If you’re reading this, the chances are high that you’re not a very experienced crypto trader, trying to make some profit by holding on to signals from seasoned crypto traders.
Cryptocurrency trading signals aren’t exactly new, they’ve been around since cryptocurrency trading to help newbies around. With the prevalence of dishonest groups peddling crypto signals, it’s hard to trust anyone offering this service.
Completely ditching crypto signals because a few scammers exist out there just doesn’t sound right. With some research, you can easily tell scammers apart from legitimate crypto traders.
In this article, I’ll show you some of the warning signs of dishonest crypto signals service providers. If you’re not willing to spend time researching, you can use any of my recommendations towards the end.
What are Crypto Signals?
Newbies in cryptocurrency trading typically find it difficult to make effective trading decisions that bring profit. To make up for this, they receive trading instructions from expert traders to buy and sell their coins at a specific time, or when it reaches a specific price.
These instructions are referred to as cryptocurrency signals. Cryptocurrency signals provide for an easy entry into the cryptocurrency industry without needing to learn all the technical terms associated with trading crypto.
Crypto signals can carry lots of trading information to help cryptocurrency traders make decisions. With the right signals, you can make a lot of profit trading crypto quite effortlessly. However, basing your trading decisions on amateur signals can also break your trading portfolio, causing excessive loss of money.
While crypto signals simplify the process of getting into cryptocurrency trading, they’re not an excuse for neglecting the technical aspects of the trade. To become a successful and highly-respected trader, you must learn to make some decisions, independent of any signals.
However, if you won’t be having time to monitor the market or make technical analyses, using crypto signals will be a smart way to keep making trades without wasting too much time.
It’s important to know that not all crypto signal services are profitable. Some aren’t even by expert crypto traders; they’re only randomly generated by computer software with no regard for news and other unexpected market updates.
Therefore, you must do your due diligence before paying for any crypto signal service on the internet. Alternatively, you can use our recommended crypto signal service which we’ll unveil below.
Why are Most Crypto Signal Services on Telegram?
There are many ways to receive crypto signals after paying, but the most popular platform by far is Telegram. Telegram is a popular instant messaging app that allows for groups, channels, and private chats.
Telegram has the most robust group management tools of any instant messaging service available right now. By using Telegram, administrators can provide crypto signals with ease without worrying about any disruptions from spammers within the groups.
Also, most crypto traders already interact with bots on Telegram. Almost all crypto traders are on Telegram already, and it’s only natural that most crypto signal services are primarily hosted on the platform.
However, Telegram isn’t the only source of cryptocurrency signals on the internet. There are crypto signal services that send updates to subscribers via email and some use alternate instant messaging apps like WhatsApp.
If you’re paying for crypto signals, you should be able to get the signals delivered to your favorite instant messaging platform. This is because most paid crypto signals are flexible and they deliver to most platforms, as long as it has an audience of cryptocurrency traders.
Types of Crypto Signals
There are many types of crypto signals differentiated by categories. In this section, we’ll look at some of the categorizations of crypto signals and the subtypes under each category.
- By Price
If you’re remotely interested in cryptocurrencies, you should already be bombarded by ads inviting you to join groups that provide crypto signals, either for free or at a price. There are two types of crypto signal groups under this category: the free ones, and the premium ones that you pay to get.
- Free crypto signals
If you’re looking for groups that provide trading signals for free, your options are pretty limited. However, that doesn’t mean they don’t exist. There are many free crypto signal services on the internet, but the quality of their signals is something to worry about.
If you’re serious about trading cryptocurrencies for profit, you should generally refrain from using the free crypto signal services available on the internet. They don’t offer similar levels of quality as paid signals, and some free signal groups steal directly from more credible paid signal services.
- Paid crypto signals
Just like every other paid service, paid crypto signals are naturally superior to their free counterparts for many reasons. Firstly, no expert will make trading decisions for you for free; so, you can only access an expert by using a paid signal service.
Most paid crypto signal services don’t charge extraneous amounts of money for registration. You can register for as low as $600 to access expert-level trading inputs to supercharge your crypto trading experience.
- Mode of Generation
In this respect, there are also two types of trading signals: automated and manual. These two modes of crypto signals generation differ wildly, and here are the differences between them in detail.
- Automated Signals
Automated trading signals aren’t generated by trading experts. Instead, they’re generated by computer software trained to make specific trading decisions using specific parameters.
There are many free automated signal services, but most quality ones are paid. For maximum returns on your crypto investments, we don’t recommend relying on automated signals exclusively.
- Manual Signals
Manual trading signals work very simply. They’re not generated with any complicated computer software. Instead, they’re generated by cryptocurrency experts who have a history of making winning trades.
