After half a decade of being cast in the shadows, the cryptocurrency industry is advancing at a significant pace.
In the last two years alone, it has come forward with investment opportunities that have given traditional markets a run for their money. And this growth is garnering the attention of old and new investors alike.
This includes professional daytraders who have been trading conventional assets for a while and those who have no previous experience but still want to delve into the new markets.
For both of these market segments, trading bots seem like a blessing from heaven itself.
As automated programs that perform trades even in the absence of the trader, these automated solutions could prove to be quite helpful in time, cost and risk management. Due to the advantages that they bring to the table, more and more trading bots making their debut every other day. Today we shall review the features of Kryll bot, which is one such tool.
Launched in 2018, Kryll is a cryptocurrency platform that performs automated trading for its users.
The service focuses on making the trading process easier for users, whether they are professional daytraders or fresh traders wanting to benefit from digital currencies.
For this, Kryll bot uses a “drag and drop” feature for applying preset and customized strategies to any trader’s account. Once the strategies are setup and approved by the trader, the bot executes the buying and selling of cryptocurrency automatically.
During its trade execution, the bot makes use of market trends, indicators, and triggers. It also utilizes TradingView advanced orders through the program’s integration. It then makes the most accurate trades according to the strategy that it has been set to follow.
This way, traders could benefit from different automated trading strategies regardless of their personal level of experience with cryptocurrency. They also don’t have to be stuck to their computer screens all day long, since the trading bot keeps making trades on their behalf 24/7.
Apart from dragging and dropping strategy elements on their own, traders on Kryll can also follow more experienced daytraders to replicate their strategies. This social aspect allows each user to buy custom strategies, and also offer their own strategies to be sold in order to monetize their experience.
And before applying these strategies, traders could backtest them in a live simulation environment. This lets strategies prove their mettle before they are sent out to do the work in the real world with real money. This serves as a cost and time-saving feature for all levels of traders.
What sets Kryll apart from other crypto trading bots is its fee mechanism. Instead of using a monthly subscription, the platform charges its traders on the basis of their usage.
The platform also uses its own blockchain token that goes by the name of KRL. Those who hold a certain amount of KRL could get benefits on trading fees, which provides an incentive to those who want to use the platform regularly.
Time in Business
Kryll was launched through an initial coin offering (ICO) in 2018. It was released for the public in January 2019. This makes it quite a new platform, especially when compared with other, more established trading bots.
Since its public release, the platform has started gaining traction amongst the crypto community due to the benefits that it offers to its users.
Given that most traders in the cryptocurrency sector are solely focused on utilizing trading as a mode of income for the very first time, Kryll’s block-like strategy building structure makes it quite a helpful solution for them.
While the fee structure is a bit complicated to understand for novice users, it is not impossible to comprehend. Anyone could get acclimated with it by spending a few minutes to read through the introduction of the mechanism. And when they do, the affordable costs instantly make Kryll bot stand apart from the crowd.
In addition to these qualities, Kryll’s backtesting and social connectivity aspects add to its value proposition. When all of these features are put together, the service brings a strong offering to the table that has helped it grow in such a little time.
Over the past year, Kryll has gradually yet surely obtained a certain level of reverence amongst its users. Apart from professional critics who sing praises for the platform, the trading bot has also earned positive reviews from users.
With that being said, Kryll is still lesser known than its more popular competitors. Once again, this is mostly due to its fee mechanism and the involvement of its own utility token.
Despite being new in the sector, Kryll supports a number of crypto exchanges.
At the time of writing, the list includes:
- Coinbase Pro (GDAX)
The platform supports all cryptocurrencies that are listed on each exchange. This way, traders don’t have to worry about being restricted on the use of certain digital assets.
As mentioned above, the pricing structure put forth by Kryll is what makes the platform so interesting yet so convoluted at the same time.
Instead of following a monthly subscription model, Kryll charges its traders on each use.
