800 crypto currencies are worthless

Tuesday 3 July 2018

A large number of cryptic currencies that appeared last year were fraud, according to the US website.
Over 800 of the crypto currencies that have appeared in the last half year are now sold for less than $ 0.01. Many newly-launched crypto currencies were fraudulent or did not result in anything, according to CNBC.

Since 2017, initial coin offering (ICO) has exploded. In 2017, investors bought digital currency from newly created companies worth $ 3.8 billion, equivalent to NOK 31 billion. So far in 2018, this sum has risen to $ 11.9 billion, or NOK 97 billion.

The price of the most valuable crypto currency bitcoin has fallen 70 percent since record year 2017, and is Monday at $ 6,370 per coin, according to data from Coinmarketcap.

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