Is a great place for the crypto lovers, there are telegram Pump and Dump groups that are getting their heads up, not for a good reason.
According to research made by the SSRN, there are thousands of Telegram Pump and Dump groups for cryptocurrency that one can join and do all the “Illegal Activities” in the crypto world.
To all those who don’t know about Pump and Dump practice, it is basically a way of selling your assets to the newbies in order to inflate the prices “Intentionally.” Just like most of the currencies in the world do it to get the attention of their country’s population.
You can’t say this practice as “New” because it is widely being used in the crypto world, and there’s no doubt, “It is profitable as well.”
Before the telegram application, this practice was being done on other social media platforms such as “Facebook.” But now, most of the crypto users have been shifted to “Telegram” because of the density and potential it has for crypto lovers.
Another study just revealed that; more than five thousand pump and dump practices had been conducted to artificially inflate the crypto prices. The data was scraped from the telegram and another great application discord.
However, this practice is killing the market of some new “Cryptocurrencies and users” because they aren’t getting the desired profit.
Yes, before you start using this strategy, you need to know how things work in this process.
For instance, most of the people try to do this trick with the biggest giant known as “Bitcoin,” but they ended up getting nothing. On the other hand, a few professionals try to do the same trick with “Low-Volume” cryptocurrencies, and they end up getting a lot of things in their hands.
There are a lot of groups that we can mention here that offer the “Pump and Dump” strategy on the telegram, but we don’t consider this method safe and natural.
Developing your crypto world skills and knowledge can help you earn the profit on a larger scale and off-course in the long-term as well.