Pumps and Dumps in the crypto world are something we are often seeing happening only only with more established and popular coins, but also with crypto coins that you may not have even heard of. We are not big fans of actions like these as they are used to help some people make even more money out of unsuspecting users. Normally regular users have absolutely no idea when and what a pump and dump may happen, so they can hardly profit from them, but what if you can join and make some profit as well? Here comes CoinData, a cliometric based trading tool that tracks trading volumes on the exchanges and helps you signal when a pump and dump might happen. With it you can see the whales’ trading intentions through the volume they trade: buy / sell walls appearing / disappearing, preparing to pump or dump the actual coin you trade.
You can track trading volumes or crypto coins or buy walls appearing manually, but tracking even a few of the top coins on a single exchange might be hard enough, let alone doing it for all and on multiple exchanges. That is where CoinData comes with help by giving you up to date information on all coins traded on Poloniex and Bittrex (for the moment) and giving you signals when a coin is probably going to be pumped up or dumped, so you can make the right move and buy or sell. The service also reports on when a buy wall appears as this is usually a sign that a pump can soon be happening, making the coin interesting to monitor. To make things easier you even get real time notifications to help you keep track of what is happening when you are not watching the tables with trading data.
Do note that the service provided by CoinData is not available for free, there is a subscription fee that you need to pay in order to access real time data. There is a 1 day and 10 days trials available to try out the service as well as 30 days and 60 days regular subscription available should you decide to keep using the service after you try it out. We are currently testing it and so far our initial results are more positive than negative. Be wary that some of the signals you get may not turn out to be real pump and dump and sometimes you might still end up losing instead of winning by getting into the game, so be careful should you decide to get in with larger sums. On the other hand if you trade with too little coins, then the subscription fee you pay for the service might not be worth it if you are unable to profit enough to even cover it.