Cryptocurrency has been around for less than a decade, and in that time, it has seen its fair share of investment failures. Many people have lost money investing in cryptocurrency, and some investments have been downright disastrous. In this blog post, we will look at some of the worst investments in the history of cryptocurrency.
The first investment on the list is Bitcoin Cash, created in August 2017 as a hard fork of Bitcoin to be a more scalable and faster version. However, it has not lived up to those goals, and its price has steadily declined ever since. In fact, at the time of writing this blog post, it is valued at only $288 per coin – a far cry from its all-time high of over $4000!
Another terrible investment is BitConnect. BitConnect was a cryptocurrency lending platform that promised investors incredibly high returns. However, it turned out to be nothing more than a Ponzi scheme, and many people lost their money investing in it. In January 2018, the platform shut down, and its price plummeted from over $400 to just $0.50 per coin!
Next on our list is NEO, a cryptocurrency created in China in 2014. It promised to be the “Chinese Ethereum,” but it has failed to live up to that promise. Its price has steadily declined since its creation, and at the time of writing this blog post, it is worth only $23 per coin – a far cry from its all-time high of over $190!
Another terrible investment is Ethereum Classic, created due to a hard fork of Ethereum in 2016. It promised to be a more decentralized version of Ethereum, but things did not turn out that way. In fact, its price has steadily declined since its creation, and at the time of writing this blog post, it is worth only $11 per coin -far from its all-time high of over $45!
Finally, we have Ripple, a cryptocurrency created in 2012. It promised to make it easier for banks to send money internationally, but that didn’t turn out well either. Its price steadily declined since its creation and dipped to only $0.50 per coin compared to the all-time high of over $33!
In conclusion, cryptocurrency has seen its fair share of bad investments over the years. So if you’re thinking about investing in cryptocurrency, be sure to do your research first!