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RE: How Pump and Dump Schemes Work .:. And why you should avoid them...

in LeoFinance3 months ago

When a small coin in volume goes up without any specific reason, it is pumped to dump when others are buying fear of missing out. It is happening over and over. And it will happen again. I think if you want to trade cryptocurrency, it is better to trade coin that has big volume, strong background, and use case. It will be harder to manipulate. So what do you think, @ph1102?

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Well, it is like you said... I'm not a big fan of "unknown" coins and I avoid to trade them, but I do like to trade some big coins, but on small exchanges... just for fun... :)
Big volume has sense if you are trading with big amounts, but if you trade with smaller amounts, you can try on smaller exchanges, with less volume, as the spread is usually wider, and possible gains bigger... ;)

For example, when steem-hive split happened, I made some nice amount of HIVE trading with the steem/btc and the hive/btc pair on Ionomy...

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