Hello everybody
In this article, I'm going to show you yesterday's pump of the coin Genesis Vision (GVT). It was my first time, and I was not sure whether participating or not because I wasn't sure about its legitness or effectiveness, but then I decided to participate and now I'm writing my results.
N.B: Before you continue reading, please notice that you should not invest any money if you really need it. Instead, you should use some of your savings that won't affect your primary needs: you don't want to get into debt!
So, a friend of mine, @mrshinzen, got me into cryptocurrencies' world, we talked a lot about it at school and I learned a bit about investments thanks to him (check him out, he has got useful and interesting articles). He made me discover about pump and dump and groups that organize them and so I decided to try my luck. Yes, luck, because it's not like investing properly and gradually, but trying to earn money in a small amount of time (we're talking about seconds!).
N.B: Pump and dump used in this article have not the same meaning as the financial one because organizing a collective purchase of a coin is not illegal, unless you spread fake news.
I joined this Telegram Channel, BigPumpSignal, and waited for the next announced pump as in the picture.
I wouldn't have known the coin until the announced time, so I had to be very quick on searching the coin on the exchange platform.
When the coin is announced, it will be shown together with its price in BTC and ETH and a hypothetical goal that the coin should reach.
The admins of the channel usually give some pro tips for the pump like "If we set a goal, try not to buy above that goal" or "Put limit sell orders", so that you won't, theoretically, lose a lot of money.
The time had come, the coin was posted and, after a few seconds from the announcement, I searched for the coin in the exchange website used for most of the pumps of this group, Binance, and noticed that the coin was raising a lot, maybe too much. I quickly bought at the market price (I've lost many seconds here because the price was rasing that much that I couldn't buy the number of coins set by my price in less than a second). When I finally bought my GVT, I sold them as fast as I could, and this is the result:
I had lost too much time to buy it, so, unluckily, I had bought it at one of the highest prices, and in just 6 seconds I had lost money. Not too much, I decided to invest just a part of my investments so that I wouldn't lose any money.
Still, I lost money in just a few seconds. I'm not concerned about my loss, but I think "What if somebody had invested a lot of money trying his luck and unsucceeded?" "What if that man/woman was using his/her personal savings of his/her entire life?"
The result of the pump, however, was really positive:
As you can see, when the pump occurred, the value of the coin increased dramatically: it went to a high of 0.035952 ETH and people was able to sell it at 0.037020 ETH. A lot of people bought in low and sold high, which means that they were able to earn some profit.
Unlucky me, I wasn't able to earn any profit at all and I'm not sure if I'm going to participate in any other pumps, but I will invest in other coins.
I may have said something really stupid without even noticing, but I wrote this article as a newbie of this sector, telling you my personal experience. Also, I'm currently studying English (I will talk about it in my introduceyourself article) so I'm sorry for my possible errors.
It's all for now, let me know what you think about it and be sure to follow me for more articles like this and more!
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