{"id":1376,"date":"2022-10-16T09:23:11","date_gmt":"2022-10-16T09:23:11","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=1376"},"modified":"2023-04-03T07:42:06","modified_gmt":"2023-04-03T07:42:06","slug":"three-cryptocurrencies-that-have-failed-and-why","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/three-cryptocurrencies-that-have-failed-and-why","title":{"rendered":"Three Cryptocurrencies That Have Failed and Why"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/three-cryptocurrencies-that-have-failed-and-why\/#Cryptocurrencies_That_Failed\" title=\"Cryptocurrencies That Failed\">Cryptocurrencies That Failed<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/three-cryptocurrencies-that-have-failed-and-why\/#OneCoin\" title=\"OneCoin\">OneCoin<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/three-cryptocurrencies-that-have-failed-and-why\/#BoringCoin\" title=\"BoringCoin\">BoringCoin<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/digitalcoinprice.com\/blog\/three-cryptocurrencies-that-have-failed-and-why\/#BitConnect\" title=\"BitConnect\">BitConnect<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/digitalcoinprice.com\/blog\/three-cryptocurrencies-that-have-failed-and-why\/#Why_Did_Cryptos_Fail\" title=\"Why Did Cryptos Fail?\">Why Did Cryptos Fail?<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">The financial sector has changed to the point of no return. Back in 2009, the very first digital currency, <\/span><a href=\"https:\/\/digitalcoinprice.com\/forecast\/bitcoin\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\">, came into the scene. Thanks to its novel technology, it didn\u2019t take long until the market value of Bitcoin blew up, gaining even more attention from people all over the world. Bitcoin led to the creation of thousands of cryptos, projects, and social movements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now it\u2019s without a doubt that cryptocurrencies have a bright future ahead of them. There are even discussions pointing out the potential of crypto in replacing fiat currencies, and many <\/span><a href=\"https:\/\/bitcoin-profit.app\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">platforms like Bitcoin Profit app<\/span><\/a><span style=\"font-weight: 400;\"> aim to help traders connect with a broker in order to tame that wild potential.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, we should not forget about some cryptocurrency failures and the questions they raised.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrencies_That_Failed\"><\/span><strong>Cryptocurrencies That Failed<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are thousands of cryptocurrencies out there, but it has been recorded that around 1,900 projects have failed. While that simply shows how fierce the competition is in the cryptocurrency market, at the same time, such stories inspire industries to innovate on their technologies and stay ahead of the competition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While mistakes are part of the game, let\u2019s should focus on the worst cryptos that have failed us as users. From brutal scams to joke coins, here are three digital currencies that have failed badly:<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"OneCoin\"><\/span><strong>OneCoin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">OneCoin was launched back in 2014; it was one of the first crypto frauds that set foot in the investment market. The founder of the technology, Ruja Ignatova, or <\/span><a href=\"https:\/\/www.bbc.com\/news\/technology-61966824\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">the self-named CryptoQueen<\/span><\/a><span style=\"font-weight: 400;\">, used to host events to attract investors into buying the asset, claiming that OneCoin was going to become the real Bitcoin killer. However, it didn\u2019t take long until millions of investors were deceived into what turned out to be a Ponzi scheme worth more than 4 billion dollars.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1377 size-full\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/scam-7046018_1920.jpg\" alt=\"\" width=\"1920\" height=\"1440\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/scam-7046018_1920.jpg 1920w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/scam-7046018_1920-300x225.jpg 300w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/scam-7046018_1920-1024x768.jpg 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/scam-7046018_1920-768x576.jpg 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/scam-7046018_1920-1536x1152.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"BoringCoin\"><\/span><strong>BoringCoin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">BoringCoin, launched back in 2014, was introduced with the promise of no hype, drama or pumps and dumps &#8211; nothing that could impede BoringCoin\u2019s popularity. However, similar to over 90% of the joke or meme coins that had come out, <\/span><a href=\"https:\/\/www.fool.com\/the-ascent\/cryptocurrency\/articles\/5-cryptocurrencies-that-have-failed-and-why\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BoringCoin<\/span><\/a><span style=\"font-weight: 400;\"> did not survive the year &#8211; it was considered a dead coin due to its lack of purpose.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"BitConnect\"><\/span><strong>BitConnect<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The third one on our list is <\/span><a href=\"https:\/\/www.justice.gov\/usao-sdca\/pr\/director-and-promoter-bitconnect-pleads-guilty-global-2-billion-cryptocurrency-scheme\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BitConnect or BCC<\/span><\/a><span style=\"font-weight: 400;\">. BitConnect is one of the most notorious coins in the history of crypto. It was one of the best-performing coins in 2016, only to turn into\u2026 nothing. Note that the marketing for BitConnect was quite aggressive, promising investors returns of up to 1% per day, along with other incentives and bonuses, which were bogus.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_Did_Cryptos_Fail\"><\/span>Why Did Cryptos Fail?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When cryptocurrency issues are discussed, the main headlines are typically around the success of alternative coins. Oftentimes, we come across news or price predictions about <\/span><a href=\"https:\/\/digitalcoinprice.com\/forecast\"><span style=\"font-weight: 400;\">the most profitable digital currencies<\/span><\/a><span style=\"font-weight: 400;\"> in the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite crypto\u2019s bright and illustrious future, there are also the ones that stick to the shadows and barely survive the cryptocurrency market\u2019s high volatility rate. Note that, in general, cryptocurrencies that barely survive are those that fail due to security issues, unethical behaviour, bad publicity, and unclear development.<\/span><\/p>\n<p><strong>Conclusion<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The cryptocurrency market is extremely competitive, especially now that thousands of unique digital projects are circulating the market. With that in mind, you\u2019ll encounter projects and technologies that pull ahead of their competition while others slowly dwindle down or completely fall off the wagon. That\u2019s why always do your research and consult a licensed professional to help you limit poor choices.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the end, success all comes down to the basics, such as dedication to the community, value proposition, and resilience against targeted attacks. On a positive note, though, the fall of such cryptos paved the way for the best, most reputable, and most rewarding assets on the market &#8211; cryptos you can add to your portfolio with ease!<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1378 size-full\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/cryptocurrency-3412306_1920.jpg\" alt=\"\" width=\"1920\" height=\"1169\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/cryptocurrency-3412306_1920.jpg 1920w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/cryptocurrency-3412306_1920-300x183.jpg 300w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/cryptocurrency-3412306_1920-1024x623.jpg 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/cryptocurrency-3412306_1920-768x468.jpg 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/10\/cryptocurrency-3412306_1920-1536x935.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial sector has changed to the point of no return. Back in 2009, the very first digital currency, Bitcoin, came into the scene. Thanks to its novel technology, it didn\u2019t take long until the market value of Bitcoin blew up, gaining even more attention from people all over the world. Bitcoin led to the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=1376"}],"version-history":[{"count":4,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1376\/revisions"}],"predecessor-version":[{"id":2669,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1376\/revisions\/2669"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/1379"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=1376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=1376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=1376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}