What is Shilling in Crypto?

Samuel Monse

Samuel Monse

11.11.2022
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In the world of cryptocurrency, shilling refers to the act of convincing others to buy a particular coin or invest in a particular ICO in order to drive up the price.

In the world of cryptocurrency, shilling refers to the act of convincing others to buy a particular coin or invest in a particular ICO in order to drive up the price. Shilling is often done by people with a financial stake in the project, such as the developers or early investors. It can also be done by hired shills, who are paid to pump up the price.

While shilling can sometimes be used to take advantage of gullible investors, it can also be used to generate buzz and interest in a project that has genuine potential. Shilling can be a good way to get people to take a closer look at a project that they might otherwise have ignored.

Of course, there is always the potential for abuse. Shilling can be used to create artificial demand and pump up prices, only for the early investors to sell off their holdings at a profit when the price peaks. This practice is known as pump and dump, and it is considered to be illegal in many jurisdictions.

If you're thinking of investing in a cryptocurrency or ICO, it's important to do your own research before making any decisions. Be wary of anyone who is trying to convince you to buy without providing solid evidence to back up their claims. Shilling can be a sign of an underlying scam.

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