Cryptocurrency trading has seen a monumental rise in the past few years, especially in 2020, when millions of investors added crypto to their portfolio. The crypto market gained a significant market cap, solidifying its image as a reliable financial investment. Many people even term cryptocurrency as the future, and rightly so! However, many traders struggle with crypto trading due to its round the clock action, high volatility, and overall sensitivity to actions outside of the crypto realm.
In a market that is so active, generating constant profits without understanding the dynamic is virtually impossible. This is where crypto signals come in. In layman terms, crypto trading signals are a set of instructions, which can help the user trade effectively. These crypto signals are used by beginners and experts alike, as they often provide incredibly vital information that can help traders book serious profits.
This article will detail what crypto trading signals are, how they are beneficial to traders, and how you can use them. Moreover, we will name a few of the best cryptocurrency trading signals available in the market to help you make the right choice for your crypto trading needs.
What Is A Crypto Trading Signal?
As we stated above, crypto trading signals are a set of instructions that may help traders trade certain cryptocurrencies to book profits. These signals are either generated by professional traders that send them out manually, or by bots or trading algorithms that execute these trade signals automatically. Most crypto trading signals will come with an action price, take profit price, and stop-loss price.
As the cryptocurrency market is active round the clock, many traders prefer automated trading through these algorithms to trade consistently, even when they are not readily available. This is also because most professional signal providers follow a limited number of strategies, while the possibilities with algorithms are endless.
These crypto trading signals are generated after considerable analysis of the market, taking into account the past and probable future events. These crypto signals help traders make the right decisions, steering them away from mistakes that might bring in losses. These cryptocurrency trading signals are highly beneficial for beginner traders, as they often misunderstand the market dynamics and trade on the wrong coins at the incorrect price. This is why one shall leave trading strategies in the hands of experienced and successful traders.
There are many ways through which traders receive these crypto signals. However, nowadays, many platforms allow traders to directly copy experienced traders’ strategies through manual portfolio copy or automated trading algorithms. The process is known as mirror trading or copy trading.
Importance Of Quality Crypto Signals
By using quality crypto signals, traders can better manage their crypto investments and book good profits. Perhaps the most vital importance of these cryptocurrency trading signals is helping traders of all kinds make good trading decisions. Beginners can use these signals to get started with their trading journey and trade effectively. Expert traders can use these signals for different cryptocurrencies to expand their portfolio.
Moreover, by using these signals, traders can understand how essential it is to use ‘take profit’ and ‘stop-loss’ values into consideration, which most traders do not. Since many signals rely on online chatter, insider information and other related factors, these signals can help traders access information that may not be readily available to an average trader. Crypto signal channels, especially those that are premium, are excellent sources of such helpful information.
While these crypto trading signals save traders a lot of time by doing analysis beforehand, it also saves many traders from the widespread issue of analysis paralysis. In analysis paralysis, traders often get caught up in extensive research and analysis to act effectively that they fail to act in time to book profits. Many traders face this issue, and crypto trading signals eradicate this problem altogether.
In toto, crypto trading signals offer the users an opportunity to learn about crypto and earn through it simultaneously. If you choose from the best crypto signal provider, you can surely take home serious profits. Choosing from the providers of the best crypto signals is essential, as not selecting a quality crypto signals provider may take you in the negative sooner than you think.
How Do Crypto Trading Signals Work
If you are using a manual crypto signal provider, you may receive it on your email or any other platform chosen by the provider. In manual mode, crypto signals need to be transmitted in a timely manner to be able to be used effectively. If you are using an automated crypto signal provider, then it will be a simple execution in your strategy. Before you look for the best crypto signal, here is a small example of how a crypto signal works.
Let’s take an example, where Bitcoin is trading at $50,000 per coin. The signal provider believes that the price may increase in the next three hours and therefore generates a signal. The provider shares a signal that you should buy Bitcoin at $50,000 and exit when it reaches $53,000 (profit price). However, if it reaches $49,000 (stop-loss), you should exit as well.