There are no fees for creating strategies or backtesting preset strategies that are free on the platform. But a fee applies when it comes to executing those strategies and actually using them to buying and selling cryptocurrency.
Kryll requires all traders to use its KRL token. This ERC-20 token is utilized to fuel the platform’s strategies. If a trader does not hold KRL, their strategies could stop the moment they run out of it.
This is a step that stops most users from using Kryll. It’s because KRL is only available on a few niche exchanges that are not as well-known. But in order to use Kryll’s services, users have to buy KRL one way or another from these exchanges.
The exchanges that trade KRL include Liquid, IDEX, MERCATOX, and Yobit.
Once a trader has purchased KRL, they can use it to fund their strategies. The price for each strategy funding depends upon the amount of tokens that a user holds in their account.
The fee structure is a bit complicated to understand. It’s important to pay attention to this aspect so that you don’t get baffled by certain charges in the future.
As a basic outline, Kryll charges 0.0333 percent per day for the amount that is invested in the strategy. Traders can get discounts on this fee if they hold a certain amount of KRL.
For instance, if a trader holds $500 without a KRL holding package, they would be charged $0.166 per day. There would be no discounts involved.
But if they hold 50,000 KRL, they would get a 50 percent discount on the total fees. This way, they would only be charged $0.083 per day.
These examples are cited directly from Kryll, and they are applicable on all trading amounts according to the amount of KRL held by a user.
At the time of writing, Kryll offers the following packages that each depend on the amount of KRL that you hold. The following features change with each package.
- Trading slots
- Fee discounts
- Referral bonus
- Backtest speeds
This package comes with 10 trading slots and a daily livetest cost of $0.06. It comes with no fee discount but boasts of a 20 percent referral bonus. It has regular backtest speeds.
This package offers 20 trading slots and a daily livetest fee of $0.05. It comes with a 15 percent fee discount and has a 25 percent referral bonus. It has regular backtest speeds.
This tier has 30 trading slots. It offers a daily livetest cost of $0.04. It boasts a fee discount of 35 percent and has referral bonus of 30 percent. It has boosted backtest speeds.
This package comes with 40 trading slots. It also carries a daily livetest price of $0.03. It has a 50 percent fee discount with a 35 percent referral bonus. It has boosted backtest speeds.
This particular tier comes with 50 trading slots. It also carries a daily livetest price of $0.02. With a fee discount of 75 percent and referral bonus of 40 percent, it defines itself as a value deal for many traders. It also has priority backtest speeds.
As the most advanced tier offer by the platform, this package comes with 60 trading slots and a daily livetest fee of $0.01. It also has a whopping fee discount of 95 percent. The referral bonus on this package is 45 percent. It also has priority backtest speeds.
Ease of Use
Kryll has a very easy to use interface that is also pleasing to the eyes. This makes the platform quite simple to operate for new and experienced traders alike.
At the same time, the process of having to buy KRL for fee structure is a bit complex for new traders and might even be termed as a hassle by some.
Apart from that, the overall platform is very simple to use. The extensive help section also assists users if they run into any issues.
Kryll trading bot has several traditional settings available for order types, which include but are not limited to stop-loss, take-profit, and moving average (MA).
All of these order types can be used through strategies, which all utilize a drag and drop feature for easy combinations.
Different blocks can be used for several order types, which provides trader the option to create very advanced strategies.
The integration of TradingView allows for further technical analysis indicators, which improve the platform’s functionalities by a large margin.
Kryll is available as a web application, which means that traders don’t have to install anything on their computer.
Since the website is hosted on a secure server, it also allows for additional security. It also recommends traders not to check the withdraw option on exchange APIs, which adds another layer of safety.
But the platform lacks additional security measures such as two-factor authentication (2FA). Given that it is now a standard on trading bots, the lack of 2FA pushes Kryll behind its competitors.
Kryll’s customer service is based upon a ticketing system.
