5 Best Telegram Crypto Trading Bots
The volatility of Bitcoin makes it a very attractive asset for traders, as enormous gains can be captured from the price swings of Bitcoin. However, it can be difficult for traders to generate a return in the crypto market because of lack of experience or lack of time. Because of this, we have seen the rise in popularity of crypto signals as one way to beat the market. We have also seen an increasing use of Telegram crypto trading bots, which are bots that are designed to help traders follow crypto signals and execute more precise trades.
What are Crypto Signals?
If you don’t know what crypto signals are, then here’s a quick rundown. Crypto signals are essentially groups of experienced and skilled traders that will tell you exactly how to trade crypto so that you can generate a profit.
The major advantage of joining a crypto signals group on Telegram is that these traders dedicate their time analysing trading charts to identify profitable trading opportunities. This frees up your time, as you will not have to constantly watch the charts, as it will already been done for you. This means that if you are able to join a reliable and consistently profitable crypto signals group on Telegram you will be able to grow your money passively.
Crypto signals will usually be formatted in the following way (although you might see some variation from time to time):
- Cryptocurrency – the signal will tell you what crypto you should buy, for example there are crypto signal groups on Telegram that solely specialise in trading Bitcoin, and just provide Bitcoin signals
- Buy – the signal will tell you the price point at which you should place your buy order
- Sell – the signal will also tell you the price point at which you should place your sell order too
- Stop Loss – the signal will also give information on the stop loss, in case the trade moves against the position
Joining a consistently profitable signal group is important, because if you do, all the work that comes with spotting good trading opportunities will be done by experienced traders. You will be able to grow your money passively, without doing much. If you do manage to join a good signal group, then you will receive profit notifications like the one below, which lets you know how much profit you made on the trade and the time it took to make that money.
Now, this might all seem complicated, but a lot of what I have described is handled by Telegram crypto trading bots, which handle everything automatically. Choosing a good Telegram crypto trading bot is important, so let’s first take a look at the functionality that these bots offer.
What are Telegram Crypto Trading Bots?
A Telegram crypto trading bot is essentially a software program that interacts with your trading account by means of an application programming interface (API). An API can be thought of as an intermediary that allows two applications to communicate with each other.
For example, when you use an application on your mobile device e.g. check the weather, the weather application connects to the internet and transmits data to a server. The server then retrieves that data, interprets it, and sends it back to your mobile device. The weather application then interprets that data and presents it in a manner that can be easily understood by the device owner e.g. ‘the weather forecast is sunny’.
A very similar process occurs with Telegram crypto trading bots. By being able to interact with your trading account, a Telegram crypto trading bot can place buy and sell orders for the trader.
When Telegram crypto trading bots are combined with crypto signals groups on Telegram, there are major advantages, such as:
- Trading opportunities can happen at any time. They could happen when you are at work or asleep. Following crypto signals using a Telegram crypto trading bot means that you will be able to follow trades that are released by the signal group automatically and at any time.
- Trade execution is a lot easier using Telegram crypto trading bots. Manually placing a trade could result in mistakes such as entering and exiting a trade at the wrong price points, which could result in lower profits or even a loss. Telegram crypto trading bots solve this problem because you are able to specify the buy and sell price points before entering the trade, which will increase the precision of your trades.
Now that we know what Telegram crypto trading bots are, let’s take a look at some of the options that are out there:
- Cornix
- 3Commas
- Cryptohopper
- Zignaly
- Coinigy
In our opinion, Cornix and 3Commas are good starting points when it comes to choosing a Telegram crypto trading bot. However, selecting a Telegram crypto trading bot is only half the battle, you also need to choose a reputable crypto signals group on Telegram that will be able to consistently generate returns for you.
Let’s take a look at the 5 best crypto signals group on Telegram that you can join today:
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 crypto trading signals service that was launched by the informative cryptocurrency publication, Mycryptopedia.com. MYC Signals focuses on providing high-quality trading signals for Binance Futures and BitMex.
Getting started with MYC Signals is straight-forward, just follow the steps below:
1) If you have an account on the Telegram messaging app, then the best way to get started is to send a quick message to our admin: @MYCSupportBot to get a good idea of the kind of service that we offer. We also recommend joining our free crypto signals group, MYC Signals. If you don’t have the Telegram app, then the next best way to get in touch with us is by shooting us an email to: contact@mycryptopedia.com. Once your email arrives in our inbox, a member of the MYC team will then walk you through everything that you need to get started.
2) MYC Signals offers 2 premium channels for crypto trading 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 signals 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 well-known signal provider in the community, also providing signals for Binance and BitMex. Like most other groups, Verified Crypto Traders have a team of traders who are responsible for spotting trading opportunities for their members.
3. 4C Trading
- Number of Subscribers: 7k
- Focus/Description: Issues signals for BitMex.
- Approximate Post Rate: 2-3 signals per day.
4C trading is another group that provides signals, and have been in the signals business for a while now. The 4C trading style is more macro-focused, and is geared toward trading off of news.
4. Yo Crypto
- Number of Subscribers: 3k
- Focus/Description: BitMex signals.
- Approximate Post Rate: 2-3 signals per day.
Yo Crypto is another solid group to check out. They also aim to generate returns for their members on a consistent basis. The Yo Crypto trading style is less technical than most groups, so keep this in mind.
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.
The team over at WhaleTank rounds out our list. They have been around for a long time too, and have a good track record in generating consistent profits for their members.
Conclusion
As you can see you have a lot of choice when it comes to choosing both Telegram crypto trading bots and signal groups. Do your research and figure out which group suits your trading style best!
