There are several ways for traders to make money on cryptocurrency. One of such ways is to make money on pump and dumps. This way has its pros and cons. Experienced users protect their wallets with additional tools like Bestmixer. Learn more about them in this article.
What you should know about Pump and Dumps in Bitcoin
When using the main cryptocurrency system, you need to understand that its anonymity is not complete, so needs additional help. Professional use bitcoin shuffle to mix their coins and make tracking impossible. Anyway, those who want to make money on a cryptocurrency quickly and huge amounts are engaged in pump and dumps. The essence of such processes is simple:
• A group of people on the stock exchange is buying up assets in large volumes. As a result, the price starts to grow
• The same group of people begins to raise an artificial HYIP around the purchased asset, in order to attract as many users as possible to purchase it too, which further increases the price
• At the peak of the highest cost, the leaders throw off coins together at once. In this regard, the price drastically collapses, and all those who purchased, remain with the depreciated asset.
There are several ways to make money on Bitcoin, like it is possible with usual currencies, for example, trading or pumping and dumping. However, sometimes such methods are too risky, too expensive or just difficult to provide. In any case, the attention of the user should be on the safety of transactions, to protect and save all funds from hackers. Experienced users understand the importance of using such additional mixing tools like Besmixer.