5 Best Bitcoin Signals Groups on Telegram
Probably the most lucrative activity that you or I could do in the cryptocurrency space is to trade. The volatile nature of the market means that the opportunity to generate high returns are far more plentiful than traditional asset classes such as stock and bonds. By far the most traded cryptocurrency in the market is Bitcoin, with a market dominance of +60%. However, trading Bitcoin can be difficult, as successfully making money trading Bitcoin requires you to constantly pay attention to trading charts. As a result, we are seeing the emergence of Bitcoin signals groups on telegram, which are groups of experienced traders that will tell you exactly when to trade.
The benefit of these bitcoin signals groups is that these experienced traders will spend all of their time identifying profitable trading opportunities, so that you don't have to. Thus, these groups are a great way to grow your money passively.
In case you don't know what crypto trading signals are, let me give you a quick rundown.
What are Bitcoin Signals?
Very simply, Bitcoin signals are just a set of instructions that are sent to you telling you when to buy or sell a cryptocurrency. For example, bitcoin signals groups on telegram function by telling you exactly when to buy or sell Bitcoin.
Bitcoin signals usually have the following format:
- Cryptocurrency -- the signal will inform you to buy Bitcoin (there are groups that will send signals for other cryptocurrencies, such as Ethereum).
- Buy -- the signal will specify the price point at which Bitcoin should be bought.
- Sell -- the signal will also tell you when to sell your Bitcoin.
- Stop Loss -- in case the trade does not go as planned, the signal will also tell you where to set your stop losses, so that any potentially losses can be reduced.
As you can see from the image above, bitcoin signals would contain additional information such as the cryptocurrency exchange that the signal is intended for, and also the percentage amount that should be allocated to the trade.
If all goes well, the bitcoins signals group you're in should be making you a consistent profit, and hopefully you will be getting alerts like the one below. These alerts typically show you the amount of profit that you've made on the trade, and how long it took to hit that profit figure.
This might all seem complicated at first, but it really isn't. The majority of the work is handled on Telegram by bots. For example, bots allow you to follow trades automatically by simply clicking a button. An example of how this works in practice can be seen below. By selecting 'One Click Follow', a trade will automatically be placed on the user's behalf, simplifying the process massively.
Now that you know what crypto trading signals are, let's take a look at the best telegram groups that you can join to follow bitcoin signals and start making money!
1. Margin Whales (@Margin Whales)
- Number of Subscribers: 17.5K.
- Focus/Description: Provides bitcoin signals on the Binance and BitMex cryptocurrency exchanges, as well as educational content on crypto trading.
- Approximate Post Rate: 2+ signals per day.
Margin Whales is a signal trading service that was launched by Mycryptopeda.com, a well-respected cryptocurrency publication in the community. Margin Whales specialises in providing high-quality bitcoin signals for the Binance and BitMex cryptocurrency exchanges.
Getting started with Margin Whales is straightforward, simply follow the steps below:
If you have an account on the Telegram messaging app, then the best way to get started is to send a quick message to our admin: @Mr. W to get a good idea of the kind of service that we offer. We also recommend joining our free crypto signals group, Margin Whales. If you don't have the Telegram app, then the next best way to get in touch with us is by shooting a message to @Mr. W. Once your message arrives, Mr. W will then walk you through everything that you need to get started.
Margin Whales offers 3 premium plans for crypto trading signals: 1 month, 3 months and Lifetime. Membership to these groups can be paid via cryptocurrency with @Mr. W.
Once you become a premium member, the MYC team will help you get setup, so that you can start following signals and making money passively. With a 24/7 customer service, the MYC team will always be on-hand to help.
2. Universal Crypto Signals (Universal Crypto Signals)
- Number of subscribers: 10k
- Focus/Description: BTC and altcoins spot trading and leveraged trading
- Approximate Post Rate: 2-3 signals per day
Universal Crypto Signals is one of the most popular crypto signals service which started in January 2018. They are best known for their consistency, signal accuracy, accurate analysis and risk management. The group covers signals on various exchanges like Binance, Binance Futures, Bitmex, Bybit etc. Signals also come with both manual and automated trading plans and also dedicated Trollbox for discussing trade ideas.
3. 4C Trading
- Number of Subscribers: 7k.
- Focus/Description: Issues signals for BitMex.
- Approximate Post Rate: 2-3 signals per day.
4C Trading has been in the signals game for a while, and work hard to provide their members with the best signals. 4C Trading's style can also be macro-focused, preferring to trade on recent news events as it can prove to be a lucrative trading strategy if executed correctly. 4C Trading also provide trading reports that you can check out to see how the group is performing.
4. Yo Crypto
- Number of Subscribers: 3k.
- Focus/Description: BitMex signals.
- Approximate Post Rate: 2-3 signals per day.
Yo Crypto is another well-respected signal provider in the space. Yo Crypto is one of the more solid groups that are often consistently producing a return for their members. Making them a solid pick for members looking to generate more returns on their funds. Noticeably, there is less technical analysis that is provided by Yo Crypto, so keep that in mind.
