Why you should NOT join pump and dump groups
bitcoin·@crypto2crypto·
0.000 HBDWhy you should NOT join pump and dump groups
We have all heard that crypto trading is like the wild west and that normal rules just do not apply, and when it comes to making money fast having no regulations fits best. There is only one problem in crypto for someone to win others must lose and in the world of pump and dumps they often come from the same group. Pump and dump groups offer what would seem to be a dream come true, a chance a jumping onto a coin that will be the next 2-3x coin before everyone else. There is one problem not everyone in the group will receive this information at the same time. So here is how the game is played. 1. Pump organizers will solicit random people to their pump group with promises of riches due to their ability to pump coin prices and make a fortune. 2. This group will offer early access to the coin to be pumped if you invite people into the group, the more you refer the early you get the signal 3. Organizers will begin buying the coin to be pumped well in advance to the actual pump and will do so at a favorable price. 4. They will tell what exchange to have your BTC on and what time the pump will begin, they will also provide purchase and sell prices. 5. They will announce coin and watch price skyrocket due to the group buying up all of the coins. Meanwhil, they are dumping there previously purchased coins on the rest of the group. So in the end when the momentum is slowed what you have is a bunch of traders holding the bags of the pump organizers. very few not included in the inner circle will profit and the rest will be stuck holding a token that may or may not be worth anything. To make matters worse, most pump organizers target dead coins. So even if you were willing to wait the coin out, you may never actually see a return on your investment. So to anyone thinking of joining a pump group DON'T. 