Kryll Review 2024: Strategy Building, Backtesting and Automated Trading

The cryptocurrency market is volatile, complex, and fast-paced. It can be challenging for traders to keep up with the trends, analyze the data, and execute the trades. That’s why many traders are turning to automated crypto trading platforms, which allow them to create and run trading strategies without manual intervention. One of these platforms is Kryll.io, a cloud-based platform that claims to offer a simple and powerful way to automate your crypto trading. But what is Kryll.io, how does it work, and what are its pros and cons? This hands-on Kryll review tackles everything you need to decide if it’s worth it.

What Is Kryll? Introducing Kryll and Its Offerings

So what value does Kryll bring to the table? At its core, Kryll enables anyone to systematize high-frequency crypto trading strategies without manual intervention across leading exchanges. You get easy-to-use tools to develop, test, monitor, and run your automated trading bots in a unified platform.

For creators, Kryll sports a flowchart editor with prebuilt blocks for crafting intricate auto-trading algorithms without coding expertise. Bots react to indicators and execute conditional orders automatically once set.

For consumers without coding chops, Kryll review offers a treasure trove of proven bots created by vetted pros to simply rent instead – a major convenience saving development time and asset testing capital.

Let’s walk through Kryll’s layout and core components fueling this ecosystem:

What Kryll Offers: Tools to Systematize Your Crypto Trading Strategies

Kryll.io has four main components: the marketplace, the strategy editor, the backtesting, and the portfolio management.

Marketplace

The marketplace is where users can find and rent pre-built trading strategies from other users. The strategies are classified by categories, such as trend following, arbitrage, scalping, or swing trading. The strategies are also rated by their performance, popularity, and user feedback. Users can see the details of each strategy, such as the logic, the indicators, the exchange, the pair, the timeframe, and the price.

The price is determined by the creator of the strategy, and it can be either a fixed fee or a percentage of the profits. Users can also see the historical results of the strategy, but they should be aware that past performance does not guarantee future results.

Strategy Editor

The strategy editor is where users can create their own trading strategies, using a visual drag-and-drop interface. Users can choose from a variety of pre-built blocks, such as indicators, operators, triggers, actions, and notifications. Users can also customize the parameters of each block, such as the period, the threshold, the amount, and the stop-loss.

You can also combine multiple blocks to create complex logic and conditions. The strategy editor is designed to be user-friendly and intuitive, but it also offers advanced features for experienced traders.

Backtesting

Backtesting is where users can test their strategies with historical data, before deploying them in the live market. Users can select the exchange, the pair, the timeframe, and the period of the backtest, and see how their strategy would have performed in the past.

Users can also see the statistics of the backtest, such as the number of trades, the profit, the loss, the drawdown, and the return on investment. Backtesting is a useful feature to evaluate and optimize the strategies, but it also has some limitations. For example, backtesting does not account for slippage, latency, or market impact, which can affect the real performance of the strategies.

Portfolio Management

Portfolio management is where users can track and manage their crypto investments across different exchanges. It allows traders to review essential metrics in one dashboard – checking the balance, value, performance history, and asset distribution across exchanges. Live reporting tracks deployed strategies, monitoring executed trades, and realized profits and losses in real-time.

Complete control remains in users’ hands; strategies can be stopped, edited, or removed entirely at any moment. Portfolio management is a convenient feature to have a global view of your crypto trading activity and performance.

Additional features: Some unique features that set Kryll.io apart, such as:

• • Smart Trading: A feature that allows users to execute manual trades with advanced options, such as trailing stop-loss, take profit, and dollar-cost averaging.
  • Social Trading: A feature that allows users to follow and copy the trades of other users, or share their own trades and earn fees.
  • KRL Token: A utility token that powers the Kryll.io ecosystem, and provides benefits to its holders, such as discounts, rewards, and governance.

Read more for a summary of the top 12 Telegram crypto trading bots.

