is it Advisable joining Bitcoin signal group?

[DooMAD]

I'm probably a bit late to the topic, but I'm firmly in the 'NO' camp for this one.  

There's no accountability and no accreditation.  You're relying on investment advice from total strangers, who may sound confident, but could be total amateurs themselves.  You have no way of knowing for sure who these people are, whether they have any background in finance or economics, or what their level of experience is.

Worse still, there's also the chance someone in the group (or even multiple people in the group, if there's collusion behind-the-scenes) could be influencing others to invest in ways that profit the people giving the "advice" and taking advantage of those receiving the advice.  You could easily be fresh meat for the grinder and not even realise until it's too late.  There's so much potential for a seriously bad outcome.

As a general rule, if people really knew how to make a guaranteed profit doing this, they would probably keep that info to themselves and rinse the market for all it's worth.  They're not likely to share the secrets of how to make that profit with total randoms like you or I.  You are more likely to be the source of that profit for them if they can turn you into their puppet.

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[Hypnosis00]

So what do you guys think, let's share knowledge.

I would say not but I wanted for you to experience joining them so you can't tell that we are not lying to you. So you can decide and say what you have experienced and it serves as a learning experience on your part. There are free signal groups available that you can try but you still need to be careful dealing with these people because some are just started as free but after a few days, they ask you for some money. If this will happen, that is also the time to stop following them as it was not what you've agreeing with.

[Mpamaegbu]

What people are doing is to look for victims of what they (the scammers ) are not professional at and use it to scam their victims.

What the so called owners of the signal groups do is fund their lifestyle with the subscription money they get from the unsuspecting public who want to learn from them. However, it's not that profitable traders don't charge money at all but they won't always be on social media day in, day out pushing for people to come to them Ike these charlatans we're talking about do. The real profitable traders do it once in a while to teach. That's actually for the few of them who want to.

It's human nature to not value what one gets for free. So, in most cases, to get learners committed it's good to charge them money. As for trades, most pro traders rather allow others mirror them for a fee instead of writing out signals. Doing that is a distraction from the little I know about teaching and trading.

[Asuspawer09]

I have been reffered to join some signal groups but considering how everyone is claiming to no almost everything about Bitcoin trading which actually they did not, which resulted for many people to lose their money because of Crypto signal groups, were as they put almost all their money thinking the signal is a sure, little did they know they were making a terrible mistake.

I could remember a Bitcoin signal group I joined, as someone that has less knowledge about trading and how sure the group signal works, so I decided to seat back and watch how the trade will work, on the contrary it moves opposite direction and that was not the first time, what they normally do was to get some screenshots from other successful traders and posted on there telegram group to draw more attention so people could pay before joining. Though from my findings from othe traders I was able to deduce that not all group signals are false that most times it works exactly the way they predicted and most time reversal.

So what do you guys think, let's share knowledge.

I don't really recommend joining some of the groups, I mean it could be useful sometimes if you are just a newbie but most of the time these kinds of groups are just taken advantage of for sure if there is money involved there is always someone that is going to take advantage of it, most likely before even they make the signal in this kind of groups most of the people on the top that going to make the signal is already bought or already on the position so that when they signal investors to buy to pump a certain token they could easily dump their holdings leaving most of the investors lose there money in the end.

You are already here in the forum, most of the things are already here in the forum and you could easily ask if you're getting an issue most of the members here are experienced in the cryptocurrency space and have investors for years, everything you need is already here if you're really going to start your cryptocurrency journey you should learn it on your self and dont depend to anyone, especially to this kind of groups.

[cryptodude]

Most signal groups are scammers. First, a normal signal group will ask you to go to a VIP group in exchange for dollars. But yes, since technical analysis has been treated for a long time and has taken some concepts related to the market, sometimes some signals are useful. But not all signals are useful. You can also analyze the market well before investing.

[lizarder]

Though from my findings from othe traders I was able to deduce that not all group signals are false that most times it works exactly the way they predicted and most time reversal.

So what do you guys think, let's share knowledge.

There's nothing more special than this group of signals and you don't have to follow them completely. Many grub channels invite people uncoordinated and there is nothing to be expected for trading learning there. I did not study the channel group and be wary of trusting them, better learn trading and investing on bitcointalk than on the channel group. In the end they will look for members to make money and many people are stuck with this condition because they will definitely ask us for money.

So be careful trusting groups that are not clear, because many groups today are deliberately created for fraud. Trading and investment learning will be easily learned independently and if we have not mastered it conceptually, we can learn it by getting involved in small amounts first.

