The beginner crypto enthusiasts often lose money in crypto trading due to their lack of a proper strategy. They buy when they have money, not when the market signals are in favor. Crypto signals can act as the right guide and anchor for such people who are not very high in the strategy game but still need to earn some real profit in the crypto market.
What are Crypto signals?
Crypto signals are trading clues. When we are confused about something, we often tend to get an expert opinion on the matter. Similar is the case with the crypto signals. They are trading suggestions provided to the crypto signal service users by the expert crypto traders running such services. Naturally, this comes for a price. But the benefits offered far outweigh the costs of the service.
What information does a good crypto signal provide?
Even while using crypto signals provides a strategy to enter the crypto trading world, not every crypto signal is adequately equipped. A good crypto signal should carry at least the following information:
- The Cryptocurrency – Every Crypto signal is generated for one cryptocurrency only.
- The crypto exchange in question – Crypto signals are exchange-specific.
- Buy-in price – The price at which you should buy the coin.
- Sell-Targets – The selling price of the crypto coin to make a profit.
- Stop Loss – The value at which you should sell to avoid/minimize any losses.
- Portfolio percent – Percentage of the portfolio that this crypto signal is suggesting to trade.
Choosing between Free and a Paid service
Most Crypto signals providers offer both free and paid services. However, free ones are mostly used to establish legitimacy by sharing results from the paid groups and some educational content. A few signals are also given, but they are not as regular as in the paid groups.
How are Crypto signals received?
Crypto signal providers send these signals over their email, SMS, standalone application, or telegram. Over the years, the telegram has outpaced all other mediums to become the most popular mediums due to its obvious benefits of instant notifications and a huge number of people that can be added to telegram groups and channels.
Features of a good Crypto signals provider
Crypto signals become a profitable tool only if you have chosen a crypto signals provider that matches the following criteria.
- It should provide signals for the currency you want to trade.
- Should support the exchange you use.
- It should be affordable.
- It should have a good market reputation with a proven track record.
- It should be very regular in providing signals.
- Such signals should be accompanied by financial analysis showing why the signal suggests what it does.
- Automated trading options should be available.
- It should provide market analysis for major news and events.
Best Crypto signals provider in 2021
There are so many crypto signal providers in the market that it becomes virtually impossible for newcomers to find a legitimate one in the first go. Here’s our list of a few legit and reliable Crypto signal providers that have been giving out profitable signals regularly to their users.
- MyCryptoParadise (MYC)
- HIRN Crypto Free
- 4C trading
- Signals Blue
Crypto signals offer to make crypto investments easy and safe. Even so, the risk always remains due to the crypto market volatility. So, even while you have crypto signals coming to your phone, the last decision is always yours. You should never invest more than you can afford to lose.