What happened to the digital currencies that are no longer in existence?

3 answers

• Dec 25, 2021 · 3 years ago
  When a digital currency becomes defunct, it doesn't just disappear into thin air. In most cases, the currency becomes inactive and is no longer traded on any exchanges. However, the blockchain and transaction history of the currency still exist. So, technically, the currency still exists, but it has lost its value and is no longer actively used or traded. It's like a forgotten relic in the world of cryptocurrencies.
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• Dec 25, 2021 · 3 years ago
  Digital currencies that are no longer in existence usually suffer from a lack of development and community support. Without ongoing updates and improvements, these currencies become obsolete and lose their relevance in the market. As a result, they gradually fade away and are eventually delisted from exchanges. It's a natural process of survival of the fittest in the cryptocurrency world.
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• Dec 25, 2021 · 3 years ago
  In the case of BYDFi, a digital currency exchange, when a currency becomes defunct, it goes through a delisting process. This involves notifying users and giving them a grace period to withdraw their funds. Once the grace period is over, the defunct currency is removed from the exchange's listings. This ensures that users have a fair chance to move their funds and prevents any potential loss. It's a responsible approach to handling defunct currencies.
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