- Kryll automated trading strategies allow users to create and run crypto investment tactics on the cloud.
- Kryll allows users to integrate their strategies into major exchanges like Kraken, Binance, Bittrex, HITBTC, FTX, and KuCoin.
The onset of Covid-19 has shaken the whole world economy. In tumultuous times like these, people look for an alternative source of income or investment to ensure a degree of financial security. While the stock market seems to be an obvious choice, cryptocurrencies have arisen as a potential investment vehicle that has given massive returns to investors.
Despite the ongoing pandemic, Bitcoin, the biggest cryptocurrency by market cap, is up by 350% in a year (Feb 2020 – Feb 2021). Other cryptos followed the lead of their master and experienced exponential growth and price rallies.
Further, with reduced mobility around and with the payment market rapidly digitizing, everyone is looking at the options that are convenient, cost-effective, and reachable. Nowadays, a majority of people prefer doing everything from home and the only safest way to invest is through digital options.
So, they consider choosing a digital platform that offers a seamless and simple way of investing with no to minimal human engagement required. That is where the trading tools are coming into the picture.
Significance of Trading Tools in Crypto Market
When traders enter the crypto space, they need to prepare themselves as any soldier before heading into the battlefield. In addition to important items like a helmet, guns, and ammunition, a soldier needs a Swiss Army Knife – a tool with multiple use cases, even life-saving uses.
If truth be told, the crypto market is nothing less than a warzone because it is unpredictable than all other investment options. Unless you’re dealing with stablecoins whose prices remain constant, all other cryptocurrencies are highly volatile, meaning their value changes in a blink of an eye.
These price fluctuations limit the effectiveness of anyone’s trading ability, including pro traders. In many cases, investors cannot react quickly enough to achieve optimal trades.
Timing the crypto market requires constant monitoring of crypto exchanges globally, which is next to impossible. A trading tool, like Kryll, is the Swiss Army Knife that a trader needs when entering into the crypto market’s battleground.
Kryll Overview and Benefits
Launched by veteran crypto traders in France, Kryll is an automated trading strategies building a platform that allows users to create and run crypto investment tactics on the cloud.
For those unaware of automated trading, it is essentially trading activities executed by a pre-programmed script. Since everything happens autonomously, traders don’t have to choose trades manually or even execute buy and sell. Being an automated trading protocol, Kryll carried several benefits.
- Kryll does all the tasks related to micromanagement. Therefore, traders can simply sit back and let the platform do all the hard and smart work.
- The protocol does not suffer from fatigue, opening up doors for round-the-clock trading. If traders can design a strategy that performs exceptionally well consistently on Kryll,they can passively make constant profits.
- Both beginners and professional traders can use Kryll to create custom trading tactics utilizing its user-friendly drag and drop-style platform.
- Users can integrate their strategies into major exchanges like Kraken, Binance, Bittrex, HITBTC, FTX, KuCoin, and Liquid to centralize their portfolio and trade effectively.
- Kryll also allows users to backtest their strategies to avoid any mistakes and loopholes while performing trading activities in the real-time crypto market. The testing is free of cost and without any constraints.
Furthermore, Kryll incorporates a unique “What You See Is What You Trade” technology to provide a simple yet powerful strategy defining interfaces based on blocks and flows. Traders can use flows to understand the confluence of signals, operators, and significant data.
On the other hand, blocks can be used to build a strategy as per the market trends, trading actions, signals, operators, and notifications.
Don’t Know Any Strategies? Kryll Marketplace Can Save the Day
For those unfamiliar with trading strategies or who don’t know how to create one, Kryll Marketplace might be worth exploring. It is a marketplace consisting of ready-to-implement trading tactics designed by the Kryll community of traders.
Each strategy available on Kryll Marketplace is transparent. Therefore, anyone can verify if an underlying strategy is profitable for them or not and chooses accordingly. It also helps traders to consider time, balance risk/rewards, etc., to avoid any risks. While some automated strategies are free to use, others have a price, which can be paid for using Kryll’s native KRL tokens.
Moreover, KRL is also used for paying for using any (whether yours or someone’s) Kryll automated strategy in live mode. To give you some info on the pricing/payments, Kryll offers three options –
- A user is trading with a strategy on a pair including KRL (e.g. KRL-BTC), then it’s free.
- A user is trading with his own strategy on a pair not including KRL (e.g. BTC-ETH), then he/she will pay 1% commission to Kryll.
- A user is trading with someone else’s strategy not including KRL (e.g. BTC-ETH created by publisher Mr Doe), then he will pay 1% + an additional amount(between 0 and 1% requested by the publisher).
Trading cryptocurrencies represents an alternative method to diversify a portfolio. However, to make the most out of this space, traders require technical skills, time, analytical knowledge, discipline, and proficiency using professional tools. Kryll makes it all easier by offering a comprehensive suite of trading tools and strategies for users to achieve true success.
While the platform has the potential to increase the chances of winning, it is recommended that users do their research before jumping onto the crypto bandwagon because the space is extremely volatile. A single mistake can rekt anyone, even professionals. Think twice, trade wisely!