Kryll – a trading tool for beginner and professional investors
Trading in the crypto market without a strategy is challenging, considering the market is highly volatile and runs around the clock.
Cryptocurrencies are famous for being volatile, with prices fluctuating dramatically in seconds. Traders and investors must check the crypto markets on an hourly – or perhaps minute – basis to make the most out of their trade or investment.
Besides, the market operates 24-hr, which makes it nearly impossible for anyone to keep an eye on the price movements. Tracking the crypto space is challenging, although trading bots are of great help to investors that enable them to react quickly enough to changes in price to achieve the optimal trades.
Trading Bots and Their TradeOffs
Trading bots are automated tools that conduct trades and execute transactions on behalf of a user based on a predefined trading strategy. For example, a trading bot might be designed to buy BTC after reaching a certain price level. In simpler terms, a trading bot enables trading as per the data and trends – rather than on emotional impulse. Eventually, this often minimizes the risk and grows the profits while limiting the losses.
Bots can help execute orders, although they are not a substitute for an investment strategy. There are reasons for it – first, most bots are simply not designed well. Second, successful utilization of a bot requires a deep understanding of the crypto market and a well-structured investment plan. Third, and most importantly, investing experiences are not enough – programming skills are equally essential to building a bot that can function as required. Not everyone knows how to code, and investors who do, are often inept in coding.
Enter Kryll – Create Trading Bots Without Any Coding Expertise
Kryll encounters these tradeoffs by offering a solution that allows anyone to create trading strategies – with or without programming abilities. It is an ideal solution for crypto traders who wish to use advanced trading strategies and the combined intelligence of Kryll’s community to get the best returns on their investment. Kryll incorporates three tools that make it a complete trading platform in the market –
1) Marketplace: Kryll’s marketplace consists of more than 250 trading strategies, with a daily volume of 13283431 (as of writing). Kryll’s intelligent traders and community members devise these strategies, which anyone can rent using the native KRL token of Kryll. Moreover, traders who feel comfortable with an investment plan that works can apply to become a publisher on Kryll’s marketplace. Once approved, they can then rent their strategy in exchange for KRL tokens, thereby creating a source for passive income.
2) Smart Trading: Probably, one of the most powerful features of Kryll is the smart trading tool. It allows users to execute existing trading strategies easily by placing the crypto pairs they wish to exchange along with the amount they’re willing to invest. The tool allows for easy setup of stop-loss/take-profit in just a few clicks. Users can also share signals with their followers and get commissions on each call.
3) Drag ‘n Drop Editor: This tool offers users a “What You See Is What You Trade” interface, utilizing which a user can create investment strategies without any programming knowledge. Drag the functionalities and features you’d like to include in a plan, and drop them on Kryll’s editor. Choose from a wide range of options, including price triggers, pattern analysis, candlestick color, technical indicators like MACD, Bollinger, and ICHIMOKU, and much more. After preparing a strategy, traders can test them on Kryll’s marketplace free of cost.
Additional Benefits of Kryll
Cloud Computing – Kryll operates on a cloud round the clock. Therefore, users don’t have to worry about keeping an eye on the crypto market constantly to make the most of their investment.
Multiple Exchanges – The platform has integrated with multiple centralized exchanges (CEX), allowing users to keep their portfolios on online servers to trade more frequently. The list of CEXs includes Binance, Liquid, Bittrex, Kucoin, Kraken, Hitbtc, and FTX.
No Knowledge Required – Not every programmer is an investor, and not every investor is a programmer. Kryll is the solution for everyone looking to enter the space, whether they have essential investing or programming knowledge to use a trading strategy. Besides, beginners can rely on the community for learning purposes.
Trading in the crypto market without a strategy is challenging, considering the market is highly volatile and runs around the clock. Kryll presents an easy way to keep track of the market while making some decent profit. However, like all trading strategies, the margin depends on the traders and trading pairs. Therefore, invest in what you understand and try to avoid what you don’t. Furthermore, do your own research before putting money into the crypto space.