A series of general tips for cryptocurrency users

Hyphen(-)

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Quote from: karam22 on April 11, 2023, 09:22:32 AM

Do not enter for pumping and dumping sets

Pump and dump is a tactic or strategy used by a group of famous or influential people in a particular field to generate hype and bustle to get many people to buy the target cryptocurrency at the same time.
By doing so, the price of the pump-and-dump target cryptocurrency rises exponentially, and this enables the organizers of this tactic to sell out and leave everyone hanging at a higher price.

Na because of all these pump and dump issues na why e de very necessary to de learn and do research before you start trading; this because person wey wan invest in Bitcoin, for example, no go they follow all these pump and dump charts, them go rather buy and keep holding their coin until the market come normal and they see say them don profit enough from the investment.

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Therefore, we advise that you should stay away from it to keep your cryptocurrencies safe. Organizers may tempt you to participate by promising big returns. But the truth is that only the regulators will benefit from it.

Sure, na only them get guarantee to benefit from it because na them know the time wey them go dump am, so anybody wey follow benefit from them they very lucky. The main advice here be say, make greed no send us go back village, make we they very careful on the project wey we go invest in.

Amphenomenon

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Avoid anything that has to do with any cryptocurrency that just focus on making one rich quickly and with no actual use. Pump and dump can be done by the developers or any influencers. Do proper research before trading or investing on any coin and avoid long term investment with alt coins.

knowngunman

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This pump and dump thing dey related to crypto signal. Anything crypto signal abeg japa with high speed my 9ja people. I remember the last time wey I join one signal group wey dey update signal twice a week and from their signal history Omo you go convince. Unfortunately, I was new to crypto by then and decided to give it a trial. Long story short, na so I enta wahala. I buy the coin wey dem bring signal and the coin pump tru tru but to sell or swap now na problem. Na so the coin dey until it becomes useless. Crypto requires better mentoring and avoid greed at all costs. If your aim na to be become millionaire overnight, Omo you go get plenty story to tell about your loses.

Marykeller

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Seriously, if you no kukuma hold yourself for this crypto world, altcoin investment go do your dirty. Naso you go the invest unnecessarily just because of how paid influencer hype a particular project. Na why em be sae before you think of investing in altcoins, invest with the amount you go fit afford to lose. No be for you to be in a rush to invest because you see this altcoin d do well, and many people come the hype am join. As you take rush in to invest on am, naso you go take d on regrets later run. Blaming yourself at the end

Crypto investment d very risky. Peso no fit know the ones wey go fit last and bring returns for their investors. For person to stay safe and have a well relax mind, make em invest for bitcoin or any other top altcoins wey don stay long like years for the crypto market

CryptopreneurBrainboss

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Quote from: karam22 on April 11, 2023, 09:22:32 AM

Therefore, we advise that you should stay away from it to keep your cryptocurrencies safe. Organizers may tempt you to participate by promising big returns. But the truth is that only the regulators will benefit from it.

Forget about the fact weda e illegal abi e legal but you dey see this side wey I qoute so, na the summary of everything wey this thread dey about. Anything wey get to do with pump and dump groups needs to be avoided if not na you go surfer am. Nothing actually new like dat for this industry dem just dey resurface either in a new form or old trick every small small time. Pump and dump na the fastest way for you to lose everything wey you make for this industry. 100% of dem na scam and na to take ur money dem dey after.

Nobody go find coin pump for you if no be dem dey benefit at the end of the day, you dey see all those signals groups, majority of them no legit and dem just dey use mumu people wey dey believe them cashout. E get reason why the forum members dey very against all those shitcoins wey we sabi chase after and na because many of them na just pump and dump dem dey into even the memecoins dem all follow.

E better you take time find better project and invest then go rest your mind and wait after few years you come back to your profits instead of believing all this pump and dump groups wey you dey see. For a longer time na you go benefit pass if your investment play out as you want am when you be invest for the project then come invest.

Agbe

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I don't think wise piple go enter pumping and dumbing set. Bitcoin had lived more than 13 years and it has pumped to $60k before coming down to the rate of $15k in the year 2022. So it scale through that stage of dumbing. Even government laws can not influence the pro and bitcoin enthusiast in the ecosystem. Those who used dis approach to inflated di price on their domains are not 4 di benefit of odas bt 4 demselves.

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Quote from: Charles-Tim on April 12, 2023, 04:50:34 AM

See altcoins as gambling, but they can give more ROI, invest just very little amount of money on altcoins.

That is if you must, but it is not a must to hodl altcoins as a cryptocurrency user. Just as said, if you know you do not have the money to gamble with investing in altcoins, just stick to buying and investing in bitcoins that is a bit more surer.

Many people have been victims of pump and dump schemes just as a few lucky persons have benefited from it because they were not greedy and knew that they had to take profit from the altcoin while it is pumping instead of making the mistake that some people do of wanting to see how high the pump will get.

As a crypto user, if you must invest in altcoins, know that pump and dump is very possible, so always know when to take profit.

Charles-Tim

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Quote from: karam22 on April 11, 2023, 09:22:32 AM

This practice is illegal in the cryptocurrency and physical markets.

After many illegal doings are criminalized, crypto is still under-regulated, because crypto is not well regulated, no law against pump and dump projects in many nations if not in almost all nations that there is no such law. That is why you may still see pump and dump projects like this and no one arrested. Buy bitcoin or other reputed coins with huge marketcap instead of gambling with your money. But some altcoins with huge marketcap can also becoming nothing in some minutes, just like Luna, UST and FTT token. See altcoins as gambling, but they can give more ROI, invest just very little amount of money on altcoins.

Wiwo

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Quote from: karam22 on April 11, 2023, 09:22:32 AM

This practice is illegal in the cryptocurrency and physical markets.

Of truth, cryptocurrency is still far from being regulated and as an unregulated market a lot of schemes will take ace freely the responsibility is now left to the individuals to either protect themselves by staying away or never get into the pump at its pick and try to jump off the bandwagon when the gears are still spending high to avoid or escape total crash at the end, pump and dump is a bad practice is the cryptocurrency market and only the scam projects without any visible road map endure in this kind of scheme.

Up till now none of the projects owners who are involved in the scheme has not faced the law and as a matter of fact, they walking the street as free citizens while they have destroyed the life of hundreds of their victims, and even though there is no authority pronounced illegality of this fraudulent machinism call pump and dump none have been jailed for doing so.

karam22

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Do not enter for pumping and dumping sets

Pump and dump is a tactic or strategy used by a group of famous or influential people in a particular field to generate hype and bustle to get many people to buy the target cryptocurrency at the same time.
By doing so, the price of the pump-and-dump target cryptocurrency rises exponentially, and this enables the organizers of this tactic to sell out and leave everyone hanging at a higher price.

This practice is illegal in the cryptocurrency and physical markets.

Therefore, we advise that you should stay away from it to keep your cryptocurrencies safe. Organizers may tempt you to participate by promising big returns. But the truth is that only the regulators will benefit from it.

Topic: A series of general tips for cryptocurrency users (Read 107 times)