Trading signals for cryptocurrencies: reviews, features, providers, reliability. Is it advisable to use cryptocurrency signals?
Trading signals in financial markets, including cryptocurrency exchanges, are informational messages that suggest optimal entry points for speculative players. In addition, they are used by traders to timely close active positions and minimize the resulting losses.
More recently, the use of trading crypto signals was relevant only for the binary options market area, as well as for Forex, however, cryptocurrency traders began to use them too. For constantly working speculators, timely incoming signals for cryptocurrencies allow them to profitably acquire, quite effectively hold and successfully sell the demanded coins, earning on the price difference.
Let’s analyze the key nuances inherent in cryptocurrency trading signals. Let’s analyze some aspects of their application.
Overview of the features of signals for cryptocurrencies
As a rule, cryptocurrency trading signals are posted on narrow-topic, specialized web resources or in separate social media channels. These broadcasted warnings are roughly divided by specialists into types:
✅ Free channels (open). The signals published in these channels are completely free, which is why they are used in trading by all speculators who make money trading Bitcoin or other altcoins.
✅ Conditionally free channels. Signal messages of this type are also used by every trader in their work, but they are available exclusively to registered users who have signed up for an account on a specific service.
✅ Trading signals are closed. This information is paid and the provision is determined by the terms of analysts, for example, single consultations or a limit subscription. The price is determined by the qualification and experience of the analyst providing trading signals.
Important! You should take into account the riskiness of any crypto signals, regardless of their origin. Even top-rated agencies are not able to provide information for opening only profitable orders. It is always necessary to assume some proportion of losing orders!
Services-channels are constantly emerging on the vastness of the World Wide Web, which distribute trading signals for cryptocurrency traders. Their appearance and quality of activity, as a rule, are thoroughly commented on on thematic resources.
It is necessary to separately mention an interesting, useful fact – providers of paid trading signals for crypto-exchanges allow their own clients to earn extra money through referral programs. It is possible to receive a significant discount on any subscription, as well as receive bonuses if you attract new users to the service.
Crypto Signal Information Providers
All trading signals for cryptocurrency trading have a lot of distinctive parameters that depend on the disseminators of information. The most high-quality data is provided by direct suppliers (successful crypto traders, professional analysts) who scrupulously study the current market situation through technical techniques, as well as fundamental assessments. Direct suppliers traditionally supply signaling information mainly for the most popular crypto coins, for example, ethereum, bitcoin, dash, litecoin, etc.
Many vendors specialize in one or two virtual currencies. Here, of course, the most reliable information for cryptocurrency traders is obtained, since only a few coins are thoroughly studied by several specialists and there is no loss of even the slightest information. Sometimes such nuances are key when trading.
Trading signal channels provided directly by primary suppliers typically contain the following data variants:
✅ Entry points. A trading speculator, using the data, must quickly conclude transactions in the indicated directions. These signals are most often intended for users who practice short-term trading.
✅ Recommended tips for short-term cryptocurrency investments. In the channels, information is provided daily up to 2-3 times. A trader who wants to make good money does not need to immediately purchase a digital asset here. The point of entry into the crypto market when generating a signal can be further analyzed.
✅ Tips for Medium Term Investments. Analysts here deliver a maximum of 1-2 signals per week, however, such recommendations are thoroughly worked out and repeatedly confirmed.
✅ Exit points from the cryptocurrency market. Investors who have opened medium-term and short-term transactions must fix their profits in a timely manner, therefore, exit the market should also be wise. Few crypto traders use these sources, which determines the rarity of channels that supply this information.
The second option for channels that provide signals for cryptocurrency traders are indirect providers. Often they are people who do not professionally specialize in market analysis. These are usually regulars of thematic communities or subscribers of paid channels, leaving self-generated information in the comments. There are really unique strategies, the developers of which share useful, high-quality information.
Nuance! Most of the indirect providers of Trading signals do not analyze market or news data on their own, but simply rewrite professional recommendations previously obtained from specialized sources!
For indirect channels, as a rule, there is an important advantage in the cost of issued crypto-signals for trading. It’s relatively cheap for subscribers.
Reliability of crypto trading signals
Many professional traders reasonably believe that the overwhelming share of trading signals issued by free channels is characterized by an insufficient degree of accuracy. This is due to the disadvantage of disseminating the results of competent analysis by a person who has necessarily spent time, effort and applied specific knowledge. This assumption is real. An exceptional situation is with free signals for crypto trading from young, so far little-known analysts. In this way, they form a positive image and advertise themselves.
In fact, almost 72% of providers of free information for trading do not carry out a full analysis of the cryptocurrency market. In view of this, the use of Trading signals data is fraught with significant losses due to the wrong opening of orders.
In fact, the situation even with paid channels is not ideal due to the relative youth of the digital money market, the specifics of assets and the rapid development of cryptocurrencies. Today, many thieves with scammers turn to this area in order to cash in on traders who have unsatisfactory knowledge of the blockchain, the altcoin market and other special moments.
A lot of cheaters appear to be analytical experts who make money on paid signals. They lack important skills or professional experience. They cannot competently analyze the market situation, which is certainly expressed in the scanty quality of the information provided. The level of accuracy here is similar to the usual information provided by free channels. If this information is actively used in trading, then operations for the most part will occur at random. At the same time, users pay for a subscription to disguised scammers.
However, for the sake of objectivity, it should be noted that, in fact, there are enough channels on the modern market, the qualified analysts of which regularly generate high-quality Trading signals. The big challenge is identifying a good pay channel in a timely manner. Sometimes you need to “try” a number of crypto trading signal providers and incur some losses in order to find a really high-quality channel.
Feature! It should be remembered that even the supplied signals from professional analytical experts always have some margin of error. The use of data from a paid channel will never allow you to conclude extremely profitable transactions on cryptocurrency exchanges!
Now, doing cryptocurrency trading, you can make money on a regular basis. It is important to speculate competently and make decisions on transactions carefully, based on reliable data. There are specialized channels for traders, analysts of which issue various trading signals for cryptocurrencies, the reviews of which are not bad.
It is necessary to identify exclusively professional channels and intelligently navigate the information coming from them. Of course, the success of trading is multiplied by one’s own ability to conduct technical analysis, as well as the ability to use fundamental factors in assessing the crypto market.