According to the article The Kinda Super Secret World of Cryptocurrency Signals Groups Kenny Lee is an entrepreneur who believes it’s never too late to invest in the cryptocurrency. The story is told from his face.
I spoke with a trader from group Cosmic cryptocurrency Trading. My partner under the name TazeMeBro sells bitcoin for one month. He told me that he started with $ 200, and now his profit is $ 1,000. Given that the month in which he traded, was this January, the income is very impressive. His success he owes not only to the talent of the trader, but the crypto group in which it consists.
Not so secret world of cryptocurrency signal groups
Cryptocurrency signal group is a community of people who gather together and discuss the latest news, what coins they prefer, forecasts of prices and other important aspects of the cryptocurrency world. Usually in such groups is, so to speak, the backbone that delves into Reddit, Twitter, and Google News, collecting the latest information about the cryptocurrency market and uses technical analysis in Trading View and Bittrex Enhanced (the Google plugin) to make a prediction.
These groups are not secret, exclusive fraternity that require you to take a rite of passage or a minimum amount of contributions. Often, it is a open group (especially Discord), which allow anyone to join and at least the second to begin discussions. These groups are meant to unite enthusiasts of cryptocurrency, and to help each other to increase investment.In such communities three categories of users:
As I said, the backbone is those conducting market research and signals the others. Signals is recommended by community coins for trade. It is recommended, because only You can decide to buy or not, the core can only give a lead on good prices for entry and sale. Most of these signals are profitable.
As for the VIPs and passive participants, the only difference between them is that the VIPs paid for a premium membership and get more signals than free listeners.
Wise to join such a group as a free student and make a few purchases based on the signals. If the trade is profitable, it makes sense to pay a premium membership and get a lot more information.
Trade cryptocurrency there are two main approaches: either keep the Bitcoin and observe how it grows, or to take advantage of volatility when trading altcoins to increase savings in Bitcoin or any other coin. If You start to use signals and active trading, you will quickly begin to evaluate their assets in BTC and not in Fiat.
The pros and cons of cryptocurrency trading groups
There is no doubt that the advantages include the unity and support of each other members of the group. This is especially important for beginners, who are subject to panic the market. If You joined the group, there are bound to be participants with different coins, in which they are constantly being watched and can inform You about what is happening. It is very difficult alone to assess the situation around 1500 cryptocurrencies.
But do not forget that signals are only guesses and can’t guarantee 100% profit. This cryptocurrency community, not insider trading, market manipulation or P&D group.
Also remember that profit is always correlated with the market. This means that when the market becomes bearish, You hardly shines the same profit as a bullish market. For example, my companion became very bullish the day after Christmas that contributed to the rapid growth of its assets, but the recent advent of the “bears” led to the fact that while he has only $1000.
If You decide to join this community to start open an account on Bittrex or Binance, as most bands use these two stock exchanges for trading. You can join the group. Most of them work in the Telegram, Slack or Discord.