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Dead Crypto Wallet

One of my greatest annoyances with crypto is the learning tax. Not losses on dumb trades - but the overall losses when you want to try new features or services, or try your hand at running an node.

I have a wallet that is, essentially, dead - at least until Ethereum gas prices come down. I have $50 in Eth sitting in a wallet. The cost to transfer or use that Eth anywhere is ~30%. Combine that with the small number of ERC20 tokens I've picked up along the way and many of those tokens are dead - the gas fee to transfer or use the tokens is higher than the value of the tokens itself.

In another case, I wanted to try out setting up a node on NXN after the Coinbase tutorial. So I bought enough NXN to start and stake node only to find out that the Coinbase token I bought isn't the native token. You have to do a "1:1" swap for the ERC20 token to the native token. But, again, gas fees are so high, it will cost even more just to try to explorer the NXN crypto space.

I did get air-dropped some LPT years ago. It's worth about $57. Cost to move or transfer them? It's about 20% right now.

All of these tokens are, essentially, dead. You can't move them, touch them or otherwise utilize their underlying functionality because to do so means you take a loss, often times steep loss.

I'm curious how many dead wallets are sitting out there right now with a few hundred dollars that you can't do anything with. 

This article was updated on 25 Oct 2021