Kryll Review: Assessing the Founders and Core Team Behind the Platform

It was founded by a team of experts in crypto, finance, and software development. Some of the founders and team members are:

• Luca Benevolo: Co-founder and CEO. He is a serial entrepreneur and investor with over 20 years of experience in the IT sector. He is also the founder and CEO of Cryptense, the company behind Kryll.io.
• Philippe Longère: Co-founder and CTO. He is a software engineer and blockchain enthusiast with over 15 years of experience in web development and IT security. He is also the co-founder and CTO of Cryptense.
• Paul Collorafi: Co-founder and COO. He is a business developer and crypto trader with over 10 years of experience in the financial sector. He is also the co-founder and COO of Cryptense.
• Fabien Mabon: Lead Developer. He is a full-stack developer and blockchain expert with over 8 years of experience in web and mobile development. He is responsible for the development and maintenance of the Kryll.io platform and its features.
• Romain Legresy: Marketing Manager. He is a digital marketer and crypto enthusiast with over 5 years of experience in online marketing and communication. He is in charge of the marketing and community management of Kryll.io.

Kryll Review: Weighing the Main Pros and Cons

Pros:

• Easy to use drag-and-drop editor: Even without coding knowledge, I could build basic bots using visual blocks and indicators. It’s like building a game, which makes it engaging.
• Pay-as-you-go model: My biggest draw! I only pay for activated bots by the minute, saving me money when I’m not actively trading.
• Feature-rich marketplace: Access to ready-made bots created by other users. Saves time if I don’t want to build my own, offering strategies for various market conditions.
• TradingView integration: Connect Kryll to TradingView charts for seamless technical analysis and strategy building.

For information on top platforms that offer automated cryptocurrency autotrading in TradingView, please refer to this overview.

Cons:

• Native token payment: Kryll uses its own KRL token for everything, which can be volatile. While you can buy it with fiat, it adds an extra layer of complexity.
• Marketplace can be confusing: Some bot descriptions are vague, making it hard to understand exactly what they do. Trialing them individually can eat into your minutes unless you know precisely what you’re looking for.
• Not for day traders: The minute-based pricing works better for swing or longer-term strategies, as frequent trades quickly rack up costs.
• Limited backtesting: No paper trading or historical testing within Kryll, so you have to test your bots live, which can be risky with real money.
• The community could be bigger: I haven’t found a massive active community for Kryll, although the Telegram group provides some helpful discussions.

Overall:

Kryll is a great platform for beginner and intermediate traders who want to automate their crypto strategies. The visual editor, pay-as-you-go model, and marketplace offer flexibility and potential profitability. However, the native token payment, limited backtesting, and smaller communities are drawbacks to consider.

My advice? If you are a novice trader, try the free trial to see if Kryll’s interface and features work for you. Start with simple bots, don’t invest too much initially, and carefully explore the marketplace before diving in. If you are an advanced trader, start trying Finestel’s cutting-edge services.

Evaluating Sentiment on Kryll: What Kryll Trustpilot Reviews Reveal

Kryll.io has rated on a Trustpilot page, where users can share their feedback and ratings. Based on our observation, the overall sentiment of the reviews is positive, with an average rating of 4.5 out of 5 stars. However, there are also some mixed and negative reviews, which point out some issues and areas of improvement.

Here are some key themes that we noticed from the reviews:

• Positive feedback: Many users praised Kryll.io for its features, ease of use, customer support, and performance. Users appreciated the simplicity and power of the platform, the variety and quality of the bots, the responsiveness and helpfulness of the team, and the profitability and reliability of the strategies.
• Negative feedback: Some users criticized Kryll.io for its fees, bugs, downtime, and losses. Users complained about the high fees, the technical glitches, the platform instability, and the poor results of some strategies. Some users also reported difficulties in withdrawing their funds or receiving refunds.

We tried to present a balanced perspective, acknowledging both positive and negative feedback. However, we also recommend that you read the reviews yourself, and form your own opinion.

Kryll on Reddit: Common Challenges and Overall Sentiment

Kryll reviews on Reddit are surprisingly mixed. While many users find it helpful and valuable, especially for beginners due to its intuitive drag-and-drop interface, there are also a significant number who raise concerns about various challenges and limitations.

