Best Performing Crypto Spot Trading Signals
Crypto spot trading signals can help you navigate the high seas of the cryptocurrency universe. It provides a helping hand from professional traders, with their analysis and verdict on the current market situation, as well as a suggested course of action. It can be great for beginner traders to get an insight into how the pros do it, speeding up their learning journey. It can also make profits more consistent by avoiding losing trades, and layering their analysis with your own. You can join these groups for free on telegram.
What is Crypto Spot Trading?
First, we need to start with the basics to understand what cryptocurrency spot trading is. Crypto spot trading refers to the immediate buying or selling of a cryptocurrency (e.g., Bitcoin, Ethereum, Litecoin, etc.).
The transfer of the coins is immediate, and the market participants, essentially the buyers and sellers, own the coins. In this case, the market participants have virtual ownership of the coins.
The exchange happens on the spot market. The spot market runs 24 hours, seven days a week and the transactions are executed immediately. There is no broker involved in a spot market transaction.
Crypto spot trading happens on an exchange platform like Binance or Coinbase. Usually, the exchange platform would have a spot wallet to store your coins and convert them to fiat currency or purchase other coins.
Say you wish to buy Ethereum with USD; you would then look for the ETH/USD pair on your exchange platform and place a buy order at the price you prefer as well as the quantity of ETH you wish to buy.
Upon execution of the transaction, your ETH coins will be kept in the spot wallet. You can then hold the ETH until the value increase and convert them back to USD or purchase other cryptos that you anticipate increasing in value.
What are Crypto Spot Signals?
Like in forex trading, novice traders or traders who do not have the time to analyse the market make use of trading signal providers. The signal provider would analyse the market
based on technical, fundamental, or sentiment analysis to determine the signal.
From their analysis, they would generate a trading signal. The signal essentially stipulates the conditions for the trade.
The signal provider would specify the following information:
• Coin to buy or sell
• Buy or Sell
• Strike Price
• Stop-loss price
• Take profit price
Unlike forex signals, crypto signals are exchange specific. Meaning the signal provider would specify which exchange to trade it on. Coinbase, Binance, and Kraken are among the leading exchanges for crypto trading. Therefore, you would have to open an account with them or any other cryptocurrency exchange that your signal provider is using.
Understanding the Crypto Spot Signal
This would be the coin that you would either purchase or sell, depending on the signal given. Again, coin selection is based on the market analysis of the signal provider; they would suggest the most profitable coin to buy or sell.
Buy / Sell
This is the action you need to execute; the signal will specify whether to buy or sell. When you buy, it means there is another participant ready to sell at that price. When you sell, someone else is prepared to buy.
The signal will stipulate the price at which you will be buying or selling. It can either be at market price (the current price) or a price lower or higher, depending on the market analysis.
Take profit and Stop loss
A good signal provider would give the take profit and stop-loss targets. Take profit is the price at which your trade will close, and if the trade goes in your direction, you will make a profit.
Stop loss price is the price where the trade will close should the market hit that price. This is the loss you will incur on your trade should it go in the opposite direction. It is essential that you set these to manage your risk and protect your profits and capital investment.
The exchange provides the platform for you to execute your trades. Like a forex broker, you will have to open an account and fund it to start trading cryptocurrencies. Exchanges like Binance, Coinbase, and Kraken, to name a few, provide traders with the opportunity to trade cryptocurrencies on their platforms. Your signal provider will trade with certain exchanges, and you will have to take note of this when taking the signal.
Top 5 Crypto Spot Signal Providers
The signal providers that we are reviewing in this article offer premium services and are therefore considered the best. Many crypto spot signal providers exist, and many have free groups, but not everyone’s services and accuracy are good. We have done in-depth research, reviewed many, and finally shortlisted the best five crypto spot signal providers.
1. MYC Signals
First on our list is MYC signals; MYC signals has been providing crypto signals since 2017 and is a top-ranked crypto signal provider. In addition, they have a team of highly experienced professional traders. They have proven them selves to be on the top list by giving a great winning ratio over past few years. Signals in any market with 70% accuracy is consider good but MYC stands out by giving more than 85%. You can join them in their telegram group for free.
• They have an active community of over 34000 members and over 900 members in their premium group.
• The premium member group, as well as the free signals group, is accessible through Telegram.
• They offer monthly, 3-monthly, and lifetime subscription packages based on your trading style and affordability.
• For spot trading, you have the option to subscribe to BTC spot or BTC + Altcoin spot signals.