[Victorik]

It is obvious you already know that these signal groups are fraudulent. Some of them are out there to scam unsuspecting victims.
I hardly believe those signal they drop, sometimes be rest assured that those calls will rug and disappear with your funds.
So, to answer your question, it is not advisable to join these signal groups. That's my personal opinion though, not a financial advice.

[carlfebz2]

It is obvious you already know that these signal groups are fraudulent. Some of them are out there to scam unsuspecting victims.
I hardly believe those signal they drop, sometimes be rest assured that those calls will rug and disappear with your funds.
So, to answer your question, it is not advisable to join these signal groups. That's my personal opinion though, not a financial advice.

Good thing that you've been wary on something like this which its actually true, usually newbies are the ones who get victimized with these kind of groups on which they are really that targeting into those people who

do really love on fast tracking out their progress or on how they would really be able to make money and this is where mistakes and errors do usually happen because they are really just that lazy or getting blinded on the money which arent even generated or earned yet. On the time that they would lost up money out of those sub fees then this is where realization begins. They might have able to avoid it if they are really just
that sensible on what they are doing or on having that realistic approach on things and not something about being delusional on being profitable on short time.
Trading isnt something that so simple that you could deal with, you would be needing ample time and lots of efforts for you to make yourself that efficient on this field.

[mvdheuvel1983]

A Bitcoin signal group is just like any crypto community on the internet with thousands of members from all backgrounds who do not know themselves. It's risky. You could learn alot from these strangers and you could also get scammed by the bad eggs. That's is why any offer they are making to you, just remember that if it is too good to be true then it is not what it is.

A Bitcoin signal group is no different. You have the internet to do your own research on whatever offers they are making you. Don't be too stupid ask the right questions.

[Vaskiy]

A Bitcoin signal group is just like any crypto community on the internet with thousands of members from all backgrounds who do not know themselves. It's risky. You could learn alot from these strangers and you could also get scammed by the bad eggs. That's is why any offer they are making to you, just remember that if it is too good to be true then it is not what it is.

A Bitcoin signal group is no different. You have the internet to do your own research on whatever offers they are making you. Don't be too stupid ask the right questions.

Yeah, it is kind of data sharing. There are free as well as paid signal providers. Everywhere you'll be provided with suggestions and it is upto us whether to make a trade or not. According to me, being part of the group will let you know about crypto currencies in demand. Apart, it can be considered as a reference data for a trade. Further we need to analyse and make the trade or leave it. With paid signals it is much of money focused than support, because the winning credit taken by the signal providers and the loss on our mistake.

[Wend]

So what do you guys think, let's share knowledge.

I would say not but I wanted for you to experience joining them so you can't tell that we are not lying to you. So you can decide and say what you have experienced and it serves as a learning experience on your part. There are free signal groups available that you can try but you still need to be careful dealing with these people because some are just started as free but after a few days, they ask you for some money. If this will happen, that is also the time to stop following them as it was not what you've agreeing with.

I think the same, there is no advice that works as well as my own experience, so I also advise OP to try with the signals to see if what we say is true or false. That's why I don't usually give "no" advice to newbies, I want them to experience whatever they suspect so they have the most realistic view. Sometimes losing money will be very unfortunate, but it teaches us a lesson, not a waste at all.

[komisariatku]

I have been reffered to join some signal groups but considering how everyone is claiming to no almost everything about Bitcoin trading which actually they did not, which resulted for many people to lose their money because of Crypto signal groups, were as they put almost all their money thinking the signal is a sure, little did they know they were making a terrible mistake.

I joined a crypto signal group, but I never leave my decision to such a group. The decision is always mine, sometimes I agree with the group's signal, sometimes I don't use it at all. I use my money so I don't want to leave the decision to them. Besides, I don't think anyone can predict very accurately even if one is highly skilled. In the world of markets, although there are techniques and analysis, the factor of speculation is also considered

If you join a crypto or bitcoin signals group, we recommend using those signals to complement your analysis, or to weigh in on your decisions. Nothing is certain in the world of crypto, we must be prepared with all the risks we take

[posi]

I have been reffered to join some signal groups but considering how everyone is claiming to no almost everything about Bitcoin trading which actually they did not, which resulted for many people to lose their money because of Crypto signal groups, were as they put almost all their money thinking the signal is a sure, little did they know they were making a terrible mistake.