Common Challenges:

• Learning Curve: While advertised as beginner-friendly, some users find the initial learning curve of building and optimizing strategies steeper than expected. Technical indicators and market analysis can be overwhelming for newcomers.
• Backtesting Limitations: While the backtesting feature exists, some users report inconsistencies and issues with accurately reflecting real-market conditions. Concerns about historical data accuracy and lack of advanced backtesting options arise.
• Limited Exchange Compatibility: Kryll doesn’t cover all popular exchanges, which can be frustrating for users with specific preferences. Integration issues with certain exchanges are also reported.
• Hidden Costs: While Kryll offers a free tier, advanced features and bot scalability require paid subscriptions. Some users feel the pricing structure can be confusing and limit accessibility for smaller investors.
• Unpredictable Market Outcomes: Even with robust strategies, the volatile nature of cryptocurrency markets can lead to losses, and user reviews reflect frustration with Kryll not being a guaranteed profit machine.

Despite these challenges, many users still find Kryll valuable for:

• Automating repetitive tasks: Kryll frees up time by managing trades according to set parameters, allowing users to focus on other aspects of their crypto strategy.
• Strategy building and testing: The platform provides a framework for experimenting with different approaches and learning about technical analysis.
• Community and sharing: The Kryll community offers educational resources, pre-built strategies, and a marketplace for renting and selling bots, which can be helpful for beginners.

What is KRL Token? Kryll’s Native Token Review

The KRL token is an Ethereum token that powers Kryll, a platform for automated trading strategies. Kryll users can browse, create, and backtest trading strategies while using KRL to pay for their activity on the platform. The KRL token is also used to unlock holding levels, which provide discounts and benefits for users who hold a certain amount of KRL in their wallets. Additionally, the KRL token allows users to invest in the project and participate in its governance. The KRL token has a max supply of 49,417,348 and a circulating supply of 38,446,598 as of December 20, 2023.

Kryll Cost and Fees Review: Pay-as-you-go Model

Additional Notes:

• The Kryll pricing model is truly pay-as-you-go. You only pay for the features and bots you use.
• Trading fees are calculated on the equivalent USD value of your invested capital, regardless of the actual currency you’re trading.
• KRL holding rewards can significantly reduce your costs if you plan to use Kryll actively.

A Step-By-Step Guide to Getting Started With Kryll

Here are some steps to get started with Kryll.io:

1. Create an account on Kryll.io and verify your email address.
2. Connect your exchange account via API keys. You can choose from Binance, Bittrex, Liquid, Kucoin, Kraken, and more. Make sure to enable trading permissions and disable withdrawal permissions for your API keys. You can find detailed instructions on how to set up your API keys.
3. Buy some KRL tokens, which are the currency used on the platform to pay for fees, unlock holding levels, and invest in the project. You can buy KRL on [Kucoin], [Liquid], [Uniswap], or [Kryll’s swap feature].
4. Choose a trading mode: you can either create your own strategy using the drag-and-drop editor, rent a strategy from the marketplace, or use the smart trading terminal. You can find more information about each mode.
5. Backtest your strategy or paper trade it to see how it performs on historical or live data. You can adjust the parameters, indicators, and triggers of your strategy to optimize it. You can also use webhooks to integrate external signals from TradingView, Twitter, Telegram, and more.
6. Launch your strategy in live trading mode and monitor your results on the dashboard or the mobile app. You can stop, pause, or edit your strategy at any time. You can also track your portfolio and swap your cryptocurrencies on the platform.

Kryll.io Alternatives: Finestel, 3Commas and Bitsgap

Kryll.io is a popular crypto trading bot platform, but it’s not the only option out there. Three other well-known alternatives are Finestel, 3Commas, and Bitsgap. Let’s take a closer look at these platforms, comparing their key features, tools, strengths, and weaknesses, to help you decide which one is right for you.

Finestel

While Kryll provides an intuitive way for novice crypto traders to dip their toes through its visual editor and beginner-friendly bots, seasoned investors often seek more advanced features and customization. Enter Finestel, an emerging player targeting experienced traders, money managers, and crypto businesses.