The platform has a detailed knowledge base. But if someone cannot find the answer to a question, then they could contact the customer support team by submitting a request.
This ticketing system is also applicable in terms of specific support issues.
Similar to other trading bots, Kryll does not define the percentage of profitability against its operations. This is a standard approach to automated trading solutions, which saves them from liability.
If you are looking for a new crypto bot, it would be a good approach to test Kryll through its free strategy creator and backtesting features. From there, you could decide if the platform seems good enough to be given a paid trial.
All in all, Kryll remains a helpful trading bot with easy to use features. But a complicated price structure and lack of a free trial for full services might make it a second choice to many traders.
Since 2009, Bitcoin and other cryptocurrencies enjoyed a phenomenal growth in terms of public interest and valuation. Holding investors, professional traders and hobbyists all bene ted in their own ways from the amazing opportunities granted by this brave new world. Nevertheless the trading game requires time, technical knowledge, analytical skills, discipline and pro ciency using professional tools in order to achieve true success. Crypto traders without all of this missed opportunities or lost a chunk of their assets in the last few years.
Now that the Kryll.io platform enters the game, this is changing.
Kryll.io is the ultimate platform for cryptocurrency traders who are looking to use the most advanced trading tools and strategies, as well as the combined intelligence of the community in order to achieve the best returns in cryptocurrency markets.
The platform provides intuitive ways to create your own trading strategies and set them to execute automatically. Through a What You See Is What You Trade interface you can design trading strategies making use of the industry’s most powerful tools and safely test them with backtesting and sandboxing.
Once your tools prove their worth you can set them to live-trade on your behalf, taking the right positions at the right time, as if you’re following the markets 24/7.
On Kryll.io you can also rent-out your very own winning strategies that’ll help fellow traders reach the success you did. You will be rewarded with passive income for doing so.
The core Kryll team is composed of veteran developers and Internet professionals who’ve all been trading cryptocurrencies as hobbyists for years. With their background and close circle of advisors ranging from economists, business developers, arti cial intelligence and semantics analysis experts, they’ve decided to build the right platform for crypto traders. They provide fellow traders with the tools, community and environment they know everyone is longing for.
Kryll is an automated cryptographic platform. Kryll.io offers the first intuitive and visual tool for creating a crypto-trader strategy.
The task of this platform is to create a professional trading tool that will be available to everyone. Platform with an emphasis on the prostate in control.
- The first block is the market trends, this is a technical analysis that predicts price changes in the future, based on price analysis in the past.
- The second block is trading, that is, how to buy, sell and distribute funds.
- The third block is signals, that is, receive trading recommendations from experienced traders (professionals)
- The fourth block is the operators, they provide the relationship between the signals and the news background. For example, if an asset moves up they inform it in social networks, thereby driving even more money into this asset.
- The fifth block is a notification, intended to notify the trader or speculator of the status of the strategy.
After building a strategy, you should definitely test it, but what if you do not have money for tests? This is not a problem, thanks to the kryll platform, you can test your strategy completely for free, the advantage of this platform on others is that you can both test your trading strategy based on the past and test it in real time (without risking anything).
The kryll platform gives you the opportunity and access to simple, and visually understandable tools to build your own strategies easily and simply without any special knowledge:
- Skips functional blocks through its system to create simple and complex trading strategies
- Allows you to test your strategies in real time
- The platform works in 24/7 mode, and all in automated mode, you do not have to sit all the time behind the monitor
- You can receive and share strategies within the platforms.
- You can manage all processes through applications in your phone, as well as have the ability to receive push notifications about your strategy
- It is possible to combine top-level crypto currency exchanges via the API, which allows you to trade on any of the exchanges in one platform, as well as arbitration. The first set of supported exchanges includes the following platforms: Bittrex, Poloniex, Kucoin, Coinbase / Gdax, Cryptopia, YoBit.net, Binance, HitBTC, Bitstamp, Liqui.