- Number of Subscribers: 13k.
- Focus/Description: A heavy focus on technical analysis as well as providing signals for Binance and BitMex.
- Approximate Post Rate: 2-3 signals per day.
This list wouldn't be complete without a nod to the team over at WhaleTank. These guys were one of the first on the scene, and have been providing solid returns for their members since day one. WhaleTank concentrate heavily on utilizing technical analysis to identify trade opportunities for their members.
Bitcoin Signals: What is Leverage Trading?
Another important point to remember is that Bitcoin signals providers will often trade Bitcoin using leverage. This is because leverage trading allows you to make significantly more money than regular spot trading. If you are not familiar with what leverage trading is then let's take a quick look.
Usually, when you buy bitcoins, you will likely use the funds in your account to do so. However, with leverage trading, you can use your account balance plus borrowed funds to purchase bitcoins. This has the advantage of allowing you to increase your trading position in trades that you enter, and also means that you could potentially amplify the amount of profits that you could make in a trade. Leverage trading is becoming an increasingly attractive way to trade bitcoin over regular spot trading due to the significantly higher potential gains that can be captured.
Margin is also an important concept that needs to be understood alongside leverage trading. Margin is simply the amount of capital that needs to be in your trading account to cover any possible losses. It is by initially having sufficient margin in your account that you are then able to leverage trade. For example, if Bob wanted to purchase $10,000 worth of Bitcoin, but only had $1,000 in his trading account, the amount of margin (i.e. the $1,000) would still make it possible for Bob to 'borrow' the extra $9,000 to leverage trade with.
For example, Let's say that the price of Bitcoin hits $11,000, if Bob had bought 1 bitcoin at $10,000 on the recommendation of a bitcoin signals group, this is only a percentage return of 10%. However, if Bob were to use leverage at a 1:10 ratio to enter into this trade, where Bob's initially investment was $1,000, the price movement from $10,000 to $11,000 would yield a percentage return of 1,000%.
However, it is important to remember that trades can end up going wrong, and if the price of Bitcoin fell to $9,000 instead, Bob would have lost his entire $1,000 margin. This is referred to as the liquidation price. The calculation that goes into determining the liquidation price will differ depending on the exchange that you trade on, so it's important to be familiar with this before following bitcoin signals and entering into trades.
Bitcoin Signals: Cross and Isolated Margin
Another important concept to understand that is related to leverage trading and margin is the concept of cross margin and isolated margin. As we mentioned before, margin is the initial capital required to cover any potential losses and avoid liquidation. However, there are two different ways that potential losses could be covered.
With cross margin, the full amount of funds in your account is used to avoid liquidation. This means that effectively your entire account balance will be used as collateral for any leveraged trade that you make. With isolated margin, only the initial margin in your trading account that you set will be used to cover any losses and avoid liquidation. In other words, the full amount of funds in your account is not used for any leveraged trade that is made.
Bitcoin Signals: Long & Short
Another important factor to remember when following bitcoin signals and trading with leverage is that you are able to take both long and short positions. Usually regular spot trading would only allow you to take long positions. This is extremely restrictive for the average trader, as bitcoin moves both up and down, not just upwards. By being able to only take long positions, the trading opportunities available to a trader is reduced significantly.
An example of taking a long position (aka going long) is simply buying an asset e.g. bitcoin at a specific price and selling that asset at a higher price than which you bought it. The difference between the buy and sell price is the profit or rate of return that you have made. For example, the price of 1 bitcoin is currently $10,000, and Bob decides to buy 1 bitcoin. If the price of Bitcoin were to then increase to $11,000 per bitcoin, and Bob sold at this price point, Bob would make a $1,000 profit, which is a tidy 10% return.
Conversely, an example of taking a short position (aka going short) is borrowing an asset e.g. bitcoin from a willing lender that is then immediately sold at market price. If the price of the asset were to then decline, the asset is repurchased at a lower cost and is then returned to the lender. For example, Amy borrows 1 bitcoin from Bob, which she then sells at a current market price of $10,000. The price of bitcoin then falls to $8,000. Amy buys back the 1 bitcoin (which is worth $8,000 at this point) and returns it to Bob. The result of this process is that Amy ends up with a nice $2,000 profit and Bob receiving his 1 bitcoin back.
Increasingly, traders are turning to exchanges that allow leverage trading, as they will often allow traders to enter into both long and short positions.
Which Exchanges Allow Leverage Trading?
Now that we know the benefits that can be gained by using leverage trading, let's take a look at cryptocurrency exchanges that actually allow users to trade with leverage so that you can follow bitcoin signals effectively.
Now, there are quite a few exchanges out there, but by far the most popular exchanges that allow leveraged trades are: Binance Futures and BitMEX.
Binance started off as a regular spot trading exchange, but has now since launched their futures platform, 'Binance Futures'. This platform allows users to enter into leveraged long and short positions.
