Initially, I wanted to write a full article detailing how "pump and dump" works and why it's important to be educated about it. But then I stumbled upon an excellent article, which not only explained it how it works, but also made a nice report over a few relevant pump and dump groups, what's really happening there and why you should be extremely cautious about it.

So this is basically just a shoutout to that article. If your are serious about cryptocurrencies, then spend 15 minutes reading that piece, because it can literally save you tons of money.

Just a teaser:

• pump and dump groups are basically market manipulators - you don't want to do that
• a pump and dump usually lasts a few minutes
• 90% of people inside those groups are losing money
• there is a strict hierarchy in some of these groups, with affiliate systems and MLM-like denominations (Minister, Ambassador, Top Promoter)

An interesting thing is that the vast majority of these groups popped out only in the last two months.

Steem on and stay safe!

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

	I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards