Dead coins refer to digital currencies that are no longer tradable and have lost value. These coins are usually worth less than $1,000 within the past three months and have offline official websites. There are currently over 1600 dead coins, and the number increases as new cryptocurrencies enter the market.
Dead coins are digital assets from projects that have been abandoned, scams, low liquidity, insufficient funding, and other reasons. You can find dead coins in your Binance wallet area by clicking “View All Balances” or by searching for your wallet’s public address. However, it can be disappointing for long-time crypto users to watch their Moonshot coins disappear.
What makes a coin “dead”?
A coin is considered dead if it’s no longer tradable, has offline official websites, and is worth less than $1,000 within the past three months.
How can I find dead coins?
You can find dead coins by clicking “View All Balances” in your Binance wallet or by searching for your wallet’s public address.
Why do dead coins exist?
Dead coins exist because of abandoned projects, scams, low liquidity, insufficient funding, and other reasons that cause digital currencies to lose value.
The Bottom Line
Dead coins may seem insignificant, but they are a reminder of the risks involved in the cryptocurrency market. Knowing how to spot a dead coin and manage your investments wisely can help mitigate these risks.