The Enigmatic Paid Crypto Group. A Pack of Jokers or Worthwhile Investment?
The Paid Crypto group. Arguably one of the most highly contentious and controversial discussions in Crypto. They have started to raise their (often ugly) heads during recent weeks. The self-proclaimed Twitter OG’s see the re-awakening of ‘noob’ investor interest and many want to supplement those gains with that passive income.
A cacophony of debate rages across the internet resulting in anger, insults, and outrage as a paid group’s monthly fee and their hypocrisy gets leaked to the feisty crypto public.
The ‘good guys’ providing daily free content across social media are left flabbergasted by some of these staggering monthly fees and can’t help but vent their frustrations.
Let’s us review what this enigma is all about.
How does it work?
There are many paid groups available out there, however it’s not always obvious where to look and sometimes these can be difficult to find. They are mainly run by semi-successful traders who regularly post winning trades over platforms such as Twitter. However, they are also advertised on YouTube by some popular Crypto personalities.
Most commonly the paid group is a Discord channel which you can gain access to by paying a monthly, yearly, or lifetime fee. These groups are often open to the public however the “premium” content and channels are only accessible if you’ve paid the fee to the group leader. There are many of these.
One of the ways that they are advertised is by traders posting charts with snapshot from their discord channel after a successful call and trade has been made. These often come with headlines such as “we called this move in our paid group, DM for more info”. Ahhh those magic words…
What’s the deal?
What exactly is offered in a paid group… and what is the benefits compared to the Discord/Telegram channels that are free to join…?
A multitude of educational videos will be available taking you through everything from basic support and resistance to more advanced techniques such as Elliot Waves etc.
– Private Tuition
The group leader will set aside some time to have 1-2-1 sessions for anything from coaching, through to the art of trading, controlling your emotions or just to answer any questions you may have.
Certain members of the leadership team will be constantly scouring channels every day in order to find potential opportunities. When they have found one they will alert the group with a detailed chart outlining the entry zone and stop loss.
There are often rooms dedicated to sophisticated bots that send alerts for events such as a sudden increase in volume on a coin or a percentage increase.
Some ICO’s require a minimum amount to invest. The group leader will often pool enough money together from its members in order to meet the minimum threshold to invest, then distribute the coins accordingly. Additionally, they may also have connections to be able to invest at a pre-sale level.
Some 1:1 time is allocated to you in order to have your portfolio analysed discussing for example, the percentage split of your holdings and the fundamentals of the coins you hold.
I have been part of 2-3 paid crypto groups in the past. The education provided was valuable, but the connections were probably the most interesting part of it all. I still keep in contact with some great guys and girls!
As time passes, you generally find yourself losing interest in the educational aspect and just leaning on the group for signals. Not entirely worth the fee, unless they are bang on the money generally. Many wont be.
A Paid Crypto Group is a mini business and like any business, the service offered can range from good to bad. Some are professional, some are run by clever kids who let their mask slip from time to time and would ultimately dump on the followers if given the chance. I have seen many a ‘chancer’ in these types of groups.
If you have a team of people working many hours a day to provide resources, education and good entries to trade then they have every right to monetize this. Remember, the paid groups succeed because they manage to attract members — if they didn’t, they wouldn’t survive. So it is obvious that there is demand and that people are willing to pay for it.
As a potential customer, you have a number of factors to consider before you decide to take the plunge and pay for one of these groups. It all depends on your personal position in life. Your financial situation etc.
If you are struggling for money and see a paid group as your solution to improving your financial situation but it requires a large percentage of the money you currently generate then perhaps this is not for you.
If you are thinking of joining one then make sure you liaise with the current members first to hear their testimonials and experience.
Like anything in life, it is all circumstantial and you must always do your own research.
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