As seen above, each crypto signal should have the following elements:
- Action: The action should inform the user if they have to buy, hold or sell a certain cryptocurrency
- Cryptocurrency: The signal should be clear about which cryptocurrency or currencies should be traded
- Price: The action prices should be crystal clear and should be told in advance
- Take Profit and Stop Loss: If you are buying a crypto coin, the take profit price and the stop-loss price should be informed to the user, as holding for prolonged times can result in losses.
- Additional Information: Many signal providers often execute complex strategies to take as many factors into the mix as possible so as to book reliable and consistent profits. This additional information can really make or break a signal.
A general crypto trading signal should have a buy price, an exit or a profit price, and a stop-loss price. However, many traders also made elaborate signals that take into consideration many more factors and thus execute trades proficiently. Therefore, choose a signal provider wisely, with as many details as possible, to ensure better returns. Many crypto trading signal providers also keep you updated with the latest news and industry insights.
Below are different and the best crypto signal providers in the market, so read carefully.
Types Of Trading Signal 2021
Finding the best cryptocurrency signals is a tricky task, as only the best crypto signal providers can help you with the same. Therefore, we bring you some of the top free and paid crypto signal providers that you can review for your crypto trading.
Free Crypto Trading Signal Providers
Free To Use Telegram Groups
In recent times, the cross-platform messaging app Telegram has become a hub for the best crypto trading signals out there. This is majorly due to the sheer number of people on the platform looking for crypto trading tips. On Telegram, dissemination of information is relatively easy, and it has now become a preferred channel for the same reason. While there is an abundance of information about crypto trading signals on Telegram, both through free and paid groups, here are certain free groups that you can use.
- MYC Signals: This is one of the top Telegram groups in terms of crypto signals and offers free and paid services. The free group has a lot of members, and you can get Bybit, Binance, Kucoin and Bitmex signals.
- Binance Premium Signals: Binance premium signals is free for all group that provides crypto trading signals that can be used on the Binance platform. While it may not be that high quality for serious traders, it is an excellent place for beginners who are just entering the crypto arena.
- Beincryptocommunity: BringCryptoCommunity is a trading community managed by trading veterans. It delivers crypto signals and other helpful information to traders and often conducts workshops as well.
Zignaly is a free-to-use trading platform that offers features such as copy trading, automated trading bots and an extensive trading terminal. Users can either trade from pre-made trading strategies created by expert traders or automate their own crypto trades with the help of multiple available technical indicators. The platform is equipped with Dollar-Cost-Average Strategy Rebuys, Stop Loss, Trailing Stop, and many more.
100eyes is a free crypto market scanning application that alerts users about essential news or events that can influence the crypto market or a certain currency. This is a free-to-use platform that sends alerts with a custom-tailored chart to help the user understand the news better.
Best Paid Cryptocurrency Signal Providers
Mudrex allows users to copy the trading strategies of other users, which automatically send and execute crypto trading signals. These strategies or bots are 100% automated, which means you can just invest once, and then the bot does the rest. There is no platform usage fee; however, users will have to pay a nominal amount whenever they invest in a bot. These bots are spread across various cryptocurrencies and exchanges and can help traders expand their crypto portfolio. You can also build, backtest and publish your own strategies and signals with Mudrex without writing a single line of code.
TradeSanta, much like Mudrex, is another platform where you can invest in pre-made strategies and automate their trades. Some of the available bots are DCA bots, Grid Bots, and Smart Orders, helping users trading in all sorts of cryptocurrencies and volume effectively automate their trades. Users can also opt for automated trading, where they can build their own trading bots with custom signals and features. The platform has a membership fee, with various plans available depending upon the trader’s requirements.
Verified Crypto Traders
Verified Crypto Traders is an online crypto signals platform that provides high-quality crypto signals over Telegram. With the premium channel, you can receive detailed analysis, recommendations and personal support for your crypto trading. The group offers premium plans for one month, six months and twelve months, with coin payments accepted as well.
Top Crypto Trading Signal Providers 2021
|Feature||TradeSanta||Mudrex||Verified Crypto Traders||Zignaly|
TradeSanta is a cloud-based marketplace for automated algorithms and automated trading. It has gained quite some traction in the past few years due to its powerful arsenal of tools. Users at TradeSanta can choose from multiple premade bots with different strategies and signals to automate their trades or start from scratch and build their own strategy. The platform offers a plethora of features for traders of all kinds.
