Crypto markets always have a high degree of volatility, and these changes in market prices can only be exploited if you’re fully alert and on your toes 24×7. Well, not anymore. Trading bots can automatically perform these transactions on your behalf once you create a strategy, thereby helping you extract huge benefits.
These bots are engineered with algorithms that analyze strategies on the basis of market patterns. With a round the clock curation, the bot takes the correct decisions on the investments you allow. For all types of traders, this bot has proved to be efficient, smart and reliable.
Such automated trading bots like Zignaly exploit the market’s volatility by increasing the frequency of trading, making it more prone to profits than losses. Here’s a detailed Zignaly review to help you know more:
What is Zignaly?
Zignaly was founded in Madrid, Spain, in 2018 by two founders David Coronado and Bartolome Bordallo. This company was made to offer a cloud-based service that allows day traders to connect to different crypto exchanges through API and place trading orders automatically.
Zignaly is an automated crypto trading bot which takes its data from external crypto signal providers and allows cryptocurrency investors to trade automatically. It has been launched recently and is currently at its beta phase of testing.
Zignaly connects to your TradingView account to obtain trading indicators. Alternately, you could also use their own trading terminal. It currently supports over 21 signal providers, including Mining Hamster Signals and Crypto Quality Signals.
Zignaly Review 2020: What’s in Store?
Although Zignaly is still in its beta testing phase, it has an attractive set of features that make it different from the rest:
1) Cloud-Based Interface
The cloud-based interface makes your entire trading experience hassle-free. Because of this, you don’t need to worry about software updates and problems you face on the system.
You can also access the Zignaly platform from anywhere in the world as long as you have a mobile, internet, or a desktop. Any changes that you make are automatically updated on the cloud and reflected throughout.
2) Trailing Stop Loss
This popular trading strategy has proved useful for traders by helping them minimize their losses and maximize profits. Although it isn’t available in most crypto exchanges, you can easily incorporate trailing stop loss with Zignaly.
When the price of a cryptocurrency goes up, it follows and buys it till a point where it reaches a price reversal, and begins selling your coins as soon as the prices start falling. This strategy ensures that you don’t face losses on the downside and enjoy the upside of the cryptomarket.
3) Crypto Signals
Zignaly features third-party signalers. These signalers are actually people who study the market volatility and fluctuation and predict the next profit and loss of the users investment. Signals can be utilized to make new strategies and pre-determine the situation of any stock and market.
You can easily access many Buy/Sell signals from a number of legitimate third-party providers. You can also experiment with various different signals to check which ones work best for you and yields better results.
4) Freedom to trade
Despite being a new company, there are certain things Zignaly does right. One of the main features of Zignaly is that it has no limitations on trading any currency on the platform with every pair that’s available.
Not many bots out there provide such a facility, but considering the fact that this feature was first introduced in Zignaly’s beta, this bot is really something to invest in.
5) TradeView bot
Zignaly also offers its users with a TradeView bot. This bot allows you to send your own signals with the help of the indicators available. So you can provide strategies and insights to your investments.
With the above features, Zignaly is also known for its safety. This assurance has come from users themselves. Reviews claimed that Zignaly has a user-friendly interface and a separate storage for investments. This storage can never be touched by any third-party or hacker.
Advantages of using Zignaly
Zignaly, though at its beta version phase, has focused on many features and tools to catch the eye of online investors. Many of these advantages actually line up with the similar advantages of bigger companies.
So, Zignaly has the following advantages:
- Purely algorithmic – Zignaly works and functions on strong algorithms. Noting down market patterns and suggesting you the right strategies are two of Zignaly’s major advantages. No stage of your investing process is curated by any human judgement, which makes ZIgnaly a promising bot.
- Various reliable signals – The bot makes decisions on the basis of the signals any user allows in his/her strategies. Various signals provided by Zignaly are considered by the algorithm, and after decent analysis from multiple sources, the bot takes the correct decision.
- Ongoing trade – This bot is designed in such a way that it continuously trades on your behalf. The user does not have to constantly keep checking on market charts. The software takes care of all unexpected losses and profits. It will react immediately when a sudden drop of your stock occurs, thereby preventing a major loss (all while you’re engaged in some other activity.).
- Strategy formation – Zignaly lets you create your own custom strategies and allows you to trade accordingly. This feature is mainly for experienced traders but always comes handy while experimenting.
- User-friendly – The Zignaly bot has a simple and understandable interface. New users can easily comprehend the demographics of this software, which guarantees a smooth learning curve.
Disadvantages of Zignaly
- New to the market – Zignaly seemed to have arrived late to the party (perhaps too late). This company has entered the market quite recently and is facing problems with its competitors. Entering the market was tough enough for Zignaly, and now getting users to review and rate the bot is a bit of a stretch. Thus, not many users are going for Zignaly
- Beta Version – As mentioned above, Zignaly is relatively new to the market, and the current software version is just a beta. This makes it a bit less reliable for people who require testimonials from trustworthy users.
- Risky – Many companies offer a safe strategy for their new users. But Zignaly is known to be a bit risky as it dives head first with its trades. This can be a red flag for rookies, but can equally lead to higher profits unexpectedly.
- Zignaly, being a new commor in the market, is certainly devoid of sufficient advantages, but mainly lacks an online community to verify from.
Can We Really Make Money with Zignaly?
