One of the first things you will hear at the beginning of your trading career is that you need to have crypto signals to succeed. But are they really that big of a deal? Is crypto signal legit?
Yes, they are. They may not be the number one important thing in the trading world, but they are certainly somewhere around the top. By using crypto signals you can earn and increase your profits from the very beginning while learning how to develop a special, individual strategy that works best for your investment goals.
If you are still not sure about having a crypto signal service, read the following article so you can finally be convinced and also join one of the best.
What is a crypto signal?
To summarize, cryptocurrency signals are trading instructions sent from an expert trader to their customers on how to sell or buy cryptocurrencies at a particular time and price. Crypto trading signals can be based on different factors, such as technical analysis, the market status and current world news. These signals are very well researched, which gives it a high probability of profitable return.
Other important information to get from your signal provider is the optimal stop loss level of your trade, so you can minimize losses if the results are not really what you planned.
Also, another point in which crypto signals can be helpful is with analysis paralysis, a phase that every trader goes through once in a while. Analysis paralysis is when you are not able to focus on your market analysis and make smart trading decisions – and that is when crypto signals come in. They allow you to continue making profits while decluttering your mind.
If you choose the right crypto signals service, you are able to buy and sell cryptos that make you profit both in a short period and in the long run, therefore improving your own trading strategies.
How do I get signals for crypto?
Most crypto signals can be found on the same platform, and that is Telegram. The reason for that is because the app has the best instrument for broadcasting messages to a large number of people.
Also, Telegram is highly focused on its users' privacy than other messaging apps, since it is better cryptographed. It allows you to use more messaging bots, making it heaven for crypto traders, since they take advantage of the bots to create a broadcast list and share with several group members at once.
When should I buy cryptocurrency?
Knowing when to buy cryptocurrencies seems very easy: in theory, you just have to buy investments when their prices are lower, and sell once they peak. But that is a little harder than it seems.
Timing the market can be really challenging, especially when it comes to cryptocurrency, since its market is much more volatile than the average stock.
Cryptocurrency prices have been through several ups and downs over the past few months, so finding the perfect moment to buy can be nearly impossible.
Uncertainties and opportunities of crypto market
For example, if you get now because it seems like value levels are down at the bottom, there always is a chance that they decrease even lower, and you will invest sooner. But if you stay still longer, prices could just as easily skyrocket, and you will have missed your opportunity.
Also, cryptocurrency has no proven track record, like regular stocks, so it is nothing but a guess that these currencies will rise back from their ashes. If you buy when prices are low under the idea that they will rise again, you may set yourself for disappointment.
But, then, when should you buy it? The truth is, there is no such thing as timing when it comes to investment, what matters the most is the strategy you use.
Take the long way to succeed
The key here is to buy strong investments and them for a long term. If they are actually good investments, they should grow with time and their prices should increase along with them, earning you some money.
For example, you choose to believe that a specific cryptocurrency has a nice future ahead, it does not really matter if you buy it for $50,000 or $25,000 per token. If, at the end of the line, it ends up reaching, for example, $1.000,000 per token, you will profit anyways.
So, if you are investing in any cryptocurrency at all, you should do it because you trust in its potential growth and are willing to sit tight to your investments. If you only invest to make an easy penny, that can be a dangerous game and will likely make you lose more than you actually earn.
Is crypto signal legit? A legit Telegram group
Now that you have finally been convinced to join a crypto signal community, you need to choose the best one.
Your crypto signal Telegram group should be led by experienced professionals that can guide you through the entire experience of becoming an expert trader – and you can find that on the FatPig community.
The FatPig platform has existed since 2017 and its members have been a part of the trading market for over 15 years. By joining their group, you will receive: daily market analysis, tips on when to buy, sell and trade your cryptos and much more.
Money can be good, but knowledge is power. Get powerful by entering the Fat Pig community.