Must Read: Scams disguised as premium signal groups/channel

[kotajikikox]

Conclusion:
Rather go for technical analysis nad learn to read indicators and back test the date you will be in a better position to trade rather than joining paid groups.

Going back years when we are new here  in market Like me loving to join free signals and thought I will become rich using them but what have I got? being a victim of pump and dump project and losses multiple times , till I learned that all of those signals are just copy trading and being paid by teams to shill for their projects, so if you wanted to deal in signals make sure that you knew what you are dealing and better to just use your position trading if not use your own time checking the project .

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[Bananington]

It's always good and very advised to study the project blue print or white paper so as to know what one wants to venture into and the likey outcomes of joining such a group.
 
The group formed to forecast odds or make predictions for games to be played only formed such to make the best profit. Once they can successfully analyze the outcomes of several games, and have a bet code for it, the simplest thing is to create variations and post it into their group, such that anyone slip code betted on would produce a reward.

I wouldn't blame them though, because they make money from paid participation too and unlike any gambling business, the goal is to make profit and it might come at the cost of advertising success stories or testimonials to this end.

It's just to be careful to study the project idea or vision before joining or participating in any of its activities.

[AicecreaME]

That's why I never joined any of them even though I was just starting trading way back then.

Paid cryptocurrency signal groups are not worth it for your money, you might want to spend your money on your trading journey rather than trusting random people who "provide" trading signals. You have to know that technical analysis will not always give you profits, so why pay someone for it if you can make on your own. Making your own will help you grow, you might lose a lot of money first before your trading accuracy will increase but it's worth it in the long run.

[TimeTeller]

That's why I never joined any of them even though I was just starting trading way back then.

Paid cryptocurrency signal groups are not worth it for your money, you might want to spend your money on your trading journey rather than trusting random people who "provide" trading signals. You have to know that technical analysis will not always give you profits, so why pay someone for it if you can make on your own. Making your own will help you grow, you might lose a lot of money first before your trading accuracy will increase but it's worth it in the long run.

Though I subscribed to free signal groups before, I haven't been in a paid one.
As I just wanted to observed how they are doing the announcement to their subscribers.
I found it not helpful as usually they will give the signal a lil bit late and you will be screwed if you followed their tips.
I don't know when it comes to paid ones, but I believe it is the same as they won't disclose all as mentioned by the OP.
There's no single paid signal group that has been highly recommended, meaning, there's none that is true to their claim.
Better learn your own trades and acquire those tricks thru experience. No one can steal those strategies from you.

[God bless u]

That's why I never joined any of them even though I was just starting trading way back then.

Paid cryptocurrency signal groups are not worth it for your money, you might want to spend your money on your trading journey rather than trusting random people who "provide" trading signals. You have to know that technical analysis will not always give you profits, so why pay someone for it if you can make on your own. Making your own will help you grow, you might lose a lot of money first before your trading accuracy will increase but it's worth it in the long run.

Yes exactly the money which you are going to spend on getting signals can also be used to buy a better coin so in such situations the signals which you are getting by giving money to them are not always accurate. There are large number of people who do not know anything but offering signals to others due to which signals providers are earning more but receiver are losing usually .

If a person takes help from signals but after some times he learn and do by himself then it make sense but if a person is depended on signals always then it worth nothing because you will surely spend on getting signals and utilize the money which you take as a profit during trading. Learn by yourself and then continue trading because signals can reduce your profit but your own hard work will move you ahead to reach better destinations.

[Nrcewker]

I am not saying that all the signal providers are scammers. Some do really provide good signals that often works. But majority of the channels are just scammers, who just take money from you and gives wild predictions. For them marketing is the most important thing and they don’t care about their subscribers. It’s really hard to find legit channels who offer good calls. Now to avoid these types of situations, I must say copy trading is great.

[bayu7adi]

I was also once part of a one-month premium cryptocurrency signal group on Telegram, but I didn't renew it. Some of the things you mentioned are indeed true. Signal providers often share enticing information with free members to entice them to subscribe to their premium, paid channels. Well, there's no harm in trying, right?

During my one-month experience, they provided around 50 to 60 signals for altcoins and Bitcoin. They also compiled comprehensive reports with a quite impressive win rate, above 80%. However, the issue was that some signals took longer to play out, even months beyond the predicted timeline. It's as if the service provider wanted to make sure the signals really won to boost the accuracy rate when the report was compiled. Maybe some of you are familiar with this Telegram channel: Fed. Russian Insider. Yes, I subscribed there for the first month at a cost of 20 USDT.

So, I consider it a valuable experience and knowledge for the price of 20 USDT. It was worth it to understand how they operate.

