Stay Away from Pump-and-Dump Schemes

Crypto is here to stay and certainly, there are so many projects doing great by building a fantastic infrastructure and a growing ecosystem. Although things are still in ugly face that is also an opportunity for us to be part of it and grab some benefits later on when things go. It is always the right strategy to invest in the project in the early days but later also possible when you see some opportunity if the prices are down. That is how things work in the market and following the long-term strategy is best and foremost I believe.

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Some people try to game the system and just try to be reached overnight and for that reason, they come up with pump-and-dump schemes. It means a group of people try to pump any coin into the market to attract more attention from the investors which are traders. Once those people invest in the coin with greed that price is growing and they might make some money out of it but before that happens those groups of people try to dump all the tokens they have purchased at a lower price. So this way they try to dump all the tokens to the new investors and this is how they make money and reality is that the token may never reach that price again which was created through the pump and dump.

I believe that we should never become part of such a group and programme instead we need to be fair while investing because this is the best way. Sometimes wrong move can also bring losses to the investment and I understand that there is a risk associated with investment but with such a pump and dump scheme it is unethical way and that too can bring a lot of losses if things don't go well. In my opinion, it is always best to stay away from such schemes and follow a legitimate way.

Many people might reach out to you on Telegram and discard to share such plans and they will pretend like it's a great opportunity which they have brought to you but you should never be part of that because you don't know what intentions they have. It's true that there is no free lunch in this world so nothing comes for free and why risk our investment when we know that it is an illegal way of doing things in the market?

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