The Zignaly Bot – A More Inclusive Approach for a Growing Market

Project Reviews / 02.03.2021

Zignaly is a popular trading bot that introduces a unique fee structure and no minimum investment limits to provide the crypto community with equal access to automated trading tools. The bot has seen considerable growth in usage and capabilities since its launch. Today, Zignaly boasts over $1.2 billion in trading volume with a total linked balance of$70.6 million.

Benefits of Zignaly Bot

Zignaly users gain much from utilizing this autonomous trading bot. The network features 24/7 support to streamline the onboarding process. Additionally, there are no minimum balance requirements or subscription fees. In this way, Zignaly does its part to lower the entry bar for crypto traders seeking bots.

Performance-Based

One of the main benefits Zignaly users obtain is access to the firm’s performance-based fee structure. Instead of purchasing a license or paying a monthly fee, you only pay a percentage of your profits. This fee is known as the success fee and ensures that you only are charged when the bot makes you profits.

Security

All data on the Zignaly network remains secured via enterprise-level encryption. For example, the network’s API keys are RSA-encrypted and stored outside of database servers. Additionally, the database is kept in an isolated DMZ. Impressively, the exchange is part of the Binance Broker program. Consequently, all funds are covered by their security layer and protected by their SAFU fund.

The network also employs various consumer protection mechanisms to keep your funds secure. The most popular of these systems is a 2-factor authorization. This system requires that you verify any withdrawals via a 2FA protocol. 2FA integration is widespread among exchanges because it provides an extra layer of protection with minimal effort on the user’s part.

Interoperability

Zignaly doesn’t offer its services to a huge selection of exchanges, but the networks it supports are all established and reputable exchanges. You can use your Zignaly bot to simplify trading on Binance, KuCoin, VCC Exchange, and BitMex.

How Does Zignaly Bot work?

The Zignaly box functions similarly to high-end trading bots that require large monthly subscriptions. You can set your trading parameters. Many top-end features such as trailing stop loss, auto-mode, and the option to reinvest or withdraw profits automatically.

Interface

The network’s interface is clean and concise. It offers you instant access to all the vital functionalities of the bot. You can use the interface to scroll through and choose signals to initiate your bot’s trading activities. There are currently 46 signals available.

Signals

Signals are preset trading indicators that can help you to finetune your bot’s actions. Zignaly can accept multi-targets from signals. Additionally, the bot can leverage sell signals to close your positions automatically. The network also supports TradingView signals which is a popular option among the top bots today.

Copy Trading

Another great feature of Zignaly is its support for copy trading. Copy-trading bots allow you to search through top-performing traders and automatically duplicate their strategy. Zignaly permits users to see in-depth trading data on trade leaders. Select the strategy you like, and any time they execute a trade, your bot will duplicate their actions.

Profit-Sharing

Profit-Sharing is a feature that is unique to Zignaly. Developers tout this function as the “evolution of the copy trading feature.” The profit-sharing feature is similar to copy trading in many aspects in that you will need to select the trader that best fits your desired strategy. The main difference is that you allocate your funds to this trader directly.

Unlike a copy trade in which your bot duplicates the trade leader’s actions, the Profit Sharing feature executes your trade utilizing a single position for both traders and investors. In this way, you are guaranteed the same results. Notably, to use this next-generation feature, you’ll need to deposit in a Zignaly Exchange account.

Zignaly Exchange

The Zignaly platform also includes a full centralized exchange. Here you can trade the top cryptocurrencies with ease as the platform works like any other integrated exchange. You can check your balances and market indicators using the interface. Best of all, the platform has received an official Binance Broker Program Badge.

Zignaly Pricing

Zignaly reduces the technical and financial barriers associated with trading bots. There are never any subscription fees, and the performance-based pricing model ensures that you get your money’s worth or pay nothing. For these reasons, Zignaly is considered one of the best trading bots for new users and those seeking cost-efficient alternatives in the market.

How to Use Zignaly Bot

To get started using Zignaly, you will need to head over to their webpage and create an account. Registration is a simple process that only requires that you enter an account name and password. Notably, the registration is free and takes under five minutes to complete.

From here, you have a couple of different options. The easiest way to proceed is to register for the Zignaly exchange directly. This strategy eliminates the need to link your bot using API keys, confusing new users. Additionally, utilizing the Zignaly exchange is the only way to partake in the network’s profit-sharing features.

Getting your Zignaly bot up and running on third-party exchanges requires a little more effort but nothing out of the ordinary. You will need to link to one of the supported exchanges via the API keys. Once connected, you can take advantage of Zignaly’s powerful copy trading features.

Final Verdict

Zignaly’s no fee structure, and overall user-friendliness makes it an ideal option for both experienced and newbie traders. The platform removes the risks generally associated with trading bots and allows you to get right to the action with minimal effort. When you couple these facts with the network’s proven security record, it’s easy to envision Zignaly continuing to gain popularity in the coming months.

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.