[South Park]

I am not saying that all the signal providers are scammers. Some do really provide good signals that often works. But majority of the channels are just scammers, who just take money from you and gives wild predictions. For them marketing is the most important thing and they don’t care about their subscribers. It’s really hard to find legit channels who offer good calls. Now to avoid these types of situations, I must say copy trading is great.

On the best case scenario the signals you are receiving are honest attempts to guide you from a mediocre trader that cannot earn their living out of the markets, and if that is the case then there is no reason at all to follow them, however most of the time there is something even more sinister on those signals groups, with most of them being just pump and dump groups that are disguised as signal groups and that are looking to scam their customers.

[mirakal]

Here are some basic questions we need to ask ourselves:
1. If they can help you earn so much profit they would already be ultra rich and wouldn't be spamming your inbox to join their paid group
2. Why don't they share the daily report or weekly to check their accuracy percentage
3. Why don't they make it free even on trail basis so that users can get a first hand experience and join

Signal providers are scammers and nothing more that we can call them. They only care about their pockets and not the signal they give to people. If they give signal and the person trade with it and the person lose, they are not concerned or bothered but happy because of the money the person paid them for giving him the signal. They are just fake as they are and nothing more good than to avoid them.

Anything that ask for money without proven to be effective yet is an initial sign of scam. Even if you are making profits the moment you start, that will never create any guarantee that you'll never gonna be scam anymore. It's a well designed trick by these people and once people fall on their trap, then they will continue to take advantage of our funds until we end up pocket empty.

That's the reason why I don't easily go for paid signal groups or channels, because if their intention is really to help us and make us profitable, they won't be asking money in the first place. It just proves that whether we lose or gain profits, what is important is that they have already gained money from us.

[Assface16678]

I once encountered this situation when I was a beginner in trading. I used to follow a lot of telegram groups to follow signals, and some offered paid signals if they gave free signals that were cheap or of low quality, some just randomly gave signals without basis, and the worst was some asking for your account, saying that they would handle it and that they were the ones who would trade for me. At first glance, as a beginner, you will be struck by the eye-catching and ear-pleasing promises about how much you will get if you invest in them, but in reality, there are more scams than real ones. That's why I stopped following signals and honed my own skills and experience so that I would not rely on scams scattered around, so avoid telegram groups; there are more scams than legit providers there. Even if they give free signals, don't just follow them; analyse them first to see if they're valid.

[TelolettOm]

Before I go any further I would like to clarify that no one can predict the market and I am going to shed some light to the modus operandi of those signal mafia as they add you to their group which is created to attract customers where you will find screenshots about how their signals has helped members to earn a lot of profit and even you can earn huge amount provided you join their premium channel:

There are several differences when joining a free signal group and also a paid signal group. If it's a free signal, most of them provide screenshots of their trading results, including ins, outs and other information, which aims to attract them to join their VIP group which of course is paid. This is not a small amount, because usually there is a fairly expensive fee to join the VIP group. The more people who join, the more profit they will make.
Usually they give several signals a day. And of course, nothing is 100% accurate.

I've joined both free and paid signal groups, there are some differences, maybe one group won't care about their memes. However, there are also other groups that really care about their memes. And in this case, they also said this, that there are no predictions and analyzes that are 100% accurate. So, you have to keep learning and making strategies to be ready for whatever market conditions. And usually, they will share various possibilities that might happen. So they also provide tactics when the market changes direction, when to use SL/CL, when to set hedging, and so on. And they also opened a consultation to learn several things. but of course, maybe one group will be different from another.

But what is certain is that it is true that we should not just focus on signals from the group for trading. because, no matter how good the signal is, if we ourselves don't understand and don't want to learn how to analyze the market ourselves and also evaluate some of the trading things that we have experienced so far, then it's useless. Because we cannot optimally use this signal. In fact, we will actually make the wrong move because we might be late in entering or just relying on the trading signal. So, indeed our insight and knowledge about trading, methods of analysis and evaluation, as well as the various strategies that we must have are very important.

[GreatArkansas]

There are a lot of cases like this. I even experienced before the proclaimed premium signal group/channel was just an impostor of another premium signal group.
It was really surprising because the fee to join to the group is extremely cheap but one day, there's some member found out that this impostor group was just copying on another really premium signal group.

[stomachgrowls]

Before I go any further I would like to clarify that no one can predict the market and I am going to shed some light to the modus operandi of those signal mafia as they add you to their group which is created to attract customers where you will find screenshots about how their signals has helped members to earn a lot of profit and even you can earn huge amount provided you join their premium channel:

There are several differences when joining a free signal group and also a paid signal group. If it's a free signal, most of them provide screenshots of their trading results, including ins, outs and other information, which aims to attract them to join their VIP group which of course is paid. This is not a small amount, because usually there is a fairly expensive fee to join the VIP group. The more people who join, the more profit they will make.
Usually they give several signals a day. And of course, nothing is 100% accurate.

