The highly unpredictable and volatile nature of the cryptocurrency market makes trading super challenging, especially for beginners. This requires investors to monitor the market constantly to be able to identify potential trading opportunities.
This is where crypto trading signals come in!
The concept of trading signals in the cryptocurrency market is crucial as they can have a significant bearing on overall trading performance.
To help you seamlessly navigate the crypto market as an early investor, today we will talk about crypto trading signal providers and a few of the top names in the space.
Crypto trading signals are essential tools that offer trading suggestions or recommendations. These suggestions are about buying or selling a specific cryptocurrency at a definite time and price.
It is important to note that these signals are usually generated by professional traders or specialized software using various algorithms, market indicators, and technical analyses.
How do crypto signals work?
Crypto trading signals are typically generated through technical analysis and other similar indicators that provide valuable market insights..
These signals can be sent through various communication channels, including SMS, email, and others. They offer traders specific information about aspects such as stop-loss levels, entry and exit points, and other important trading parameters.
While Bitcoin (BTC) and Ethereum (ETH) signals were the most widely used, recent years have seen crypto signals on other tokens becoming popular too.
The market offers numerous crypto trading signal providers today, with options for both free and premium signals, each employing distinct research and analysis methodologies.To help you understand this better, here are some of the examples of the crypto trading signals-
BTC Buy $20,500
In this example, the signal instructs investors to buy Bitcoin at $20,500 without issuing a stop loss and a tape profit target. Investors can buy Bitcoin at the given price or the closest price possible.
In case the price surpasses the said amount, investors have to try the option to either close the trade or place the stop loss at breakeven. However, if the price falls below a certain threshold, the investor must make a prompt decision on when to close the trade.
ETH Sell $4,500
This is an example of a sell crypto signal, which asks followers to sell Ethereum at $2.000. In this example, if the price goes down the threshold, investors can either place a trailing stop loss or move it to breakeven.
However, in case the price increases, the trader needs to close the trade above a major level. For instance, at $2,300, the area below $2,000 is a decent resistance for Ethereum.
7 best crypto trading signal providers in 2023
Choosing a good crypto trading signal provider can be a challenging task. To make it easier for you, here we are discussing the top 7 trading signal providers you can pick from for your cryptocurrency trading:
1. Learn2Trade
An excellent platform for crypto trading for beginners, Learn2trade offers a free crypto education program along with daily news updates on what’s happening to the cryptocurrency market. This telegram signal also offers multilingual support with 3-5 signals daily.
Pros
- Users are notified with more than three signals every day
- Offers free telegram group for cryptocurrency signals
- Offers 24/7 customer support
Cons
- There is no record of any past performance
- Non-automated trading
2. Signals Blue
Signals Blue is one of the best crypto trading signal providers, with a professional team of traders from all over the world. The highlight of the platform is AI-based tools to oversee the entire crypto market, along with a flexible working team located in various parts of the world.
Pros
- High success rate of up to 91%
- Offers both Bitcoin and altcoin signals
- 24/7 live chat widget support
- Offer great compatibility with trading bot - Cornix
Cons
- Offer no free trial
- Inconsistent signals at times
3. BeinCryptoCommunity
BeinCryptoCommunity is another popular trading signal group set up by news outlet BeinCrypto. The platform offers professional customer support and hosts one of the finest groups of experts in the industry with detailed knowledge of the cryptocurrency market.
Pros
- The platform properly guides beginner traders until they become professionals
- Free entry to users
- Users are given adequate information about the market
Cons
- Most trade ideas are dropped in a Telegram group instead of a channel
- Signals are inconsistent
- Free signals are not as reliable as paid ones
4. CryptoAlarm
CryptoAlarm is a Telegram cryptocurrency group of trade signal providers that offers a detailed and analyzed signal to help traders record massive profits. The platform also offers reports along with a multi-channel support system for the users.
Pros
- Adequately analyzed signals
- Offers 24/7 customer support via phone or LiveChat.
- Offers investment risk management
Cons
- No free trial available
- Packages, in this case, can be too expensive for small traders
5. AltSignals
AltSignals is a crypto trading signal provider that is committed to helping its clients create wealth in the crypto space.
It offers users professional, steady, and adequate signals to help them succeed in the ever-volatile market.
Pros
- Professional trading team
- Free telegram channel
- Helps traders diversify their portfolios for massive returns
Cons
- Supports only BTC payments for the quarterly plan
- The platform supports fewer exchanges compared to competitors
6. Zignaly
This web-based crypto signal provider offers a free basic support account for new users. Among the other highlights of the platform include easy profit sharing, multi-payment support, and a free basic support account for new users.
- Offers service request opportunities to the users
- Accurate signals
- Strict action taken against fraud cases
Cons
- Price specifications are not provided
- You need to use paid signal traders to get the most out of the app
7. 4C Trading Signal
4C Trading Signal is one of the best crypto signal providers in the market.
The highlight of the platform is the team of professional analysts and industry experts with several years of experience in the cryptocurrency world.
Pros
- No experience required
- Professional customer care service
- Easy, quick, and secure set-up
Cons
- Automated bots work only on Binance
- Each bot requires you to set up separate Binance accounts
- Less active customer service team
The best crypto & stock trading game: TradingLeagues
If you aren’t still sure how to follow the signals, you can either use paper trading or fantasy stock & crypto trading games to test these signals.
However, the limitations of crypto paper trading platforms and simulators can be a problem. These limitations include:
- Less emotional connection
- Confusion between market trade and individual actions
- Accuracy issues with fee depiction
And this is where you can consider playing trading games like TradingLeagues. The games of the TradingLeagues platform have been carefully designed to be fun and immersive.
- Battle Leagues will help you learn how to compare stocks and pick the best one.
- In Target Leagues, you need to figure out the future or target price of a stock or index.
- Selection Leagues will help you learn how to build a portfolio.
- Classic Leagues will teach you how to study technical charts.
In Conclusion
Modern technology today allows cryptocurrency traders to copy signals via Discord, Telegram, Twitter, or other platforms.
However, when you’re a beginner making your pick for the crypto signal provider, it is always recommended to avoid signal providers who propose dealing with a specific broker exclusively to avoid losses.
