Dead coins refer to cryptocurrencies that bring no value or zero value to their holder. They have been abandoned because of various reasons. It has been exposed to scams or used in illegal activities.
How to identify a Dead Coin?
- The website is down.
- Wallet issues are common.
- It doesn’t have nodes.
- The coin is abandoned by developers.
- The coin is delisted.
There are primarily three types of dead coins, namely joke, scam, and abandoned. Joke dead coins are just there with no purpose, though it seeks investment. Scam dead coins are associated with the fraud. Abandoned dead coins are the most common form of dead coins. Due to limited funding and loss of traction, it is delisted from the exchange.