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Receiving Crypto Signals

Crypto Signals are basically instructions that are sent by a signal service provider to an individual. These instructions tell the person what cryptocurrency they should buy, where to buy it, and what the sell-targets are. Finally, the stop loss price. These signals are trade ideas the provider has reviewed and feels have a high chance of returning.
This ultimate beginner’s guide will cover everything you need know about crypto signals. We recommend which signal providers to use and which cryptocurrency exchanges to trade them. We’ll get to the point now.
What are Crypto Signals

Crypto signals are, as previously stated, a set of instructions that is sent directly to you to inform you which cryptocurrency to buy. The following information will be found in most signals:

The cryptocurrency to purchase – The signal will identify which cryptocurrency should you buy, e.g. BTC. ETH. XRP
The buy in price – This price at which you should purchase cryptocurrency
The sell-targets: The price at which the cryptocurrency should be sold in order for you to make a profit
Stop losses – An automatic exit mechanism from your position to limit losses

The signal provider may give you a range instead of an absolute value when setting the entry target. An example: Instead of specifying $8500 for bitcoin buy-in, a signal provider could provide a range between $8500- $8600 per cryptocurrency. This allows traders to be flexible in their search for the correct buy-in prices, as it could have an impact on their profit.

If the crypto signal provider you subscribe to recommends a profitable trade, then it is possible that you will make a nice income.

Your provider will notify you instantly if: the entry price has been reached, any profit-targets have been hit, and if the Stop-Loss is triggered. This is a great method to keep you informed about any trades and not having to manually check the exchange.

Now, as you may have guessed, crypto signals are also specific to specific cryptocurrency exchanges. In order to trade off a signal, an account must be created with that exchange. Binance is one of the top signal providers.

Crypto Signals

There are many options for receiving signals from providers. However, Telegram is by far the most used method. Telegram, an instant message service app, has the look and feel similar to WhatsApp. Telegram’s bot functionality is the best thing about it.

Telegram bots may be programmed to automatically process messages. These bots allow users to interact by sending commands messages to groups. These bots can also be used to issue cryptocurrency calls. This allows users place trades instantly without having to visit a cryptocurrency exchange. Once you have all the necessary permissions, you can easily place trades through Telegram.

You can also get crypto signals by email. People interested in receiving crypto signals may not have Telegram. However, some signal providers will send signals to email. However, this has one major drawback: Unless you check your emails regularly, you may miss a signal. This is unlike receiving notifications immediately after a signal arrives from your provider. While it’s not the most popular method to receive crypto signals, some people find it useful.
Crypto Signals Providers

Now that we have an idea of what crypto signals look like and the many ways you can receive them in different ways, let us walk you through how they work and how you can join these groups.

First, Telegram accounts account for a large proportion of crypto signals community members. The easiest way to join is to contact the signal group admin, who will explain how to pay and how to join.

This is a great moment in the guide to describe how these signal provider groups are structured. Telegram groups can be arranged in a variety of ways.

Telegram group called “Free Group” – This Telegram channel group will be open to all individuals interested in signing-up for a premium member. The largest number of members is found in the free group. This allows the signal provider to show members who are not paying the premium membership the potential returns.
Paid Group: If you believe the provider of signals is trustworthy, sign up for their paid program. You’ll get all the premium signals. In this group, the provider must prove the value by sending signals that yield returns. If they fail to do this, their members may not renew their premium membership next month.

These premium telegram group are often specific to cryptocurrency exchanges. It is essential to have an account with any exchange your provider is sending messages for. It is possible for a cryptocurrency exchange to have a slightly different price than another. A price of $8500 for bitcoin may be $8,550 for bitcoin.

Additionally, the signal providers will often require you to pay monthly for premium access. There are two major payment options:

Cryptocurrency (BTC, ETH etc)
Card

Cryptocurrency is the most preferred method of paying for premium access. Usually, you will tell the admin which crypto you wish to pay in and they will give you an address to send it. As an additional proof that your payment originated from you, some groups may require you to send the transaction identification.

Card – There is an option to pay with a card if you’re not very tech-savvy. But, only a few organizations offer this option. VISA and Mastercard are two of the most prominent payment processors.

So now you know more about a crypto signals provider. But what are the most important features? There are many providers, and each one will be different, but the key features for a crypto signals provider should be the following:

Be notified of updates
Provide latest news stories
Conduct technical analysis
Automated trading

Notifying you about updates – We briefly mentioned this in the guide. A crypto trading signal provider should provide you with regular updates regarding any signal issued. It is a bad user experience if you follow a signal, but don’t know how your trades are doing. Providers will always provide you with updates on signals that have been previously issued. This includes updates about if the buyin price was reached or a profit target has been met.

Good providers keep you up to date with the latest news stories. They will comment on any news stories which may impact any signals they’ve issued. They can encourage their customers to keep going, even when they hear bad news. In either case, providers will be seen as being more knowledgeable than their members and will be seeking guidance on how they can navigate any uncertainty.

Technical Analysis – You can provide technical analysis by joining a group. Technical analysis or TA is the study of historical trends to predict future price movements. These are the tools signal providers will most likely use to identify profitable trades. When evaluating a provider’s competence, you can consider whether they decide to issue TA analysis. A provider who posts well-thought-out, easily understood analysis can be a sign they are competent. But, if the provider posts nonsensical analysis or isn’t real, it can be a red flag that they are not credible.

Automated Trade – When it comes to cryptocurrency trading, automated trading is becoming a mainstay. A lot of the trade activity that you see in the order book for a cryptocurrency will likely be bots. This is due the many benefits one can offer. The greatest advantage of bots is their speed of execution. This is why, when providers send out signals, they will usually offer their members the option of following the signal using a bot.