Trading cryptocurrencies can be lucrative. Despite the recent crypto crash, Dogecoin still boasts returns of about 4,000 percent year-to-date. To make profit trading cryptos, you need to identify the right coins to buy and time your investment properly.
What are crypto trading signals, and are they effective?
Despite Dogecoin being among the biggest altcoin gainers in 2021, some investors have lost money with it—those who bought Dogecoin just three months ago have seen about 50 percent of their investment wiped out.
Similarly, while Bitcoin’s gains over the past five years have surpassed 4,500 percent, some recent investors are in the red. Crypto trading signals can come in handy if you want to avoid such losses.
Crypto trading signals are expert suggestions on cryptocurrencies to buy and sell at specific times. With the right signals, you can maximize your profits in any market situation. For example, you may be able to know the right time to sell a crypto that has surged to take profit, or when to buy the dip in a falling crypto that's expected to rebound.
Types of crypto trading signals
Crypto trading signals can be manual, automated, or a combination of the two. Manual signals are based on human understanding of the market and usually come from expert traders or analysts. On the other hand, automated signals are generated by computer programs.
Crypto signals can also be free or paid. Many investors choose paid plans because they believe providers will strive to offer the best advice to retain members. For paid services, providers can offer monthly, half-yearly, or yearly plans.
The best crypto trading signals providers for beginners
As more cryptocurrencies launch and investors pursue Bitcoin-type returns, the need for crypto trading signals is increasing. And with the growing demand, many providers have appeared. But the best crypto trading signals can’t come from anywhere. Some of the reputable signals providers for beginners are:
Fat Pig Signals.
Elliot Wave Forecast.
Rocket Wallet Signals.
Crypto Rand, which bills itself as a crypto trading school, shares updates on the crypto market to help investors make informed decisions. It teaches beginner investors about things such as margin trading and technical analysis. Access to Crypto Rand’s expert trading signals requires a paid subscription.
Elliot Wave Forecast provides trading ideas on cryptos, as well as stocks and commodities. Crypto investors can expect several signals a day. It usually requires a subscription, but to show investors that its signals are effective, Elliot offers a limited free trial.
Signals Blue is another knowledge-focused crypto trading signal provider. It targets both beginners and experienced investors, and gives multiple signals per day. Signals Blue requires a paid subscription.
Fat Pig Signals delivers crypto trading ideas through Telegram, with free and paid plans. Its signals cover a broad range of cryptocurrencies.
Rocket Wallet Signals, which offers crypto trading ideas through Telegram, has more than 30,000 members. Some Rocket Wallet signals are free, while the best are reserved for paying subscribers.