Nowadays,the rate at which many Blockchain dApps are surging is very good but the question is, are they all legit? Can they hold the test if time?
Pumps and Dumps scheme were very popular during the early days of cryptocurrencies especially in 2012 and 2013. Though they are still common but not as many as those early days.
These schemes are designed in such a way that, they receive money from investors who after reading their white paper thinks investing in these Blockchains will fetch them lot of dollars. Sometimes it back fires and they make loses, other times too they make huge profits.
But one thing to note is, if you should invest money in some dump and pump site, know that you do so at your own risk.
Investing in some of these schemes for profit or loses should be on an amount you can afford to lose.
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My advice is, don't invest more than $100. If you see your profit going up from 0.5x then be prepared to cash out or sell as soon as possible. don't wait for it to be 1000x or more rather if it goes up as high as 20x to 30x, then wait no more and cash out to maximize your profit.
Remember most Pumps and Dumps scheme are ponzy schemes who are after investors money and not to provide or double ones money.
NB: this is not a financial advice but rather my own experience.
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