6 Best Crypto Signals for Traders in 2024

Best Crypto Trading Signals - Our Top 3 Picks

Looking for a quick answer? Here are our top picks for the best crypto trading signal.

What are Crypto Trading Signals?

Crypto trading signals are prompts or triggers to buy or sell cryptos. They are usually based on a set of rules or repeating patterns in the market that only show up when the odds of executing a successful trade are high.

On the one hand, crypto signals can be gotten directly from the price action of cryptocurrency charts by monitoring key elements of price (like volume, shifts in trends, and momentum), usually done by seasoned traders.

On the other hand, signals could come as instructions to buy/sell a certain crypto at a specific price level. This is usually the more common form, as it is easy to understand and execute, even for novices. However, it relies on the expertise of others.

Most crypto trading signals (the second kind) consist of the same elements: the name of the crypto being traded, a price at which to buy/sell, a price to close the trade in profit, and a price to close the trade in a loss. Some may come with instructions on what volume to trade, but only sometimes. The three mentioned, however, are always given.

Crypto signals can also be provided daily or weekly and may have time limits; they can be executed over short periods, like minutes and hours (scalping and day trading), or over long periods, like days and weeks (swing and position trading).

Why Should I Use Crypto Signals?

There are several reasons to use crypto signals, the most pertinent being that they can help newbie traders make a profit immediately after they start trading instead of learning for months (or even years) before becoming profitable.

Another reason people use crypto trading signals is to save time. Some folks are too busy to study crypto market charts and track prices. These signals allow them to take advantage of crypto prices without distracting much from everyday life.

A third reason is a lack of understanding of the crypto space. Despite its 10+ year existence, crypto is still a new technology, one that could confound the technically “unsavvy”. People who do not understand the nuances of the market but still wish to profit from it must rely on more experienced folks; signals are a vehicle for transferring this experience.

Do Crypto Trading Signals Only Cover Bitcoin?

Trading signals span various instruments, even outside crypto. Any security that can be traded with a broker and can be represented using charts and candlestick graphs can be used as the basis for a signal.

The best crypto signals cover several cryptos across various categories. The providers of these signals, especially for larger signal groups, seek opportunities wherever they find them and often use software to search for cryptos whose price actions fulfil specific criteria.

Ultimately, the scope of crypto trading signals depends on their creators. Some services focus on a few cryptos, majors like Bitcoin, Ethereum, Solana, and Litecoin, while others are more flexible with the cryptos they include.

What are the Different Types of Cryptocurrency Trading Signals?

• Spot Signals: These signals provide buy/sell triggers for the spot crypto market. They do not involve any leverage and can be either short-term (day trading), medium-term (swing trading), or long-term (position trading).
• Margin Signals: Also called leverage signals, margin signals provide buy/sell triggers for crypto derivatives that provide leverage facilities, like Perpetuals, futures, or spot margins. These signals support short-selling and are usually short-term.
• Automated Signals: These signals are created primarily for automated trading bots that can execute multiple positions instantaneously. The parameters may differ slightly from the regular signals format, and they are usually reserved for more advanced traders.
• Pump Signals: These signals trigger pump events when a group of investors buy into a coin/token en masse to drive its price up so they can sell to newer entrants. These signals are time-sensitive and usually last from a few minutes to a few hours.

What are the Advantages of a Crypto Signals Service?

Increased Profitability

The first advantage of crypto signal services is that they help traders increase their long-term profitability. Because the process of creating these signals is mathematical and meticulous (at least for the best crypto signals), they have a higher chance of success than the average trader can achieve alone.

Free Time

Crypto trading signals help free up time that would have otherwise been spent watching price action. Traders can simply set alerts for signals and implement them as they come. Services like GSIC Signals can send signals to your Apple Watch if you enable the function.

Leveraged Experience

Crypto trading signals allow traders to leverage the experiences of others who have been in the industry much longer, people they may otherwise not have access to. In cases where software is used to generate signals, traders get to enjoy some of the best (and probably most expensive) software in the industry.

What are the Risks of Using a Crypto Signals Service?

Bad Quality Signals

The most potent risk of using crypto signal services is that they give bad signals, which can blow your trading account.

While crypto trading signals can be useful, they are not all created equally. Because you rely on the expertise of others, you are at the mercy of their skills. If the person (or application) generating your signal is not great at what they do, you could suffer heavy losses. This is especially the case with many free crypto signals.

Key Man Risk

Another risk of relying on another person’s skill is that users may end up stranded if the key person providing the signal is unavailable. If the service revolves around a single person providing the signal (which could be the case with more niche services or markets), then users who use the service are left without options if, for any reason, the key person is unavailable to provide signals.

