Best 5 Crypto Signal Auto Traders for BitMEX and Binance Futures
The use of crypto signals has exploded in popularity, as traders in the market compete to gain an edge in this volatile market. The advantage of using crypto signals is obvious, a team of dedicate traders who spend their entire time spotting profitable trading opportunities so that you don’t have to. As the popularity of crypto signals grow, so to have the use of crypto signal auto traders. In this review we will take a look at the 5 best crypto signal auto traders for BitMEX and Binance Futures.
Before getting into the review, some of you might not know exactly what crypto trading signals are, so let’s have a quick run through.
What are Crypto Signals?
Crypto signals are nothing more than a set of instructions that are sent to you electronically telling you exactly how to trade (i.e. when to buy and sell crypto). So, you could quite easily join a crypto signals group on telegram that sent you instructions telling you how to trade Bitcoin.
Usually, crypto signals are usually sent in the following format:
- Cryptocurrency – signals will typically contain information telling you which cryptocurrency to buy e.g. BTC or ETH
- Buy – a target buy price, telling you when you should enter a trade
- Sell – a target sell price, telling you when you should exit the trade
- Stop Loss – a target stop loss price, to mitigate losses in case the trade does not end up going in the right direction
There is also additional information contained in crypto signals such as: the exchange that you should be placing your trade on and the percentage of your funds that you should be investing into the trade.
If you can join a reliable and trustworthy crypto signals provider, then you’ll also be receiving plenty of profit notifications like the image below shows. In these notifications you will be able to see how much you made on the trade and time frame it took to make those profits.
Most of what we’ve just gone through is handled automatically by bots (auto traders) on Telegram, making it very easy to follow signals automatically.
Crypto Signal Auto Traders
As we mentioned above, crypto signal auto traders make it extremely simple for you to follow trade signals, as trades can be placed automatically for you. This is can be far better than following crypto signals manually because of two primary reasons.
Firstly, the cryptocurrency market is extremely volatile, so trade opportunities can pretty much present itself at any time. This trade opportunity could be at a time when you are unable to follow a crypto signal, perhaps because you are at work or asleep.
Secondly, trade execution is a really important part of cryptocurrency trading. You might make a mistake in entering and exiting your position, which may result in reduced gains or worse, a loss.
Crypto signal auto traders solve these problems because trades are placed automatically on your behalf, meaning that you can be at work or asleep and still make money. This is a great set-up because if you join a reliable and consistent crypto signal group, you will effectively be able to make money passively. Crypto signal auto traders also greatly improve trade execution, as you are able to specify your buy and sell targets before even entering into the trade, which will make your trading much more precise.
How to setup a BitMEX and Binance Futures Auto trader
The setup for a Bitmex and Binance Futures auto trader will differ slightly depending on the bot that you decide to use. However, the setup process will largely be the same across the board. For example, pretty much all bots will require that an API (application programming interface) connection be established in order for the auto traders to be able to follow signals automatically. An API connection between your BitMEX and Binance Futures account and a crypto auto trader is likely going to be established using API keys. API keys are basically what gives the auto trader bot controls over your account to allow you to follow signals automatically. This control can be removed at any time, meaning that you are always ultimately in control.
To use Binance Futures as an example, the process of establishing an API connection between a Binance Futures account and an auto trader would be the following (this process will largely be the same across different crypto signal auto traders).
1. Generate your API keys
To establish an API connection with your auto trader, the bot will likely ask for the API keys to your trading account. This will mean having to generate API keys for your account.
If you are on Binance, then you can generate your API keys by first navigating to the ‘API management’ section of your Binance account (see the image below).
You should then see this image
Make sure ‘enable futures’ is ticked! you will need to first click on ‘edit restrictions’ in order to tick the ‘enable futures’ box.
Also, make sure: enable trading, read only, and unrestricted is ticked.
It’s important you make your Binance Futures account BEFORE generating your API keys
You should then have both the API key and the secret key, which you will need to connect the crypto signal auto trader to your bot.
Now you might be on a different exchange, for example BitMEX, which in that case may require you to take slightly different steps However, the overall objective of needing to generate API keys is the same regardless of your cryptocurrency exchange.
Once the crypto signal auto trader is connected to your exchange, you will now be able to follow signals automatically. You will also be able to execute trades a lot more easily, as you will be able to set a buy and sell price before entering a position. This is much easier than manually placing buy and sell orders on your exchange, as you could make mistakes with trade execution.
Now, let’s take a look at some popular crypto signal auto traders for BitMEX and Binance Futures.
1. MYC Signals (@MYC Signals)
- Number of Subscribers: 40k
- Focus/Description: Provides crypto calls on the Binance Futures and BitMex cryptocurrency exchanges, and also educational content on cryptocurrency trading.
- Approximate Post Rate: 5+ signals per day
MYC Signals is a popular crypto signal auto trader that was launched by the well-respected cryptocurrency publication, Mycryptopedia.com. MYC Signals focuses on providing high-quality crypto calls on Binance Futures and BitMex.
Getting started with MYC Signals is very straightforward, just follow the steps below:
1) If you have an account on the Telegram messaging app, then the easiest way to get started is to reach out to our admin by sending a message to: @MYCSupportBot who will let you know more about the service that we offer and how to get started. You can also join our free crypto signal group, MYC Signals. If you don’t have the Telegram app, then the next best thing to do is to send us an email to: contact@mycryptopedia.com. Once we’ve received your email, the MYC team will then walk you through everything that you need to know to get setup.
2) MYC Signals offers 2 premium VIP channels that you can join to start receiving crypto signals: MYC Binance Futures Signals VIP and MYC BitMex Signals VIP. Membership to these groups can be paid via cryptocurrency or card at the payments page.
3) Once you’re a premium member, the MYC team will help you with everything that you need to help you get setup, so that you can start following our calls and making money passively. The MYC team also have 24/7 customer service, to help you any time.
2. Verified Crypto Traders
- Number of Subscribers: 8k
- Focus/Description: This group mainly focuses on signals for Binance and Bitmex.
- Approximate Post Rate: 2-3 signals per day.
Verified Crypto Trader is another signal provider in the space, focusing primarily on making calls for the Binance and Bitmex cryptocurrency exchanges. This is another solid group that have a team dedicated to identifying trading opportunities in the market.
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 around for a while now, and have built a reputation for providing consistent results for their members with their more macro focused approach to trading.
4. Yo Crypto
- Number of Subscribers: 3k
- Focus/Description: BitMex signals.
- Approximate Post Rate: 2-3 signals per day.
Yo Crypto is another solid crypto calls group to check out. Yo Crypto's approach to trading is a bit less technical compared to other groups, so keep this in mind when deciding which group to join. Find the group that suits your trading style the best.
5. WhaleTank
- 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.
We had to round out this list with the team over at WhaleTank. Being one of the first ones on the team, WhaleTank have been providing respectable returns for their members for a while now.
Conclusion
That concludes our list of the Best X Crypto Signal Auto Traders for BitMEX and Binance Futures Each group has their own strengths and unique selling points, so make sure to do your own research to figure out which group is the best for you.