Investing is often considered to be a gamble of sorts, especially when there’s an extremely volatile commodity involved (cryptocurrency). The hard truth is that this gamble is confusing. With almost all the rates of coins changing in seconds, it is very tough to manually strategize and earn.
Zignaly was made for one purpose – to make cryptocurrency trade more stable and less tedious for its users. The indicators, signals, and various other tools help the trader taste the sweet fruit of profit.
This bot reported many happy and satisfied users (experienced as well as beginner traders), knowing very well that this is just a beta software. So yes, you can earn money through Zignaly provided you plan and strategize smartly.
Zignaly is actually a pretty affordable software. As compared to its competition, the services provided by this company are much cheaper and reasonable, even for a beta version. The pricing is total value for money and gives enough space for the user to offset the subscription fee.
Just at $12 a month, Zignaly promises:
- Unlimited exchanges
- Unlimited coin pairing
- Unlimited positions
- And Priority support.
The company also states that it will “freeze” this beta price for users who purchase it right away, and will offer the same features (with timely upgrades) for a long period.
Zignaly Review: Worth the Hype?
Zignaly offers a really good trading platform for users. With a user-friendly interface and great security measures, it is one of the most intriguing bots in the market.
This bot will take care of all transactions you make and will log your digital assets on its platform. Since it has a cloud-based storage system, the level of security enhances inherently. With heavy players like Mining Hamster Signals and Crypto Quality signals at its disposal, this bot will guarantee a worthwhile experience.
Once the original version is released, many more features and tools will get unveiled. Thus, if you are looking to enter the cryptocurrency trade, then Zingaly is one of the best bots to have by your side.
This is a trading bot that is still in its development stages. However, you can still use the beta version of the app for free and make great profits from using the bot. Even though it is a new entrant to the trading bots industry, it has managed to win over the hearts of many crypto enthusiasts.
The main reason for its widespread fame is the transparency provided by this trading bot. Unlike other trading bots whose developers don’t share many details on how to contact them, Zignaly prides on the developer’s openness to the community.
Users of the bot can easily communicate with the developers of the bot in case of any problem that they face or even provide them with suggestions to add more features to the bot. Either way, being in touch with the developers provides a sense of trust.
There is also a paid version of this bot. However, the free BETA version also works well. The bot implements the trading view API for chart analysis. This, in turn, uses the Binance platforms trading charts. Thus, Zignaly is compatible with the Binance exchange. The developers are planning to add other popular exchanges such as Bittrex, Poloniex, etc in the near future.
On top of all this, the bot also allows users to implement their own customized trading strategies. Thus, giving flexibility to the more experienced traders as well.
The cryptocurrency market witnessed a spike due to the sudden surge in prices in 2017. This caused a large number of people to invest in cryptomarkets. But a lack of market awareness resulted in huge losses for these people.
As the crypto markets are subject to a high degree of volatility, it is impossible to fully exploit the change in market prices without being on your toes 24×7. This is where trading bots are useful. Once you create a strategy for your trading bot, it will perform transactions on your behalf.
Automated trading bots have been helping people extract huge benefits from the market volatility by increasing the frequency of trading. One such trading bot is Zignaly. Let us explore the various facets of Zignaly and understand the various ways in which it can help traders.
Zignaly: How Does it Work?
Zignaly is an automated crypto trading bot that has been launched recently and is currently in the beta phase of its testing. It takes its data from external signal providers, which allows users to make automatic trades. It works in conjunction with signal providers like TradingView which can be connected and used to obtain trading indicators. Apart from TradingView, you can also use a trading terminal developed in-house for setting your trading strategy.
If you want to begin trading with Zignaly, you need to set up an account by providing basic details like name, email ID and password. After registering your account, you will be prompted to choose an exchange of your choice via API connectivity. Currently, only Binance exchange is supported by the platform. However, the team behind Zignaly has announced that it will soon add other exchanges like Bittrex as well.
After selecting your exchange, you have to select your preferences. These preferences include the choice of your base currency, the Buy Price Deviation, Stop Loss, Trailing stop, minimum volume, max concurrent positions and so on which are essential to make live trading an enriching experience for you.
Currently, there are 21 signal providers which can be used as trading indicators on Zignaly and new providers will be added in the coming days. Some of these signals are free while others are paid.
Features of Zignaly
1) Cloud-Based Interface
Zignaly features an interface which is entirely cloud-based. This makes your entire experience hassle-free. If you face any problems, you can easily update the software from anywhere at any time of the day. It adds a lot to the convenience factor, as you can access your account from any platform, be it mobile or desktop. Any changes that you make get updated on the cloud and is reflected throughout.
Zignaly is gaining prominence primarily due to seamless interactions with platforms that provide crypto signals. This feature is quite handy for people who cannot keep a track of the market due to other commitments, yet have a penchant for investment. The platforms that provide signals analyze the market conditions and let you know that the conditions are favorable for maximizing your profits.
3) Trailing Stop Loss
Every trader is aware of how useful this trading strategy is. However, most crypto exchanges do not offer this feature. Thanks to the developers, trailing stop loss can be easily used on Zignaly.
It is basically a trading strategy which helps you maximize your profits and minimize your losses. When the price of a currency is going, it buys follows it up to the point there is a price reversal. As soon as the prices start falling after reversal, it begins selling your altcoins. This ensures that you enjoy the upside without facing losses on the downside of the cryptomarket.
4) No Limit on Trades
As an investor, if you are using a crypto exchange on Zignaly, you can trade any currency pair that is available on the exchange platform.
