10 Best Binance Signals Groups On Telegram in 2023
The use of Binance signals groups to help traders/investors determine profitable investments is becoming more and more prevalent. With the prices of a majority of cryptocurrencies either stagnating or declining in value, trying to find the correct trade has become increasingly difficult. However, following trading signals may be a lucrative solution to this very difficult problem if traders are willing to take the gamble and explore this relatively new niche within the cryptocurrency community.
This article will take a look at the 10 best Binance signals groups on Telegram, and why choosing the correct provider to follow will be instrumental in determining If you are able to generate a return or not.
For those who do not know what trading signals are, here’s a quick introduction.
What are Trading Signals?
Trading signals are instructions sent directly to an individual telling them which cryptocurrency to buy. A typical signal would contain the following information:
- The cryptocurrency to buy – The signal will specify which cryptocurrency that should be bought, e.g. BTC, ETH, XRP
- The buy-in price – The price you should try to buy the cryptocurrency at
- The sell-targets – The price you should sell the cryptocurrency at in order to achieve a profit
- Stop losses – A mechanism to automatically exit your position to mitigate losses
Typically, traders may not achieve the ideal buy-in price, which is why you may see providers give a range. For example, instead of specifying a buy-in price of $8500 per bitcoin, a signal provider will provide a range of $8500 – $8600 per bitcoin. This gives traders plenty of scope to try and achieve the correct buy-in price as this would affect their resulting profit.
The sell-targets, or profit-targets, are the price point traders should look to exit the trade. Typically, signal providers give 3 sell-targets, all of which you should be notified by your provider if any are hit.
The stop loss is a mechanism that allows you to automatically exit a trade in order to mitigate losses. A stop loss is standard practice that any good signal provider should be using.
If all goes well and the the signal provider is trustworthy, you should hopefully make a nice profit:
Trading signals are cryptocurrency exchange specific. For example, Binance signals are trading signals that can only be followed if you wish to place a trade on the Binance cryptocurrency exchange. However, there exists other trading signals that are specific to other crypto exchanges such as: BitMex and Coinbase.
Now that you understand what trading signals are and how profitable they can be, we can now get onto the 10 best Binance signals groups on Telegram.
1. MYC Signals (@MYC Signals)
Number of Subscribers: 26K.
Focus/Description: Provides Binance and BitMex signals as well as educational content on crypto trading.
Approximate Post Rate: 5+ signals per day.
MYC Signals is a spin-off of one of the most respected crypto-publications in the space, Mycryptopedia.com. With a focus on quality and professionalism, MYC Signals provides its members with high-quality signals on cryptocurrency exchanges, Binance and BitMex.
How'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 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. Crypto Trades Today (@CTT)
Number of Subscribers: 6K.
Focus/Description: Provides Binance and BitMex signals as well as educational and inspirational content on crypto trading.
Approximate Post Rate: 7+ signals per week
CTT knows it’s better to provide good signals than frequent signals. And with a large team of traders, CTT never gets forced into issuing a mediocre signal to meet their post quota – the only signals you’ll get from CTT will be ones the traders felt truly confident making.
3. Mega Crypto World
Number of Subscribers: 15K.
Focus/Description: Provides signals only for Binance as well as producing high-quality charts justifying each issued signal.
Approximate Post Rate: 0-3 signals per week.
Certainly, one of the larger providers of both Binance signals and other signals generally, Mega Crypto World is a well-known brand. Unlike other groups, they do a good job of not over-trading and only sending signals when they see a good opportunity.
However, some of their signals do not contain stop losses, and so, you shouldn’t be too surprised when a signal released by them doesn’t show the take-profit target being hit until 5 months later. This practice of not using a stop loss is not something that we would recommend and should factor into an individual’s decision when deciding if or not to subscribe to this group.
4. Crypto Notes
Number of Subscribers: 52K.
Focus/Description: Only provides signals for Binance.
Approximate Post Rate: 0-3 signals per week.
Crypto Notes is a one-man show that caters towards the Hindi community. Even though it’s just one guy researching and issuing signals, you can tell that Crypto Notes has a pretty loyal following from the level of engagement each signal receives. There’s also a Crypto Notes YouTube channel that provides educational content relating to trading as well as general crypto knowledge. As mentioned before, it is targeted towards the Hindi community, so if you can’t speak/understand the language, this may not be the signal provider for you.
5. Crypto Classics
Number of Subscribers: 22K.
Focus/Description: Provides signals for Binance and Coinbase PRO.
Approximate Post Rate: 0-3 signals per week.
As well as providing signals for Binance and Coinbase PRO, Crypto Classics also provide technical analysis focusing only on Bitcoin. As Bitcoin is the largest cryptocurrency by market capitalization, altcoins tend to trade in a similar manner to it. Therefore, by understanding the trading pattern of Bitcoin, Crypto Classics uses this to inform signals that they provide relating to altcoins.
6. Binance Killers
Number of Subscribers: 255K.
Focus/Description: Issues signals for Binance.
Approximate Post Rate: 10 signals per week.
