Why You Should Ignore the Cryptocurrency Trading Troll Box

Well, there a few good reasons to ignore troll boxes on exchanges.

If you pay attention to trollbox, the first thing you’ll get is a constant live feed of edgy traders’ banter. Then there are frequent attempts to shake people out by spreading FUD (Fear, Uncertainty, Doubt), making them doubt their decisions and considering selling their coins. So, if someone is speaking poorly about certain coin, the chances are they are looking to buy it. Of course, there always a small possibility that they are speaking the truth, but that shouldn’t be too hard to check online.

On the other hand, some people are spreading the hype about certain coins, announcing its price will go to the moon and such. Then the traders get so-called FOMO (The fear of missing out), so they often decide to buy the coin. If someone is speaking highly about the coin, again, the chances are they are looking to sell it.

The same goes for those who are announcing new pumps and dumps (massive buying or selling of certain coin). In the majority of cases, things go the opposite way.

Then there are those who are complaining about their support tickets or are spamming with certain fake news just to trick the rest of the community into buying or selling a coin.

The catch with trollbox is that everyone has some agenda. There are a few rare good Samaritans out there, and naturally, your chances of bumping into them online are rather slim.

So, you should ignore the trollbox if you’re new to this whole cryptocurrency thing or if you’re uncertain about your investment decisions.

Of course, like in every story, there’s that other side – a trollbox is often the heart and soul of the exchange. Without the trollbox, things are just not the same. The best example for that is Poloniex, which isn’t the same exchange without its trollbox, which was once the most famous trollbox in the entire cryptocurrency space.

I told you why you should ignore the trollbox, because that was the question, but I have to say that I was often able to get some useful info from other traders there and be better informed about the situation in the market.


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