Every trading signal on Zignaly takes place through TradingView, which is one of the features that sets it apart from its competitors. TradingView is a trading bot that allows you to send your own trading signals using automatic indicators. You can also use the recommendations provided by the Cryptocurrency Signal Finder to obtain trading indicators.
Pricing Structure of Zignaly
Right now, being in the beta mode of its testing, it is charging a minimal price of $9 per month. However, it remains to be seen whether the price will remain the same or increase when new features are added. Some people have predicted that the price may rise once the advanced features become functional, but this may be contradictory to the claims of the team behind Zignaly.
The company claims that it will ‘freeze’ the prices at $9 a month for people who buy it at the initial stages of its adoption. This may be a good deal, if you are looking for a crypto bot and join early as various new features are in the pipeline.
Some of the features available for members are support for unlimited exchanges, unlimited number of currency pairs, the option to take unlimited positions and priority support. There are a few advanced features like Trailing Stop Loss, Autoclose, DCA ReBuy and so on which are exclusively accessible to the premium members.
Zignaly Review: The Verdict
Zignaly offers a great trading environment for its users. The platform is quite user-friendly and the interface design imparts a sleek look to it. It has also good security features as it does not provide any right of withdrawal to Zignaly.
All the transactions that you make and your digital assets get reflected on the exchange platform. The security is further enhanced by the fact that it is cloud-based. The signals work quite right as you have strong signal providers like Mining Hamster Signals, Crypto Quality Signals and so on.
The only downside to using Zignaly is that it is currently in the beta phase of its testing which limits its functionality and leaves it vulnerable to potential glitches. However, with many more features planned, the platform will only see further improvements as the growth of users on the platform has seen an average rise of 70% per month. In December 2018 alone, it had more than $2 million in trading volume. If you’re looking for a trading bot at affordable prices, Zignaly may be the one for you.
Zignaly is an automated cryptocurrency trading platform that is currently fairly unknown and small but has big plans for its future. You can tell from the name of the bot that its primary focus is on crypto signals (Signaly – Zignaly).
In this Zignaly review, we will go over the major selling points of this bitcoin bot, how does it work, how safe is it and whether it can compete with its top-shelf competitors.
What is Zignaly?
Zignaly is a cryptocurrency bot, an automated, cloud-based trading platform that integrates 5 cryptocurrency exchanges and lets traders set parameters and rules for automatic buy and sell orders.
What exchanges are supported on Zignaly?
Zignaly vows to add more exchanges to its platform but currently, it is falling behind its competition in this regard as it only offers support for 5 exchanges: Binance, BitMex, Kucoin, Bittrex and Poloniex. For context, Cryptohopper works with 12, 3Commas with 23 and Margin.de with whopping 25 exchanges.
Major features of Zignaly crypto bot
Top features that Zignaly team likes to highlight include:
- Crypto Signals – you can take advantage of external signal providers to manage the Buy / Sell orders. You will need to do your own research before trusting some of these signals providers with your trading decisions. What is interesting is that Zignaly allows you to add your own provider or even to become provider yourself.
- Unlimited coins – You don’t need to select coin pairs in Zignaly as they accept all the pairs from your enabled signal providers.
- TradingView bot – This is one of the major competitive advantages of Zignaly over its rivals: you can send your own signals from TradingView by using indicators or their “Cryptocurrency Signal Finder” recommendations.
- Trailing stop loss – extremely popular option that all regular exchanges started adding to their dashboards as traders love the ability to squeeze as much profit from their trades without risking losing the already made gains.
- Take profit – a self-explanatory option where you input the price levels where you would like the bot to close your positions and secure the profits
- Buy order expiration – you can set a time-conditioned buy order which needs to be filled until your set date, otherwise it will get canceled
Crypto signals on Zignaly
Similarly to Cryptohopper and 3Commas that have full-fledged marketplaces where people can buy signals or copy strategies from other traders, Zignaly added support for this feature as well.
There are three types of signals that providers can offer:
- buy signals
- sell signals
- DCA/rebuy signals
There are currently 42 signals providers that cost up to $20 per month while couple of them are free of charge.
Each of the signals providers has its own unique landing page where you can read more about their service and what types of signals they offer. There is also a full trading history where you can see their success rate which is a helpful tool while researching whose signals to follow.
How to properly use signals on Zignaly
1. Split targets
Earn passive income with Quadency trading bot. Connect Binance account and use Quadency bot for 6 months completely free. Hurry up, this deal is not around for long!
You can use a trailing stop feature and try to squeeze out the maximum out of your signal but it is much safer to take profit while you can. With split targets, you can do tiered selling as you sell off a part of your position when a target is reached. You can combine trailing stop and take profit.
You could sell
- 30% at 1% another
- 30% at 3%
- and the remaining 40% at 10%
If you choose this option Zignaly places orders for these targets immediately on the exchange as limit orders.
Dollar cost average is an investing technique where you aim to spread your risk by buying a certain coin multiple times at different price points. You make small orders for your initial and this protects you in case the position keeps on dropping, as your losses will be smaller and you will break even quicker once the price starts to raise.
3. Minimum Volume
Use minimum volume to filter out low volume coins that can jump a lot in price due to their low liquidity. These coins are susceptible to pumps and dumps and if you get stuck in them, it is hard to close your position as there is no volume/interest in them.
4. Black List
It would be good idea to add some of those coins we mentioned above to a black list so you are sure to avoid them no matter what.
