Traders have long relied on signals, so it’s natural for crypto traders to do the same. This article looks at how free crypto signals could help your trading.
As with many other things you might need, there are two ways that you can get crypto signals. By either paying for them (via subscribing) or by going for free crypto signals, and some companies will often provide both. HIRN, for example, offers both free and paid crypto signals, with the VIP version being the paid one. So if you do elect to pay, what can you expect for your investment?
Well, for a start, you will usually get a broader index of services when you pay, which could mean that you might get a greater number of supported exchanges and trading pairs, for instance. You might also get advanced, self-sufficient AI-enabled tracking algorithms designed to identify significant patterns in the market, which is as close to a crystal ball as we currently have.
Free crypto signals can be useful, but you probably won’t be getting more than a simplified overview, and their take on market conditions will only be conveyed in the most rudimentary way. That said, there are some providers out there that will give you accurate readings of the market even though you haven’t paid for them, and they’re great if you can find them. At the other end of the spectrum are the ones that aren’t so great, the ones that charge you extortionate fees for bitcoin signals that are little better than guesswork.
This extreme variation between free altcoins signals providers is why it’s so important to take note of what current users have to say about the service they’ve been getting before you subscribe to a signals channel.
Here’s what to consider when looking at paid or free services:
You might want to go the free signals route if you are:
- a self-reliant trader with the confidence to make trades on your own
- someone who is already very conscious about the possible effects that different market conditions can have on crypto prices
- someone who pays close, ongoing attention to your trading
- you don’t completely trust automated trading yet if it can’t guarantee results
- someone that doubts that signals can actually perform as well as some people say they can
You should pay for a crypto signal subscription if you are:
- a newcomer to trading
- you don’t understand how market conditions and patterns can impact crypto prices
- you have a busy life so you can’t always be monitoring and managing trades every second of the day
- you are affluent enough to afford subscription fees
- you want to avoid the unwelcome possibility of high traffic and software issues from free altcoin signals providers
Free Crypto Signals
In some cases, free crypto signals can be exactly what you were looking for. First and foremost, they are free, so there’s nothing to lose by giving them a try. Most providers offer both free crypto signals and paid services, and if you find one that doesn’t do that, consider it a red flag. There’s a chance that those offering paid only may be con artists looking to run off with your money.
The beauty of free crypto signals is that they offer a quick way for beginners to get started with trading, although you might have to accept that the price you pay is a congested platform with slow loading times due to high traffic.
Luckily we offer one of the best free crypto trading signals services. It ranks among the highest-rated and most-used signals providers out there.
A free crypto signals provider worth looking at is CQS. It has over 5,000 members at present and it supports Binance, Bittrex, and Huobi. The way that all these members continue to support it is a great indicator of the kind of quality that you can expect from this service.
Paid Crypto Signals
Paid bitcoin signals have often been characterized as fraudulent. As we’ve said already, that can sometimes be true, but don’t let this put you off the genuine providers. Just be cautious. Do your research, follow the recommendations and you shouldn’t go too far wrong.
In lots of cases, paid bitcoin signals providers will just add extra functions and features to their free version. That’s how it is with CQS, which adds to the restricted amount of altcoins you can trade with. You get more supported exchanges and trading pairs when you go with a premium account, but do try an account with free crypto signals first. It’s the best way to test the service.
If your main area is BTC trading, we suggest that you go with a bitcoin signals channel. BTC is one of the most volatile cryptos, so you can’t afford not to monitor it closely. It’s actually been suggested that BTC may soar from its current price all the way to $398K by 2030, but there’s plenty of scope for fluctuation during short-term trading too.
That became evident when it moved from $20,000 in December 2017 to half that by January 2018. These rapid movements can be ruinous to even the most cautious traders, which is why bitcoin signals are so important.
It’s worth mentioning MYC Signals here, as it’s a BTC provider for the Binance and BitMex exchanges. It boasts a community of 2.7k users which is rising rapidly.
Free Altcoin Signals
Anything except bitcoin is known as an altcoin, as it’s viewed as an alternative to that first cryptocurrency. Altcoins can be just as profitable for traders as bitcoin and they’re potentially less volatile, too, so you might want to try trading ETH, VET, MXC, and BNB, Binance’s generated coins.
Moomin Papa’s Top 10 MKT Cap Signals is well worth a look for its free altcoin signals, and its community of 7000 members would no doubt agree. It’s earned its popularity, thanks to the excellence of its performance and the accuracy of its market analysis and altcoin readings.
It offers support for in-demand cryptos like ETH, LTC, BCH, BNB, EOS, XRP, XLM, ADA, TRX, and is dedicated to Binance, Huobi, and Coinbase exchanges. Also, the “top 10” coins included in this channel are among the most stable on the market.
Please note that Moonin Papa doesn’t offer financial advice and cannot be held liable for any losses that you may incur.
As with traditional signals, free altcoin signals offered by this provider are intended merely as contributors to your research and as resources to be used to inform your trading.
Telegram Crypto Signals
Telegram became one of the most popular free crypto signals platforms and its high number of users have been benefiting from that. But still, don’t take every recommendation that you find on there as gospel. It’s all too easy to be lulled by the enthusiasm of others, but in this arena, it’s always best to look before you leap.