Over-reliance

Over-reliance occurs when traders do not learn to perceive signals directly from the charts and instead rely on services. A common tradeoff is skill for profitability. Because you rely on a consistently profitable signal service, you no longer develop your skills and end up in a situation where you cannot be profitable without the service.

Are There Free Crypto Signals?

Yes, free crypto signals are available. Some services offer a free tier where they post signals while offering a premium tier with more signals and enhanced services. Free crypto signals allow users to get their feet wet in trading.

However, free services are often less accurate than their paid counterparts. The best free services we’ve encountered are those that act as stepping stones to paid services.

For example, Wolfx Signals offers a free signal service via Telegram that anyone can join. In the group, free signals, which are watered-down versions of those in the paid group, are provided.

Free signals help new users unsure about paying to experience some of the benefits and make up their minds. If they don’t, they can keep enjoying the services at no cost but with the knowledge that they could make more.

How Much Do Cryptocurrency Signals Cost?

The prices of crypto signals vary between providers. Each provider determines the cost of their service. However, most adopt a subscription pricing model, charging a monthly or annual fee.

Some providers offer packages depending on users’ trading styles or preferred markets. For example, Universal Crypto Signals offers six packages that are differentiated by the markets traded and the level of automation involved.

For the services we listed, here are their prices:

• Invezz: The niche tier costs $17.99/month, while the all-trading tier costs $26.99/month.
• GSIC Signals: The monthly fee is $99, the quarterly fee is $279, the half-year fee is $549, and the monthly fee for all packages is $269.
• Wolfx Signals: The crypto and forex tiers cost $89/month or $279 for a lifetime each, while the combined tier costs $139/month or $399 for a lifetime.
• Universal Crypto Signals: charges between $66 and $1,200 for various packages
• ZigDao: traders set the fees for their independent signals.
• Cointelegraph Market Pro: $99/month or $299/year.

How Often Do These Services Provide Trading Signals?

The frequency with which crypto signals are provided depends on the service. Some offer daily signals, some weekly, while others specify a certain amount over time. For the services on our list, their frequency includes:

• Invezz: 2-3 signals per week for the free tier, 5+ per week for the niche tier (crypto, stocks, or commodities), and 20+ per week for the all-trading tier (crypto and stocks).
• GSIC Signals: at least one signal daily.
• Wolfx Signals: 1-4 signals per day across all packages.
• Universal Crypto Signals: does not specify, but usually a few per week.
• ZigDao: doesn’t provide a set number of signals; instead, it allows users to subscribe to profitable traders who may take any number of trades.
• Cointelegraph Market Pro: does not send buy/sell signals; instead, it sends alerts for on-chain activities.

How Do I Choose the Best Crypto Trading Signals?

Gauge Accuracy

The first thing to consider when choosing the best crypto trading strategy is the accuracy of the signals because wrong signals defeat the purpose of using the service. Note that no service posts profitable signals 100% of the time, as no one (man or machine) has achieved a perfect trading strategy.

Instead, gauge the level of accuracy over a long enough period or number of trades. A good rule of thumb is to consider 10 trades. How many trades, out of any 10, are profitable? If a service offers a free tier, note the signals dropped and track them yourself. If more than five are profitable, then that’s a good start.

Consider Fees

The fees charged are important as they contribute to the cost of your trades.  Most services charge fees between $0 – $100 per month, so you must ensure that the amount you can make in a month is above the subscription cost.

Examine Crypto Options

Some services cover more cryptos than others. If you want a service that provides signals for several cryptos, then you’ll have to examine the number of cryptos they cover; some services list them, while others don’t.

However, this is more of a preference as the goal is profitability.

Final Thoughts

We explored the best crypto signals services and chose Invezz as our overall choice because it is easy to understand, which is great for novices. It is run by a professional trading team, eliminating key man risk should one or more analysts be unavailable, and it provides medium-term signals that allow users to focus on other things while being profitable.

Nonetheless, depending on your trading style, the other services listed are great options. For example, if you use trading bots, you may want to check out Universal Crypto Signal’s service, as it provides packages specific to trading bots.

Ultimately, the best crypto signal service is the one that allows you to achieve consistent profitability. You’ll need to find a good exchange to get started with crypto trading. Check out our guide on the best crypto exchange for day trading.

Methodology - How We Picked the Best Crypto Trading Signals Service

The crypto signals services covered in this guide were chosen after rigorous research and reviews. We considered reputation, profitability, cost, and structure.

The services listed are the best we found in the various categories we listed them. For example, we found that ZigDao only charges traders when they make a profit so we named it the best free service.

Check out our why trust us and how we test pages for more information on our testing process.