Be sure to understand that signals are far from being safe and they can fail, and badly at that. Past performance is not a guarantee of future success, it is just an indicator that signal provider was good at making trades in the past – he has no monopoly on being right. Keep that in mind before getting too carried away and blindly trusting these providers.
How can you receive signals
You can receive them either through the Zignaly apps or via email. You can send them via email as well.
CopyTraders on Zignaly
This is another feature, similar to the Crypto Signals. Actually, many of the providers overlap on both sectors of Zignaly platform. With CopyTraders, you essentially hand over the reigns to the provider and instruct Zignaly to follow his moves.
Become a crypto signals provider yourself
Zignaly offers you the option to join their marketplace of crypto signal providers by creating your own public provider profile.
If you decide to go for a paid service, Zignaly handles payments on your behalf which is a great option for people who are good at trading to earn additional money while trading for themselves as well.
In contrast to the leading cryptocurrency bots, Zignaly is still only charging one pricing model that costs $15.99. This is due to them still officially being in a beta stage of development.
Before you decide for a paid subscription, you can make use of their generous 30 days free subscription where you can get to know the platform without shelling out any money.
Is Zignaly beginner-friendly?
You can say so if you view it in the narrow context of its design and interface.
But, the platform still gives off an impression of an unfinished, construction site. For this reason, beginners would be better off on one of the highly polished and extensively documented platforms like Cryptohopper or Margin.de.
Is Zignaly safe to use?
Zignaly connects with your exchange via a set of API keys that you create on the exchange exlusively for Zignaly. To be fully functional, Zignaly requires no withdrawal abilities nor does it route its activity through their server – everything is done directly on the exchange.
This means that Zignaly adds no additional risk to your funds as they are as secure as the exchange you are holding them on.
Customer support on Zignaly
Zignaly has a fairly big documentation but it does need some polishing and rewording to become more useful and clear.
They offer support via official email or social media channels, most notably their active Discord channel where you can join different sub-groups and exchange opinions, strategies or information with the team or other traders.
Zignaly review – final verdict
Is Zignaly legit and safe to use?
Yes, it is a legit business with a transparent team that even offers an insight into their roadmap where you can add your own requests to be included into the platform. The development does seem to go a bit slower than some would hope for but the platform does have a unique selling angle with its heavy focus on signals and copytrading.
However, they will need to ramp up their developing efforts as others are not waiting, just the contrary – all major competitors are fine tuning and expanding their platforms with new features almost constantly.
Zignaly is good because of its low price and long free trial period (doesn’t require credit card info either). This makes it a good choice for amateurs who want to get to acquainted with the whole automated trading. More demanding users will need to seek their happiness elsewhere.
The 2017 cryptocurrency bull run attracted a lot of people towards the cryptocurrency market. While the ones who hopped on the bandwagon early on were reaping the profits, the ones who got on this trend towards the end of the bull run experienced major losses.
Bitcoin alone had lost around 75% of its value from its all-time high. People who simply started investing without any knowledge about the market ended up suffering this heavy loss.
This is where crypto trading bots come in very handy. Unlike the ill-informed trades that you normally do, the trading bots make trades only after considering valid signals.
One such bot that helps you automate your trades is the Zignaly bot. In this Zignaly review, we will have a closer look at this entire platform and understand the various features that it has to offer its users.
What is Zignaly?
When you trade on one of the popular exchanges such as Binance and BitMex have you come across a situation where there was a countertrade made right after you place a trade. This was most likely done by a trading bot capable of reading the market conditions better than you.
In such a scenario, where you go head to head against a trading bot, the odds of you coming on top are very slim. Zignaly is a new trading bot that will certainly change this entire ecosystem.
As the cryptocurrency market became popular, so did the trading bots. However, most of these trading bots are similar to each other but are only named different. This is where Zignaly comes in.
Zignaly can be considered as the next-gen trading bot with a ton of useful features that are very beneficial for both a novice and an experienced trader. With features such as copy trading, terminal trading on top of the advanced trading bot, Zignaly is one of the most useful trading bots that you will find in the market.
Let us now have a look at the unique features that Zignaly offers.
Features of Zignaly:
Some of the unique features that Zignaly offers its users are:
1- Copy-trading: Copy trading is an amazing feature to have due to several reasons. If you are new to the crypto world and want to learn cryptocurrency trading while being able to earn some passive income at the same time, then this feature will do marvels.
In copy trading, you will be able to find a well-established trader and set the Zignaly bot to copy every single trade that is placed by the experienced trader. As these trades have been made by an experienced trader, the odds of losing money on them are extremely low.
Additionally, it also helps you understand the cryptocurrency market behavior and helps you grow to become an experienced trader yourself.
2- Cloud-based: There are plenty of crypto trading bots out there that you can use. However, most of them come in the form of softwares that you would need to run on your local computer. The problem with this is that your computer would need to be turned on 24/7 to avoid losing any particular trading opportunity.
To remove this bottleneck, Zignaly trading bot has been hosted on the cloud and is available 24/7. With a web-based interface, you will be able to configure the bot and change the strategies from any web browser out there.
3- Trading terminal: This is a feature that most of the expert traders would appreciate. Unlike the other bots where you would not know the current conditions without actually checking the market conditions for yourself, you can make use of the trading terminal and keep track of the current market conditions.
With the trading terminal, you will be able to analyze the various trading signals that you receive, compare them with other trading signals and decide as to which order to place.
