Cryptocurrency is a great investment. It can bring great profits, but a lack of experience and understanding of its functioning can be a real roadblock for beginners and sometimes even seasoned traders. This is where cryptocurrency trading bots come in.
Cryptocurrency trading bots are basically computer programs that use algorithms to trade cryptocurrency for you. They can be godsends, with their easy-to-use interfaces and smart algorithms designed to serve you best.
This article serves as a Zignaly Review, and hopes to shed light on this software by the end of this review.
Now, if one was to look for a cryptocurrency trade bot online, they would find hundreds of them. Unfortunately, there exist a multitude of scams and fake bots and these make it hard to pick the right one. In this article, we’ll see how one uses this software, its pros and cons, and whether or not it is a legitimate cryptocurrency trade bot.
So, let’s get straight to it.
What is Zignaly?
Before getting into this Zignaly Review, allow me to familiarize you with the platform.
Zignaly is a cryptocurrency trade bot. This means that it is an automated service that makes crypto currency trades for you without requiring much input from the user. It allows users to trade using external crypto signal providers.
Signal providers are services that send you trade alerts for certain cryptocurrencies which they consider a good buy at a certain price level. Those considerations are based on either manual chart analysis by a pro trader, or they are based on the analysis of trading bots.
It is incredibly easy to use and can be used to generate an income without much time being spent on it. It is relatively new on the market and yet seems very promising.
Zignaly currently supports 21 cryptocurrency signal providers and the list is still growing. They support both free and paid providers like Mining Hamster Signals and Crypto Quality Signals.
Zignaly was founded in the year 2018 by David Coronado and Bartolome Bordallo in Madrid, Spain. It offers a cloud-based service that allows traders to connect to different crypto exchanges through API and allows for trading orders to be placed automatically.
As details of its developers are very easily available to the public, it is evident that the company is not a scam. It doesn’t make any absurd rags-to-riches type of claims either, furthering the legitimacy of the company.
Zignaly is a feature rich software that is fairly reliable and has a lot to offer.
Zignaly Review: Features of Zignaly
One cannot do a Zignaly Review without a proper analysis of the features it has. Zignaly is feature-rich and boasts a lot of interesting and helpful features.
Some of the features offered are as follows:
1. Ease of Use
The platform was designed to be easy to use. With some simple configurations within the general settings, anyone can start using the platform as per their needs. Zignaly also provides explanations for every feature on each and every tool. This allows users to fully understand every feature.
2. Cloud Based
This means that users need not install any sort of software to run Zignaly. They can access their account from anywhere. All one needs is internet and a desktop.
3. Access to Crypto Signals
With Zignaly, users have access to many buy/sell signals from a number of reputable signal providers such as Mining Hamster Signals and Crypto Quality Signals. Users can also try different signals to check which ones are best for them.
4. TradingView Bots
This is a feature that allows users to send signals from TradingView by using indicators or based on their recommendations.
5. Trailing Stop Loss
This is a popular strategy and a super useful feature provided by Zignaly. Essentially, it follows the price of the altcoin until the market reverses and only then does it sell. This allows users to make safer trades.
6. Safe Environment
Zignaly ensures user safety by trading directly on the exchange side. Users coins are always stored on the exchange and the platform does not obtain withdrawal rights. Through this, Zignaly assures its users a safe and carefree environment in which they can conduct all their trades.
7. Unlimited Coins
Users can trade any currency pairs that are available on their crypto exchanges. This lets users maximize the benefits of their chosen signal provider.
8. Automatic Trading
By connecting Zignaly and their preferred signal providers, users can trade automatically.
Pros and Cons of Zignaly
A Zignaly review would be incomplete without a list of pros and cons. Like every software that enables cryptocurrency trade via bots, even Zignaly has its advantages and disadvantages.
They are as follows:
1. Advantages of Zignaly
Availability of various signal providers to choose from: Zignaly supports various signal providers and by using these, users can always have the upper hand when it comes to trading.
User friendly interface: Zignaly can be very easily used even by beginners. Its user interface allows for anyone to easily learn how it works. Its features are explained well and easy to use.
User Determined Cryptocurrency trading pairs: Users are not bound by pre-determined trading pairs and have the ability to create their own.
Cloud Based: This allows users to access the platform from anywhere. This ensures that users are not bound by their computers.
Safe and Secure: Zignaly puts user safety first by ensuring that it has no withdrawal rights from user’s exchanges. Trading is done directly on the exchange side.
2. Disadvantages of Zignaly
Users need some knowledge of trading strategies: Without the knowledge of some basic trading strategies, users may incur losses. Considering how volatile the market is, this is something to be considered.
Automated Trading Carries Risks: When trades are automated, there can be risks involved with algorithms and such. Users must be aware of this.
Can we really make money with Zignaly?
Zignaly is a reliable platform. Its system works. As a trading bot, it is efficient and does what it advertises.
With that being said, making money is not a guarantee. There are a lot of factors that affect the profit-making capabilities of cryptocurrency trade. The market can be very volatile and making profits can never really be guaranteed.
It is definitely possible for users to generate money with Zignaly, but users must be cautious of the risks involved with cryptocurrency trade.
Zignaly is very affordable. It offers only one plan. With a price tag of $15.99 per month, it is way cheaper than its competitors. It does offer a great value for money and gives one room to grow a profit with your cryptocurrency trading.
To help you affirm that your decision is right, Zignaly allows you to make use of a free 30-day trial. This trial does not require a credit card.
In this plan, it offers unlimited exchanges, unlimited coin pairs, unlimited positions and priority support.
Zignaly also charges no trading fees. The only price they charge is their monthly charge.
Review of Zignaly – The Conclusion
To summarize, though there exist several services online that allow one to trade cryptocurrency with the application of bots online, Zignaly is one of the better options one can find.
One will find an incredible number of bots that will scam users in one way or the other, but users can rest assured that Zignaly is a genuine service that works brilliantly.
With its cloud-based platform that allows its users to access it from anywhere, its beginner friendly Interface and variety features, Zignaly is a platform that’s great for any individual interested in cryptocurrency trading.
With an understanding of how cryptocurrency trading functions and some knowledge on how the market works, it is definitely possible for one to make great profits using this platform.
Zignaly provides a great platform for beginners. With features that make it easy to trade, an interface that is easy to navigate and tools that make it easy to make decisions, this platform can be a godsend.
With detailed explanations for each of its tools and features, Zignaly makes it extremely easy for a new user to familiarize themselves with the platform.
The availability of various signal providers gives users an upper hand when it comes to trading.
Zignaly ensures user safety in all its transactions and with detailed information provided on its developers, it is definitely trustworthy and not a scam. The service does exactly what it says it does and poses no risk to the users except those that generally come with cryptocurrency trading.
Cryptocurrency trading does carry huge risks and users must understand these risks before venturing into it. New traders must make themselves aware of how the market works and how the strategies can be used to optimize profits. Improper knowledge can lead to damaging trades irrespective of the platform used.
So, I do believe, that with a little caution and the right usage of all the amazing features that Zignaly has to offer, one can have a relatively enjoyable user experience and make great profits.