Investing

Why Pump & Dump Groups Won’t Make You Rich

Trading groups or pump & dump groups exist like sand on the sea. Some anonymous promoter invites you in a Telegram Group with the promise, of up to 300% profit. Once you joined one of them, you will first notice the excessive use of emojis. You will also notice citations from users who made a lot. Also, you will notice a date when the next ticker of the coin will be published. Now, you wait patiently for the ticker while you dream on which things you will buy using the profit you will make.

And, the time has come, the anonymous operator, who claims to be a professional cryptocurrency trader for six years, posted the ticker of the coin in the channel. You click quickly in the browser on the tab of the exchange and type in the ticker of the coin. Once there, you start to place some buy orders while the green candlestick upsurges swiftly. The buy order hasn’t been gone through, you place again an order. This time, the buy order is successful. But you see how a red candlestick starts falling sharply. After a couple of minutes, the coin’s price is far below the previous price. The only possible exit strategy is just to sell at a low market price.

Why is that, although the anonymous operator promises me a profit of up to 300%, that I couldn’t make a single profit.

The operator is the only who makes the most out of his trading group

To be frank, it is not a secret that the operator is the only one who can make a serious living out of that.

Before the operator publishes the ticker to the channel, he looks for an altcoin with no volume. He places a few buy orders so low as it won’t be obvious. At the same time, he also puts sell order at a price which the pump may potentially reach.

Later, when he publishes the ticker of the coin, he will be the one who feels joyful by making a nice profit, while all others are desperate and suffering from their loss.

You can’t withstand with automated bots

We don’t have to forget that probably thousands of people are trying to put a buy order under time pressure. A bot which automates it seems to be the most outstanding solution for this. While you click on the tab, type in the ticker and try to place multiple orders. Some others just have to type in the ticker, click on start and see how their bot makes them rich. At that point, you should realize that doing manually won’t let you profit.

It’s all about money

This isn’t applying to all groups, but a few of them have next to their free channel also a paid channel. In that paid channel, the subscribers know sooner which coin will be published in the free channel. As a result of that they know the coin earlier, they are probably the one with the operator who can make at least a nice profit out of it.

Yet, the paid channels aren’t really for everyone. The subscription cost ranges $30 to $100 a month. And a capital of less than $1000 isn’t the paid channel worth.


Conclusion

Trading groups, channel or pump & dump groups are not a solution being rich fast or improving your purse. All that they do is to empty your wallet in favour of the operator or paid subscriber. Although the operator promotes the channel with five-stars feedback or influences you with screenshots, the reality is, unfortunately, the opposite. The next time you hit on such group, think twice before joining them. It is better throwing the crypto on a coin with a potential future.

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