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.