Whether you are an experienced trader or a trader who has just started on their adventure you have probably come across Zignaly and its platform. Part of you has probably questioned whether trading bots, or more specifically Zignaly is for you. Let’s take a dive into what Zignaly is, how it works, pricing, and whether it is for you or not.
What Is Zignaly
The first thing that people need to understand about Zignaly is that it is not an exchange. It is a crypto trading bot that has the ability to link up with many different exchanges in order to perform buys and sells based on things you have previously set up for the bot to execute. Since this is a trading bot, it will benefit you to know a little bit of how trading bots work and how to set them up so that they are able to trade for you. If you are interested in finding an exchange to trade cryptocurrencies then you will want to keep looking around. However, if you have found this page because you are looking to help automate your trading and take emotions out of the situations, then Zignaly might be for you.
How Does Zignaly Work
As I stated Zignaly is not an exchange. It is a trading bot that you have to set up in order to trade for you. There are a few things that you will need to have a working knowledge about before setting up the bot to trade for you. However we will jump ahead to the main stuff. When setting up Zignaly you will need to use what is called an API. An API basically is able to talk with the Zignaly bot and the exchange that you choose to use in order to place the trades.
After you have set up the API, Zignaly can then talk with your exchange. Once that has happened you are free to go and trade using the bot. You will need to pick up a bot, and make sure that you are using the correct setting based on your inputs.
How Pricing Works With Zignaly
Zignaly is currently free to use. There are several different features that enable users to have an experience that has more to offer. When you sign up with Zignaly you will be able to set up buys and sells directly from TradingView or from the Zignaly Platform itself as you go.
Once you sign up with Zignaly you will be able to trade just as any other exchange. After getting into trading and making a profit, you can expand into other areas so that you are able to use the bots more efficiently. Two other features that are very exciting are Profit Sharing and Signal Providing. With a profit sharing feature you as a trader put some funds into one of Zignals accounts. You then can search for a person who is making a good profit percentage and sign up your account to do EXACTLY what they are doing with their own account. So if you are following GridbotGuru and I have a trade that makes 3% profit, then your own account will also make 3% profit of the funds that you signed up for. There is not a fee for this service, there is only a success fee. With this it means that when you raise a persons total account value of 1% they will get a success fee. However, you would only get another success fee after you raise the total value again. In other words, people will only get success fees if they continue to raise the account value, not per trade. You can also become a signal provider with Zignaly. When you do this you can create your own custom brand and name. People can sign up under you in order to get your signals and with these you can also deploy certain bots and trading abilities in order to maximize profits.
Is Zignaly For You
When a person is looking at whether to sign up for Zignaly or not they should first consider if they are new to trading or if they are experienced traders. If they are new to trading there are other trading bots that I would recommend first, however if they give themselves time they can learn how to use Zignaly to trade. The second is if they are able to fully understand how the bots work and are able to use them correctly.
Written by Gridbot Guru，Gridbotguru@gmail.com