7 Criteria for Choosing Successful Traders on the Cryptocurrency Market

[AndreaSchmidt]

Most beginners wonder how to make money quickly by trading Bitcoin. They are often looking for ways to skip the process of learning the technical analysis for all the coins, skimming through all the literature, and constantly following all the news in the sphere. The reason some people hope to skip the educational part of the process is that they see how rapidly the market is developing and understand that while they study all the aspects of the current state of affairs, the knowledge, once obtained, will no longer be pertinent.

Many beginner traders turn to experienced traders for help, which is a good idea because it saves money and allows you to get valuable, trustworthy information first-hand, provided that the trader is honest. However, while there are chances to find the best traders who will share their valuable experience with you, there are also chances to run into fraudsters and lose everything you’ve invested.

Telegram Crypto Channels

If you go to Telegram and look for cryptocurrency channels, you will probably be shocked by the amount. Finding the best crypto signals on Telegram is as hard as finding a needle in a haystack. Based on my experience, only three out of ten channels that seem real and profitable will actually help you generate a profit. However, what should you do to find them if you cannot afford to buy signals for every channel that seems good enough? The answer is simple - choose the channels carefully based on the seven most significant criteria that will help you get through to the leaders and avoid the scammers.

Criteria for Choosing Trustworthy Telegram Traders

1. Statistical analysis. The first thing you should do when analyzing a channel that seems good is check its past. Go through all of the cryptocurrency trading signals that are available out there and see how they performed.

 

2. The best signals are never free. The moment you accept this simple truth, you will be safe from a huge amount of scams that may come your way. Millions of people around the world want to make money trading cryptocurrency, but not many succeed in doing so. There are successful and profitable traders who earn a lot, so it is no surprise that they charge a lot for their advisory services.

 

3. Communication is the key. Buying and selling Bitcoin successfully requires a lot of communication with other people in the sphere. When choosing a Telegram group, try talking to its administrators to check their quality of communication. Pay attention to the speed of their response, their quality, politeness, and accuracy. Proficiency in English matters a lot as well because the most valuable news about cryptocurrency is typically in English.

4. Presence of an open chat and/or a website. If a channel doesn’t have an open chat or a website, avoid it at all costs. Imagine that you have no opportunity to express your feelings in the event you are not satisfied with the services you receive after paying for the subscription. Does this seem fair and honest to you? If there is no way to contact the channel or other users who have subscribed to it, it is probably because the administrators are afraid of what you or other users have to say.

 

Visit Safetrading website to get more information about the criteria for choosing the right crypto traders, whose advice you can trust. Learn how to tell the professionals from the scammers and grow your investments safely.

This is a brief summary of an article published on Safetrading blog. If you would like to receive more detailed information about the main Criteria for Choosing Successful Traders on the Cryptocurrency Market, read the full article

[Garpolen]

Although crypto market is a relatively young market same rules can be applied as for any other market. The most similar to crypto is forex market. So, it is absolutely must to learn how to use and apply technical analysis and some fundamentals which are specifically related to cryptos