Zignaly is an automated trading bot that eases the processes of manual trading by representing a trader to execute trading commands without excessively demanding inputs from the user.
Cryptocurrency trading is gradually evolving from a vague concept to become a much relevant and potent skill. While there are individuals that have developed the capacity and the technical know-how involved to execute successful trades, others find it much too complex, risky, and time-consuming.
The basic requirements of trading, which include capital, trading knowledge, and time, might not easily be at the disposal of every potential cryptocurrency trader. Therefore the need for automated trading computer programs, also referred to as trading bots, has arisen.
Crypto trading bots are simply automated systems that represent the trader in set times, performing a good number of the functions required and executing profitable commands. The idea of trading bots can be traced as far as 1949 by a concept first brought about by Richard Donchain when he came up with a set of rules that involved the purchase and sale of funds.
The future would see this idea become more adopted in the 1980s and more popular at present. The predominant reasons for the need for crypto trading bots are down to the fact that the cryptocurrency market is active 24/7, as well as highly volatile. This need is what Zignaly is designed to handle. Built to be a passive income machine, Zignaly makes automated trading incredible swift and profitable.
Founded in 2018, Zignaly is a fintech company that intends to become the leading crypto trading bot provider in the market. The Spain-based company was founded by its CEO Bart Bordallo, alongside CMO David Rodriquez, and Abdul Rafay Gadget. The Zinaly expert team consists of 13 staff aside from the co-founders.
The company currently has a total funding cap of 3 million USD in its series A as of March 31, 2021.
The firm currently partners with over 13 active investors including OKEx and Sino Global Capital. At the time of penning this article, the estimated total trading volume on the platform is about $1.3 billion.
Bordallo oversees the transactions of the firm alongside co-founder David. A member of the team, Julian Gropp, doubles as a portfolio manager and advisor to the company.
What is Zignaly?
Zignaly is an automated trading bot that eases the processes of manual trading by representing a trader to execute trading commands without excessively demanding inputs from the user. This implies that Zignaly allows users to trade external crypto signals from trusted signal providers even when the user is unable to execute such commands. As one of the foremost trading bots platforms, Zignaly is referred to as “the perfect new-age bot”.
It is a system that is designed to make earning passive income from cryptocurrency trading a reality. Currently, the platform supports over 21 cryptocurrency signal providers but the list is likely to keep increasing as efforts are consistently made to ensure that trading gets easier.
The trading bots are capable of running analysis on available signals before executing. These signals can as well be analyzed by a pro trader and imputed on the bots to familiarize with the list of the users and favored signal providers.
The platform has a very healthy rating as an open cloud-based system that allows traders to link with several crypto exchanges through APIs and automatically place orders through the use of its feature-rich systems.
Crypto Trading Bot
The crypto trading bot that Zignaly offers is not just feature-rich but also easy to navigate. Users of the software can make a good range of decisions automatically, allowing them to buy and sell coins at the right time according to the bot’s careful but swift analysis.
One fascinating feature native to Zignaly’s trading bot is its ability to let users send signals from TradingView through the use of various indicators that are based on their recommendations.
Another impressive feature of the Zignaly trading bot is the trailing stop loss. This strategy is quite famous and very useful to traders using the trading bot. What it entails is that the bot can follow the market trends and price of altcoins until it records a reversal in the market before it executes a sell order. This feature allows users to make safer crypto trades and minimize losses.
While Zignaly provides users with a good number of signal providers that they can trust to execute their trades, it also provides an equal avenue for copy trading which is quite different from the signal provider tool. Copy trading is different from signal provision as a copy trader is in charge of managing a user’s account and balance. The copy-trader can as well on some occasions, manage the user’s position.
Copy trading on Zignaly involves a well thought out strategy as followers that intend to copy a trader must be set to place a minimum investment as set by the copy trader as a parameter to successfully close the indicated positions.
These parameters are measured in percentages and a copy trader is required to consider that before declaring positions and allocating minimum balances.
When a copy-trader is being followed, his signals and orders are executed simultaneously at the same time as his followers. This method is different from the execution of orders from signal providers as the orders of the signal provider are first submitted before any user follows suit.
In this method, a copy trader handles the accounts of his followers and earns from his efforts through the method of shared profits. This method is called a “success fee” and the copy trader is at liberty to set his profit rate. If a copy trader wants to, he can set his success fee at 50%, 20%, 25%, or anywhere in between. The platform collects a fee of 5% in profit after every successful trade conducted through copy trading.
Profit sharing is different in the sense that a copy trader only earns when there is a success recorded, as opposed to monthly subscriptions for trading signals from preferred experts.
Zignaly would be launching the ZIG token in April 2021. The ZIG token is designed to be different from other Bitcoin projects as its transaction model is built to offer value to both investors and professional traders.
The token is NFT-based and would be used to pay for fees within the Zignaly protocol. The token governance is an exclusive structure where holders can give feedback, vote on important issues, and get to test beta new features.
Other uses of the token are insurance and risk mitigation, profit-sharing, and loyalty rewards. ZIG coin is tagged as the first-ever NFT-based insurance protocol.
ZIG is set to be listed on AscendEX on April 15.
As more individuals develop solid interests in cryptocurrency trading, attention must be paid to systems that enable users that lack the necessary skills but want to participate. These systems are automated and are capable of solving certain trading analyses for investors and maximize their investment.
Zignaly is one of such automated systems that simplifies the cryptocurrency trading experience. These bots are designed to follow the pattern of signals from successful traders that users like and execute buy or sell orders better than they could by themselves.