Zignaly

INTRODUCTION

Zignaly is a cryptocurrency trading platform developed in 2018 in Kingstown, Saint Vincent, with which users can make trades of Bitcoins or other currencies, either manually, or by using a bot.

The platform offers a cryptocurrency trading bot that automates the trading of cryptocurrencies by using crypto signals together with the user’s settings and rules and helps traders to find other top-performing crypto traders and copy all their trades automatically.

Most of the platform’s users prefer to opt for automatic trading, using signals and strategies.

Traders will utilize signals to trade, which ensures that trades go on around the clock, even while a user is asleep, and traders can choose their own set of rules and strategies to make their position clear and make trades.

The Zignaly platform helps users to configure their full trading strategies with different methods, including Stop-Loss, Take-Profit, and Trailing Stop. With Zignaly the desired strategy can be implemented, with no limits.

Trading bots make getting into the cryptocurrency trading scope easier to maintain and help traders in their quest to maximize profits and minimize losses. It helps to ensure maximum returns and can make an extraordinary portfolio.

Zignaly is still relatively new, but it is possible to make money with the platform, due to the help a trader gets from signals. This is more suitable for experienced traders, who can set a tried and tested strategy to make a trade, and poses a higher risk for total beginners, as more money may have to be spent on the plans than the money they win.

Zignaly offers a great cloud-based solution and great customer support, but it is not ideal for beginners since it offers only opportunities and guidance on how to use the platform, but little education to help inexperienced users in the world of cryptocurrency itself.

The fact remains that cryptocurrency trading opens a whole new world and bots are most probably the future to it.

FEATURES OF ZIGNALY

The Zignaly platform comprises several helpful features, among which are the following:

Crypto Signals

In addition to a trader’s own strategies and insights, it is wise to heed support and guidance from professionals. The management of buying and selling signals can be done with the help of outside integrated signals providers.

TradingView Bot

A trader can use their own signals and send them from TradingView, by using indicators or recommendations.

Cloud-based

Zignaly is an online service with a cloud presence, which means that it would always be updated and requires no installs or servers on the trader’s side.

Supports a Wide Selection of Cryptocurrencies

The Zignaly platform supports all pairs of coins from enabled signal providers.

Trailing Stop Loss provided

Trailing stop loss is one of the most used strategies in the crypto trading sphere, in which it follows the price until market conditions reverse.

Safety

Zignaly trades directly on the exchange side, making a trader’s trades and resources safe and secure.

ADVANTAGES OF ZIGNALY

Zignaly offers simple logic-based decisions, unclouded by any human judgment and emotions, with all decisions based on an algorithm formulated for maximum profit. Advantages include the following:

Instant trading

Since the cryptocurrency market is so volatile, even a split second can make a difference between profit and loss. Zignaly enables the trader to always make trades by setting a predefined rule set for the bot, which can help a trader make unexpected wins, as well as avoid major losses, as the bot can react to a sudden drop instead of waiting for the trader to act.

Lots of signals

The trading bot determines selling and buying based on the signals allowed by the trader, which means that an informed decision will be taken with analysis from multiple sources.

Visualising a strategy

Zignaly’s trading terminal allows a trader to see the strategy he has in mind unfold, with the results visible too.

Simplicity

Zignaly makes it easy for traders to adapt to the platform. Since its launch, more than 43 million trades have already been carried out using it. The platform should take only 10 minutes to set up, making it one of the easiest platforms in the business.

DISADVANTAGES OF ZIGNALY

Relatively new platform

As it has only recently entered the market, information on the platform is still scarce and the bot has not been able yet to manage to carve out a niche for itself amidst competition.

Risky

Most trading bots offer newcomers a chance to try out their strategies by backtesting and paper testing, but Zignaly moves right into business. This holds quite a risk for users who are new to the business and want to learn more before taking the leap.

Low online community support

Since it is still in its preliminary stages, it is still lacking a significant online community that can guide inexperienced users.

PROS AND CONS OF ZIGNALY

COST AND FEES

Zignaly started by offering great plans at reasonable pricing while the platform was still in its initial stages. A 30-day free trial made for the ideal opportunity for users to spend a whole month looking through the platform and deciding for themselves.

First, the Zignaly beta plan cost $15.99 per month, but apparently, the Zignaly trading platform is now free to use.

A free account includes the following features:

• Unlimited Exchanges – membership is not limited and a trader will get access to all the platform’s features
• Unlimited Coin Pairs
• Unlimited Trading Positions
• Priority Support
• Trading fees cashback – If you optionally pay any membership during certain periods, you may get back one and a half times what you paid, as a discount of the exchange fees you paid on the Zignaly Exchange
• Advanced options – You get access to advanced features like Trailing Stop Loss, Autoclose, DCA ReBuy, and more, to take your trading to a next level
• Direct support with founders

You may only have to pay for extra trade signals on Zignaly. Although Crypto signals for trading are available for free on the Zignaly platform, you can also pay for cryptocurrency signals from other providers.