Binance Future has a pretty standard trading interface:
- Here users can choose which contract that they would like to trade. There are quite a few options to choose from, but the most popular contracts traded on Binance Futures is, unexpectedly, the BTCUSDT contract. As mentioned before, Binance Futures also allows users to trade with leverage. The default leverage is 20x, but users can go much higher, all the way to 125x leverage. Users also have the option of choosing between cross and isolated margin.
- This is a basic chart layout that allows users to switch between the price chart and the order book depth.
- Live order placements are a big part about being an effective trader, and here Binance provides a live feed of order book data as well as a graphical representation of the order book depth.
- You will be able monitor your trading activity here, as well as be able to check the status of any live trades that you might be in. This section also includes useful information on: margin balance, entry price and mark price.
- Probably the most important section of the interface, here traders can place their orders, allowing you to enter into both long and short positions.
Getting Started on Binance Futures
Getting started on Binance Futures will first require you to have a regular Binance account. If you don't already have one, then simply got to Binance.com, click on 'Register' in the top right corner of the page, and then create your account. Alternatively, you can also register on Binance by clicking here and following the steps below:
- Enter your email address and password
- Click on 'create account'
- You will then receive a verification email from Binance to verify your registration -- go ahead and follow the instructions in the email to complete your registration and activate your Binance account.
Now that you've created your Binance account (or if you already had one), navigate to the Binance homepage, click on the 'Trade' button, and then click on 'Futures' to get started on opening your Binance Futures trading account. Take a look at the image below to help.
Now that you've done that, you will land on the Binance Futures interface. To open a Binance Futures account, click on 'open now', and that should open your account.
Funding Your Binance Futures Account
Now that your account is open, you have to fund it before you can start following bitcoin signals or trading on the Binance Futures platform. All contracts on Binance Futures are denominated in USDT, so you will need some USDT in order to leverage trade and enter into both long and short positions.
An easy way to get USDT into your Binance Futures account is to first transfer USDT into your spot wallet, which is the wallet that you use on regular Binance. From there, you will be able to transfer the funds from your spot wallet straight to your Binance Futures wallet. To do this, click on 'Transfer' in the bottom right of the Binance Futures interface. You will then have the option of deciding on the amount of USDT that you want to transfer. Once you come to a decision, simply click on 'Confirm transfer', and you should see the funds added to your futures wallet pretty much instantly.
For those of you that don't have any USDT in your spot wallet, you'll have to first deposit USDT into your spot wallet before you can get USDT into your Binance Futures wallet. Getting USDT into your spot wallet is very straightforward. You can get USDT into your spot wallet by either card or by deposit. If you're still not sure on how to do this, then take a look at this guide, it explains everything very clearly: How to Deposit on Binance.
Now that we've taken a look at Binance Futures, let's take a look at another popular cryptocurrency exchange that lets users trade with leverage and enter into both long and short positions: BitMEX.
BitMEX has been around for a long time, and has established itself as the go-to exchange for leverage trading. BitMEX is quite similar to regular spot exchanges such as Coinbase. However, with BitMEX, instead of buying and selling cryptocurrencies such as Bitcoin, you are buying and selling contracts that are denominated in various cryptocurrencies.
BitMEX offers varying futures contracts, but by far the most traded contracts are BitMEX's perpetual contracts. At a very high-level, a futures contract is simply an agreement to buy or sell a certain cryptocurrency at a predetermined price at a specified time in the future. BitMEX's perpetual contracts are unique in that they do not have an expiry date, so they could theoretically be held for an indefinite amount of time.
These perpetual contracts are a type of derivative financial instrument, as they derive their value from something else, which in this case would be the underlying price of the cryptocurrency on which they are based.
For example, the bitcoin perpetual contract derives its value from the price of bitcoin. The ticker symbol for the bitcoin USD perpetual contract on BitMEX is: XBTUSD.
As mentioned before, BitMEX offers a variety of contracts, with the most popular contract being XBTUSD. However, if you would like to gain exposure to other crypto asset classes then here are few more contracts that you could trade:
- Ethereum (ETH)
- Cardano (ADA)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
Getting started on BitMEX
Getting started on BitMEX is very similar to the setup process for Binance Futures. Before you can start leverage trading, you are going to have to first create a BitMEX account. Once that is done you can get started.
The main difference in the setup process for BitMEX when compared to Binance Futures is that there is no separate wallet that you have to transfer funds to. Once you open your account, you just deposit the cryptocurrency that you would like to start trading with and you are good to go.
To conclude, leverage trading has become an increasingly popular way for traders to trade. This, combined with bitcoin signals released from a reliable crypto signals group, can result in you generating consistent and reliable returns.
There are numerous groups for you to choose from, and we have taken a look at the top 5 currently in the space. Care has to be taken when it comes to choosing a bitcoin signals group, as a few signal providers can prove to be very unreliable or outright scams. That's why in choosing a crypto signals group, you should look to groups who are well-recognised and have an established track record of producing consistent returns for their members.