I joined a crypto signal group, but I never leave my decision to such a group. The decision is always mine, sometimes I agree with the group's signal, sometimes I don't use it at all. I use my money so I don't want to leave the decision to them. Besides, I don't think anyone can predict very accurately even if one is highly skilled. In the world of markets, although there are techniques and analysis, the factor of speculation is also considered

If you join a crypto or bitcoin signals group, we recommend using those signals to complement your analysis, or to weigh in on your decisions. Nothing is certain in the world of crypto, we must be prepared with all the risks we take

Agreed, we can use signals as long as they are free and we should have knowledge. I mean, we only use them as a reference, never depend or rely on them. I used to lose money trading by myself, but I don't regret doing everything myself. I may lose, but in return, I gain knowledge and experience, which we will never have when dependent on other people's signals.

I am not conservative like many others, we don't need to stay away from every signal because it is also knowledge, and knowledge is timeless, as long as it is used correctly, it will always work for us.

[BenCodie]

There's nothing wrong with joining a group if there is educational value and community discussion. Just be careful of your money and don't spend anything. If it's one of those telegram channels boasting huge returns from signals and no replies allowed in the group or a group flooded with fake accounts shilling success stories just leave.

Good groups will allow you to chat with the community freely, put no pressure on paying for a premium service, let you review and analyse any research into past stories, you'll be able to talk with other members about their experiences etc. You should interact and build trust before throwing money at anything...generally it's not advised as no one has a crystal ball.

[Rupok]

Trading should never be done by trusting the signal group. Before doing any trading, you have to analyze yourself and take the advice of an experienced person.  Currently many scammers have opened bitcoin signal groups.  They give different fake news to mislead people. As cryptocurrency is uncertain so it is not possible for anyone to give accurate forecast and signals.There are some youtubers who talk about joining different signal groups to increase their channel views. So we should be careful about crypto trading groups and avoid those who call themselves as signal groups.But there are some good groups which are very hard to find who give good analysis and signals about cryptocurrencies, groups like Binance give good signals, join the verify group.

[Victorik]

One time I was sent one of these signal groups, so out of curiosity, I decided to join and behold one token that I know of that has long rugged was been shilled there. Immediately I saw that, I quietly left the group.

[Blitzboy]

I'm probably a bit late to the topic, but I'm firmly in the 'NO' camp for this one.  

There's no accountability and no accreditation.  You're relying on investment advice from total strangers, who may sound confident, but could be total amateurs themselves.  You have no way of knowing for sure who these people are, whether they have any background in finance or economics, or what their level of experience is.

Worse still, there's also the chance someone in the group (or even multiple people in the group, if there's collusion behind-the-scenes) could be influencing others to invest in ways that profit the people giving the "advice" and taking advantage of those receiving the advice.  You could easily be fresh meat for the grinder and not even realise until it's too late.  There's so much potential for a seriously bad outcome.

As a general rule, if people really knew how to make a guaranteed profit doing this, they would probably keep that info to themselves and rinse the market for all it's worth.  They're not likely to share the secrets of how to make that profit with total randoms like you or I.  You are more likely to be the source of that profit for them if they can turn you into their puppet.

After all, its never too late for a good argument. Okay, I get your worries. Investing advice on the internet may be like the wild west, with few reliable authorities to rely on. The surface explanation is incomplete. Someone with a gloomy outlook would conclude that everything is an illusion and that a powerful elite is plotting to exploit us for financial gain. But that's making generalizations. Even though its a fact, generalizing about all internet discussion boards would be unfair.

Imagine helpfully that online groups are like underground vaults full of hidden gems. The garbage piles up, thats for sure. Pearls of wisdom, however, can be unearthed if one looks deep enough. Never invest blindly on the advice of others; instead, exercise extreme caution, probe for clarification, and conduct your own investigation. And keep in mind that having faith in complete strangers online is not the same thing as having an optimistic outlook. Actually, no.

[Games.Bitcoin]

Signal group doesn't seem very useful to me. Since the movement of Bitcoin is not controlled by a central bank, it is very difficult to predict its rise and fall. But yes sometimes one or two signals can be useful. Most signal groups are scammers. First give free advice and then ask to be added to the VIP group in exchange for dollars.

[zeuner]

When adopting technology that can bring decentralization, it's of course always advisable to complement it with all sorts of centralization (e.g. from a messenger) you come across...

Speaking of which: What is the best Bitcoin-related community in the Lemmyverse?

[Negotiation]

All cryptocurrency groups will provide reliable and accurate signals, leading their members to amazing profits but this may not always be the case, as you should not always trust cryptocurrency signal groups. It is better to analyze the market yourself and trade. As the cryptocurrency market has grown exponentially, so have the number of scammers and the methods they rely on. Scammers create crypto tokens with the sole purpose of extracting money from their investors in the market, they should market the token to attract investors. That's why signals should be researched well and caution should be exercised before investing in tokens and money.