Why do I think that this is very important at the moment?
- The market of crypto-currency is still quite young, the volumes of trades are growing every day
- 50 million active users (traders, non-investors) have trading accounts on the 10 largest crypto currency exchanges.
- The number of users in the crypto community is growing in geometric form.
- In the mass media, more attention is paid to the blockade and crypto-currencies.
The Kryll platform tokens have the following “KRL” symbol. The issue of tokens is 220 million, their cost is at the stage of ICO 0.2 $. The minimum payment for buying tokens at the moment is 100 USD. Non-distributed tokens will be released, but will be destroyed. The sale of tokens will last from February 7 to March 20, 2018, or until the tokens are fully sold. The maximum amount of fees (Hard cap) is 29 million USD. Purchase of tokens can be made by such crypto-currencies as: bitcoin, Dash, Ethereum and other equally popular crypto-currencies.
- 65% will be sold during ICO;
- 13% is allocated to the team;
- 10 percent to attract new users;
- 5% on the press and all kinds of costs;
- 2% on the bounty.
Although the cryptocurrency markets have been in a state of stagnation since the turn of 2019, daily trading volumes are as strong as ever. For example, at the time of writing in April 2019, 24-hour trading volumes are averaging the $31 billion mark, with Bitcoin amounting to around 30% of this figure. These volumes illustrate that although we are still in a prolonged bear market, significant trading opportunities are still highly present.
One such organization that are looking to bring these trading opportunities to everyday consumers is that of Kryll. The project has launched an online platform that allows investors of all sizes to create automated trading strategies in a simple way.
In order to ascertain how notable the technology is, we decided to explore the project’s potentialities ourselves. Within our review we will discuss what Kryll actually is, how the platform works, and essentially, whether it fits in with your goals as a cryptocurrency day trader.
What is Kryll?
In its most basic form, Kryll is an online platform that allows users to design and create their own automated cryptocurrency trading strategies. For those unaware, automated trading refers to trading activities that are executed by a pre-programmed script. As such, there is no requirement to choose trades yourself, nor do you need to actually execute buys and sells, as this is all performed in an autonomous manner.
If an investor is able to obtain such an automated trading protocol, it carries a number of key benefits. First and foremost, as automated trading does not require any micro-management, traders can simply sit back and let their strategies do their thing.
Moreover, automated trading strategies do not suffer from fatigue, which essentially opens up the doors for 24/7 trading. Furthermore, and perhaps most importantly, if an investor is able to design a strategy that performs well on a consistent basis, they have the opportunity to make ongoing profits in a passive manner.
Although we will explore this in more detail further down, Kryll allows both beginners and more advanced traders to create custom trading strategies via a user-friendly drag and drop style platform. These blocks consist of key logistical characteristics such as market signals, as well as variables that include market volume and technical analysis indicators.
The easiest way to get your head around the model is to think about a Microsoft ‘if/when’ sum. Effectively, the ‘if’ is the market indicator such as trading volume, and the ‘when’ could be volumes that exceed $10 billion in a 24-hour period, for example.
The notable thing about the Kryll project is that users can integrate their automated strategies into major exchanges such as Binance and Bittrex, with more integrations in the pipeline. Even better, you can test-out your automated strategies in demo mode, subsequently allowing you to make tweaks before going live.
In terms of the the team themselves, Kryll is led by CEO Luca Benevolo and CTO Philippe Longere. Supporting the key management team are a plethora of expects from within the fields of software development, trading, law, machine learning and economic sciences.
So now that we’ve explored what Kryll is aiming to do, in the next part of our guide we are going to take a closer look at how the block design system works.
The Kryll Dashboard
Creating a Strategy: How Do Blocks Work?
Although the Kryll platform has been designed to appeal to traders of all experience levels, the block system can appear somewhat confusing at first glance: this is what you use to create your custom trading strategies and is actually very well designed once you get the hang of it.
