Trality Bot Review
In case you weren’t aware, Bitcoin started in 2009. Since that time, it has exponentially grown and become the crypto coin that started the fully blown digital currency industry you see today.
Digital assets bring together people from all walks of life and from all over the world.
Notwithstanding, cryptocurrency trading brings together traders, crypto exchanges, and financiers who desire to invest in Bitcoin and other cryptocurrencies.
Keep in mind that Bitcoin is still on top regardless of fluctuations in the market. It is worth the most and it is expected to keep its status.
One of the ways that these traders, pros and novices, come together is when they use automated services for their cryptocurrency trading to make it more streamlined and simple.
The industry of cryptocurrency bots, automation, has made a splash of its own in this niche.
Trality is a cryptocurrency trading bot that we are reviewing today so that you can find out if it is suitable for your trading needs.
How Long Has Trality Been In Business?
2018 is when the firm developed Trality to be used by traders. The team behind this trading bot tested it and when it was ready to release, they did just that.
This platform has a relatively active social media presence, which is where users can keep up with the market, their progress in the market, and what is happening with the platform itself.
Instead of introducing several individual products within the service, this platform creates a marketplace full of various options, like custom bots and an array of options and features.
What Kind of Reputation Does Trality Have?
One of the first questions experienced traders ask themselves before they invest time and money into a cryptocurrency trading bot is, “What kind of reputation does it have?”
This is a great place to start when you’re seeking to find the best automated crypto trading service.
From what we can find, Trality seems to have a viable reputation among the cryptocurrency traders. They seem to speak well of it and the reviews are somewhat positive.
This is an indicator that for whatever reasons, it’s trustworthy for managing digital funds.
This Austrian trading bot will hopefully hang on to the reputation it has built and continue to improve.
What Exchanges are Supported On Trality?
As you might expect, this platform supports some of the most popular crypto exchanges on the market. Trality supports Kraken, Coinbase Pro, Binance, and Bitpanda.
According to some chatter, this platform will seek more exchanges to support in time.
How Much Does Trality Cost?
You can get started with a free plan and test it out until you feel it’s something you want to use or not. If you decide that this platform is ideal for your cryptocurrency trading, your next step is to upgrade to a paid plan.
The paid plans come in three tiers that use Chess pieces as plan names.
- Pawn: This plan offers a low-level trading volume, on live bo, one virtual bot, unlimited backtests, and some log retention. This plan is the free one.
- Knight: For 95 euros per year or 9.99 euros per month, this plan takes you to the next level with two live bots, one month of log retention, two virtual bots, and all the backtesting you want.
- Rook: At 383 euros annually or 39.99 euros monthly, this plan gives you a higher trading volume over the Knight plan with five live bots, six months of log retention, five virtual bots, and infinite backtesting.
- Queen: This plan offers you unlimited trading volume, ten trading bots, ten virtual bots, and unlimited backtesting and log retention. This plan is 59.99 euros monthly or 575 euros annually.
Keep in mind that paying by the month will cost more per year than paying the annual fees. You will save around 19% paying annually.
Ease of Use: If you love to code, trade, and create trading strategies, this platform is easy to use. You will need to have a good knowledge of Python to create your custom bots in the most streal=lined way.
That said, you may also build a bot in this system without Python via its Trality Rule Builder.
It seems that Trality is seeking to bring more traders to the platform who want to create strategies and custom bots. This is made obvious by all the tools it provides for this ideal.
They say that they want to keep this as simple as possible so that virtually anyone can use it to create customized bots and strategies whether you are skilled with Python or not. However, there are ample tools for using Python to code.
This service is still in its beta mode, but is growing and evolving all the time. If you are not familiar with coding, this may not be the trading bot for you.
There will be a learning curve even for the Trality Rule Builder tool.
Settings: The code editor is Trality’s primary setting. This platform boasts of its dynamic Python tool for web-based bot creation. If you are skilled in Python, you can create complex or simple bots.
Next is the rule builder setting where you can simply use the drag-and-drop method of coding to build a simple trading bot.
No real coding skills are necessary, though you still need to be familiar with using these kinds of tools.
Finally, this automated trading system offers paper trading and backtesting so you aren’t going into this market blind.
This setting helps you better learn to trade efficiently and effectively. The backtesting setting allows you to look back at past information, but that feature depends on the plan you choose.
Security: The safety and security of your funds are top priority. You feel that way, so Trality wants to satisfy that need. This system has no direct contact with your digital assets because it’s your custom bots that you create that execute exchanges and trades for you.
Customer Support: We don’t know much about how good the customer support is, though you don’t build a reputation like Trality has without being there for clients.
Access to customer service and support is mostly through Twitter.
Profitability: Bitcoin and other digital assets are volatile in nature, which means their values fluctuate up and down all the time. You might see your currency values got up a lot and then go down a lot.
Many traders use a strategy of holding certain amounts in their funds while playing with others.
Since profitability relies mostly on your knowledge of the markets and exchanges, this platform cannot and does not take any responsibility for your level of profit.
No cryptocurrency trading system can guarantee profitability.
That said, it’s recommended that you learn about this market before trying to trade or code bots. That is how you give yourself a better chance of profitability.
Whether you want to try Trality or not is up to you. It seems safe enough. We will not cast doubt on its capabilities, though we prefer to recommend Bitsgap or Quadency for your cryptocurrency trading needs.
The key to winning in crypto trading is learning, growing, and applying the best possible strategies as you go. It’s a journey, not a speed race.
It’s not unusual for experienced traders to do well because they have been honing the craft for years.
Whatever you do, be sure to know the reputation, credibility, features, and tools offered by a cryptocurrency trading bot before you select one. Happy crypto trading!