• Below is their package structure:
◦ Monthly: BTC Spot $60
◦ Monthly: BTC + Alt Spot $120
◦ 3-Monthly: BTC Spot $150
◦ 3-Monthly: BTC + Alt Spot $300
◦ Lifetime: BTC $700
◦ Lifetime: BTC + Alt Spot $1500
• Purchasing can be done through their website.
• MYC signals follow a swing-trade strategy for lower risk but higher accuracy.
• Their signals have an over 80%-win rate, which means 8/10 signals hit the profit target.
• In addition, their signals are tradeable on the following exchanges: Binance, Bittrex, Kucoin, Deribit, BitMex, Bitfinix and Huobi Pro.
• They offer 24/7 Customer support for their premium subscribers, irrespective of your location.
• Auto trading is a convenient feature available should the user prefer.
• They share market analysis, trading tips, and news updates in their Telegram community.
2. Verified Crypto Signals
Verified Crypto Signals has been providing signals since 2017. A standout feature about them is that they are registered with the Netherlands Chamber of Commerce, making them unique and giving their customers some peace of mind. In addition, their team of experienced traders operate remotely from different countries.
• They offer customer support 24/7 for any queries.
• They have four paid signal plans; the monthly plan starts at $99. Unfortunately, they do not offer a lifetime subscription plan.
◦ Monthly: $99
◦ 3 Monthly: $270
◦ 6 Monthly: $540
◦ Yearly: $999
• They offer purchases through their website.
• Their communication is through Telegram, for both their free and premium members.
• Automated trading is another feature that is done by a trading bot. All packages come with the auto-trading option.
• Signal results are posted on a dedicated Telegram channel as well.
3. Universal Crypto Signals
Third on the list is Universal Crypto signals, established in 2018. They offer a free and premium service and has both groups based on Telegram.
• They trade on most exchanges, namely, Binance Bittrex, Bitmex, Bybit, and Kucoin.
• They offer auto trading as well through the Cornix.io Autobot.
• Their Altcoin and spot trading subscription plans:
◦ One month: $66
◦ Three months: $171
◦ Six months: $306
◦ Yearly: $540
• Then they also have automated spot trading packages.
◦ One month: $66
◦ Three months: $171
◦ Six months: $306
◦ Yearly: $540
• In total, they have six different packages, and purchases can be made through their website.
• They have a VIP chat room that offers support to their premium subscribers.
• They have over 20 000 members in their free Telegram community.
4. Fat Pig Signals
Fat Pig signals is another big player in the world of spot signal providers. They have been around since 2017 and has a team of highly experienced traders.
• Their Telegram community has over 40 000 members.
• Like the other signal providers, they also have a paid VIP for premium members.
• They use Binance as their leading exchange.
• Their customer support service operates 24/7.
• The paid plans are 3-monthly, 6-monthly, and 12-monthly.
• Unfortunately, they do not offer 1-monthly and lifetime subscription packages.
• Universal Crypto Signals quote their packages in ETH:
◦ 3-months will cost you $0.5ETH,
◦ 6-months 0.75ETH, and
◦ 12 months 1.25ETH
• They have reported a signal accuracy of over 75%.
5. Rocket Wallet
Rocket Wallet is a new spot signal provider. However, the trading team has more than a decade of trading experience among them. They were established in 2020 and supported French, Spanish, and English clients.
• They have a free group accessible through their Telegram channel for anyone to join.
• Their VIP packages are 1-monthly, 3-monthly, 6-monthly, yearly, and lifetime packages.
• They have some of the more affordable packages:
◦ One month – $90
◦ Three months – $220
◦ Six months – $390
◦ 12 months – $700
◦ Lifetime – $1300
• They offer signals on the Binance, Bybit, and Bitmex exchanges.
• Even though they are still a new channel, their free group has over 34,000 members.
• Auto trading is also a feature offered by Rocket Wallet.
• They have reported a signal accuracy of over 70%.
• Rocket wallet is the only signal provider with no website; you will have to communicate with their admin on Telegram to join them.
We have reviewed the top five as they are the highest rated in the spot signal category. However, it is up to you as a trader to decide which signal provider is suitable for your trading requirements. When making a decision, the main factors to consider are their performance based on their signal accuracy, exchanges, subscription packages and fees, and customer service.
Trading cryptocurrency can be tricky, and for new traders, even more so. So you must spend your hard-earned money on good signals, and making an informed decision helps protect your investment and safeguard you from potential scammers.