Are you struggling to make a profit by trading cryptocurrencies?
Is your trading blueprint not working out for you?
If yes, the best solution is to choose the crypto alerts service. A crypto alerts service will provide you with cryptocurrency alerts on which you can trade. That is why you will not have to fine-tune your trading method or create a trading blueprint.
Due to the ease of trade, the demand for such services has gone through the roof. However, you cannot make money by following every other alert service. You have to be quite picky.
For an average trader, it is difficult to decipher which crypto alerts service should they choose. We will help you out with the same today. We will share with you five tips that will help you choose the right crypto alert service. The five factors below will help you judge the crypto alerts service to pick the one which is versatile and relatively accurate to help you make money.
The first thing which you need to look at is the coverage that crypto alerts service offers. By coverage, we mean the number of cryptocurrencies which it tracks and covers. There are over 200 cryptocurrencies that have a reasonably large trading volume. That is why, if crypto alerts service includes a couple of cryptocurrencies, it might not provide you with regular alerts.
It is better to choose a crypto alerts service that covers most of the cryptocurrencies like:
• Binance coin
• And so on
It should cover at least 10 to 12 cryptocurrencies so that you receive crypto alerts regularly. It will help you trade frequently and generate handsome profits.
2. Type of signals:
Not all crypto alert services provide you with the same kind of alerts. You have to look at the alerts that you get through such services before subscribing to them. The type of signals varies depending on the trading technique that the service advocates. The different types of trades are:
• Long Trade:
You need to find out whether the alerts service provides you with the long trading signals or short trading signals or both. The long trading signal indicates that you have to buy, and you expect the cryptocurrency to
• Short Trade or both:
On the other hand, the short trading signal indicates that the cryptocurrency might go down, and you should sell first and buy later. Ideally, the crypto alerts service should be able to provide you with both of these so that you can trade in any direction.
Different crypto alerts services use different techniques. The alerts which they generate are dependent on these techniques. Scalping trades involve trades that are executed on breakouts and therefore provide you with quick 2% to 5%.
• Swing trade:
Swing trades are slightly long term in nature and can last from one day to 1 week.
• Long term trade:
Long term trades in the cryptocurrency world can last for one month to 6 months. Thus, you have to look at the type of alerts that they have on offer.
If a crypto alerts service can offer you at least two types of signals across these many options, it is an excellent option to consider that. The diversification of alerts will ensure that you can trade safely.
3. The medium of alerts:
The question which you need to ask yourself while choosing such a service is, how would you receive crypto alerts once you subscribe to the service?
The answer will help you determine which service you should choose. The mediums available are:
• Email alerts
• Notification alerts
• App alerts
• Dashboard alerts
• SMS alerts
• Whatsapp alerts
• Telegram alerts
• And so on
It is common for a crypto alerts service to offer you multiple options to choose the medium that you prefer. However, it is essential to look at the medium of alerts before subscribing to the service. Only when that medium is convenient for you, you can go ahead and opt for the service.
Another factor that you need to keep in mind when comparing different crypto alerts services is their accuracy. You can ask them regarding their previous track record. However, you should not be naive to think that they will have a 100% track record. Anything above 60% can help you make a significant amount of money with proper money management techniques. It is a good idea to choose a crypto alerts service that has a success rate above that threshold.
Lastly, before choosing any crypto alerts service, you need to look at the reviews of the service. Only once you do so, it will become easy to select a reliable crypto alerts service. You can search for reviews online and ask for references from the service that you are planning to subscribe to. Contacting those references will help you gain some real feedback on the crypto alerts service.
Thus, if you’re serious about cryptocurrency trading, subscribing to a crypto alerts service is a must. However, only when you use our guide above to choose the right crypto alerts service can you expect to make some money from it. With the help of our guide, it would be easy to start trading and make a decent amount of return.