4- Unlimited coin support: This is one feature that you will not find in most of the popular bots out there. In existing reputed trading bots, there is always a cap with the number of different coins that you can trade using.
This is not the case with Zignaly. After you provide the API key of your account on a cryptocurrency exchange, the bot is capable of trading any cryptocurrency pair that is supported by that particular exchange.
5- Trailing stop losses: This is one feature that is extremely helpful and yet is missing from most of the trading bots as well as the cryptocurrency exchanges. Zignaly trading bot keeps a very close eye on the market condition of any particular coin and sells when the market is on the upside.
Sometimes, there might be a scenario where you might sell at the wrong moment and the market condition flips. With the trailing stop loss feature, this scenario will be avoided. Not only will you be able to enjoy the benefits of a climbing market but you will also be able to reduce the losses in a bear market.
Zignaly is a trading bot that is filled with features to the brim. Let us now move on to the advantage-section of this Zignaly review article.
1- Reduce loss: Zignaly takes trading signals from several different providers. This ensures that the signals on which the bot acts are verified. This, in turn, ensures that the risks of a loss are extremely low.
This, when combined with the trailing stop loss feature, helps to not only reduce loss but also increase the profits greatly.
2- Maintenance-free: You needn’t worry about the software set-up or its maintenance anymore. As the entire system is on the cloud, you can be assured that all software upgrades are going to happen without your intervention. Additionally, with the bot hosted on the cloud, all your trades will be automated even while you sleep.
3- Paper trading: Even though Zignaly trading bot provides amazing features that increase your profits, you can also make use of the paper trading feature where you will be able to make trades using virtual money. This helps you understand the market better while not having to endure any loss during the entire process.
It’s very hard to find any flaws in an awesome trading bot such as Zignaly. However, like any other platform, this too has a few disadvantages:
1- Price: While the trading bot has been launched at an affordable $15.99 per month, don’t expect it to last long. Once the product picks up some popularity, this amazing subscription price is going to go up.
2- Returns during bear markets: Just like most other trading bots out there, Zignaly will not be able to perform well during the bear markets. In a high volatile bearish market, the odds of actually losing your money are higher than making some profits.
Can we make money with Zignaly?
Unlike most of the other popular trading bots, Zignaly considers trading signals from multiple platforms. Instead of relying on just one signal, Zignaly makes its decision based on signals from multiple sources. This helps to get rid of some of the less trustworthy trading signals.
With the bot capable of automating your trades round the clock, you can be sure that none of the trading opportunities are missed. With the bot capable of supporting all the trading pairs, the number of amazing trading opportunities that come by regularly is off the roof.
These features, when combined with features such as copy trading and trailing stop losses, can ensure that you can earn some passive income by using the trading bot.
Let us now move on to the pricing section of this Zignaly review.
Zignaly is a new entrant to the crypto trading bots market. To bring in more adopters early on, the bot has a very attractive subscription plan of just $15.99 per month. This might seem a bit more expensive than the entry-level plans of most of the other trading bots out there.
However, in the basic plan provided by other trading bots, you will need to compromise when it comes to the exchanges that are supported as well as the number of trading pairs that the bot supports. This is not the case for Zignaly. You can not only trade on unlimited exchange very soon but also trade all cryptocurrency trading pairs.
So, when you compare the price of the bot to the features offered, you are getting the bot at a bargain. This amazing price point is not going to last forever and will change as soon as Zignaly has a considerable user base backing the trading bot.
Zignaly Review – The Conclusion
Till now we have all seen trading bots just automating all your trades in the background. Zignaly has been developed to revolutionize the entire trading bot industry. With a great subscription price and a plethora of features, it has the potential to become the market leader even though it arrived late in the scene.
Cryptocurrency is a type of online or digital currency that is used as a mode of exchange. Recent surges in the prices of cryptocurrency have caused a large number of people to invest in different crypto markets. People have become aware of the different trading strategies and methods.
Automated trading platforms play an important part in the world of cryptocurrency. They make strategies, and buy and sell on your behalf. Zignaly is one such automated trading bot. This is a Zignaly review that will help you to understand the different features of the Zignaly trading platform.
What is Zignaly?
Zignaly is a Spain-based crypto trading platform that was founded in 2018. It is a trading terminal, where you can do trades of bitcoins and other cryptocurrencies, either manually or by automated trading bots. The automated trading bots work on the basis of the strategy that is set by you.
Trading markets remain open all the time. Therefore, it is not possible for traders to keep track of all that is happening in the markets. These bots keep you updated about all the marketing trends and buy and sell for you. The signals and indicators help these bots to make the decisions.
Zignaly is still in its beta phase version. Many functions are still limited as it is in its initial stage. Here, you can use various methods to configure your own trading strategy like stop-loss, take-profit and trailing stop.
This Zignaly review discusses all the features, pros, cons, pricing, etc. of this trading platform.
Features of Zignaly
Zignaly is a newly created trading platform. Many features are still limited. More features will be added soon. However, it comprises several useful and impressive features. In this Zignaly review, I have discussed in detail all the features present in the platform.
1. Cloud-based interface
Zignaly has a cloud-based interface, that means the software is always updated and you do not have to update it regularly. The changes made by you are automatically updated onto the cloud. Another thing is that you can get access to the platform from any device, such as a computer or a mobile phone.
