Kryll Review 2023
The cryptocurrency markets are in full swing with no chance of slowing down. The digital currency markets are here to stay. If you started when Bitcoin was made available, you are probably in good shape with your funds.
If you are just getting started, you may have already had a few ups and downs in your crypto trades. There are so many cryptocurrency trading strategies out there, that it may be challenging to grasp them all.
Not only that, but keeping up with this highly volatile financial market is not for the faint of heart. Manually trading requires a lot of research, analysis, and strategic planning that most traders do not have time for when trying to trade.
By the time you complete your own analyses and such, the likelihood of a major shift in the market is high. Therefore, you go back to the drawing board and analyze more. Professional crypto traders use tools to help them minimize risks and maximize profits.
One such tool relates to the use of crypto trading bots like Kryll. The problem is that there are so many cryptocurrency trading bots available, it is hard to choose one that will work for you.
This review of Kryll will help you determine if this is the trading bot for your cryptocurrency trading needs.
Top-rated Crypto Trading Bots
What is Kryll?
As mentioned, Kryll is a cryptocurrency trading bot that offers automated trading for its clients. It mainly focuses on making the process of trading digital assets easier and more efficient. It is suitable for newbies as well as professional daytraders.
The bot is capable of using market trends, triggers, and indicators during the execution of your preferred settings for trading. It makes use of TradingView via integration.
Then it chooses the best and most applicable trades according to your set strategy.
Therefore, regardless of your experience level with crypto trading, you can benefit from these automated strategies. Another benefit is that you do not have to sit at your computer all day watching and waiting as the market fluctuates.
Trading bots run 24/7 making crypto trades for you according to your instructions.
One of its unique factors is the “drag and drop” feature that allows users to apply presets and customized strategies for their trading account.
Once these elements are complete, the Kryll bot automatically executes the buying and selling process of cryptocurrencies.
Besides the beneficial drag and drop options for newbies, Kryll also has plenty to offer experienced crypto traders to customize and utilize their expertise on the platform for trading.
You can even sell your strategies on the platform to add a stream of income for supplementing your trades, or to use however you choose.
Before you apply your customized strategies, you can backtest in a live simulation to see how it pans out. This way, traders can see how their strategies play out without spending funds.
Kryll is unique compared to other crypto trading bots in its fee system. Instead of offering subscription-based plans, you are charged according to your usage of the bot.
It may be useful for you to know that Kryll has its own blockchain token, called KRL. If you are holding KRL, you might be able to enjoy incentives and benefits on your trades.
How Long Has Kryll Been Around?
This cryptocurrency trading bot platform was launched in 2018 via ICO (initial coin offering), and then introduced to the public in January 2019. Since that time, it has become more popular within the cryptocurrency community.
Since most crypto traders are primarily interested in using trading as a source for income for the first time, the bot’s block-style strategy building configuration makes things easier and better for them.
Novice traders may find the fee structure complex to comprehend, it is not impossible to understand. It merely comes with a learning curve and some experience as you acclimate to it.
Taking the time to read the introduction to the tool will be helpful. Once you get it, you will see how affordable this system is compared to its counterparts.
Aside from all this, the social connectivity and backtesting options add more value to its clients. All its features and uniqueness brings solid offerings to the platform that have been key in its growth in popularity,
As far as Kryll’s clients are concerned, they have grown to appreciate this service and all that comes with it. It is still gaining notoriety among the crypto community.
We have seen professional reviews and user reviews that prove to us that this bot has earned its favorable reputation.
Kryll’s Supported Exchanges
Even though this trading bot is new to the industry, it surprisingly supports several cryptocurrency exchanges.
- Coinbase Pro
There is no doubt in my mind that it will not be long until this trading bot is able to add even more exchanges to its supported exchanges list.
As we mentioned before, the pricing structure is one of the unique aspects of Kryll. There is no subscription option since you get charged by usage.
You will not incur fees for strategy creation or backtesting any of the free preset strategies. Fees are applied when executing said strategies to buy and sell.
Kryll does require its traders to use the KRL token. This token is an ERC-20 token used to power the bot’s strategies. If a trader runs out of KRL, the strategies will quit working.
This requirement is one that keeps some traders from using this bot. KRL is only available on a few lesser known niche exchanges. However, if you want to take advantage of Kryll’s bot, you must purchase KRL and maintain enough to execute strategies.
Kryll charges a fee of 0.0333% per day for whatever amount is invested in a strategy. When traders hold a certain amount of KRL, they can get discounts to save on these fees.
You can read more about this on the Kryll website via their own documentation that explains it more clearly and in more detail than we will in a review. There are four packages that rely upon an amount of KRL. These packages include:
- Trading Slots
- Backtest Speeds
- Fee Discounts
- Referral Bonus
Top-rated Crypto Trading Bots
Ease of Use
Kryll’s interface is easy to use and aesthetically pleasing. It is simple for the newbie and professional trader.
Other than having to purchase KRL, how to use it, and the fee structure, this platform is easy to use overall. The comprehensive help section will come in handy.
This crypto trading bot offers several conventional settings for order types, which may include, but is not limited to take-profit, moving average, and stop-loss. These are order types that can be used via drag and drop and strategies.
You will be using different blocks for a variety of order types, so you will be able to create sophisticated strategies if that is what you do.
Since the TradingView program is integrated into this platform, you can utilize it for more technical analysis indicators to widely enhance the functions of the bot.
Kryll is used as a web app, so there is nothing to download and install on a device. The site is hosted on a secure server for another layer of security. The platform recommends that you not check the withdrawal preference on exchange API keys to make your information and funds more secure.
Something that you may not like about this bot is that it has yet to add 2FA (two-factor authorization) to its login. That puts this bot behind its competition.
Kryll uses the ticketing support system for handling customer issues etc. However, the platform has an extensive knowledge base that can help you resolve many issues.
Kryll tends to follow its counterparts by not defining or promising any percentage of profit using its bot. This is, essentially, the gold standard in this industry and most platforms follow it.
If you are seeking a new cryptocurrency bot, Kryll is, overall, a good one to try. You can use its free strategy creator and backtesting and decide if this is the bot made for your cryptocurrency trading goals.
Our Recommended Crypto Trading Bots
We recommend these two bots because they tick the right boxes for our metrics. Ultimately, choosing your cryptocurrency trading bot is up to you.
All-in-all, we believe that Kryll is a solid, reliable, and worthy crypto bot to try. Even with its complex pricing structure, lack of free trial option, and the requirement of purchasing KRL, we feel it would make an excellent second option for most crypto traders.
Whether you decide to use Kryll or not, we suggest that each person do their own research and analyses of the various crypto bots. That is something we cannot recommend enough. It is well worth your time and effort.
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