The platform has over 40,000 active users and nearly 12,000 active trading bots and is going strong. TradeSanta has three packages for its users, namely Basic ($14/month), Advanced ($20/month), and Maximum ($30/month), with varying features. TradeSanta currently supports HitBTC, Binance, Bitfinex, Bittrex, UPbit, Huobi and OKEx.
|Multiple Tools To UseBuilt For All TradersAutomatic Signal Delivery In Automated Bots||Confusing UI For BeginnersHigh-Cost For Low-Volume TradersLimited Bots Available|
Mudrex is a new-age cloud-based marketplace of crypto automated trading algorithms. At Mudrex Invest, users can view and invest in pre-made trading bots created by expert crypto traders. These bots are 100% automated and spread across multiple exchanges and coins. Mudrex provides optimal quality crypto signals that are automatically executed on the bot without any human intervention required. The platform has over 15,000 investors and a total trade value of over $500 million till now. The platform also provides a performance score, rating each strategy after a risk vs reward analysis, helping users make better decisions.
Mudrex does not charge a set platform fee from its users just to use the platform. Users need to pay a small fee only when they start investing in a bot, which can be as low as $5 a month. However, if you want to build, backtest and publish your own trading strategies without writing a single line of code, using drag and drop technical indicators, you will have to shell out $16/month for their payment plan. The plan comes with priority support and many other features. At Mudrex, users can invest through Coinbase Pro, Binance, Bybit, Deribit, OKEX and BitMex.
|Extremely Easy To Start Investing100% Automated Bots With Automatic Signal DeliveryMinimal Pricing Is Helpful For All Traders||Limited Exchanges SupportedNo Mobile Application|
Verified Crypto Traders
Verified Crypto Traders is a Telegram-only premium crypto signal provider that is known for its high-quality signals for traders. The platform has gained quite many users in recent time, with over 7,500 members in its group. The platform provides future signals for Bitmex and Binance, so users have limited options for using those signals. The platform charges $99/month for its membership, decreasing if you choose the 3, 6, 12-month membership.
|Fast Signal Delivery With TelegramTrading Bot For Their Signals AvailableWeekly Video Updates For Users To Learn||Only Telegram-Based SupportOnly Two Exchanges SupportedHigh Cost For New Traders|
Zignaly is a cloud-based crypto trading platform that offers its users a chance to copy other trader’s strategies or create their own. The platform has multiple signals to help users automate their trades, along with a trading terminal that offers features such as Dollar-Cost-Average Strategy Rebuys, Stop Loss, and Trailing Stop. As of March 2021, the platform has over 55,000 users and a total trade volume of $1.3 Billion.
Much like Mudrex, Zignaly, too, is free to use the platform without any membership fee. However, while investing, users have to pay out a fee depending upon the algorithm they choose to invest in. While a handful of strategies are free to use, traders may have to shed out anywhere between $5-$500, or a 10% to 50% success fee from profits, depending upon the strategy they choose to copy. Users at Zignaly can use four exchanges to trade, which are Binance, KuCoin, VCC Exchange and BitMex.
|Automated Signal Delivery And ExecutionStellar List Of Features For UsersNo Platform Usage Fee||Limited Exchanges To Trade OnHigh Cost Of Copy Trading Strategies|
As a herd of new crypto investors is joining the crypto train every day, the importance of efficient crypto trading signals is increasing steadily. There are hundreds of crypto signal providers out there that claim they are the best, but it is essential to note that there is no one shoe that fits all. A trading strategy that may work for one may not be applicable for all kinds of crypto traders. Therefore, choose your crypto signal provider wisely, as a lot is riding on that choice. We hope, with this article, we were able to help you choose the best crypto signal provider for all your investment needs.
If you are looking for the best crypto signals coupled with automated trading for your crypto portfolio, then Mudrex is the ideal platform for you. The platform helps people invest in 100% automated trading bots created by expert traders with utmost security and reliability. These bots automatically implement the best crypto signals that are generated after a thorough analysis of the market. These are automated trading algorithms that trade even when you sleep, helping you generate consistent returns. It is safe to say, Mudrex is the high-performing automated trading platform you are looking for.
Let your trades work on autopilot. Get consistent returns with Mudrex.