The 2017 cryptocurrency bull run attracted a lot of people towards the cryptocurrency market. While the ones who hopped on the bandwagon early on were reaping the profits, the ones who got on this trend towards the end of the bull run experienced major losses.
Bitcoin alone had lost around 75% of its value from its all-time high. People who simply started investing without any knowledge about the market ended up suffering this heavy loss.
This is where crypto trading bots come in very handy. Unlike the ill-informed trades that you normally do, the trading bots make trades only after considering valid signals.
One such bot that helps you automate your trades is the Zignaly bot. In this Zignaly review, we will have a closer look at this entire platform and understand the various features that it has to offer its users.
What is Zignaly?
When you trade on one of the popular exchanges such as Binance and BitMex have you come across a situation where there was a countertrade made right after you place a trade. This was most likely done by a trading bot capable of reading the market conditions better than you.
In such a scenario, where you go head to head against a trading bot, the odds of you coming on top are very slim. Zignaly is a new trading bot that will certainly change this entire ecosystem.
As the cryptocurrency market became popular, so did the trading bots. However, most of these trading bots are similar to each other but are only named different. This is where Zignaly comes in.
Zignaly can be considered as the next-gen trading bot with a ton of useful features that are very beneficial for both a novice and an experienced trader. With features such as copy trading, terminal trading on top of the advanced trading bot, Zignaly is one of the most useful trading bots that you will find in the market.
Let us now have a look at the unique features that Zignaly offers.
Features of Zignaly:
Some of the unique features that Zignaly offers its users are:
1- Copy-trading: Copy trading is an amazing feature to have due to several reasons. If you are new to the crypto world and want to learn cryptocurrency trading while being able to earn some passive income at the same time, then this feature will do marvels.
In copy trading, you will be able to find a well-established trader and set the Zignaly bot to copy every single trade that is placed by the experienced trader. As these trades have been made by an experienced trader, the odds of losing money on them are extremely low.
Additionally, it also helps you understand the cryptocurrency market behavior and helps you grow to become an experienced trader yourself.
2- Cloud-based: There are plenty of crypto trading bots out there that you can use. However, most of them come in the form of softwares that you would need to run on your local computer. The problem with this is that your computer would need to be turned on 24/7 to avoid losing any particular trading opportunity.
To remove this bottleneck, Zignaly trading bot has been hosted on the cloud and is available 24/7. With a web-based interface, you will be able to configure the bot and change the strategies from any web browser out there.
3- Trading terminal: This is a feature that most of the expert traders would appreciate. Unlike the other bots where you would not know the current conditions without actually checking the market conditions for yourself, you can make use of the trading terminal and keep track of the current market conditions.
With the trading terminal, you will be able to analyze the various trading signals that you receive, compare them with other trading signals and decide as to which order to place.
4- Unlimited coin support: This is one feature that you will not find in most of the popular bots out there. In existing reputed trading bots, there is always a cap with the number of different coins that you can trade using.
This is not the case with Zignaly. After you provide the API key of your account on a cryptocurrency exchange, the bot is capable of trading any cryptocurrency pair that is supported by that particular exchange.
5- Trailing stop losses: This is one feature that is extremely helpful and yet is missing from most of the trading bots as well as the cryptocurrency exchanges. Zignaly trading bot keeps a very close eye on the market condition of any particular coin and sells when the market is on the upside.
Sometimes, there might be a scenario where you might sell at the wrong moment and the market condition flips. With the trailing stop loss feature, this scenario will be avoided. Not only will you be able to enjoy the benefits of a climbing market but you will also be able to reduce the losses in a bear market.
Zignaly is a trading bot that is filled with features to the brim. Let us now move on to the advantage-section of this Zignaly review article.
1- Reduce loss: Zignaly takes trading signals from several different providers. This ensures that the signals on which the bot acts are verified. This, in turn, ensures that the risks of a loss are extremely low.
This, when combined with the trailing stop loss feature, helps to not only reduce loss but also increase the profits greatly.
2- Maintenance-free: You needn’t worry about the software set-up or its maintenance anymore. As the entire system is on the cloud, you can be assured that all software upgrades are going to happen without your intervention. Additionally, with the bot hosted on the cloud, all your trades will be automated even while you sleep.
3- Paper trading: Even though Zignaly trading bot provides amazing features that increase your profits, you can also make use of the paper trading feature where you will be able to make trades using virtual money. This helps you understand the market better while not having to endure any loss during the entire process.
It’s very hard to find any flaws in an awesome trading bot such as Zignaly. However, like any other platform, this too has a few disadvantages:
1- Price: While the trading bot has been launched at an affordable $15.99 per month, don’t expect it to last long. Once the product picks up some popularity, this amazing subscription price is going to go up.
2- Returns during bear markets: Just like most other trading bots out there, Zignaly will not be able to perform well during the bear markets. In a high volatile bearish market, the odds of actually losing your money are higher than making some profits.
Can we make money with Zignaly?
Unlike most of the other popular trading bots, Zignaly considers trading signals from multiple platforms. Instead of relying on just one signal, Zignaly makes its decision based on signals from multiple sources. This helps to get rid of some of the less trustworthy trading signals.
With the bot capable of automating your trades round the clock, you can be sure that none of the trading opportunities are missed. With the bot capable of supporting all the trading pairs, the number of amazing trading opportunities that come by regularly is off the roof.
These features, when combined with features such as copy trading and trailing stop losses, can ensure that you can earn some passive income by using the trading bot.
Let us now move on to the pricing section of this Zignaly review.
Zignaly is a new entrant to the crypto trading bots market. To bring in more adopters early on, the bot has a very attractive subscription plan of just $15.99 per month. This might seem a bit more expensive than the entry-level plans of most of the other trading bots out there.
However, in the basic plan provided by other trading bots, you will need to compromise when it comes to the exchanges that are supported as well as the number of trading pairs that the bot supports. This is not the case for Zignaly. You can not only trade on unlimited exchange very soon but also trade all cryptocurrency trading pairs.
So, when you compare the price of the bot to the features offered, you are getting the bot at a bargain. This amazing price point is not going to last forever and will change as soon as Zignaly has a considerable user base backing the trading bot.
Zignaly Review – The Conclusion
Till now we have all seen trading bots just automating all your trades in the background. Zignaly has been developed to revolutionize the entire trading bot industry. With a great subscription price and a plethora of features, it has the potential to become the market leader even though it arrived late in the scene.