Crypto is almost totally unregulated. This can be a blessing and a curse. Trust few people and never ever trust a Pump Group. Let me tell ya why. This first group of people can basically get money from thousands of people and leave them with nothing (of that investment)
Pump Group is actually the first thing I heard about crypto on some website. I thought that it sounded like a life changing idea and I”d be a lot wealthier early on. I researched these and thought that the writers were wrong and I could outsmart the pumpers.
The admins of these pump groups are really good at getting people to join in and think it’s gonna be awesome and life changing. I tried to follow along with one of these with a very small amt of BNB to see if I could turn it into a lot very fast. I set a market order about 40 seconds in when this coins was nearing the top after a typo. By my limit order sell time it was nowhere close to what I paid and it was worth too little to sell.
I followed a few more of these pumps without spenidng anything and just pretending to and trying to time it. The only way you will make money out of this is if you buy beforehand and set limit orders. These bandits gather up in teams of 3–10 admins who promote group heavy and buy early on. Sometimes if a normal member has a lot of people accept their invite they get it a few minutes earlier.
These exist mainly on Centralized Exchanges that list lower cap coins and have a large volume. Binance and KuCoin are the two I’ve been in groups about. There’s a fork in the road two directions. Chase very short term moonshots to get filth rich and then the longer path withhest ,of gold and the thing you want most in this world.. The first path will continue your current life and possibly set back.