Didn’t Find Enough Information about Pump and Dump Crypto Signals? Swipe Below and Find It Out !
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Pump and dump crypto groups are channels that post signals on unknown crypto coins, which influence the price of a crypto coin with the low volume, and its value increases.
Since the end of 2020, cryptocurrency trading has become a very popular topic in the media, news, and among existing advanced traders. These highly widespread talks create a big demand for crypto trading and investing.
Unfortunately, many newcomers when entering the market, do not know which ways of trading are really profitable. And they especially like channels that show enormous profits, which, usually, are these pump channels. We would not say something against them if we knew they are really legit, but every person that understands the pump and dump schemes, will tell you they are absolutely not legit.
Safetrading lists about 20 Bitcoin pump and dump signals channels on Telegram, and there are no approved channels among them. The thing is that 99,9% of the crypto pump and dump Telegram is a special form of scam.
We call it “a special form of scam” because, at first glance, they do not block you after the payment, they add you to the VIP group where you see plenty of signals and results.
The question that bothers many people:
Is pump and dump activity illegal?
On traditional exchanges, this practice is illegal and strictly regulated by the government. However, due to the lack of governmental interference in cryptocurrency trading, many traders use it because they know they will not be caught. Also, most of the Telegram admins have nicknames and do not provide their real photos or places of residence, that is why it is very hard to find them in case you are looking for the refund, etc.
Nevertheless, there are many pitfalls in their activity, and below we will tell you why!
What Are Pump and Dump Crypto Telegram Signals?
First things first - pump and dump cryptocurrency signals look like the common crypto signals that are posted by experienced traders that are listed on Safetrading. So, it is going to contain:
And, of course, no one is going to tell you when to close signals, what is the risk percentage, etc.
But, these signals are not common because they have the purpose of giving profits to the person that published the pump signal, but not to the common traders that use paid signals for trading on an exchange.
During our experience with crypto traders, we noticed 2 most common schemes with pump and dump crypto signals, and we will tell you more about each of them below.
Pump And Dump - The First Popular Scheme
Let’s go through the first type with the example of Crypto Kirby.
If you message them to buy a membership, you will get the message with their very bright and friendly welcome message and, what is more important, unacceptably high membership costs.
If you are a beginner-trader, you will more likely think that this admin is really very friendly and he is going to guide you through your trading process, and you will be interested in this channel no matter how high the VIP prices are.
As we told you before, the target audience of pump and dump Telegram channels are newcomers, so, let’s imagine, they subscribed to the channel.
Then, in a couple of days, you will receive a message like:
“We have a very profitable pump signal, but only some users can get an opportunity to take part in it. To be one of those, you need to send 0,1 BTC to this wallet, and then we will send you your money+received profit back.”
You may think:
Haaa, and then users send the money and never receive it back!
No.
After the first payment they do receive the money+profit, but they receive it not because the service is really fair and legit but because this is a psychological technique.
In a couple of days the admin writes to him again, sending the same message but the different amount of BTC - the higher one. Usually it starts from 0.5 BTC. And they promise the same - to send back the money and final profit.
A user, because he knows that last time they sent the money back, feels okay to send them more to receive higher profits. After the second big payment, users usually do not see their money returned.
This Bitcoin pump and dump scheme is “about pumps”, but actually the admins of such groups only claim they have some cryptocurrency advice to share with the audience, but in reality they simply scam newcomers by getting their trust first.
Pump And Dump - The Second Popular Scheme
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The second pump and dump signals scam is really about pumps - the special signals that traders use to receive profits from cryptocurrency trading.
You subscribe, and then start to trade with the help of their signals.
But those signals are not for you!
Ha-ha.
How is this possible?
Actually, it works like this:
The admin, his friends, etc. want to earn some money. They start to promise that soon they will post a huge pump coin. They write the names of those coins, the time of publishing the signals.
Then, before posting the signal, they buy a certain coin at a very low price, and after that, they post the signal.
Usually, such groups have many paid members, because they set low prices or sometimes are even free to join!
The more people buy this coin, the higher the price of it will be because of the increasing demand, which makes the cryptocurrency market to ast and push the coin’s price up.
Very simple.