As such, we’ll discuss how this works in more detail so you have a better understanding of how the strategy building process works.
Creating a New Strategy in Kryll
To kick things off, the first block that you are required to create is your wallet. This represents the wallet portfolio for the specific strategy you are looking to create. This particular block is mandatory.
Price up and Price down
The purpose of the price up block is to trigger a movement when the market price of a specific cryptocurrency increases or decreases. Known as a ‘conditional’ block, you essentially tell your automated strategy to perform a certain action when a predefined condition is met. Here are some examples of what you can do.
- Market evolution: You can place an automated trade when a specific price action occurs on the exchange you have integrated your strategy with. For example, you can instruct your strategy to purchase a cryptocurrency if the price drops by 10%, and then goes up by 5%.
- Last order price: You can instruct your strategy to trigger when the price goes up or down by a certain percentage, in relation to your last trade. For example, if you purchased a cryptocurrency at $100, and the block specifies a movement when the price increases by 5%, then your strategy will trigger when the asset hits $105.
- Average buy order: This particular block is useful is you are looking to engage in a controlled profit strategy. Essentially, the strategy is triggered based on the average purchase price of previous orders of the same cryptocurrency. For example, if you purchase a token at $80, $110 and $170, you could execute a new trade when the the price hits $120.
The purpose of the volume blockchain is to trigger a new automated trade when certain conditions related to trading volumes have been met.
- Starting from last block: This is useful if you want to automatically execute a trade when volume goes up or down in comparison to the previous block. For example, if your previous block had a market volume of $1 million, and you pre-set the trigger at a 25% increase, then the trade would execute when volumes reach $1.25 million.
- Rolling: This allows you to execute a trade based on specific volume conditions, such as ‘volume vs time’. In other words, you could for example pre-set the block so that a trade is placed if volume decreases by 50% in a 24-hour period.
Other conditional blocks also exist, however the above examples should give you a better understanding as to how you lay the foundations for an automated strategy.
Next, you’ll then need to expand your strategy by increasing additional blocks. This will include an instruction linked to whether you want the trigger to buy or sell, as well as how much in terms of quantities. Moreover, you can also add in an ‘Or’ or ‘And’ block.
One again, this is very similar to the if/when function in Microsoft Excel, insofar that you can create additional layers to your trading strategy. In fact, the more layers you have within your strategy, the more advanced its trading capabilities will be.
Furthermore, for those with more advanced knowledge of trading, you’ll be able to insert blocks linked to technical trading indicators. This could include key trends such as the Moving Average Convergence Divergence (MACD) or Bollinger indicators.
So now that we’ve covered the basics of blocks, in the next part of our Kryll review we are going to look at the marketplace feature.
If you like the sound of automated cryptocurrency trading, but you’re not quite ready to take the plunge yourself, it might be worth exploring the Kryll Marketplace. In a nutshell, the marketplace contains ready-to-use trading strategies designed and built by other Kryll users.
Each strategy is completely transparent, meaning that results can be verified independently, and those using the strategy can leave public feedback and ratings. Moreover, you can even integrate your chosen strategy in to your demo platform, meaning you can test out the results for yourself.
While some automated strategies are free, others come at a cost. However, and as we’ll cover in more detail in the section, when you utilize a chosen strategy (whether it’s yours or rented from another user), you’ll need to pay fees to the Kryll platform.
Kryll Token & Fees
The Kryll platform operates an online eco-system that aims to benefit all who use it. In order to fuel this ecosystem, the Kryll platform utilizes its own native ERC-20 token – which it calls the KRL token.
The KRL token has many functions within the Kryll platform. First and foremost, if you decide to use a Kryll automated strategy in live mode with one of the platform’s integrated exchanges, then you’ll pay a variable fee.
At the time of writing this amount to 0.0333% per day, based on the total amount of funds you have invested in your respective strategy.
