We have known about cryptocurrencies for years but in recent times they have come into the limelight because of how they work. You can earn millions of dollars in a matter of hours and due to this many people are getting involved in this landscape.
If you are one of those people who know what cryptocurrencies are but don’t understand the nitty-gritty details such as pump and dump schemes and “where can I join a crypto pump” then you are at the right place. In this blog, we will be discussing pump and dump and everything related.
What is a Crypto Pump and Dump Scheme?
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There are several schemes, techniques, and tricks that people have found out how to make huge profits from cryptocurrencies. One of these schemes is the “Pump and Dump” scheme. Let’s see what it is.
Pump-and-dump schemes are when you work with other people together to inflate the price of a low-value cryptocurrency or token by buying in an absurd amount at the same time, waiting for other unsuspecting investors to FOMO (Fear of Missing Out) into the asset. And then sell your positions when the price rises to a certain level.
Pump-and-dump schemes in the traditional (traditional financial) world are illegal, but since most cryptos are unregulated, crypto pump-and-dump schemes operate in a legal gray area.
The whole thing starts off with a “pump” phase when large holders of an asset, such as project developers or early investors, hype up their project, often with claims and promises of riches on social media platforms like Twitter, YouTube, or Telegram.
With time, more and more people buy their assets, causing their prices to skyrocket. What follows is called the “dump” phase, where the original investors sell their holdings as soon as the asset reaches a certain price and run off with huge profits.
The “dump” phase generally occurs quickly, with the asset’s price decreasing greatly, leaving those who bought in late with little alternative but to sell and wind up taking heavy losses or having their holdings go essentially to zero.
Where Can You Join A Crypto Pump?
Now, that you understand what crypto pump and dump schemes are you might be wondering “Where can I join a crypto pump”. There are several platforms through which you can join the crypto pump.
The most popular is “Telegram Groups”. Telegram is very well known in the world of crypto as it has been used by famous traders to provide guides and other kinds of stuff. You can join groups such as “Big Pump Signal” or “Mega Pump Group” and they will help all of the members with pumping a specific cryptocurrency and then selling for profit.
Another popular place is “Discord Server”. Just like Telegram, Discord is a social media platform where traders create dedicated servers for pump signals and guides related to trading. You can also do the same with “Crypto Pump Apps” but they are not as reliable as other platforms.
Things to Know Before Getting Involved in Crypto Pump and Dump Scheme
As we have previously mentioned that schemes like pump and dump belong in the legal gray area. This means that in some places and situations, you can get into a lot of trouble if you are involved in these schemes both financially and mentally.
Besides that, scammers can easily fool you into thinking that you are earning a profit, instead you are just filling the pockets of the scammers with your hard earned money. Schemes like Pump and Dump are basically cheating and because of this, you lose trust among traders which can ruin your whole career.
Conclusion
You can earn a lot of money through cryptocurrency and crypto trading. There are several schemes available online that can help you achieve this dream in no time and one of them is the Crypto Pump and Dump Scheme. If you want to learn more about it or where can i join a crypto pump then read the blog above.
