value of all the cryptocurrencies in existence is over $1.5 trillion—Bitcoin currently represents more than 60% of the total value

*Important;*

Some of the cryptography used in cryptocurrency today was originally developed for military applications. At one point, the government wanted to put controls on cryptography similar to the legal restrictions on weapons, but the right for civilians to use cryptography was secured on grounds of freedom of speech.

*Advantages and Disadvantages of Cryptocurrency*

Advantages

Cryptocurrencies hold the promise of making it easier to transfer funds directly between two parties, without the need for a trusted third party like a bank or credit card company. These transfers are instead secured by the use of public keys and private keys and different forms of incentive systems, like Proof of Work or Proof of Stake.

In modern cryptocurrency systems, a user's "wallet," or account address, has a public key, while the private key is known only to the owner and is used to sign transactions. Fund transfers are completed with minimal processing fees, allowing users to avoid the steep fees charged by banks and financial institutions for wire transfe

Disadvantages 

The semi-anonymous nature of cryptocurrency transactions makes them well-suited for a host of illegal activities, such as money laundering and tax evasion. However, cryptocurrency advocates often highly value their anonymity, citing benefits of privacy like protection for whistleblowers or activists living under repressive governments. Some cryptocurrencies are more private than others.

Bitcoin, for instance, is a relatively poor choice for conducting illegal business online, since the forensic analysis of the Bitcoin blockchain has helped authorities arrest and prosecute criminals. More privacy-oriented coins do exist, however, such as Dash, Monero, or ZCash, and all the shitcoins, which are far more difficult to trace

Special Considerations

Central to the appeal and functionality of Bitcoin and other cryptocurrencies is blockchain technology, which is used to keep an online ledger of all the transactions that have ever been conducted, thus providing a data structure for this ledger that is quite secure and is shared and agreed upon by the entire network of an individual node, or computer maintaining a copy of the ledger. Every new block generated must be verified by each node before being confirmed, making it almost impossible to forge transaction histories.

Criticism of Cryptocurrency 

Since market prices for cryptocurrencies are based on supply and demand, the rate at which a cryptocurrency can be exchanged for another currency can fluctuate widely, since the design of many cryptocurrencies ensures a high degree of scarcity.

How Does Cryptocurrency Make Money?

Cryptocurrencies allow for secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system. Investors can make money with cryptocurrency by mining cryptocurrency, or simply buying and selling their cryptocurrency (Bitcoins,altcoins and shitcoins) at a profit.

*What is a Shitcoin and which coins are labeled as such?*

*What is a shitcoin?*

A shitcoin is a cryptocurrency that, according to one’s subjective opinion, is a bad investment choice. The term is also used to describe coins that do not serve a particular purpose.

*Why do people refer to certain cryptocurrencies as shitcoins?*

There is no particular reason for the creation of this acronym. As conversations in forums and in social media tend to keep wordings relatively short, it would potentially take a long time to write that a coin “is a bad investment”, hence you will invest the cryptocurrency coins for longer periods of time,(like 2 to 3yrs).  For that reason, crypto-investors (especially beginners) gradually formed the term by connecting the words “shit” and “coin”.

*How do I recognize a shitcoin?*

While the market tends to be turbulent in nature and all coins go through cycles, one can discover the true nature of a coin by looking into undelivered promises, lack of usability or functionality and the purpose the coin is trying to serve.

*Where to buy shitcoins?*

Shitcoins, which in their grand majority are simply small-cap altcoins, can be purchased from traders that trades on several big cryptocurrency exchanges.

Of course, as aforementioned, shitcoins are always subjective, and it’s thus impossible to give specific guidelines as to which platform you can use to obtain them (if this is your goal).

A rule of thumb is to look from platforms that are specifically designed for traders who like to swing trade cryptocurrency, or rather stick to a trader/miner with trust.

*Best practices for buying shitcoins*

Before you go ahead and purchase cryptocurrencies that are relatively unknown or hated by the community, conduct in-depth research to better understand its short and long term potential. Then, after you feel confident that a particular coin could increase in price, start by investing a small amount of money. Just make sure you have clearly identified your goals and remain emotionally unattached to the coin.

Observe the market for a while and determine whether your initial speculation was correct,you keep them and wait for a potential appreciation in their price.

If the price starts to increase, it’s best to take profits or at least you initial amount out and keep riding the uptrend. Conversely, and if you are fully aware of the terms, you could also invest a larger amount when a clear signal indicates a buying opportunity.

Finally, as mentioned above, always remember to control your emotions. Small-capped coins are often seen as opportunities due to their low price. As such, many people create unrealistic expectations and end up losing a lot more than they invest.

As a beginner, always ask questions and guidance from the right channels before engaging in anything.

There are numerous types of shitcoins, but your vicinity and crypto exposure will determine the lists you will have.

Few listings below and their costs....

*SHITCOINS UPDATED LIST (few to mention)

👉🏽  Freecoin 1M coins

👉🏽 SafeMoon 1M coins

👉🏽 SafeMoon 500k coins

👉🏽 SafeMoon 100k coins

👉🏽 Feg Token 10M coins

👉🏽 MoonRat(Mrat) 10Mcoins

👉🏽 Safemars 1M coins

👉🏽 SafeBtc 1M coins

👉🏽 Safestar 10M coins

👉🏽 Safebnb 100k coins

👉🏽Pitbull 100M coins

👉🏽 MoonDao 10M coins

👉🏽 Rocketmoon 5M coins

👉🏽 Rocketmoon 10M coins

👉🏽 Elongate 1M coins

👉🏽 Elongate 2M coins

👉🏽Vancat 20M coins

👉🏽 Vancat 10M coins

👉🏽 NftArt 10M coins

👉🏽 Safetesla 10Mcoins and many more to be updated soon

👉🏽 *Here’s my link*

https://wa.me/2347068316274

‼️ *List to be updated as price can change anytime* 

⭕️ *That's why you should Always ask me for current price before you pay*