Crypto Recommendation

Three Cryptos to Stay Far, Far Away From

Three Cryptos to Stay Far, Far Away From
By Vin Narayanan
Date March 16, 2023

It’s tough being a crypto investor. Unlike stock market investors or even startup investors, crypto investors typically have to deal with significant information deficits. There simply isn’t as much information about many of the coins out there. What information there is requires a significant amount of effort to access. Sifting through Telegram, Discord, GitHub and the internet for scraps of information is laborious at best. 

Even worse is the fact that crypto’s volatility combined with the sheer number of bad projects out there means even small missteps can wipe out even the most informed investor. So what you don’t invest in is almost as important as what you do invest in.

With that in mind, this month’s recommendation is a set of coins not to invest in. Staying away from these coins doesn’t mean you’ll be a successful crypto investor. You might even miss out on some quick scores. But if you avoid these projects, you’re more likely to avoid the big mistakes that can wipe out an entire portfolio. And in crypto, that’s no small thing.


Dogecoin isn’t a serious crypto project. In fact, it was meant to be a joke. Adam Sharp wrote about Dogecoin’s backstory here — including his own personal connection with it. Dogecoin is essentially a poor facsimile of bitcoin without the developer community, security or technical advantages that bitcoin enjoys. The only reason Dogecoin has any significant value is because Elon Musk occasionally tweets about it. And that is not the foundation of a good crypto project. As tempting as Dogecoin’s price action might be, I would stay away from it. 

Shiba Inu

Like Dogecoin, Shiba Inu started as a meme coin before people inexplicably started taking it seriously. Shiba Inu is an Ethereum-based token with a cute dog (a shiba inu, of course) for a logo. It’s been labeled the “Dogecoin killer.” That’s pretty much all you need to know. Its purpose is to take down a joke coin. Another way to look at it is an Ethereum-based Dogecoin. Outside of a cute dog (and I’m a sucker for cute dogs), it doesn’t have much going for it. No thank you.


In theory, I should have an affinity for Tron. It was a good movie. It was an even better video game. But I just can’t get behind the coin or the project. From its ICO (initial coin offering) to its founder desperately trying to stay one step ahead of authorities, Tron has always had too much legal and regulatory risk associated with it. It’s been on my “do not buy” list for years. Additionally, nothing in Tron’s trading history suggests the project is a good investment. It hit its all-time high of $0.17 in 2018. And it hasn’t sniffed that price since then. I’d definitely stay away from it.

There you have it — three coins I believe you should never invest in. Of course, what you invest in is ultimately up to you. You have to make the right decision for you. But at least you have some additional data points to consider now.

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