Kryll.io is a new decentralized platform for cryptocurrency trading created by a company called Cryptense. It will allow users to create fully automated trading strategies which can be executed 24/7. In this article, we bring a step-by-step guide on how to make money using this platform.
1. Design Your Strategy
If you want to earn money using an automated crypto-trading strategy, the first thing you need to do is create the strategy itself. Kryll offers a lot of flexibility, and you can design a strategy that will perfectly suit your needs.
Before you begin, you’ll need to decide which markets and cryptocurrencies you prefer as well as the level of involvement you want to have in your trades. Designing a strategy is very easy on Kryll because there are functional blocks which make the process pretty straightforward. For example, the Market Trends block will provide all the market information you need, including market fluctuations and market predictions based on machine learning.
One of the most interesting features on Kryll is called Signals. It’s basically a combination of tips coming from professional traders, social networks, and Telegram channels. The platform will also feature the possibility of receiving emails or messages with the latest news about the cryptocurrency market.
2. Test Your Strategy
One of the reasons why the Kryll platform is so great for beginners is the possibility of testing out your strategy before you actually use it for real trading. Kryll provides a test environment in the platform where you can play around with data that has been recorded for the previous six months. You can run your strategy and see how it would have performed.
However, this is not the only option. You can also run your automated strategy as it was running on the actual market in real time. You can see how your strategy would perform if you were using it and check for any mistakes. Once you gain confidence in the strategy that you have created, you can start using it. The best way is to start small and optimize your strategy based on the results.
Once you have designed and tested out your strategy, it’s time to use Kryll for what it’s actually made for - non-stop automated trading. Kryll.io will support all of the most popular cryptocurrency exchanges like Binance, Poloniex, Cryptopia, Coinbase, Bitrex, and HitBTC as well as many others.
In many cases, cryptocurrencies are sold at different prices at various exchanges. For this reason, it is possible to profit by simply using the exchange with the best prices. The founders of Kryll say the service will be able to do this. In other words, Kryll will execute your strategy in the most efficient way possible.
One of the biggest issues with cryptocurrency trading, in general, is cybersecurity. Fortunately, the creators of Kryll have thought about that too, and all of their servers are constantly under DDOS protection.
4. Share Your Knowledge With the Community
The team that created Kryll believes that collective intelligence is an important asset. When users share data about their strategies, they increase the collective intelligence which can make everyone more successful on the trading market.
For this reason, the Kryll platform will include a marketplace section. This section will allow users to share the strategies they have created and receive tokens in return. In this situation, everybody wins. Users with expert knowledge can help beginners and generate profit at the same time.
The marketplace section will also allow the users to interact with each other. They will be able to collaborate and talk about different strategies. A rating system will also be featured on the marketplace, so the users can rate strategies according to their efficiency.
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