For example, let’s say that you are using one of your strategies on Binance, which it trades the cryptocurrency equivalent of $1,000 in a 24-hour period. As such, you would pay a total of $1,000 x 0.0333%, amounting to $0.30.
These fees are highly reasonable, and would have very little effect on any profits or losses you subsequently make from the strategy.
We should also note that there are different fees depending on the amount of KRL tokens you currently have held in your account. If you hold no KRL tokens, then you’ll be accustomed to a daily fee of $0.06 for using the livetest feature, and you’ll not get any discount from your daily trading fees.
At the upper end of the pricing plan, a holding balance of 200,000 KRL tokens or more will get you a trading fee discount of 95%, plus reduced daily livetest costs of $0.01. Moreover, this plan gives you a total of 60 trading slots, as opposed to just 10 that you get with the most basic plan.
Furthermore, you might need to need to pay fees in the form of KRL tokens if you decide to rent a trading strategy that has been published by another user. This amounts to provider fees, and varies on a strategy-by-strategy basis. Some providers are also free, which incidentally does include some of the best performing strategies on the platform.
Which Exchanges can I use my Kryll Strategies on?
If you’ve found a strategy that you like the look of, or you’re ready to put your own trading strategy in to the wild, then there are a number of leading cryptocurrency exchanges that you can integrate it with.
At time time of writing, this includes:
Although this covers some of the largest exchange platforms in terms of trading volumes, the team at Kryll are looking to make more and more exchanges compatible.
In order to integrate your respective exchange account with the Kryll platform, you’ll need to go and obtain your unique API key. This effectively gives Kryll the authority to perform automated trades on your behalf.
Although your strategy will be operating in an autonomous nature, the Kryll platform does not have any access to your exchange login credentials, subsequently ensuring that your data remains secure.
The API process will differ depending on the exchange you are using, however in most cases you’ll need to get this from within your account portal. Once you do have it, you then simply enter it in to your Kryll account.
Kryll Review – The Verdict?
In summary, the team at Kryll have created a very unique product that essentially opens the cryptocurrency day trading doors to those that have very little experience of creating strategies, or those that simply do not have the time to day trade themselves.
Whether your Kryll platform strategies have any success is ultimately dependent on the specific strategy itself. If you are able to build a notable strategy, or you instead rent one from the Kryll Marketplace, then you have the potential to be sat in prime position on a 24-hour basis.
As such, if the underlying strategy finds a suitable trading opportunity, it can execute its strategy without you needing to be involved.
Finally, our review also found that the fee structure offered by Kryll is highly reasonable. The only caveat is that you will need to ensure that you have KRL tokens within your account at all times, to ensure that your strategies are able to trade on a 24/7 basis.
- Well-Designed Interface
- Good Team
- Easy to Use Block System
- Sold Marketplace
- Lower Fees / Rewards for KRL Holders
- Not as Many Exchanges as Competitors
- Newer Platform
The Cryptocurrency market is subject to constant volatilities. It is an arduous task to capitalize on the market trends without being online 24/7. Considering human limitations, this is virtually impossible. Automated software, commonly known as trading bots, help overcome this issue by performing transactions on your behalf depending upon the strategy that you create. One of these trading bots is Kryll.io
Kryll.IO has managed to garner a reputation from the initial days of its inception. But what makes it special? Read our Kryll.io review to understand the various features of the trading bot. The article aims to answer the various questions surrounding Kryll.IO like is it possible to really make money using Kryll.IO, what are its advantages and disadvantages, the pricing structure, and so on.
What is Kryll.IO?
Kryll.IO is an automated trading software which is aimed at the general public for performing cryptocurrency transactions. It consists of professional which can be used to create cryptocurrency trading managers using simple ‘drag and drop.’
Founded by a team comprising Luce Benevolo, Philipe Longere, Paul Collorafi, and others, it is designed to make cryptocurrency accessible to all. Most people lack the desired trading tools to enter into the world of professional cryptocurrency trading or face the problem of high prices while purchasing pro tools for performing cryptocurrency transaction.