2. Crypto signals
You will find various buy and sell signals that are provided by different external integrated signal providers such as Mining Hamster Signals or Crypto Quality Signals. These signals will help you to analyze the market and to make strategies as per the conditions of the market. These crypto signals are very useful for those who do not get enough time to devote to trading.
3. Trailing stop loss
This is one of the most popular trading strategies but most of the trading platforms lack this feature. This strategy will help you to make more profits and minimize your losses. This strategy will help you to buy the altcoins when the price of a currency is rising and it will follow the price of the currency after buying the altcoins. Now, when the market reverses and the price starts to fall, it will automatically sell your altcoins so that you do not incur any loss.
4. No limit on trades
There is no limit on trades in the Zignaly platform. It supports all pairs of coins. That means you can trade any currency pair which is available on the crypto exchanges.
5. TradingView Bot
This TradingView Bot feature makes this platform stand out from the other trading platforms. Using this feature, you can send your own trading signals. You can either use the automatic indicators or the recommendations given by the Cryptocurrency Signal Finder.
Zignaly is a safe and secure trading platform where you can directly trade on the exchange sides and store your altcoins directly on the exchange platform. There is no need for withdrawal rights.
Advantages of Zignaly
The various advantages of Zignaly are:
- The decisions and strategies provided by the trading bot are purely logic-based and are given on the basis of algorithms and charts so the maximum profit can be earned. No decisions are taken on the basis of human judgment and emotions.
- The trading market is open 24*7. It is not possible for you to be available all the time. Therefore, the trading bots are present so that you remain updated throughout the day and night. They will make sales and purchases on your behalf according to the strategy or plan set by you.
- The bot does the selling and buying on behalf of the trader by using various indicators and signals chosen by the trader. This requires a lot of research and knowledge and is time-consuming. However, the bot does all these tasks automatically within a fraction of seconds. Thus, it helps save time and resources.
- It allows you to visualize your strategy on the screen. Suggestions are also provided to change your strategy to maximize the profit.
- It is a simple, safe and secure, cloud-based trading platform.
Disadvantages of Zignaly
Some of the disadvantages of Zignaly are:
- As it is a new trading platform, there is not enough information about the reliability and safety of this platform. This platform has not yet become popular among the traders.
- Zignaly uses a beta version. Therefore, the functions of the bots are limited in various ways.
- This is not a beginner-friendly trading platform.
- Since many people still do not know about this platform, there is a lack of an online community to guide the new traders.
Can we really make money with Zignaly?
Though this platform is new and very less information is available about its reliability, it is still possible to make money through Zignaly. The crypto signals will help you to earn profits by investing correctly.
This trading platform is more suitable for experienced traders. They can use the tried and tested strategies to make money. However, it is a bit risky for beginners. Since you have to pay on a monthly basis, there is a chance of spending more money on the plans as compared to your earnings.
Zignaly offers many features at a reasonable price. It is still in beta version, therefore, the prices are low as compared to the other platforms. With the addition of more features, the price may increase. Moreover, it offers a free trial for 30 days before buying the package.
At present, the plan is $15.99 per month. The plan included no limits on any feature, zero trading fees, advanced options, and direct support from the founders of the platform. It is beneficial to purchase the package now itself, as the price will rise once new features are added.
Zignaly is a newly opened trading platform. It has a simple and user-friendly interface. The security policies are also up to the mark. It has a cloud-based platform that makes this platform one of a kind.
However, the problem is that it is still in its initial stages and there is not much online support. It can be risky for beginners to invest through this platform. Go through this Zignaly review. It will guide you to make a decision about whether you should create an account on Zignaly or not.
The cryptocurrency market has grown at an exponential pace and it now resembles a regular securities trading market in more than one way.
That is one of the many reasons why day trading has become a huge part of the cryptocurrency sector. And when it comes to day trading, it is not a secret that associated entities use bots on a frequent basis.
As automated programs that perform a set of pre-determined functions, trading bots help users in bidding farewell to the pressure of rapid transactions. Built with efficiency and profitability in mind, these solutions actually perform data-driven trades to prevent the daytraders from missing out on market trends even when they are away from their screens.
Keeping this in mind, it is no surprise to see that the automation market has really taken off in the cryptocurrency sector. Thanks to this phenomenon, there are many solutions available at the moment. But only a few are considered as being really beneficial by their users. Zignaly is one such trading bot that we are going to review today.
Time in Business
Simply put, Zignaly is a crypto bot, terminal and signals platform. Launched in early 2018, it has become one of the most popular trading bot providers in the cryptocurrency market.
In just over a year of its launch, the platform has grown by unprecedented margins. Much of that is due to its automated robot service. The bot service focuses on basic and advanced trading mechanisms and works on pre-set strategies to get the most benefits out of market trends.
Zignaly provides its services through the cloud. This ensures that anyone could access their features from anywhere, even if they don’t have their primary computer on hand. With it, the platform also provides users with access to unlimited cryptocurrencies that are available on its supported exchange.
With multiple signals and order types, the robot makes sure that day traders could take a break from their screens while ensuring that the market analysis and resulting trades would turn out to their expectations.
Since this is the core function of an efficient trading bot, this simple yet fruitful approach has made Zignaly a highly recommended name among cryptocurrency users.
Zignaly is one of the most recommended trading bots in the cryptocurrency community. From Reddit to BitcoinTalk, those who have utilized the tool seem to be a fan of it.
