Top 5 Free Crypto Signals Groups on Telegram
Cryptocurrencies have become synonymous with trading over the past few years. Due to the extreme volatility that exists in the market, the opportunity to consistently generate a full-time income by trading cryptocurrencies is a very real possibility for the majority of skilled traders. However, if you lack the time and skill to trade yourself, then you may want to consider joining a crypto signal group.
Crypto signal groups are communities whereby skilled traders will publish their live trades for their members to follow. Those part of the group are then able to rely on a more skilled trader to generate consistent and meaningful income for themselves. However, some of these groups aren’t cheap! Some are known to charge as much as $300 per MONTH to just to have the privilege of joining.
With that in mind, what then can an individual with limited funds but a desire to make money trading cryptocurrencies do? Join a free crypto signals group!
That’s why in this article, we’ll walk you through the top 5 free crypto signals group on Telegram so you can start making solid returns without having to break the bank.
Before we get into the thick of the article, let’s quickly explain what crypto signals are in general and how you can profit from them.
Free Crypto Signals
Signal groups predominantly operate in telegram groups with thousands of members. When the signal provider is ready to issue a trade, they’ll send out a notification that looks like this:
The call in this example are for people who trade on BitMex. The call tells you, what cryptocurrency to buy, whether to go short or long, along with the take profit targets, stop loss target and leverage amount.
If you have a good crypto signal provider that knows what they’re doing, then you should hopefully make an excellent return:
Now that you understand what crypto signals are and how subscribing to one can be incredibly lucrative, let’s get into our list on the top 5 free crypto signals groups on Telegram.
1. MYC Signals (@MYC Signals)
MYC Signals in terms of quality and customer service is one of the highest rated signal providers currently in the space. In their paid groups, they provide signals for a wide range of exchanges from BitMex/Bybit to Binance/Bittrex/Kucoin. This level of quality also extends to their free crypto signals group where they send trades for both beginner traders and experts alike.
If you want more than just their free cryptos signals, you can also join one of their paid groups. Despite being paid, it is one of the more affordable groups out there. If you’re interested, here’s how you can get started with them:
1) If you have telegram then be sure to reach out to the admin, @MYCSupportBot, as well as to join their free crypto signal group, MYC Signals. Alternatively, if you don’t have Telegram, feel free to contact them via email: [email protected] and they’ll walk you through how to get started.
2) They offer 2 premium channels for you to join: MYC BitMex/Bybit Signals VIP and MYC Binance Signals VIP. The membership can be paid via any cryptocurrency of your choice or via card over at their payments page.
3) Once you’re all signed up and you’re a premium member, they’ll work with you to make sure you can follow their signals as easily as possible, as well as to solve any problems you may have. They tout 24/7 customer service so regardless of which time zone you live in, you can be sure that you’ll get a prompt response.
2. Klondike (Crypto Rush)
When it comes to providing analysis and updates on free crypto signals that they intend to send, the team at Klondike are top class. They provide detailed analysis on any particular crypto that they may be interested in in a simple and easy to understand form. This then allows their members to decide for themselves if they would like to place a trade or not.
Klondike effectively do the heavy lifting, so you don’t have to. Instead of spending hours searching for the next hot cryptocurrency yourself, Klondike will find it for you, do the research and present it you in a digestible form. All you have to do is decide if or not you agree with the analysis, and as such, would like to place a trade.
3. Mike Crypto Signals
Mike Crypto Signals is a one-man show comprised of a trader that has been trading cryptocurrencies for years. Mike provides plenty of free crypto signals for those looking to make some money without having to break the bank signing up for a membership. If you like what you see from Mike and his free signals, then the opportunity exists for you to sign up to join his premium group.
Whilst Mike Crypto Signals isn’t one of the most active groups out there, this is due to the fact that he carefully waits for the correct time before placing a trade. This strategy allows Mike to effectively minimize losses as well as maximise any potential returns, something which is important when posting signals for others to follow.
4. Crypto Classics
Crypto Classics is one of the smaller signal providers in the space, but they do appear to have a fiercely loyal following. They provide signals for a myriad of exchanges including mainly: Binance, Coinbase and Bitfinex. In addition to the signals that they provide, they also do a good job in giving detailed analysis on why they’re taking the positions that they do.
Their free crypto signals are incredibly simple to understand. They provide, the length of time they expect to be in the trade for, the price at which you should enter, the take-profit targets and even how much of your portfolio you should put in the trade.
They’re a solid team with a solid following so if you’re interested in receiving free crypto signals, Crypto Classics are a good bet.
5. Binance Premium Signals
Binance Premium Signals provides free crypto signals for those that exclusively trade on the Binance cryptocurrency exchange. They also provide information on technical analysis indicators such as: RSI, MACD and EMA when justifying a signal. Each issued signal contains information such as: the potential percentage return that can be made from the trade, as well as the risk percentage.
Whilst still a relatively obscure group, Binance Premium Signals is a good place to at the very least get some free signals. You can read their analysis and decide for yourself if or not to go along with their trades.
How to Receive Free Crypto Signals
Joining a free crypto signal group isn't enough, you also need to have a thorough understanding of how you can expect to receive them.
The most popular method of receiving free signals is on the mobile application, Telegram. Telegram is an instant messaging service app that has the look and feel of WhatsApp. However, Telegram's focus on privacy as well as its unique group feature makes it an ideal place to get signals.
Another method of receiving crypto signals, although significantly less popular, is through email. This method is usually for those that don't have Telegram but are still interested in receiving signals regardless.
The big disadvantage of this however, is that unless you’re checking your emails every so often, you may miss a signal. This is in contrast to instantly getting notified as soon as a signal comes in from your provider. It certainly isn’t the most popular method of receiving crypto signals, but it does work for some people. More often than not, people opt for downloading Telegram in order to receive their free signals.
News & Analysis
Like most people interested in receiving free crypto signals, they also want to understand the rationale behind them. This is where if you follow a good signal provider, they'll release daily news and analysis on different cryptocurrencies that they may be following.
The analysis and news updates are typically released in the free signal group of a telegram provider, and so is another viable reason for wanting to download and use Telegram.
The above image is a good example of well-thought out and rigorous analysis that you should expect to receive from any reputable signal provider. A lack of analysis may be indicative of a lack of quality when it comes to the signals.
Furthermore, each analysis will nearly always come with a chart like the below which shows in graphical format why the signal provider is choosing to enter into a particular trade.
These sorts of clearly laid out analysis that accompany each signal kills two birds with one stone:
- You Receive free high-quality signals
- You learn high-level trading techniques
Receive free high-quality signals – We all like things that are free, and signals very much fall into that bucket. You can follow these free daily signals and use them to generate a little bit of extra income for yourself with minimal effort.
Learn trading techniques – If you want to receive free signals, more often than not, you're most likely a little bit inexperienced when it comes to trading incredibly volatile assets like crypto. By following a group that has detailed analysis with each signal, you'll also learn things that you can start to implement in your own trading to make you better.
In short, news and analysis are very much just as important as the free signal itself. It is key that you have a comprehensive understanding behind why you're following a particular signal so you improve as an overall trader.
To conclude, free crypto signals are great for those who are looking to capitalize on the expertise of more experienced traders without having to pay a lot of money for it. If you ever did become more interested in a group and liked the results that they post, you can then of course purchase a premium membership.
Free crypto signals are an excellent way of gauging the expertise of a particular group and should be used as a proxy to determine the level of returns you could expect to achieve if you were to join them.