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 trading 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 trading tools 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.