Kryll.IO tries to provide a solution to all of these problems. Let us move to the next section of Kryll.io review: Features
Kryll.io Review: Features of Kryll.IO
1. Easy Strategies
The entire concept is designed around WYSIWYT(What-You-See-Is-What-You-Trade) using a flow-based technology which makes the strategies simpler and helps you maximize your gains. You can make strategies ranging from basic to advanced and watch it work on your behalf. Since it is an intuitive platform, it ensures that you have the entire control over your strategies.
2. Drag ‘N’ Drop Editor
The software features a drag ‘n’ drop editor which can be used to pick functional blocks of strategy and create a custom strategy depending upon your trading abilities. Combining such multiple blocks can help you come with a powerful strategy which extracts the most out of the market.
3. Comprehensive Backtesting
You can test your strategies virtually multiple times before you use it for performing actual trades. This is a great tool for beginners as they can understand the efficiency of their strategies without incurring losses.
4. Opportunity to Earn
Kryll.IO allows users to generate an income in the form of Kryll.IO tokens(KRL). If you feel that you have created a strategy which can be effective for people, you can share it amongst the community of users. In simple words, if people use your strategy, you get paid in KRL.
Can we Really Make Money Using Kryll.IO?
Kryll.IO makes trading a simplified task for all kinds of users. However, the general skepticism arrives from the volatilities in the crypto market. It is difficult to create an all-encompassing strategy which can bear the brunt of every change in the market.
If one has the desired understanding of how the market works, analyses the various volatilities, and can predict the outcome of the market in the near future, one can create a strategy which opens up the opportunity for unlimited income. However, if you’re a beginner, it is always advisable to understand the market first before creating a strategy.
If you create the right strategy and update it constantly to accommodate the changes in the market, you can obviously make money using Kryll.IO.
Advantages of Kryll.IO
Kryll.IO will be supported on major exchange platforms like Bittrex, Poloniex, GDAX, YoBit.net., Binance, HitBTC, BitStamp, and others. With further developments, we can expect it to available on other platforms as well.
Kryll.IO has a strong community of users which can help you come up with the right strategy. If you are unsure regarding your investment or whether your strategy will work in the long run or not. You can always rely on the community of users and learn from the people who have created the right strategy. If you do not want to create a strategy of your own, you can always pay and use the winning strategies.
Since the platform is simple and easy-to-use, it is a great tool for beginners looking to foray into the world of cryptocurrency.
Disadvantages of Kryll.IO
The major disadvantages of using Kryll.IO stem from the cryptocurrency market. Since the market is highly volatile, coming up with an ineffective strategy can potentially lead you to huge losses. There is no single strategy which can help you make gains all the time or which remains unaffected by the market conditions.
Any automated trading bot simply performs transactions on your behalf. It can not create a strategy of its own, so allowing your bot to make unlimited transactions using the wrong strategy is a recipe for disaster.
Kryll.IO is still in a nascent stage and is growing. This is the reason why people can come up with loopholes or flaws only after using it for a long time. With time, there will be various changes to its platform before it becomes a foolproof platform. Hence, there are varied speculations about what the changes would be and how will it help improve the bot.
The entire service of Kryll.IO is free to create a strategy and test it. However, if you use the strategies that you create, you will have to pay a fee. Also, if you’re using a strategy created by others, you will be required to pay.
One can invest in Kryll.IO using their ICO and buy KRL tokens as 65% of them will be on sale. If the company grows, you can witness a rise in the token pricing which can later be sold to make profits.
To sum up our Kryll.io review, we feel that it is a promising platform which can be a great tool for beginners looking to venture into the world of cryptocurrency trading. Since the company is growing as well it opens up the avenue for making a profit by investing in their ICO. Our Kryll bot review ends with the verdict that you can surely give it a shot if you wish to use automated trading software for cryptocurrency trading.