Topic: Stay away from Pump and Dump groups! (Read 402 times)
Because of this groups many people left Crypto trade. this group make killing cryptocurrency trade. stay away this groups!
There was the time when i took a part in pumps - twice. It was enough to understand that it is a loose of time and no more. In this pumps win just the the organizers of these pump groups. Stay away from this, very high chance of money loosing. In addition this may cause of the account ban. Bittrex practiced such methods.
I agree with your statement. Actually, the pump and dump newsgroups are the groups whose owners have bought their coin they have long known for low prices, then they use tricks to push the coin's value up and Making pump dump informational groups is part of their tricks. When you follow that news, most of you will lose money because the news will sell when the coin increases and you will not sell out or you will get very little profit.
You should always stay away from them. It might seem adventageous but it is not, I can ensure you, with a couple of year experience in this cryptoworld.
And you are discovering it just right now? He just creates a pool, to pump all the coins that he wants too, there is nothing new with this.
The same has been happening for more than two years, only that nowadays there are more than 10's of new groups a day.
The same has been happening for more than two years, only that nowadays there are more than 10's of new groups a day.
I joined one of these pump and dump groups and within the same day I unsubscribe. How can only the admin knows the coin to trade on and what wonders me is we get the notification only a minute to the pump. So it means we are all making the admin money.
Most of the P&D groups are just another form of scam. The group leaders are the only people who really make money by dumping on other members, and since the amateur members understand something's wrong after a few so called pumps, the projects keep getting smaller and smaller until they die.
I joined one of these pump and dump groups and within the same day I unsubscribe. How can only the admin knows the coin to trade on and what wonders me is we get the notification only a minute to the pump. So it means we are all making the admin money.
Those Pump and Dump group are toxic for Cryptocurrency market. They are created to lure newbies into greedy trap hole and to make profit for a small group of people. Unfortunately, we don't have any kind of regulation to prevent that. Unless we create somethings else to lead the market differently, would we?
Hello all! Very interesting topic! I never heard anything about pump and dump groups? What is this and what sense to join this groups? I am sure that I am not only one here who have no idea what is this? I heard about scammer faucets and fake airdrops but nothing about ump and pump groups? I hope somebody can explain me! Thank you and have a nice day!
People will always fall for it , they can't or don't want to do the research for themselves so they think they can choose the easy way out.
I never joined a pump-dump group but i regard the ones who join a pump-dump group as eager to give his money to admins of group.
Pumps and dumps will always be there when there is a coin that has a high price. There is a lot of coins that will be manipulated though they can do well if they are worked on.
A lot of groups are just scammers)So you shouldn't trust in theirs advices))
The wisest thing to do in crypto world is to use your own brain rather than these stupid pumps and dump groups.
How do you identify a pump and dump group? I will do some research on this but if someone can provide a way to tell I will be thankful.
Thank you in advance.
Thank you in advance.
Pump and Dump groups are not created to make profit for their members. Pump and Dump groups are created to use their members for to pump the price and pay the profit for leaders of the group. So don't be fool and stay away.
Completely agree on that, good advice. In those groups only the admin and maybe some other guys make profits, the others don't.
This is actually example of ponzi sites that actually offers investors high return they are using the money to buy bitcoin and others coins and hold till the price pump but they will not return any amount to those investors and they will be gone in an instant. People should be careful and instead of joining any groups better make your own judgement and investment at least you can make a much wiser decision and you can assure that your money were safe
the only people making profits in this groups are admins. they buy the coins and ask members of this group to pump it.
yu can make profits but it depends of you entry point and your degree of greediness.
yu can make profits but it depends of you entry point and your degree of greediness.
Yes, no one, especially beginners, should participate in such groups. You can join in to see, draw conclusions. See that the growth is only 3 minutes, while you open your order. But as soon as you bought - the price falls. Because admins bought this coin before they advise you. It brings income to other people, but does not work for your growth.
At-time is way some people thing baffle me, why do you thing there is a free money somewhere, most of these guys would have already buy into the coins they want to pump a month or two before making the name of the coin public, then what they do is to start selling when the price is going up and you will turn to bagholder
I would rather rely on statistics than pump dump group.When in the business that include so much money,you can't expect others to decide for you,people who blindly follow the instructions will surely lose their money.Just spend your time reading the news about top 10 coin and see their price movement,only then you can decide to buy or sell by yourself based on the data that you know.
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