The cryptocurrency market is a vast and ever-changing landscape. Thousands of coins and tokens are available, each with unique features and potential. Two of the most common terms to describe cryptocurrencies are “bluechip coins” and “shitcoins.” Bluechip coins are typically more established and reliable, while shitcoins ( a gen-z term) are often more speculative and risky. This blog post will discuss the key differences between the two categories of cryptocurrencies.
What are Bluechip Coins?
Bluechip coins are a type of cryptocurrency that is considered more safe as an investment because it has been around for a while. These coins usually have a good track record, a big market value, and a strong community.
Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are some of the most well-known blue chip coins. All of these coins are pretty old and have been used for a long time. They also have big market capitalizations, which makes them easy to buy and sell.
What are Shitcoins?
Shitcoins are a type of cryptocurrency that are thought to be more risk-prone and speculative. Most of the time, these coins have a short history, a small market capitalization, and a group that isn’t well-established.
Dogecoin, Shiba Inu, and Safemoon are all well-known shitcoins. These coins are fairly new and have been volatile in the past. They are ideally a result of news piece or a famous personality promoting it, and also have small market capitalizations, which makes them harder to sell and less liquid.
Key differences between Bluechip coins and Shitcoins
There are several key differences between Bluechip coins and Shitcoins. These differences include:
- Track record: Bluechip coins typically have a longer track record than shitcoins. This means they have been around for longer and had more time to prove themselves.
- Market capitalization: Bluechip coins typically have a larger market capitalization than shitcoins. This means that they are more liquid and easier to trade.
- Community: Bluechip coins typically have a larger and more established community than shitcoins. This means there is more support for these coins, and they are less likely to be abandoned.
- Risk: Bluechip coins are typically seen as less risky than shitcoins. This is because they have a longer track record, a larger market capitalization, and a more established community.
Tips for Investors
If you are considering investing in cryptocurrencies, it is imperative to understand the difference between blue chip coins and shitcoins. Bluechip coins are typically considered more reliable investments, while shitcoins are more speculative and risky.
Here are some tips for investors who are looking to invest in the crypto market:
- Do your research: Before you invest in any cryptocurrency, it is important to do your research. This includes understanding the project’s goals, the team behind it, and the risks involved.
- Start small: If you are new to the crypto market, starting small is a good idea. This will help you to minimize your risk if you make a mistake. Our Thematic Investment Plan is perfect for you.
- Diversify your portfolio: Don’t put all your money in one crypto. Consider diversifying your portfolio by investing in a variety of different cryptocurrencies to appropriately hedge your portfolio.
- Be patient: The crypto market is notoriously volatile and unpredictable. It is important to be patient and not panic sell if the market is downturned.
Bluechip coins and shitcoins are two different types of cryptocurrencies. Bluechip coins are typically considered more reliable investments, while shitcoins are more speculative and risky. Bluechip coins may be a better option for investors who are looking for a more reliable investment, while shitcoins may be a better option for investors who are looking for more speculative investment. Ultimately, the best way to decide which type of coin is right for you is to research and understand your risk tolerance.