For beginners, the Binance Killers free channel delivers not only a selection of signals but also valuable market analyses, offering an accessible gateway for newcomers to grasp market dynamics. Moreover, Binance Killers caters to seasoned traders with advanced tools like the Cornix Trading Bot, elevating their trading capabilities. Collaborations with international financial firms have propelled them to their current position, showcasing their dedication to growth.
Backing their offerings, a responsive and affable support team is at the ready, accessible 24/7 to address any inquiries that may arise. Binance Killers has not only impressed us with its financial accomplishments but has also shown an unwavering commitment to nurturing its community. Through a blend of educational resources, advanced trading features, and a supportive environment, Binance Killers stands as a testament to what a signal provider can achieve when they prioritize the growth and success of their members.
7. Mike Crypto Signals
Number of Subscribers: 6k.
Focus/Description: Issues signals mainly for Binance and Bittrex users.
Approximate Post Rate: 0-3 signals per week.
As you can tell from the name, Mike Crypto Signals is also a one-man show, run by a technical trader. Although not one of the most active signal providers, they do provide plenty of free signals for those looking to make some money without having to break the bank signing up for a membership.
They are unusual in that they provide signals for Bittrex users. So if you don’t like Binance or BitMex, Mike Crypto Signals may be a viable alternative for those looking to follow signals on Bittrex.
8. Rocket FFA
Number of Subscribers: 0.4K.
Focus/Description: Provides signals for exclusively for Binance.
Approximate Post Rate: 0-3 signals per week.
Rocket FFA focuses on providing signals only for those interested in trading on Binance. They don’t post as much technical analysis justifying their trades, but they do post news updates that may affect any active signals they’ve recommended. They don’t force trades so don’t be too discouraged if you don’t see a signal for a few days.
9. Binance Premium Signals
Number of Subscribers: 3K.
Focus/Description: Provides Binance signals as well as technical analysis.
Approximate Post Rate: 0-3 signals per week.
Binance Premium Signals provides trading signals exclusively only for trading 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.
10. Binance Signals Turkey
Number of Subscribers: 55K.
Focus/Description: Provides Binance only signals.
Approximate Post Rate: 0-3 signals per week.
Perhaps one of the more lower quality providers, Binance Signals Turkey have a focus on issuing Binance signals only. They do not provide technical analysis justifying issued signals, or news stories to keep their members updated. They do have a website where users can login and manager their signals is one place that some people may find appealing.
Binance Signals: Spot Vs. Leveraged Trading
Now that you have a complete list of all the top crypto Binance signals groups on telegram, it's also important to understand that there are two different types of trading that can supported on Binance – spot and leverage trading.
Each has their own pros and cons, and an important question to ask a channel admin when looking to join a Binance trading signal group is which type they support. I'll give a quick description of what both are along with their respective advantages and disadvantages.
Spot Trading
Spot trading of Bitcoin is characterized by the purchase and immediate delivery of the asset itself. Most people when they say they want to buy Bitcoin will be referring to spot trading. It is the most common way of getting exposure to the asset class.
To illustrate, consider the following example: Alice opens a Coinbase account and wishes to use $1000 of her money to buy Bitcoin. With a current trading price of $10,000 for 1 BTC, Alice's $1000 gets her exactly 0.1 BTC in her wallet.
The price of Bitcoin increase to $11,000, making Alice's 0.1 BTC now worth $1100. Using her Coinbase account, she decides to sell her bitcoin yielding a nice return of $100.
This method of using fiat gateways such as Coinbase to purchase a cryptocurrency is spot trading. It is the most common type of trading that new investors will engage in and is less risky when compared to its counterpart of leveraged trading.
A key thing to note about spot trading is that you can only bet that the price of the cryptocurrency you've purchased will go up, this is also known as going long. Whereas leverage trading allows you to both bet the price of an asset will go up as well as down (going short).
Typically this may not be an issue for most investors, however, when Bitcoin enters periods of decline, or also known as bear markets, then only being able to take long positions makes it a difficult asset to trade.
Leveraged Trading
Leveraged trading is the opposite of spot trading in that instead of directly buying and selling Bitcoin, you are instead buying and selling a representation of Bitcoin in the form of a futures contract, to be more specific, a perpetual contract.
Perpetual contracts are a type of futures contract in that they are simply an agreement to buy or sell a cryptocurrency at a predetermined price at a specified time in the future. What make perpetual contracts special is that they do not have an expiry date and so can be held for an indefinite amount of time.
The key thing to note here is, when you’re buying and selling contracts on Binance, you are not directly buying and selling bitcoin itself, but instead, a representation of it in the form of a contract.
There are a few advantages of being able to leverage trade, but the key ones to note are: being able to go short and being able to use leverage.
I'll further explain the differences between being able to go long and short as well as being able to use Leverage.
Binance Signals: Going Long & Short
Going long is the process of speculating that the price of a cryptocurrency will increase, which is in contrast to going short, wherein you are speculating that the price of a cryptocurrency will decrease.
