Cryptocurrencies are often incredibly volatile and can see massive price swings in a short time. This makes them ripe for bear traps. A bear trap is a situation where traders wrongly think a coin is about to reverse a downtrend. These events often result in significant losses. This guide will discuss crypto bear traps, how to identify them, and the risks involved in these situations. Introducing Crypto Bear Traps A bear trap happens when a trader buys assets, expecting the…
Kryll is an advanced trading bot and signals marketplace that can help you to improve your market responsiveness. The platform integrates proprietary technology and unique features to provide automated trading options to new and institutional investors.
What Problems Does Kryll Attempt to Fix?
The Kryll trading bot tackles a couple of the most pressing issues currently facing traders. For one, it frees your time up and allows you to remain on top of market developments without having to stay glued to your phone or PC. Second, the market moves quickly, and in a normal trading scenario, you need to monitor these changes to ensure you don’t take unnecessary losses. Using a trading bot like Kryll eliminates these issues.
Another important problem that Kryll is designed to eliminate is technical and hardware barriers. The network offers a cloud-based hosting option that ensures your trading activity remains online. Users can use the interface to set up their bot. From there, the rest of the bot’s actions exist on the cloud. This approach allows you to avoid purchasing dedicated hardware and high-end data connections.
Benefits of Kryll
Kryll users gain access to a slew of benefits that make it ideal for traders. The interface requires no previous experience to navigate. You can also simplify your strategy by taking advantage of the follow-trade features offered.
Flexible Bot Setup
In terms of flexibility, Kryll offers a lot of trading options to meet your investment needs. Specifically, you can program your bot to trade based on price triggers, candlestick color and pattern analysis, and a selection of technical indicators, including MACD, ICHIMOKU, Bollinger, and more.
Kryll provides a secure trading environment for you to operate within. The network integrates an advanced API to ensure your exchange connections are reliable. Notably, the API requires no withdrawal rights. Additionally, it can trade your tokens directly from a hardware wallet.
Kryll traders can use their bots on a variety of top exchanges. Specifically, Binance, Bittrex, HitBTC, Liquid, Kucoin, Kraken, and FTX are supported. As a result, you can centralize your portfolio and trade across your favorite exchanges from one easy-to-follow interface.
How Does Kryll Work
Kryll utilizes a network of distributed servers to ensure your bot remains online. The network combines a marketplace with automated trading strategies so anyone can find a reliable and profitable approach to crypto trading. Here are some of the best features of the platform.
Users can create and share signals to earn a commission. You can also scan through top traders and follow the ones that fit your risk appetite. Copy-trading platforms are ideal for new traders because they allow you to earn while you learn. Once you’re ready to go solo, you can begin to offer your services to new traders starting on their journey.
The marketplace provides Kryll traders with a one-stop location to find all the best trading signals. You can customize your bot with multiple signals. Anyone can rent trading strategies from top traders using the marketplace feature. Once you have the skills, you can rent out your strategies to the community.
Drag’n Drop Editor
Kryll excels in its customizable setup page. In addition, the platform introduces a drag’n drop style programming feature that is much easier for new traders to utilize. You scroll through the signals you like and drag them onto your bot. There is no coding required.
Test Your Bot
Another cool feature that traders find helpful is the bot testing function. Unlike the competition, Kryll offers users free backtests. A backtest is when you run your trading scenario through previous market conditions to see how you would have faired had the bot been active. This feature makes it easy to see when you need to make adjustments and how those changes affect your ROI.
Kryll adds a ProMode for advanced traders. This feature unlocks a bunch of technical analysis tools. Experienced traders will gain a lot from this feature as it allows them to fine-tune their bots’ performance better when used in tandem with the backtesting feature.
Kryll allows swapping cryptocurrency directly using the ” Swap” feature. Swap is helpful because it removes the need to log into various exchanges to conduct your trades. Instead, you can trade directly from the Kryll interface. This feature also adds a layer of safety to your trading because it enables you to leverage Kryll cold storage features when using the exchanges.
KRL is the native token for the Kryll trading bot ecosystem. Traders can get reduced fees and save time when using KRL. In addition, KRL trading pairs offer better rates than other options available on the platform.
How to Get Kryll
The first step is to register your account. The process takes about ten minutes and requires you to provide an email to receive an approval link. Once you’re registered, you can begin programming your bot. The marketplace will provide you with access to top trading strategies to follow. After you have chosen the trader who fits your criteria, you should also download the mobile Dapp. The Dapp makes it easy to monitor your trading bots’ activities on the go from any Smartphone or tablet. It’s free to download and installs in under five minutes.
Kryll has a unique fee structure. For example, running a Live Trading strategy costs a user 0.033% of their current wallet value invested in this strategy per day. Notably, these fees are charged in KRL. Consequently, this approach adds more value to the platform’s native token.
Kryll – An Easy-to-Use Trading Bot with Advanced Features
Kryll has a combination of features that makes it a smart choice for new and experienced traders alike. The follow-trade feature provides a profitable learning experience for both followers and leaders. When you combine these options with the simple drag’n drop interface, it’s easy to see why Kryll is one of the most popular trading bots available today. You can expect to see more traders adopt this automated protocol as its benefits and streamlined approach provide a balanced trading experience.