Whether you’re a solo act or a full-fledged asset management firm, we offer two distinct paths to unlock your trading potential:

1. Finestel Copy Trading as a Bot: Unleash the Power of Precision Replication

• For: Individual traders, money management teams, and smaller firms
• What it is: A user-friendly copy trading software that lets you mirror the strategies of proven master traders with ease.
• Key benefits:
  • Maximum efficiency and precision: Our cutting-edge bot ensures seamless, near-instantaneous replication of orders.
  • Focus on your expertise: Let Finestel handle the heavy lifting, freeing you to refine your trading strategies.
  • Simple setup: Connect your master and copier exchange accounts in one convenient dashboard.

2. Finestel White Label Social Copy Trading Turnkey: Build Your Branded Trading Empire

• For: Larger asset management businesses, community managers, and crypto educators
• What it is: The ultimate solution for launching your own branded social copy trading platform.
• Key benefits:
  • Professional platform with your brand: Impress your clients and attract serious investors with a tailored experience.
  • Advanced tools and features: Manage portfolios, track performance, run competitions, and more – all under your own banner.
  • Expand your reach and monetize your expertise: Build a thriving community of followers and earn fees from their trading activity.

Beyond the basics: Finestel doesn’t stop there. We offer a suite of powerful features to fuel your trading success:

• Private Strategy Marketplace: Access a curated selection of top-performing trading strategies from elite traders.
• Telegram Bot: Revolutionize your management with automated tasks, reporting, and branding directly in Telegram.
• White-Label Affiliate Program: Build your own multi-level marketing network and reach even more clients.

Ready to unleash your trading potential? Explore Finestel today and find the perfect path to your crypto trading success story.

3Commas

3Commas is a feature-rich platform with a wide range of tools for both beginner and experienced traders. Some of its key features include:

• Smart Trade: Create automated trading bots with a variety of technical indicators and strategies.
• Trailing Stop Loss: Automatically adjust your stop-loss orders to maximize profits.
• DCA (Dollar-Cost Averaging): Invest a fixed amount of money into a cryptocurrency at regular intervals to reduce the impact of volatility.
• Grid Trading: Place buy and sell orders at preset intervals to capture small price movements.
• Paper Trading: Test your trading bots with simulated data before risking real money.

Strengths:

• User-friendly interface
• Wide range of features
• Backtesting and paper trading
• Large community

Weaknesses:

• Can be expensive for advanced users
• Some features can be overwhelming for beginners
• Limited customer support

For more details on 3Commas and its capabilities, please refer to this extensive 3Commas review.

Bitsgap

Bitsgap is a more streamlined platform than 3Commas, focusing on a few core features that are done well. Some of its key features include:

• Automated Bots: Create simple buy and sell bots with a drag-and-drop interface.
• Portfolio Management: Track your investments and performance across multiple exchanges.
• Arbitrage: Take advantage of price discrepancies between different exchanges.
• DCA: Automate regular investments into your favorite cryptocurrencies.
• Trading Signals: Receive buy and sell signals from professional traders.

Strengths:

• Easy to use
• Affordable pricing
• Strong focus on security
• Good customer support

Weaknesses:

• Fewer features than 3Commas
• No backtesting or paper trading
• Limited customization options

Kryll Review: Final Verdict After Taking a Close Look at This Platform

After taking an in-depth look at Kryll across this extensive review, it’s clear this platform aims to make crypto trading more accessible through automation. From its visual editing tools to prebuilt trading bots, Kryll enables both coding experts and complete beginners to systematize their strategies.

While this Kryll review highlighted several solid capabilities, our hands-on experience also revealed areas needing refinement. The learning curve proves steeper than expected for newcomers. And reliance on the native KRL token adds volatility risk.

Still, Kryll delivers convenience and potential profitability for the right crypto trader. Our advice based on this Kryll review – proceed with clear expectations set. Start simple without overinvesting early on. Vet marketplace offerings carefully before launching foreign bots.

No platform promises guaranteed returns in the volatile crypto space. Yet Kryll equips traders to experiment intelligently – backtesting strategies and fine-tuning indicators based on past performance. For swing traders and long-term investors, the minute-based pricing structure also helps limit costs.