The process of longing can be summarized as follows: buying a cryptocurrency at a specific price, the price of a cryptocurrency increases, then selling the cryptocurrency at its new increased price and making a return.
For example, say the price of Bitcoin was currently trading at $10,000 and you decide to buy 1 BTC; this makes your purchase price $10,000. Now, if the price of Bitcoin were to increase to $11,000 and you sell, this would result in a 10% return, yielding a $1,000 profit minus any trading fees. This process is known as going long on a cryptocurrency and is the primary method in which many new traders tend to invest.
This is in contrast to the process of going short on cryptocurrency which can be summarized as follows:
Borrowing a cryptocurrency from a willing lender that is then immediately sold at market price, the price of the cryptocurrency then declines, the cryptocurrency is then repurchased at a lower cost then returned to the borrower. To illustrate, Bob borrows 1 BTC from Amy which he then immediately sells at market price of $10,000. The price of 1 BTC then falls to a price of $8,000 at which point Bob buys back the 1 BTC then returns it back to Amy. The net result of this is a $2,000 profit for Bob minus any trading fees.
A tool that most advanced investors will use in order to amplify the returns that they are able to achieve with their trades is through the use of leverage. Using this tool can be incredibly lucrative but can also lead to ruin if not used carefully.
I'll give a further description of leverage in the next section below.
Leverage
An investor can use leverage in order to trade as if he or she had larger amounts of capital than they actually do. For example, say you wanted to buy $10,000 worth of Bitcoin, but you only have $1,000. Through the use of leverage, this trade would still possible.
If you selected leverage at a ratio of 1:10, then in order to purchase $10,000 worth of Bitcoin, you would only need to put up $1,000 as margin. This margin amount is used to cover any potential losses, however, you are now able to trade as if you owned $10,000 worth of Bitcoin from just $1,000.
Binance Futures offers leverage from as little as 5x all the way up to as much as 125x. It should go without saying that the higher the leverage an investor uses, the higher the risk. This is because the liquidation price, the price at which an investor loses their entire account balance, becomes tighter. However, higher leverage also means that an investor stands to gain a significant amount of money if traded correctly. As a result, it is up to the investor to strike a balance between risk and reward.
Moving on, while we are on the topic of leverage, it's important to highlight that there are two types of leverage that a trader must be aware of, namely cross and isolated leverage.
Binance Signals: Cross & Isolated Leverage
Isolated leverage is the initial capital required to open a position. One of the key advantages of isolated leverage is that you can know the exact amount you are risking. This has the distinct advantage of limiting potential losses as you can only lose the amount you have used in the trade itself. Examples of isolated leverage would simply be leverage ratios such as, 1:2, 1:10 etc. All these ratios require a specific amount of margin in order to open the position in the first place. It is isolated leverage that most new investors will find themselves using. It is the less risky of the two types of leverage, and as such, should predominantly be used by those who are still new to the concept. Conversely, cross leverage is a tool that allows a trader to use their entire account balance as margin for an open positions in order to further prevent the risk of liquidation.
To illustrate the differences between both forms of leverage, consider the following example. Alice has an account balance of 1 BTC and decides to open a long position using isolated leverage. To do this, she uses 0.1 BTC as margin for the trade, therefore leaving 0.9 BTC in her account balance and also limiting her total potential losses to 0.1 BTC. This is to say that her losses will be isolated to her margin.
This is in contrast to cross leverage which would require Alice's entire account balance of 1 BTC to act as margin in order for the trade to be opened. This therefore means that Alice's potential losses is her entire account balance of 1 BTC.
This is why cross leverage is significantly more risky that isolated leverage and should only be used if you know what you are doing. However, the real question that must then be asked is: why would anyone ever use cross leverage? The answer is liquidation price.
Using an account balance of 1 BTC to act as margin for a trade, versus using 0.1 BTC results in that trade having a much wider liquidation price. This would mean that you have more room for a trade to against you without risking liquidation.
It therefore requires a trader to be very confident of a trade for them to risk using cross leverage. However, if used correctly it also means that he or she stands to make a significant sum if they bet correctly.
Conclusion
In conclusion, trading signals present a lucrative avenue for generating returns, particularly in the current challenging investment climate within the crypto sector. Signal providers typically offer insights tailored to specific cryptocurrency exchanges, including notable platforms such as Binance, BitMex, and Bittrex. This compilation has explored the top 10 Binance trading signal groups on the Telegram platform. For more comprehensive information on these providers, you can engage by joining their respective Telegram channels.
It's crucial to grasp the fundamental distinctions between spot trading and leverage trading, along with associated concepts such as leverage, long and short positions, among others. Opting for a signal group that adheres to proper risk management practices is of utmost importance, as mistakes in this regard could lead to disastrous outcomes. As an investor, the responsibility lies in striking a delicate equilibrium between risk and reward, a balance that is certainly achievable.
When executed accurately, such an approach can yield consistent and attractive capital gains. This article aims to have enriched your understanding not only of the premier Binance signal groups within the cryptocurrency domain but also the essential trading principles that accompany dealing with the inherent volatility of assets like Bitcoin.