Let's say coin LINK has a small market cap and a relatively constant price. The group gives a pump signal and indicates the target price. Relatively small injections are enough for the coin to move the price and draw the attention of real investors to it, who will no longer invest in response to a signal.
Only admins and 1% of paid members are lucky to get the profit. Other people earn nothing, because usually pumps are very fast, the coin can gain +500% in minutes, and then it will see the bottom.
And as many traders wait till the coin will cost more, in the end, they are in a huge loss because pump coins are very weak and can not increase with no outside interference.
And you are lucky if the group is free to join and you will not waste your money on the subscription!
In general, here is the plan of their activity:
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The create a Telegram channel with many subscribers (usually more than 50,000);
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They prepare all the important information (rules, instructions for pump signals, etc.);
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They choose the coin to buy - the one with a very-very low liquidity;
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They choose the time of publishing this pump signal;
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They warm up their members (promise high profits from the next pump, write the time of publishing, make many promises, etc.);
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They the channel’s admins buy this coin;
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They post a signal and thousands of people buy the coin immediately;
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Then the price of the coin increases in a couple of minutes;
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Admins of the channel sell the coin and earn profits, and their members are left with a big amount of doubtful coin that will never increase again.
Which Signals You Can Trade With
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Very often we receive questions from users who are very surprised that we list all of the pump and dump channels as “scammers”. We understand that not everyone knows the real sense and schemes of these channels, so we explain everything and advise legit and profitable channels to work with.
Below I will provide you with a list of good and reliable crypto traders who will not only save your money but help you to earn more of it!
Crypto Classics
This is a channel with a team of experienced traders behind. The channel is considered one of the best groups that are listed on Safetrading for more than a year.
These guys offer Binance signals with good quality and quantity. The channel also works with Cornix, which means they support auto trading, and you are not going to miss the signal.
Fat Pig Signals
This channel is also very good, and the signals have very high quality but you will not see 2-3 of them every day - these guys think about quality at first.
Also, considering the high profits, they have quite high prices - you can view the list of them on the Fat Pig Signals page on Safetrading.
Alpha Trade Zone
This is one of the rare channels that operates on Discord. They are very responsible and always guide traders, so as are all the other approved traders listed on Safetrading.
With AlphaTradeZone, you can trade on Binance, Bittrex and ByBit, which means this channel is a good choice for people who like to use leverages.
Crypto Virus
This channel has been listed among the best channels for almost a year but their results show the great demand and desire to be better every day.
With them, you will be able to receive up to 4 spot and futures signals per day to trade on Binance. The prices are one of the lowest on the market, so we consider this channel the best for newcomers.
Onward BTC
This channel is the best for people who trade on BitMEX because Onward BTC are fully focused on signals for this exchange.
The membership fee is very low, and the results of the channel are good. Also, Onward BTC will be a great choice for German people because they are from Switzerland.
Final Thoughts: Is It Profitable to Trade With Pump and Dump Signals?
Today we discussed the process of pump and dump Telegram groups activity. Now you know that there are two main schemes they use to earn money - the first one is a typical but psychologically managed scam, and the second one is the process of how almost all the pump and dump groups work.
We hope that this article will help you understand that pump and dump groups can not give you a permanent source of income, and they will not give you a good trading experience for sure - you will only waste your time and money.
That is why, on this page we list our approved channels not to give the pump channels an opportunity even to be seen by newcomers who can trust their fake results and promises.
With our legit traders, you will be able to form a permanent income and build your own strategy that will serve you successfully for many years.
To remind you one more time, will give you the list of 5 successful channels that are listed on our platform:
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Crypto Classics
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Fat Pig Signals
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AlphaTradeZone
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Crypto Virus
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Onward BTC.
So, as you may say, Safetrading is completely against pump and dump Telegram groups, because the goal of creating a cryptocurrency channel on Telegram is not the admin getting the high income but crypto traders that are guided and helped earning money and getting experience. In this case, pump and dump groups are not a solution.
Guys, we will always recommend you to work only with checked, approved and trusted traders - this will be the biggest happiness for us to see you succeed. Do not believe “1500% profit results” on the public channel - they are posted only to gain your trust. Trading is profitable, but regular experienced traders know about risks, and they will never promise you something or will never claim they have only profits but no losses, etc