In the cryptocurrency market, which has spent many years, some coins have made good profits, while others have become history.
The biggest wish of crypto money investors has undoubtedly been to enter the market earlier. Although investors could not catch the periods when the price of Bitcoin (BTC) was $ 1, they would like to catch the periods when altcoins were cheaper than water. Cryptocurrencies, which have attracted great interest especially in the last two years, were almost little known in the previous periods. People who invested at the appropriate time turned into the rich of the present.
Cryptocurrencies Either Vizier Or Disappear
Undoubtedly, the first of the reasons for the intense interest of cryptocurrencies was that it provided very high profits to its investors. Most of those who invested in the BTC and ETH side years ago managed to catch specific gains.
Especially in the past, cryptocurrencies have offered strong rise and plenty of profit. The perception model brought by this situation, long-term investment, did not work for some coins. While coins such as Ripple, Ethereum, and Monero managed to survive in the crypto money market, some coins became history. We have compiled the once popular but now lost coins for you.
NXT Coin
Launched in 2013 by anonymous software developer BCNext, NXT has once become one of the most popular coins. NXT, which has a Bitcoin-like structure, gave users the opportunity to create their own crypto money. This feature, which seemed to be a great success at the time, provided popularity for NXT. One of the most popular coins of its time, the project provided trade, freedom, experience and continuity to its users. According to CoinMarketCap data, it managed to become the 5th largest cryptocurrency in terms of market capitalization in 2014. However, developing market conditions, new products and competitive environment made NXT history. The once popular project has lost the relevance it once enjoyed, though it still exists.
BanxShares Coin
Another popular coin of its time was BanxShares. The project, which managed to capture a daily transaction volume of about 36 BTC, was offering innovative activities to people. The once popular coin that focuses on data sharing, transfer and transfer is now history. The project, which featured Chinese billboards on its website, was trash, as the locals call it. BanxShares was listed among the top 7 cryptocurrencies in 2015 according to CoinMarketCap data.
BitConnect Coin
The once popular coin, now the ponzi scheme BitConnect, was among the coins that went down in history. The project team suggested a specific method for their users. Roughly speaking, the project, which took the money of the investors and traded it with a bot software, promised at least 1 percent daily gain. Established as a system where participants invest and receive regular payments, BitConnect was once one of the most popular coins. According to CoinMarketCap data, it was ranked as one of the top 15 cryptocurrencies in 2017. Bitconnect had a daily transaction volume of $3 million in 2017. With the ponzi coming out of his system, it’s now history.
Auroracoin Coin
When we rewind history, we come across another coin, Auroracoin. Auroracoin was very popular at the time when cryptocurrencies were not as adopted as they are now. Auroracoin was launched in 2014 as an alternative to Bitcoin. The Iceland-based project also wanted to be an alternative to the Icelandic krona. Building a strong project with a peer-to-peer payment method, the team managed to popularize Auroracoin. According to CoinMarketCap data, Auroracoin was ranked among the top 7 cryptocurrencies in 2014. Although it still exists nowadays, it was among the ghost coins.
PayCoin Coin
PayCoin, whose cryptocurrencies were blowing like the wind, was one of the most popular coins of an era. Paycoin aimed to make money for its investors with the system built on a cloud-based wallet. The popular coin, one of the oldest cloud mining projects, even caused Bitcoin mining to decline. The mining increase on PayCoin has managed to seriously affect Bitcoin hash rates. It was giving 1 BTC every 2 hours to miners who were digging. Although he was relaxed during his release, he turned into a ponzi scheme over time. It currently exists as a ghost coin. According to CoinMarketCap data, PayCoin was one of the top 3 cryptocurrencies in 2015. Yes, it was coming after Bitcoin and Ethereum.
All in all, long-term investing in cryptocurrencies is a demanding business. Investors need to choose carefully which project and which coin they will be in.
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