Binance futures is considered the fastest-growing crypto derivatives exchange by trade volume. Binance Futures was launched in early 2020 with the capacity to support the trading of long and short positions on the crypto market. It is an up-and-coming platform from the popular Binance cryptocurrency exchange. Therefore, Binance Future Signals are also equally popular, especially amongst newcomers.
In most cases, investors focus primarily on bonds, mutual funds, and stocks when developing investment portfolios. However, the Binance future market is proving to be very popular and attractive, hence getting massive attention from investors because of the numerous benefits derivable from trading it. Investors adopt futures to speculate and hedge without any obligations to own the assets. Trading signals are directives sent to an individual instructing them on which digital currencies to trade.
An ideal signal contains the following information:
1. The Cryptocurrency to Buy: The signal is specific regarding which digital currency to purchase, such as BTC. ETH and XRP.
2. The Buy-in price: The signal also specifies the price at which the individual should buy the prescribed currency.
3. The Sell-target: The price to sell to make a profit is also specified.
4. Stop-loss: A system that automatically helps you exit your position to avoid losses is also factored in.
How To Identify Best Binance Future Signal Provider?
It is difficult to predict the profitability of a trend by merely looking at it. It is, therefore, very fundamental to follow dependable trade signals from trusted signal providers. Therefore, a fantastic way to do this is to see crypto trading as an investment and not an avenue for making quick money.
As a newbie, there are fundamental guidelines you need to follow to be successful in the crypto trade or before subscribing to trade signals. They include:
1. You Need to Create a List of top Binance Future Signal Providers.
You have to primarily develop a list of top Binance Futures signal providers as a starting point. With able to adopt a search engine, read up feedbacks, and reviews. The reviews should guide you in your decision-making devoid of emotions.
2. Consider the Pricing Model
One way to also get trusted trading signal providers is to study the pricing model closely. It would help if you considered Binance signals offering multiple subscription options on a monthly, quarterly, half-yearly, and annually bundle basis.
Typically, top Binance futures signals subscription varies from $70 to $100 per month, with most offering discounts. It would help if you avoided providers offering a lifetime only subscription.
3. Communication and Customer Support
Another vital feature to consider when making a decision is the availability of customer support. A right Binance futures signal provider takes customer support as an integral part of its process.
Their willingness to communicate and the professionalism of their support team is very vital in your decision-making process. You will do well to avoid providers who do not have customer support or are unprofessional in their communication process.
4. The Signal Provider’s Activities during Market Fluctuations
An organized futures signals provider is always consistent in their activities when there are fluctuations in the crypto market. When prices become unpredictable, a good provider owes it as a duty to inform you. You cannot trust providers who are erratic and inconsistent.
Channels and Mini-reviews
The channel result is a vital index to recognize precise signal providers. Typically, almost all signal providers share their results with their subscribers. It is also paramount to pay careful attention to providers who only share positive results.
The truth is, no provider can be 100% accurate when it comes to predicting futures; therefore, having a provider with 100% positive results daily should be a red flag for you.
Finally, you should look out for mini-reviews from other users, which will guide you in your decision-making.
Vital Features to Look out for in Future Providers
1. Clear Crypto Signals
Adopting clear crypto signals help a great deal to improve the strategies you apply as a trader. Binance futures signals provide real-time signals to guide a trader’s entry or exit of a trade. The platform regularly offers technical analysis and educational content for crypto traders. Therefore, traders can depend on Binance Future signals for accurate information to help them take an instant position.
The Binance futures teams’ technical analyses provide insight into the market behaviour on a daily, weekly, and even monthly basis and can provide explanations in the event of a sudden spike or drop from what was predicted.
2. Crypto Signal Frequency
Ideally, any right signal provider should offer multiple signals to help traders make informed decisions. However, due to the risks involved in leveraging trading, users are advised to be careful when using the tools. It is best to trade with care, adopting a proper risk management strategy to analyse the multiple signals.
Proper Risk Management: one untold secret of becoming a successful trader is a good risk management strategy. Binance Future signals expose you to the concept of risk management when trading futures shares. Binance Future signals help to equip traders with the right signals to aid in risk management.
Advantages of trading on Binance Futures
A few reasons why many traders consider trading on crypto futures include:
1. Binance Futures provide traders with the opportunity to short selling Bitcoin and other digital currencies. This strategy involves selling cryptocurrencies at a high price, hoping that the price drops while you repurchase it at a lower value making a profit in the process. Through this strategy, traders can hedge their positions and improve their risk management thereby protecting their investment during prolonged price declines.
2. It offers Capital efficiency through leverage. Using leverage, with Binance Futures, you can enter a trade with a fraction of the cost.
3. Trading is done on a safe and secure platform with multi-tier and multi-clustered architecture with high liquidity required to deliver high processing output.
Cryptocurrencies that Binance Futures Support
Some of the cryptocurrency pairs currently supported by the Binance Futures include Bitcoin cash (BTC)/USDT, Ethereum (ETH)/USDT, Litecoin (LTC)/USDT, Chainlink (LINK)/USDT, and Ripple (XRT)/USDT.
Conclusion Of Binance Future Signals
Binance Futures is the next big thing in investing at the moment. However, to take advantage of what is on offer, investors need to leverage on the knowledge of Future signals. Furthermore, you can take advantage of a lot of signals from our own website as well.
There is a lot of scam going on also because of the seeming ignorance of newbies. This article has provided enough helpful information to ensure you make the right decisions.