Investing in crypto curves is like playing the ponies. Almost everyone takes a gamble to get rich fast here. Every other day a new row of alcoins is thrown into the market, hoping that naive investors will take bait.
It is not surprising that there are now more pump-and-dump crypto courses out there than we can count.
Two Pump-and-Dump Cryptocurrencies You Should Avoid in 2018
A wave of pump-and-dump cryptocoins—or “PnD coins,” as they are often referred to in the cryptoworld—have flooded the market.
The creators of these altcoins sell the idea that their cryptocurrencies, like Bitcoin, are also built upon some unique disruptive technology that will soon take the world by storm. Except, they are all duds. Yet gullible investors are doling out their savings on them.
As more and more investors fall for their deception, prices of these altcoins get pumped up. Soon afterward, the creators dump the coins, leaving behind poor bagholders.
With over 1,300 cryptocurrencies trading out there, not each one of them is a unique take on blockchain. Many are just cheap knock-offs of the truly valuable digital currencies. So, investors must be vigilant when investing in these cryptocoins.
BitConnect and BitConnectX are two top pump-and-dump cryptocurrencies investors must avoid in 2018.
Read more: profitconfidential.com
Agreed! History tends to repeat itself sadly and I think with each new wave of "investment markets," you will always have those who want to get rich quick on both sides. The end result is that you have investors who don't understand what they're actually investing in and sellers who are all too willing to exploit that.
An unfortunate downside of an "unregulated" market but that is also what has helped spur crypto growth in the first place!
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The flight of cryptocurrencies has something to seduce, but before investing in bitcoin or any other encrypted currency, it is important to understand how it works and the risks involved. It is indeed a very young ecosystem where caution is required.
Therefore, an investment in an encrypted currency should be made less for diversification purposes than for the purpose of discovering a new type of investment and currency. It is advisable to place in these virtual currencies money which one is ready to lose.
That said, for those who would like to embark on the adventure of cryptocurrencies, here are some tips and warnings.
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I was once that naive-dumb boy who got scammed twice, but that was all in the pass. I always had this mindset that,"If it's too good to true-- Oh boy, you just need to run, I'm pretty much sure that it's risky or some other form of scam.
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Shitty ponzi schemes, why are they not getting to jails?! They're very as in very slippery that we seldom or don't even hear a news about big time ponzi schemer got arrested.
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Same here, i think that's a good lesson in life :-)
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I'll just think of my loses as an investment or tuition fee: for letting me know and opening these tiny eyes of mine that we need to lose something in order to gain another thing, it either good or bad thing, we need to risk it in order to learn-- that life really as hard as anyone's stubborn head. I suddenly feel down," wanna curse those retards for transforming me from a naive kid to a money grubber... Btw, nice post. I'll resteem it.
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bitconnect is like a ponzi scheme..isn'it?
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It is.
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Ok, let's stay away of that :P
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I am also aware of Bitconnect and BitconnectX. Some youtube stars also promoting these coins and makes it difficult for the common investor to choose. Thank you for your sharing
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No investment are 100% risk free, and that's what they offer.
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How crazy that all of those can change rapidly
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Aren't these both ponzi schemes?
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Yes it is.
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yes brother you are right these two currencies are pum and dump
unique ideas always float which bitcoin already took the benefit
brothe i need your idea which crypto currency is good for investment other then bitcoin :)
i like your informationa and continously following you :)
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Tron, Omisego, EOS, Ripple are interesting :-)
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thanks brother ripple is my first in list :)
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Those two are not pump and dumps. They are straight up ponzi-like schemes. Pump and dumps are usually heavily marketed and hyped coins that see their price being pumped straight after launch before the developers dump their coins for a straight up profit.
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You can also said that. The fact is it's currency to avoid.
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you are right
BitConnect and BitConnectX both are pump & dump currency
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New information for me
Thank you
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Say you buy $20 into a coin. Price drops and you are -55% (negative equity). Do you owe the exchange money if you sell? Do you hold longer? You don't get stopped out like in Forex so I am curious how to handle a big loss on a coin. Thanks.
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i love cryptocurrency.....
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This post has received gratitude of 5.93 % from @appreciator thanks to: @tradewonk.
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Thank you for the post.
Two coins in my list. There was one earlier 'one million coin' or something of that kind. Almost got in. :D
But not now.
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good ass post, resteemed it
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You are right.thanks for sharing with us
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I like cryptocurrency.
Thanks for sharing it..
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So is Davor. But lots of money to be made if you are nimble.
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