This phenomenon isn’t only restricted to individuals who have utilized the platform by themselves. Critics who have reviewed the tool professionally also seem to be of the opinion that Zignaly has what it takes to be the primary service of even the most professional day traders.
Apart from this, Zignaly does something that perhaps no other trading bot does for its customers. It publishes live metrics information for the sake of transparency. In these metrics, the platform ensures that it has provided all the important details such as the monthly revenue as well as its burn and churn rates.
Instead of hiding behind difficult numbers, the details are laid out in easy to understand graphs. Since this level of transparency is not typically common, it gives Zignaly a significant boost in reputation.
All of this has given Zignaly a level of credibility that is hard to come by. It is especially profound for a solution that is based upon difficult algorithms and sky-high expectations by those who are putting their money on the line by using it.
Despite its impressive reviews and the perception by the cryptocurrency community, Zignaly only operates on one exchange, namely Binance.
While it plans to add more exchanges to its roster, those entities are still far from being supported by any of Zignaly’s products. At the time of writing, the platform is in the process of adding exchanges such as Bittrex, Poloniex, and KuCoin. But no timeline has been provided by the exchange on the actual inclusion of these platforms.
This means that those who want to make use of Zignaly’s services could only do so over Binance at the moment. Given that Binance is one of the biggest cryptocurrency exchanges in the world, this does not create any problem for many customers. Most people with the inclination and means to use cryptocurrency could easily turn to Binance, and setup their account before they have it connected with Zingaly’s trading bot services.
At the same time, considering that Binance is to stop serving U.S. cryptocurrency traders soon in favor of a yet-to-be-formed, regulation-compliant exchange service, those in the U.S. would be unable to use Zignaly’s services if the platform does not add support for more exchanges.
This creates quite a dilemma for those who live in the U.S. or hold an American passport since the day is not too far off in the future when they would be unable to use Binance’s International trading services. As a result, they would also be deprived of Zignaly’s offerings. If anything, this creates more pressure to add support for more exchanges as soon as possible.
While the platform now contains multiple products, its chief offering remains its trading bot. And all of those services, including the robot, are provided in a beta plan that costs $15.99/month. Like most other crypto bots, Zignaly does not charge any fees on any transactions itself. But you would still need to pay the exchange’s fees.
The plan comes with a 30-day trial for which no credit card is required. Among access to unlimited cryptocurrencies, pairs, and positions, the package also boasts of priority support. It also promises to include access to all supported exchanges once Zignaly moves forward with adding more exchanges to its roster.
This makes Zignaly’s offering quite simple as compared to other platforms that offer multiple pricing plans. With that, the price point at which it provides access to all services also remains quite impressive. It is especially profound since other trading bot services often start their offering at that cost, only to provide a restriction-laden product to the traders. But Zignaly remains free of that – at least for now.
For the aforementioned price, Zignaly provides its users with access to all of its platform features, including order types, positions and its library of signals. Advanced options such as trailing stop, stop-loss, take-profit, and auto close are also offered within the same price in order to enhance users’ day to day trading operations. Traders could also split their take profit targets and easily check their results per position.
It is prudent to note that while Zignaly provides free access to its library of supporting trade signals, the signals themselves are not free. Any signals that come with a paid license by the developer still need to be bought by the traders, since they come directly from the signal provider and not from Zignaly itself (you may think of this as buying an app from the App Store).
While this creates another layer of costs to the overall price point of the platform, this remains understandable. This is especially clear when you take the time to appreciate the breadth of services that Zignaly is providing under its current price point.
Ease of Use
Zignaly has a clean and crisp user-interface (UI) which remains aesthetically pleasing yet highly functional.
Whether you are a new cryptocurrency user or a seasoned daytrader, the platform remains easy to use and very simple to get acclimated with.
Along with a sidebar that provides multiple options for basic and advanced settings, you can get visual cues through graphs to understand the performance of your selected cryptocurrency markets.
The options to configure different positions, apply signals, and setup strategies are very easy to execute within the UI. This makes Zignaly’s platform quite appealing to those day traders who don’t want to waste a vast amount of time in setting up a tool they could use to their advantage.
As mentioned above, the tool is also setup in the cloud, which cuts out installation times that would otherwise be encountered with other trading bot platforms. This adds another layer of convenience to Zignaly’s services.
Zignaly offers a mix of basic and advanced settings for its trading bots. Apart from setting the investments, the signals and the pairs, traders could also select advanced options in terms of positions and orders.
These options include but are not limited to setting up a TradingView account with Zignaly in order to setup your advanced strategies at once. With that, you could also enjoy options such as DCA-rebuys targets.
Zignaly also provides a very detailed knowledge base for even its most advanced options and settings, so that those who want to make use of those functionalities could benefit from them after learning about them thoroughly.
This mix of easy to apply pre-set signals and strategies along with the ability to configure advanced options makes Zignaly an ideal solution for new and seasoned traders alike.
Being in line with other trading bots and platforms, Zignaly doesn’t have direct access to customers’ funds. Instead, it only executes its operations through the exchange that the daytrader is using.
Since the platform is only supporting Binance now, it connects with the exchange using its API.
Zignaly asks customers not to provide it with withdrawal permissions through the API. As such, it doesn’t have direct access to customers’ funds. This ensures safety and keeps the funds away from the hands of malicious parties.
Zignaly has one of the most comprehensive knowledge base among the trading bots currently available in the cryptocurrency sector. Everything is defined in a searchable database that tells users exactly what they need to know.