I've joined both free and paid signal groups, there are some differences, maybe one group won't care about their memes. However, there are also other groups that really care about their memes. And in this case, they also said this, that there are no predictions and analyzes that are 100% accurate. So, you have to keep learning and making strategies to be ready for whatever market conditions. And usually, they will share various possibilities that might happen. So they also provide tactics when the market changes direction, when to use SL/CL, when to set hedging, and so on. And they also opened a consultation to learn several things. but of course, maybe one group will be different from another.

But what is certain is that it is true that we should not just focus on signals from the group for trading. because, no matter how good the signal is, if we ourselves don't understand and don't want to learn how to analyze the market ourselves and also evaluate some of the trading things that we have experienced so far, then it's useless. Because we cannot optimally use this signal. In fact, we will actually make the wrong move because we might be late in entering or just relying on the trading signal. So, indeed our insight and knowledge about trading, methods of analysis and evaluation, as well as the various strategies that we must have are very important.

I have some experience in between two when it comes on how analysis is been represent on which you do have some points about showing neither in detail or just simply putting up screenshots.
I could say that if you do join up some groups with having those kind of back up reasons or explanations on why they have done such position then it is really that good for you to learn up
but you could actually be able to make yourself get those kind of information or learning even with those free ones. I have been able to join a group which have that kind of detailed analysis
whenever they do post up their own takes and opinions towards the market on which you could really say that it is really that something worth to be followed.
You are the ones who would really be making such comment whether its really that something good or not.

Just like on what others been saying that it isnt really that necessary for you to pay up for something just for you to learn. There are currently free groups on which you could really be able to
join if you wanted to. Its not really that something risky as long you arent that getting involved with some pumps and dumps. You would directly be able to notice
it out once you do have that sufficient experience with it. For newbies then most likely you would really be that easily get hooked into this but once you do have that experience
then you could spot out it and make out decisions which you do seem that it would really be that something good for you.

[Pandu Geddon]

Before I go any further I would like to clarify that no one can predict the market and I am going to shed some light to the modus operandi of those signal mafia as they add you to their group which is created to attract customers where you will find screenshots about how their signals has helped members to earn a lot of profit and even you can earn huge amount provided you join their premium channel:

There are several differences when joining a free signal group and also a paid signal group. If it's a free signal, most of them provide screenshots of their trading results, including ins, outs and other information, which aims to attract them to join their VIP group which of course is paid. This is not a small amount, because usually there is a fairly expensive fee to join the VIP group. The more people who join, the more profit they will make.
Usually they give several signals a day. And of course, nothing is 100% accurate.

I've joined both free and paid signal groups, there are some differences, maybe one group won't care about their memes. However, there are also other groups that really care about their memes. And in this case, they also said this, that there are no predictions and analyzes that are 100% accurate. So, you have to keep learning and making strategies to be ready for whatever market conditions. And usually, they will share various possibilities that might happen. So they also provide tactics when the market changes direction, when to use SL/CL, when to set hedging, and so on. And they also opened a consultation to learn several things. but of course, maybe one group will be different from another.

But what is certain is that it is true that we should not just focus on signals from the group for trading. because, no matter how good the signal is, if we ourselves don't understand and don't want to learn how to analyze the market ourselves and also evaluate some of the trading things that we have experienced so far, then it's useless. Because we cannot optimally use this signal. In fact, we will actually make the wrong move because we might be late in entering or just relying on the trading signal. So, indeed our insight and knowledge about trading, methods of analysis and evaluation, as well as the various strategies that we must have are very important.

accurate or not, if it's just sharing signals in my opinion it's not a scam either. Apart from that, it was also stated in this group that no analysis was 100% accurate. Even some of the signals shared may not be profitable.
paying or not, when a signal channel does not force or recommend investment in a particular project that looks suspicious, I don't think such a channel group can be called a scam.
I know there may be people who have to pay to join the signal group. but you have to join the group. and the manager is obliged to give a signal to the members. When both parties carry out their obligations and obtain their rights, that is normal.

[tygeade]

I once encountered this situation when I was a beginner in trading. I used to follow a lot of telegram groups to follow signals, and some offered paid signals if they gave free signals that were cheap or of low quality, some just randomly gave signals without basis, and the worst was some asking for your account, saying that they would handle it and that they were the ones who would trade for me. At first glance, as a beginner, you will be struck by the eye-catching and ear-pleasing promises about how much you will get if you invest in them, but in reality, there are more scams than real ones. That's why I stopped following signals and honed my own skills and experience so that I would not rely on scams scattered around, so avoid telegram groups; there are more scams than legit providers there. Even if they give free signals, don't just follow them; analyse them first to see if they're valid.

Even if you are already an expert and you still join a signal group, you will still come across them. But the only difference is you can now easily tell if who is telling the truth and who is lying. You shouldn't expect too much from a free signal because they are only free anyway.

