Since 2009, over 2000 Cryptocurrencies have Failed and this count rises monthly. Cryptocurrencies are virtual financial assets that are free from control of any government or institution. Cryptocurrency trading has been mostly criticized for two reasons: 1. Widespread use for fraudulent activities and 2. Instability and heavy fluctuations in exchange rates. Since 2010, many billionaires have emerged from Cryptocurrency investments but similarly, many investors have gone bankrupt.
Why So Many Cryptocurrencies Have Failed:
Bottom line, Cryptocurrency is a highly risky, unstable and unregulated asset. The percentage of bankrupt investors far outweighs the percentage of successful billionaires. Over 98% of Cryptocurrencies will fail. The most successful Cryptocurrencies that have made billionaires out of investors are Bitcoin and Ethereum.