But in case a day trader has more questions, they are free to ask them through the platform’s Discord group. Those who have signed up with the tool could also enjoy priority customer support directly from the platform’s founders themselves, which yet again stands Zignaly apart from other providers in the same segment.
So far, Zignaly seems to be doing great in the customer support front, where no major complaints have been recorded against the company on the web.
Zignaly’s profitability ratio isn’t defined on the website explicitly. This is in line with industry standards since it prevents the platform from misleading customers or creating any hopes through false advertising.
The user reviews that are available on websites such as Reddit and BitcoinTalk are nothing but positive. Most of the people who started using Zignaly have given positive reviews to the trading bot and its ability to turn out profits for them.
Through the details shared by the platform, it is evident that the traders who have used the services have come back repeatedly.
At the time of writing the review, Zignaly has posted a total trading volume of over $43 million in the last 30 days. It also created close to 350,000 positions in March 2019. And it reported a collective balance among all users to be over 1,000 Bitcoin as of April 1, 2019.
This level of transparency and the numbers that are revealed by it make Zignaly quite a great option for those who need an explicit promise of credibility – if not profitability.
All in all, Zignaly remains a mightily impressive platform that seems to deliver what it promises.
Zignaly is a trading terminal with cryptocurrency trading bots that lets you trade automatically with help from external crypto signal providers.
Zignaly is incredibly easy to use and can be utilized as a passive income machine. The platform lets you easily connect with a TradingView account, so you can use it with your favorite indicators. Alternatively, you can use the Zignaly trading terminal to create your full strategy at once.
At the time of writing, Zignaly supports 21 different cryptocurrency signal providers, but the list is constantly growing. All of those signal providers are of high quality and have plenty of experience. Most of the signal providers will also share the ideal settings to ensure their signals work properly.
There is currently a mix of free and paid signals from providers such as Crypto Quality Signals and Mining Hamster Signals.
Types of Trades
Zignaly supports both basic and advanced trading actions. Basic features include things like take profit, trailing stop, and stop loss. Advanced options offered include minimum volume filters, price deviations, and DCA (ReBuy Strategy).
The ability to use a trailing stop loss feature is particularly important since most exchanges do not offer this option despite it being among the most used strategies for closing in crypto trading. With a trailing stop loss, you follow the price of the crypto until a market reversal.
To give clients the most out of the platform, Zignaly does not limit the coins that you can trade with the platform. Instead, it always accepts all pairs from the enabled signal provider that you choose. This lets you maximize the benefits of your chosen signal provider.
How Do You Trade With Zignaly?
Zignaly supports your TradingView account and the ability to use those indicators. The platform includes a TradingView Bot that lets you send your own signals right from TradingView with the Cryptocurrency Signal Finder recommendations or indicators.
Or you can use the trading terminal from Zignaly. The trading terminal lets you manually open positions with your entire strategy. You must create a strategy instead of directly setting the take profit, trailing stop, and stop loss all together on the exchange.
With the Zignaly trading terminal, you can set up your full strategy without any limitations. The terminal includes high-end features such as the ability to split your profit targets, check results for each position, trailing stop orders that combine, and concurrent order types that are different yet on the same balance.
Ease of Use
The team behind Zignaly specifically designed it to be easy to use, making that a priority from the time of launch. Those getting used to the platform can begin with some simple configurations within the general settings.
You only have to use as many settings as you want as many of them are optional. To further increase the platform’s ease-of-use, Zignaly includes explanations for every feature on each tool, so you fully understand each feature. Overall, you should be able to start using Zignaly in just 10 minutes or less.
What Else Should You Know About Trading With Zignaly?
All you have to do to use Zignaly is connect it with the signal providers of your choice and let it trade automatically, so you can make money even while you sleep. You can use auto-mode by accepting Sell signals. Or you can set up your own set of rules to close your positions and let it run.
You can also use Zignaly as a bot for TradingView with your own sell and buy signals that you send to Zignaly.
You can accept multi-targets from signals, and there are DCA-based rebuy strategy options. You can opt for sell signals to automate the close, trade with TradingView signals, and use trailing stop losses.
Zignaly is indeed affordable, offering a much cheaper price than most competitors. The current price is just $12 a month, which is less than half of the closest competitors. This offers great value for money and gives you more room to grow a profit with your cryptocurrency trading.
To help you ensure that you like Zignaly before making a commitment, you can take advantage of the free 30-day trial, which does not require a credit card, so you know you will not be charged.
Zignaly is a service that is fully online, and it is cloud-based. Because it runs on the cloud, you get a long list of benefits, including no need to deal with servers yourself, no installation, and the fact that the platform is always updated.
Is Zignaly Safe?
Since Zignaly involves your money, the company takes numerous steps to ensure the security of your funds at all times. Zignaly always trades directly with the exchange side. This means that your coins are always on the exchange, so you do not need to worry about withdrawal rights.
You get extra security from the fact that Zignaly does not store any funds for you, so you do not have to deposit anything. The balances remain with the exchange of your choice, so you would ask them for a withdrawal, and they control your funds.
Zignaly is a cryptocurrency trading bot and a proprietary trading terminal that gives users the ability to easily trade cryptocurrencies using automated strategies. You can use Zignaly with TradingView accounts, take advantage of a growing list of signal providers, and utilize a range of order types.
Since your funds remain on your chosen cryptocurrency exchange, the security concerns associated with using Zignaly are minimal. Even so, the platform has strong security measures in place.