TeslaCoin is a cryptocurrency that has existed for over a decade but remains largely under the radar in the broader digital currency world. Despite its name, TeslaCoin has no official connection to Tesla, Inc. or its CEO Elon Musk. The name has caused confusion among people who may assume it is linked to the electric car manufacturer or its ventures into cryptocurrency. In reality, TeslaCoin is a separate project with its own blockchain and set of goals. This article takes a closer look at what TeslaCoin is, how it works, its current status, and concerns surrounding its use.
Launched in 2014, TeslaCoin (TES) began as a hybrid cryptocurrency, combining both Proof-of-Work (PoW) and Proof-of-Stake (PoS) systems. Over time, it moved fully to the PoS model, where users can earn rewards by holding and staking their coins. This approach allows the system to confirm transactions and keep the network running without requiring large amounts of energy. TeslaCoin offers a block time of 30 seconds and a total maximum supply of 100 million TES coins. Those who stake their coins receive a 7% annual interest rate, an incentive aimed at encouraging users to participate in the network.
TeslaCoin’s branding often presents it as an advanced and secure trading platform, with some descriptions claiming it uses modern algorithms and AI-based tools for buying and selling various digital assets. These assets reportedly include well-known cryptocurrencies like Bitcoin and Ethereum. The project also claims to support digital and hardware wallets, including popular options like Ledger Nano S, Trezor, and Trust Wallet. According to its claims, the system is designed with high-level security features, including AES 256-bit encryption, and is meant to be simple for users to manage their holdings.
However, the project’s actual performance and credibility are in question. Several reports suggest that TeslaCoin is inactive or possibly no longer in operation. As of July 2025, websites like Coinbase and Bitget list the price of TeslaCoin as $0.00, with no trading volume in the past 24 hours. Its price in major currencies is also shown as “NaN” (not a number), a sign that the coin is either not being traded or there is a problem with the data being reported. There is no available information on market cap either. Projections for the coin’s future, such as a possible 38% rise by 2031, appear to be based on limited or unreliable data, and should be taken with caution.
Public interest in TeslaCoin has dropped sharply. On social media platforms, earlier statistics from Coinbase (in 2022) ranked TeslaCoin very low, at position #2,950 in terms of mentions. Though it received a high sentiment score of 97 out of 100 at the time, most of those messages were neutral, with very few people expressing positive or negative opinions. Reddit shows little engagement with the coin. Only one post and one comment have been noted in older records, and even those had more downvotes than upvotes. This suggests the community around TeslaCoin is either inactive or extremely small.
One of the biggest concerns surrounding TeslaCoin is its link to scams. In 2022, cybersecurity company Avast warned about a scam involving TeslaCoin that was spreading across Facebook and email in several countries, including parts of Europe, Canada, and Australia. The scam falsely promised high returns, such as making $600 per day from a $100 investment, and used fake news websites to appear legitimate. Victims were lured into investing with promises of quick profits, and in some cases, people lost at least $250. Avast reported that it had blocked over 10,000 users from these attacks. The company urged people to double-check URLs and avoid investment offers that seemed too good to be true.
To make matters more confusing, there is also another cryptocurrency called Tessla Coin (TSLA) that runs on the Ethereum blockchain. Though it shares a similar name, it is a separate project. Tessla Coin claims to focus on using blockchain for payments and data-related services, with a total token supply of 11 billion. However, like TeslaCoin, it shows little trading activity, no available data on circulating supply, and its most recent price was around $0.0148, with no trading volume at that time.
Meanwhile, Tesla, Inc. has had its own involvement in the world of digital currency. In October 2024, the company reportedly transferred around $765 million worth of Bitcoin to unknown wallets. It also allows the use of Dogecoin for some of its products. These developments have received far more attention and news coverage than TeslaCoin. The confusion between TeslaCoin and Tesla, Inc. has led to misplaced trust in the cryptocurrency by some people who assumed a link that does not exist.