Manual signals groups are usually a union of more than one crypto trader, and they decide on the best trading decisions for particular times. Manual signals account for factors that are impossible for automated signals to consider, giving them a higher success rate.
When you subscribe to a paid manual signals service, you typically get the updates via Telegram, WhatsApp, email, or some other popular instant messaging program. Without ever needing to analyze the market yourself, you can initiate winning trades.
How to Read Crypto Signals
Unless you’re already well-versed with crypto investments, you may find it somewhat difficult to decipher the contents of a crypto signal. If this is true for you, here’s a quick guide on how to read crypto signals to take action on them quickly.
The average crypto signal contains a set of actionable instructions that help you decide what to buy and when to buy it, amongst other inputs. Below are some of the most important information in any crypto signal and how to read them.
- Cryptocurrency
In a crypto signal, there is usually a cryptocurrency instruction that tells you what cryptocurrency to buy.
- Buy/Sell
The buy signal instructs you to buy the cryptocurrency specified at the cryptocurrency part of the signal. The buy instruction may be to buy at the current market price (CMP), but it may also be a pending order.
A pending order instructs the trader to buy the cryptocurrency at some point in the future when the price hits a specific target. If it’s also a sell instruction, you should sell the crypto asset once the price lands on the predetermined mark later.
- Stop Loss and Take Profit
Signals also contain stop-loss levels that instruct the trader to close the trade once a specific condition is met. This price may be static or dynamically adjusted to reflect market realities, minimize risk, or maximize profit.
How to Choose the Best Crypto Signals Service
With the increase in the popularity of cryptocurrencies, crypto signal services have also grown increasingly common. Now, there’s such a huge selection of crypto signal services that it’s hard to tell which ones are legitimate.
You should already know that searching Google is one of the worst ways to choose a crypto signal service provider. That way, you’ll be subscribing to the best SEO and not the best cryptocurrency trader.
Before paying for any crypto signal service, here are some things to look out for maximum profit and minimize risk with your investment. Remember, you’ll be paying with your crypto if you choose wrongly.
- Research the service.
Before paying anyone to join a crypto signal service, it’s important to conduct some research to ensure that you’re getting your money’s worth.
You should note, however, that an unpopular cryptocurrency trader isn’t unnecessarily bad. If you’re looking for someone with glowing reviews all over the internet, you’re probably looking to pay hundreds of dollars to a PR expert.
- Consider the price.
While a free crypto signal group may look enticing, it may be even costlier than a paid one. Of course, you may not understand this if you’ve never sustained losses due to poor trading decisions from equally poor crypto signals.
However, paying thousands of dollars for a no-name crypto signal with no assurance of making a profit isn’t also a very economical decision. To avoid losing money, either way, it’s important to pay what you can afford for a service that’s reviewed favorably by members.
- Support
You shouldn’t pay for a crypto signals service if you don’t have a reliable way to contact the providers behind the service. Ideally, there should be 24/7 customer support ready to answer any questions you might have regarding the platform.
Best Crypto Signals Telegram and WhatsApp Groups
The best platforms to get crypto signals are WhatsApp and Telegram for obvious reasons. Firstly, most people use either of these instant messaging platforms to communicate daily and they can get the signal updates as soon as they land.
However, in the sea of crypto signals available on WhatsApp and Telegram, finding the best crypto signal groups can be much like finding a needle in the haystack.
While there is a template for finding great WhatsApp groups providing crypto signals, it’s still tasking. Instead of subjecting you to the task of conducting research, we’ve done that for you. Here are some great crypto signal groups on Telegram and WhatsApp worth your time and money.
CryptoGurus
After conducting extensive research guided by the factors to consider when choosing a crypto signals group, CryptoGurus came up as the best group for cryptocurrency trading overall.
With a hardworking team of expert crypto traders working tirelessly to spot the best trading opportunities on the market, you can never go wrong by betting your crypto on signals from CryptoGurus.
CryptoGurus is also backed by a dedicated support team ready to answer your questions every day of the week.
After payment, you’ll have access to
Private signal group
After payment, you will be added to a private signal group where coins are called from entry to take profit to exit and even stop loss were needed to safeguard capital.
Exchange group
You’ll also be added to their exchange group where you can buy and sell coins with more than 2000 legit traders.
Traders chat room
A private group where market issues and updates are talked about.
All of these benefits come with a $600 subscription. Tap HERE to make the one-time payment and start trading like a pro today.
Conclusion
There are numerous Telegram and WhatsApp groups that offer crypto signals, both for free and at a price. While it’s clear that paid crypto signal groups are better, jumping at any paid signal group is unideal.
From our research, you can’t go wrong by going for CryptoGurus. It is a $600 crypto signals group that delivers signals via WhatsApp and Telegram with 24/7 support.
Unless you’re willing to lose money occasionally, you should always stick with CryptoGurus.