If you find yourself bedazzled, yet fascinated by the world of cryptocurrency trading, and are looking to invest some time and effort in it, but confused about where to start, look no further. If you have spent all your time trading manually on the crypto sphere and are looking for better options, stay on.
Trading bots are designed to automate the crypto trading industry. These bots allow you to stay connected to the volatile crypto market, and make profits and minimize losses even when you cannot be logged in and checking the crypto marketplace.
Trading bots have taken the industry by a storm, with options being a dime a dozen. Into this mix, we have Zignaly.
What is Zignaly?
Zignaly is a cryptocurrency trading platform, where users can make trades of Bitcoins and other currencies, either manually, or using a bot, as both modes are made available to the user. Most users prefer to opt for automatic trading, using signals and strategies.
If one opts to go for signals, traders will utilize signals to trade. This ensures trades go on 24×7, even when the user is asleep. In addition to this, they can also choose their own set of rules and strategies to make their position clear and make trades.
Zignaly also helps users to fully configure their full trading strategies, with different methods, like Stop-Loss, Take-Profit and Trailing Stop. The desired strategy as a whole can be implemented, with zero limits, using Zignaly.
Features of Zignaly
1. 30 Day Free Trial
Zignaly gives users the opportunity to familiarize themselves with the product, by trying it for a whole 30 days, to test if the product is suitable to their needs, and can actually be used to make a profit.
2. Crypto Signals
In addition to your strategies and insights, it is considered wise to listen to professionals providing the necessary support. This means that the management of buying and selling signals can be done with the help of external integrated signals providers like Mining Hamster Signals, or Crypto Quality signals.
3. TradingView Bot
Use your own signals and send them from TradingView, using indicators, or recommendations.
Being an online service, Zignaly has a cloud presence, which means it is always updated, requires no installs or servers on your side.
5. Supports a Wide Array of Cryptocurrencies
Zignaly supports all pairs of coins from signal providers enabled by you.
6. Trailing Stop Loss
While most exchanges lack this, it is one of the most used strategies in the crypto trading sphere, wherein it follows the price until market conditions reverse.
Zignaly trades directly on the exchange side, making your trades and resources safe and secure.
Advantages of Zignaly
- Pure logic-based decisions, which are not clouded by human judgment and emotions is what Zignaly offers, with all decisions taken based on an algorithm formulated for maximum profit.
- trading: The cryptocurrency market is volatile and dynamic. A split second can be the difference between profit and loss. Zignaly enables you to make trades even when you are not glued to the charts of the market, by setting a predefined rule set for the bot.
Not only does this help you make unexpected wins at unexpected times, but it can also avoid major losses, as the bot can react to a sudden drop, instead of waiting around for the trader to make a decision.
- Lots of signals: The bot determines selling and buying based on signals that the trader has allowed, which means an informed decision after logical thinking, and analysis from multiple sources. This in itself is a huge task for a human trader.
- Visualize your strategy: Zignaly’s trading terminal allows you to see the strategy you have in mind pan out, and see the results.
- Simplicity: Zignaly has a significantly less steep learning curve, making it easy for users to adapt, and since its launch, has carried out over 43 million trades so far. It has been guaranteed to take only 10 minutes to set up and start, making it one of the easiest in the business.
Disadvantages of Zignaly
- Relatively new: As it has just recently entered the market, information is hard to come by, and the bot has not been able to manage to carve out a niche for itself amidst the competition.
- Risky: While most trading bots offer newcomers a chance to try out their strategies by backtesting and paper testing, Zignaly moves right into business. This is a huge risk for users who are new and want to learn the ropes before taking the leap. In this respect, Zignaly has no solution.
- Low online community support: Since it is still catching on, there is not a significant online community to guide new users, and this presence is found to be lacking.
- Beta Version: The current version of Zignaly is a Beta version, which does not make it reliable for those who require testimonials from users who are deemed trustworthy.
Can We Really Make Money with Zignaly?
While Zignaly is relatively new, it is possible to make money, due to the help one gets from signals. This is especially true for experienced traders, who can set a tried and tested strategy to make trades. It is, however, a huge risk for total beginners, as more money may have to be spent on the plans than the money one wins.
Zignaly offers great plans at reasonable pricing, a huge plus when compared to its competitors. The 30 days free trial makes for quite a treat, with users being able to spend a month of time looking through the platform, and deciding for themselves.
the beta plan is a $15.99 per month, with no limits, zero trading fees, advanced options to maximize your profits, and direct support from the founders, in case you want to request for a feature. This is a limited time price though, seeing as the platform is still in its initial stages, and once the project moves into the final stages, the price is bound to increase. This would, therefore, be the right time to buy the plan, if you intend to go forward with it.
Zignaly Review: A Beginner Friendly Bot?
While there are many options for those looking to get into the cryptocurrency trading sphere, trading bots make the process easier to maintain and also helps you in your quest to maximize your profits and minimize your losses. It helps to ensure maximum returns and can make an extraordinary portfolio for you.
However, it is very important that you make the right choice while choosing these bots, as the wrong one could be a deal breaker, and watching your resources hit rock bottom is not something you wish to see.
Zignaly offers a great price, and a cloud-based solution, along with great support. However, this option is not for those who are beginners. While it offers great opportunities and a lot of guidance on how to use the platform, it does very little to ease new users into the world of cryptocurrency itself.
Although the platform itself is a great tool for a wonderful price, there is little to no online support from a community, as the membership is limited and still expanding.
In addition, there is also the issue that the Zignaly platform is still under beta stages of development, and we have no idea how the actual version will turn out. This originally started at $9 per month, and prices have been increasing steadily.
In the end, it is up to the user to make full use of the free trial and decide whether or not this platform is suited to their needs.
The fact, however, remains that trading in cryptocurrency is a whole new world, and bots are the future to it.