10 Best Crypto Trading Signals

In the previous few years, few things have had such a profound effect on the financial world as cryptocurrency. While traders are interested in crypto assets because of the investment opportunities, technically-inclined individuals love the technology behind them. They can potentially transform how payments are made worldwide. Novice traders may face some trouble finding the right trades in the beginning, but fortunately, there are several services providing cryptocurrency signals. Here, we are going to discuss some of them in detail. 

What are crypto trading signals?

They are trade suggestions provided by expert analysts which tell you when to purchase a particular coin and at what price. These experts carefully sift through market data and research the price trends of an asset before sending out a signal. These suggestions can be delivered via multiple mediums and in various formats. They are particularly useful for those who wish to know more about the crypto market. 

Who generates crypto signals?

There are mainly two types of signals, manual and automated. Although crypto is a relatively new introduction, its widespread popularity can lead to the rise of several experts. These individuals have analyzed the price behavior of the coins for many years, and this makes them qualified for generating signals. Automated signals involve a computer program replacing the analysts, performing automatic analysis of price action based on preset instructions. 

Are crypto signals important?

If you wanted to trade in crypto coins by yourself, you’d need to conduct extensive research on your own. Also, due to the volatile nature of the market, prices keep changing rapidly. As such, you need to monitor the charts frequently, if you wish to stay updated. With trading signals, you can make prudent decisions without worrying about monitoring the market all the time. Thus, they are quite important for traders.

How to choose the best services?

Choosing the best service is not as easy as it sounds. There are several scam services that offer poor signals for a high price, looking to cheat merchants. You need to gather the maximum possible information on the provider, including their reputation, trading performance, price, and strategy. 

What should you look for in a crypto trading signal service?

A reliable crypto trading signals provider should have a decent reputation, with several reviews from satisfied customers. You should look for live statistics verified by third-party websites and study them to make sure the signals are capable of generating steady profits. Another thing to look for is transparency. The company you sign up with should not attempt to hide any information about itself or the signals.

How to read crypto signals?

These signals will tell you which coin to purchase. You will also get the buy price and the sell target. There will be a stop loss whose function is to minimize losses by allowing you to exit your positions. The buying price may be provided in the form of a price range and this will let you find the most lucrative point to enter the market. The suggestions also come with take-profit targets.

How to start trading with crypto trading signals?

Once you receive the signal, you should carefully consider what percentage of your assets you wish to invest. Take into account the suggestions provided by the expert, and also perform your own research. You should only use the exchange specified in the signal for carrying out the deal. 

Difference between trading signal and alert

Trade alerts are notifications sent by an automated system or a human trader when the specifications of a user are triggered. When the market conditions change, or the prices shift, or when there is a major economic event, you get alerts that notify you about profitable opportunities. Signals, on the other hand, specify the technical details of the trade, i.e. entry price, exit price, take profit, stop loss, etc.

Crypto trading signals: top choices reviewed

There are numerous services providing paid as well as free crypto signals. They have different features, pricing plans, and signal frequencies. As such, before choosing one, you should take a look at what the top services in the market have to offer. 

How to choose the best Bitcoin trading signal?

In order to choose the best crypto signals, it is not enough to know about the different service providers. There are several factors that you need to take into account before making a final decision. These are the factors that set a reliable service provider apart from a fraud one. Here, we shall take a look at the various factors and discuss each of them in detail. 

Entry price

Although there are both paid and free services available, the former is considered more reliable. When you pay a certain amount every month for the signals, it motivates the analysts to do extensive research and identify the best possible trade setups. Remember, free services often turn out to be scams. 

There are a few free services that are legit, but most of them run pump and dump schemes. This involves the fraudsters purchasing a certain coin in bulk amounts prior to generating the signal. This would drastically enhance the asset’s value, after which they sell all their assets, leading to a sharp price drop. 

Trial

For novice traders, it is unwise to subscribe to an expensive signals service. These individuals don’t have too much market knowledge and because of this, a free trial plan is beneficial for them. With a free trial, you can test the profitability of the signal without investing too much money. Once you are sure that the signals lead to steady profits, you can subscribe to one of the paid plans. 

Time frame

One of the most common mistakes crypto investors make is that they don’t check the time zone of the provider. Trading in crypto is a time-sensitive affair because the prices keep changing so frequently. So if the provider’s time zone does not match yours, by the time you receive the signal, the trading opportunity might have passed.

Source of signal

Since a reliable provider never offers their services for cheap, it only makes sense to find out how the signals are generated. You should carefully study the trading strategies to make sure the analyst conducts adequate technical and fundamental analysis before sending the suggestions. A professional analyst who considers both types of analyses is likely to provide profitable signals.

Trading performance

This is one of the most vital factors to consider before selecting a signals service. There are some providers that promise unrealistically high win rates and you should steer clear of them. Make sure the amount of profit generated by the service exceeds the losses suffered. A reliable provider does not make too many tall claims, rather letting the results speak for themselves. 

Trading strategy

Various signal providers have different types of strategies and your choice should depend on your requirements. Normally, analysts use technical and fundamental analysis for generating the signals, but some of the strategies might not suit your needs. For example, short-term strategies are not ideal for traders who are looking to earn long-term profits. 

Good broker

Your trades will always be executed through a brokerage platform, regardless of the nature of the signals provider. For your trading operations to be successful, the broker must be reliable and possess a good reputation. No matter how profitable the signals are, you can lose your trades if you execute them on an unreliable broker platform. A decent brokerage that has advanced features and supports automated trading enhances the efficiency of the signals.

Reliability of the core team

A reliable service provider should have a team of experienced trades working behind the scenes to ensure the robustness of the signals. As such, you should carefully examine the details of the team, making sure they have the required experience. 

Customer reviews

Any decent service should have tons of user reviews supporting it. You should visit third-party websites and check the average rating.

Are crypto trading signals worth it?

If you are wondering “is crypto signal legit?” there is no need to worry. While there are some scam services on the market, you should be able to filter them out by considering the various factors mentioned above. A signal generated using proper analysis techniques has the potential to be profitable. 

Conclusion

As you can see, you can potentially make large profits by signing up with a trustworthy provider. Whether you are a novice or an experienced trader, you can get some much-needed advice from the experts. Some of the platforms have large trading communities where you can interact with other individuals and discuss trading ideas.