Zignaly has plenty of free signal providers to choose from, all with proven track records, so traders should be able to make profits on their crypto trading without having to buy these extra signals.

PAYMENT METHODS

At this stage, Zignaly accepts PayPal, credit cards like Visa and Mastercard, and Crypto through Coinpayments. Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Binance Coin, Dash and Monero are the coins that are accepted.

SAFETY AND REGULATION

The developers of Zignaly promise that it is safe and secure to use the bot since they themselves do not hold traders’ funds; it is secured on the exchange side. The current Zignaly Exchange is part of the Binance Broker program, and the funds are covered by their security layer and protected by their SAFU fund.

A high-security level is always maintained: API keys are RSA-encrypted before being stored in the database, and the database is in an isolated DMZ with no public access. A certificate is used for encrypting or decrypting the API-Keys, which are kept outside the database servers.

HOW TO USE ZIGNALY

Once a trader has signed up for a free Zignaly account he simply needs to connect his exchange account via API keys provided exchange side to allow Zignaly to make trades on his behalf.

Zignaly does not get permission to withdraw funds, so a trader’s assets are safe on the exchange. A trader funds his exchange account and then can use whichever features from Zignaly he would like to automate his crypto trading.

CUSTOMER SUPPORT

The customer support team of Zignaly can be reached via a live chat option or email and support are promised to be available 24 hours per day. Traders can join a mailing list to receive updates from the team too. They will regularly send you crypto market updates, learning materials, tips, and tricks on crypto financial freedom, and many more.

EDUCATION AND TRAINING

Before starting to trade, potential Zignaly clients should arm themselves with all possible information and trading skills needed to be successful in the world of cryptocurrency trading, since the platform’s website does not provide much education.

RESEARCH

Successful trading relies heavily on knowledge and understanding of the markets and the platform; therefore, research options form an integral part of its features when choosing the right company to trade with.

SUMMARY

Zignaly is a relatively new but powerful automated trading platform on the crypto trading bot scene. With several cryptocurrency signal finder services available, the cloud-based platform provides various levels of automation that can suit users of any experience level. Users can have completely automated trades, combine others’ trading strategies with their own, or build and automate their own strategies from scratch.

Cryptocurrency trading bots are vital tools for traders. Once you can adjust its settings and define effective trading strategies, the bot will become your best trading tool.

DISCLAIMER

Zignaly warns potential traders that its products are complex instruments and come with a substantial risk of losing money rapidly, thus not necessarily suitable for all types of investors.

Potential traders should consider whether they understand how these products work and whether they can afford to take the substantial risk of losing money.

FAQ

What is a crypto trading bot?

Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market.

Why are crypto trading bots useful?

Crypto trading bots remove fear and emotions from the trading calculation by allowing investors to execute trades based on a predesigned strategy. Bots enable a trader to run his trading plan 24/7 without having to dedicate lots of time to market analysis.

Are trading bots legal?

Cryptocurrency trading bots are fully legal but not all brokers allow bot trading. Algorithmic trading is legal, but many people have objections to how automated trading can impact the markets. There are however no rules or laws in place that keep retail traders from making use of trading algorithms.

Are trading bots safe to use?

Zignaly takes security very seriously and it follows the strictest processes to assure a higher level of security by using encrypted data, enabling 2FA.

How to choose the best trading bot?

There are specific key functions to remember when choosing a cryptocurrency trading bot. You need to understand functions like reliability, security, profitability, transparency, and ease of use when researching bots, so it is important you understand exactly what each one means.

Do I need to deposit funds?

It is optional and usually depends on the service a trader wants to use. To use Profit Sharing you will need to make a deposit on a Zignaly Exchange account.

Are there trading fees charged?

No, Zignaly does not take any fees from your trades. The only fee you need to pay is the one from your enabled exchange, nothing from Zignaly.

What types of payment does Zignaly accept?

Currently, Zignaly accepts PayPal, credit cards like Visa and Mastercard, and Crypto through Coinpayments. The coins accepted are Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Binance Coin, Dash, and Monero.

Do I need to pay for the signals?

There are Free and Paid signal providers and copy traders integrated with Zignaly. Some of them require an extra cost that you may pay directly to them externally or internally.

How much profit can a trader make?

As a platform Zignaly’s role is that of an intermediary, to make it easy to trade or invest for traders, but it cannot assure any profit.

Is a trading bot easy to use?

Yes, if you decide to go with Profit Sharing, which is the easiest way to invest, you only need to choose a trader to invest in and allocate the desired amount. And if you need help, support is available.