List of Dead Crypto Coins to Steer Clear From

Key Takeaways

• Hundreds of crypto coins become abandoned or die every day as a result of failed developments or funding, which are very important to the success of a crypto coin.

• Some of these crypto coins that became dead did so mostly because they were created as some sort of joke and not necessarily to be taken seriously as a means of investment.

• Crypto coins belonging to the shit coin category are coins with little to no value, which is why investors need to be very careful and do proper research before venturing to invest in any coin.

 • According to Coinospy, there are well over 2000 crypto coins that have been classified as dead with some still yet to even be discovered.

In this article, we shall be taking a look at a list of dead crypto coins you should steer clear of as well as the reasons behind their “dead status”.

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What are Dead Crypto Coins?

Dead crypto coins are digital assets that have been abandoned by their creators for various reasons, such as low funding, scams, poor development, etc.

These coins are usually found among the category of coins called “Shit Coins” as they usually make lofty promises to investors, only for investors to see them lose their values entirely after a given period.

Websites such as Coinospy and Deadcoin.info track dead crypto coins in the crypto space, and investors can also make use of this opportunity to report dead coins to the sites and, in turn, earn money for doing so.

How to Tell if a Crypto Coin is Dead

When it comes to crypto coins, there are usually several ways to tell if a coin is dead or not. Some of the ways to do so are shown below:

Crypto Coins that are Scams

Crypto coins that are scams or that smell like one are often the ones that offer lofty promises to investors. Most times, these coins give off signs that investors find too good to be true, which oftentimes it is.

For some investors who lack experience, they may then decide to invest in them, and before they realize it, their investments evaporate into thin air.

For reference, it was estimated that 80% of all 2017 initial coin offerings (ICOs) were indeed scams.

Negligible Trading Volumes

Sometimes, certain crypto coins have the potential to make it, but they could be unlucky to be faced with low trading volumes due to a lack of listings on popular exchanges and even inferior liquidity.

These low trading volumes occur because investors have little to no interest in the crypto coins and sometimes because of no utility, causing the crypto coins to become abandoned.

It has even been estimated that six out of ten coins with negligible volumes are no longer supported by their developers and that a crypto coin is considered dead when it no longer has up to $1000 in trading volumes within three months.

Crypto Coins Made as a Joke

Some crypto-coins were created without any plans or intentions in mind. These crypto coins were just created as a joke and have no real value whatsoever, although sometimes they can flatter to deceive by gaining attention and interest at first.

Some investors may even decide to invest in them, believing them to have real value at first, but at the end of the day, most of these coins do not make it to the list of successful coins.

Low to No Funding

An essential part of crypto projects is funding, which is very important if that crypto project is to achieve most of the goals it has set out.

Crypto coins that do not have the necessary funding are simply because they do not offer the needed profit margin or they do not seem to be lucrative enough to drive the interest of investors.

List of Dead Crypto Coins

Note: This list is not exhaustive as there are over 1000 dead crypto coins in the crypto market. You can always check out other dead coins on Coinospy to learn more.

How to avoid crypto coins that may end up becoming dead coins

Avoiding crypto coins with the potential for becoming dead coins can be done by simply doing due diligence and research.

Always ensure that you know the motive behind the existence of any crypto coin you want to invest in and also check out their whitepapers, as this is where they often outline their plans and roadmaps.

Of course, a crypto coin that does not have a whitepaper should already be a serious red flag for you, which you should completely avoid.

Also, crypto coins that promise absurd ROIs should be carefully looked at as that is a red flag, particularly because cryptocurrencies are highly volatile and speculative, and as such, lofty promises are always too good to be true.

The existence of social media and the contributions and tips of crypto experts on these social platforms should also prove useful to you in determining the future of a crypto coin if it has potential or if it is just a dead coin waiting to happen.

Frequently Asked Questions (FAQs)

Are crypto coins dying?

Crypto coins are not necessarily dying, just that some coins tend to die due to lack of viability or for some other reason. As of May 2021, over 2,000 cryptocurrencies have failed, and a lot more failures are yet to be discovered.

How many crypto coins have failed?

As of May 24, 2021, over 2,047 cryptocurrencies have failed, according to Coinopsy, which tracks such failures. That is a significantly large number of dead coins, even when compared to the 10,025 cryptocurrencies that have been in existence so far.

Final Thoughts

Dead coins abound all over the crypto space, which is why it is important to always be vigilant when it comes to newly existing crypto coins.

Always endeavor to find out as much information as you can about whatever crypto coin you wish to invest in so that you do not end up incurring heavy losses in the end.