Though there are some really good trials. They can either be a trap and scam you later on, or what you see is also what you will get once you already subscribe to their premium group. Those who ask for an account must be a different service. I already saw like that. It could be that their accounts were already limited and they are still legit to give you a commission but just be careful as many can use that to hack other's account.

[kingvirtus09]

To be honest, there are a lot of crypto signals that are infested with scammer groups. Many of them are victims of telegram channels. I was curious before and tried to join to find out what their styles were.

And that's what I saw: in the beginning, all the groups agree to believe the target person they will victimize, then when they see and get the trust, they will tell the sign that it is necessary to take out money, and in the beginning, they will feel they are true by showing the investment of the money entered and offering to invest again to earn more.

[Hamphser]

I once encountered this situation when I was a beginner in trading. I used to follow a lot of telegram groups to follow signals, and some offered paid signals if they gave free signals that were cheap or of low quality, some just randomly gave signals without basis, and the worst was some asking for your account, saying that they would handle it and that they were the ones who would trade for me. At first glance, as a beginner, you will be struck by the eye-catching and ear-pleasing promises about how much you will get if you invest in them, but in reality, there are more scams than real ones. That's why I stopped following signals and honed my own skills and experience so that I would not rely on scams scattered around, so avoid telegram groups; there are more scams than legit providers there. Even if they give free signals, don't just follow them; analyse them first to see if they're valid.

Even if you are already an expert and you still join a signal group, you will still come across them. But the only difference is you can now easily tell if who is telling the truth and who is lying. You shouldn't expect too much from a free signal because they are only free anyway.

Though there are some really good trials. They can either be a trap and scam you later on, or what you see is also what you will get once you already subscribe to their premium group. Those who ask for an account must be a different service. I already saw like that. It could be that their accounts were already limited and they are still legit to give you a commission but just be careful as many can use that to hack other's account.

Once you do have the experience then you do really know on how to spot out those scams immediately comparing into the time or moment that you are really just that starting up on which you would really be that
not able to notice on which place or thing is scammy or not but on the time that you do have that right time or moment that you do have been engaging into this market then you are already getting used to it
then for sure it wont really be that so hard for you to be able to see if anything is really that indeed shady. Joining up signal groups could neither be beneficial for you or not since you could really be able to check
out whether those analysis would really be that something considerable for you to get and apply into yourself. You could really be able to differentiate on whats useful and whats shit.
Therefore experience would be always the key into this one.

[tjtonmoy]

Doesn't matter how good you are at analyzing scams and legit things that will always be people / scammers coming with new ideas every day. And it's not the people who have been around for a long time that falls for those scams rather it is the newbies who fall for it easily. Knowledge is everything and experience is the key to avoid such thing. Even if there's a legit signal group / channel, why should one rely on it? I mean, what can you gain from it? Profits? For how long? Everything has an ending and it will eventually end one day.

Although it can be used for a learning instrument. There's a lot of free signal group that provides you with various signals or upcoming trade analysis. You can combine many data and compare them with each other to see which one has the most similarities with others and use that to verify your own analysis. That way you can gain some confidence on your analysis. But in the end that's not the best way to do it. Trial and error is the way to go. Use small amount to learn and when you master it you should move on to the bigger picture.

[bitzizzix]

Actually, no one can deceive you unless you allow yourself to be deceived because of carelessness and easily believe the promised benefits, fraud is always everywhere and it doesn't look like fraud because fraud will happen at the end of the story.
It is best to learn more about trading yourself, and become an expert in fundamental and technical analysis so that you can thrive in the world of cryptocurrency and it all depends on your hard work and efforts to do so.
And since I got involved in this industry, I never wanted to get involved or know about cryptocurrency trading signals or channels, no matter whether they are true or scams. And I always try to develop and correct the abilities and knowledge that I have. And whether the results are good or bad, it will be a satisfaction for me.
If my trade is not profitable then I will correct the mistake and if it is profitable I will increase it and I do it according to my ability.

[joniboini]

accurate or not, if it's just sharing signals in my opinion it's not a scam either. Apart from that, it was also stated in this group that no analysis was 100% accurate. Even some of the signals shared may not be profitable.
paying or not, when a signal channel does not force or recommend investment in a particular project that looks suspicious, I don't think such a channel group can be called a scam.

I think giving them leeway is going to make it worse. Sure, nobody forces the members to follow their call, but if they consistently make pump-and-dump signals or even fake calls, then we should at least call them shady instead of a signal group. People will always put disclaimers like that to avoid liability, but I'm pretty sure we can at least argue if they are doing it purely in good faith or not depending on how they make the calls. But yeah, I do agree that people should just ignore them altogether. Finding one that do it in good faith is almost impossible.