INTRODUCTION TO WASH TRADING IN EXIT SCAMS

Hello to everyone in this wonderful community today and on this great platform at large. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.

I welcome you all to yet another beautiful day in the month of July and I hope we all are having a great week with friends and family already. Knowingfully well that we are now in the other half of the year, this brings us closer to the end of another beautiful year.

Today, I am here among you all to discuss about an important topic regarding cryptocurrency trading exit scams and in regards to that, I have titled today's discussion THE INTRODUCTION TO WASH TRADING IN EXIT SCAMS. This is going to be an interesting discussion and as such, I urge you all to sit tight and relax while I begin the discussion for today. I wish you a happy reading as I begin!

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Cryptocurrency market trading is quite great and enticing as we get to see traders making profits on a daily basis. Investors show great concern and interest on certain digital currencies as a result of their importance and value in the cryptocurrency world. We have seen how many investors with huge amount of money, always trading the top digital assets.

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Many others on the space trade top digital currencies and this is because, these currencies have the tendency of bringing high returns especially when a high leverage is being used during the trade execution. Not only the top currencies gets traded, other digital assets gets traded and the most thing that lure traders onto the trading market is when a huge buy is noticed regarding certain digital currencies.

Investors and traders always like to catch up with the trend and as well follow the trend and as such, on seeing a huge buy market, they intentionally jump onto the trade so as to be partakers of the opportunity and make judicious use of the trend movement thereby executing a buy entry trade since long candlesticks are seen in the market.

Although a few of this incidents are not real. Not all bullish market trends are true in the digital currency market. Some trading volumes regarding certain digital currencies are not real and as such, they can be as a result of bot activities. This brings us to the discussion of the day as seen below.

WASH TRADING IN EXIT SCAMS

Wash trading can be seen as an act of deceiving individuals and traders who often launch the digital currency market to trade for the purpose of making profits.

The wash trade tends to increase the trading volume that will turn out to look so real to genuine traders and with that being sighted, real traders will then launch their trading application in other to join in that feast, not knowing that it is a trap to grab their money once their objective is achieved.

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There are random applications oit there that are being put to use by scammers to conduct such activity. These applications can be use to shuffle and manipulate digital tokens between certain addresses that are controlled by bots and also make these digital currencies to be seen as though they are real and active.

So when a trader or investor notice such a trade volume and seeing that many other addresses are purchasing the said digital asset, that same trader will also want to execute a trade just to be a partaker of the profit, not knowing that the whole act has been orchestrated by frauds in the market.

When the trader eventually executes the trade, and other traders and investors follows too because the news would already be on social media trying to get as many victims as they can get in other to scam them and do away with their money. These individuals can a extra miles to create fake accounts on social media platforms so as to talk about the said trade and lure traders that are ignorant .

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And when they have noticed that people are already executing the trade using the said asset that has been formed by the scammers, immediately they noticed a high number of traders purchasing the asset, what comes next will be a huge dump in price and when that happens, it indicates that the scammers had already do away with the funds of traders.

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CONCLUSION

A whole lot of scammers are online trying various means to scam investors and traders just to run away with their hard earned digital assets and most investors and traders often fall a victim for tricks just because they feel they do not allow opportunity to pass them by.

Always make research on digital currency you would like to trade or invest in before risking your hard earned money. This will enable you to mitigate risk and manage your funds adequately. Mind you always ask questions and make research about cryptocurrency assets before you start trading them.

Thank you all for your time. I look forward to seeing you all in due time, but I say goodbye for now and do have a lovely week ahead.