Zignaly Review – A Good Choice for Bot Trading on Binance
After being launched in 2018, Zignaly has become one of the most successful automated trading platforms in the cryptocurrency world. It offers a good toolset, however, the exchanges it will trade with are very limited.
The platform has increased its reach substantially in just over a year since its arrival. This is attributed in large part to its automated trading operation, which seems to be popular. The bot concentrates on simple and advanced trading processes and operates on preset approaches to make the most of market patterns.
Zignaly’s services are built on a cloud-based system. This allows users to access their features whenever and wherever they want, even if their main device is not accessible. In order to achieve this, the platform gives users unrestricted access to its supported exchange for cryptocurrencies.
The platform ensures that day traders can take a break from their screens with different signals and instructions. It also makes sure that the analysis of the market and the subsequent trades meet their needs.
Given that this function is a key to an efficient trading bot, Zignaly is a highly praised name for crypto traders with this simple yet productive concept. If you are looking for a bot that delivers repeatable performance (especially with Binance), read on!
How do People Like Zignaly?
From Reddit to BitcoinTalk, Zignaly has created a strong impression and a good reputation in the community of those who have experienced its utility. It’s not too much to say that Zignaly is one of the most successful trading bots in cryptocurrency, at least from a usage perspective.
These positive views are not limited to people who have already used the platform. Reviews from critics generally also tend to agree that Zignaly provides top services to the most competent day traders.
Besides that, Zignaly has an amazing feature that seems hard to locate in other major trading bots: information about live metrics. The company ensures that it has included all the relevant information in these reports, such as the monthly sales as well as its burn and churn rates.
The specifics are set out in easy-to-understand diagrams, rather than in complicated tables with loads of boring numbers. Considering that this level of openness is not normal, Zignaly is given a major plus in credibility. These metrics can really help traders and are a big plus for the platform.
Zignaly focuses on one exchange, namely, Binance. Over the medium term, the platform is in the process of adding more exchanges to its lists such as Bittrex, Poloniex, and KuCoin.
Since Binance is one of the world's biggest exchanges of cryptocurrency, many customers have no problem with it. Most people with the willingness and means to use cryptocurrency might easily turn to Binance and set up their accounts, even if Zingaly's bot trading services are not a part of the equation.
Limitation exchange options, however, gives Zignaly a unique drawback.
Given that Binance may soon stop supporting US cryptocurrency traders in favor of a dedicated exchange, due to compliance with legislation, those in the US will be unable to access Zignaly's services unless the platform provides support to additional exchanges.
This is a potential problem for those who live in the United States or have a US visa because they will not be able to access foreign exchange facilities legally. That is quite a problem. As a consequence, Zignaly's offerings would be limited to non-US users. Adding more exchanges is a solution for the platform, and Zignaly should do it as soon as possible.
What Does it Cost?
Currently, many products have been created on the platform, but its core focus is always its trading bot. All these services, including the robot, are provided in a $0 / month beta plan (Free!). Zignaly charges no fees on transactions itself like most other crypto bots. But the exchange fees still have to be paid.
The package also offers priority support for accessing unlimited cryptocurrencies, pairs, and positions. It guarantees full access to all supported exchanges as soon as Zignaly adds more exchanges.
The price point at which the company provides access to all services is outstanding. It is particularly important since other trading bot services often offer similar services at a heavy price tag, and this isn't going to be good for your returns. But Zignaly is still free for it.
For the above plan, users get complete access to all features on its platform. To enhance a user’s daily business operations, advanced options like trailing stops, stop-loss orders, profitability, and automated closings are also provided at the same price (Free!). Traders can also segment their income goals per position and easily test their results.
It is advisable to note that, although Zignaly offers free access to its trade signals library, the signals are not free of charge. Signals with a paid developer license still need to be purchased by traders because they come from the signal provider and not from Zignaly.
While this arrangement creates a new cost to the platform's overall price point, the situation is reasonable, considering Zignaly's range of services at its current price point. It is hard to beat the platform on price!
Can I Figure it Out?
The Zignaly has a clean and crisp, yet highly functional user interface (UI). Whether you're a new user or a seasoned day-trader, you can use the platform easily and efficiently grow accustomed to it without a problem.
You can also get visual data on graphics to understand the output of your chosen cryptocurrency markets alongside a sidebar with various functions that has basic and advanced settings.
Execution on the interface turns out to be very simple when it comes to setting up different positions, using signals, and creating strategies. All this makes the platform of Zignaly quite attractive to traders who want to save time while creating a tool that they can use to their trading advantage.
As a cloud-based platform, the time for Zignaly’s installation is practically non-existent, and this provides Zignaly's programs with another layer of convenience. Overall, it is a slick platform that is pretty easy to use, especially if you have some experience with trading cryptos.
Features and Options
Zignaly's trading bots are a combination of basic and advanced settings.
Besides investing, signaling, and pairing, traders could also choose advanced selections for positions and orders. These include creating a TradingView account with Zignaly to set up your advanced strategies simultaneously. With these options, you would also benefit from other opportunities like DCA rebuys.
A very thorough and informative base of user knowledge is accessible for even its most advanced options and settings so those who want to use these features can benefit from them after learning them.
With the ability to configure advanced options, this combination of simple pre-set signals and strategies is not only perfect for expert traders but also ideal for newbies and seasoned traders. If you are ok to trade with Binance, it is hard to find a better bot that doesn't cost much to use.
Am I Safe With Zignaly?
In accordance with other trading bots and platforms, Zignaly has no direct access to funds from the customers. The operation runs only through the exchange that the trader uses it with.
As the platform now supports Binance only, it uses its API to connect to the exchange, but will not allow it to take funds from the trader's account.
Zignaly is also warning clients not to provide withdrawal authorizations through the API. As a result, customer funds are not directly accessible. This guarantees security and prevents the funds from malicious attacks.
Help and Support
Among existing crypto trading platforms, Zignaly has one of the broadest knowledge bases. All the support info is available in a searchable database that tells users exactly what they need to know. If traders and clients come up with other questions, they are free to look for answers via the Discord community on the website.
Subscribers could also receive support from priority customer assistance directly from the founders of the platform themselves, which makes Zignaly stand out compared to other providers in the same segment.
In terms of customer support, Zignaly seems to nail its performance with no seriously negative quantity of comments about the website. It is free, and traders probably love the options they get at basically zero cost.
Can I Make Profits with Zignaly?
When looking around Reddit and BitcoinTalk, it’s easy to find positive vibes from people who are using Zignaly. Most of the people who already used the platform are pleased with the profits they receive and happy to come back for more.
Overall Zignaly stands out as a great crypto trading bot that offers investors a lot of tools for next to nothing. It is limited by the fact that it only works with Binance for the moment, but if you like that exchange, it is worth your consideration.