Kryll Coin: A Wise Investment Decision Or Not?

With the recent surge in the popularity of cryptocurrencies, many people are looking to invest in new currencies. One such currency is Kryll, also known as KRL. Launched in 2018 by a France-based team, Kryll is a platform for automated trading strategies that aims to simplify the process of creating and executing them. It provides a 'zero dev skill' platform where users can build crypto trading strategies through a drag-and-drop editor. The KRL token, the platform's native cryptocurrency, is used to run these strategies. As of January 2024, the price of Kryll is about $1.69 with a 24-hour trading volume of $25,442,380. In the past week, the price of Kryll has gone up by 110.65%. So, is Kryll a good investment? Let's find out.

Kryll's current market performance

As of 1 August 2024, the price of Kryll is $0.42 per KRL with a 24-hour trading volume of $56,280. The circulating supply of Kryll is 38 million, and its market cap is $16.16 million. The price of Kryll has decreased by 0.43% in the last hour, 0.94% in the past 24 hours, and 0.51% in the past week. In the past 24 hours, 75% of Coinbase customers have increased their net position in Kryll.

On 28 June 2024, the price of Kryll was $0.463, with a 24-hour trading volume of $80,572.59. The circulating supply of Kryll was 38.45 million, and its market cap was $16.18 million.

On 13 July 2024, a review on CaptainAltcoin.com described Kryll as a "notable platform in the cryptocurrency trading sector". The review praised Kryll's user-friendly visual editor, diverse marketplace, and efficient backtesting feature. At the time, Kryll was supported on major exchange platforms, including Coinbase, HitBTC, KuCoin, and Liquid.

On 9 May 2023, the price of Kryll was $1.69, with a 24-hour trading volume of $25,442,380. The circulating supply of Kryll was 35.33 million, and its market cap was $58.59 million. In the past week, the price of Kryll had increased by 110.65%.

On a Reddit thread from 31 October 2023, users debated whether Kryll was a good investment. Some users felt that Kryll had potential due to its low market cap and circulation supply. Others were more cautious, arguing that the total coin supply doesn't mean much, and that it's important to consider the fundamentals and use case of the coin.

The pros and cons of investing in Kryll

Pros

• Kryll is a platform for automated trading strategies that can be created and executed without any programming knowledge.
• It has a user-friendly interface and an extensive help section.
• It offers a range of features designed to enhance the trading experience of both novice and experienced traders.
• It supports a wide range of coins and exchanges.
• It is available on all major crypto exchanges.
• It has a strong community of users.
• It has a low market cap and a positive reputation in the marketplace.
• It has been introduced on Coinbase, which will likely boost its growth and popularity.
• It has a native token, KRL, which can be used for making payments on the platform.
• It has a good team behind the project.
• It has been predicted to be a profitable investment option in the long term.

Cons

• It is a highly volatile and uncertain investment option.
• The fee structure is a bit complex, and users need to purchase KRL tokens to fund their strategies.
• KRL is only available on a few niche exchanges, which can be inconvenient for some users.
• There is a risk of loss, and investors should only invest if they are willing to bear any potential losses.
• It has a low circulating supply, which may impact its potential for growth.

How to buy Kryll

As of August 2024, the live price of Kryll is $0.37 per KRL, with a 24-hour trading volume of $127,040.49. The current market cap is $14.13 million.

There are several ways to buy Kryll. Here is a step-by-step guide on how to purchase it:

Find a Reliable Exchange

Locate a reliable centralized exchange where you can buy Kryll, such as Coinbase, Bybit, Crypto.com Exchange, Gate.io, KuCoin, or HitBTC. You can refer to CoinMarketCap's Markets section to find a list of centralized exchanges where the coin is listed.

Use a Decentralized Exchange (Optional)

Another option is to use a decentralized exchange (DEX). This guide will show you how to buy Kryll by connecting your crypto wallet to a DEX and using your chosen exchange account to buy the base currency.

Download a Trust Wallet

There are several crypto wallets to choose from within the Ethereum network, and Trust Wallet appears to be the most integrated. You can download Google Chrome and the wallet Chrome extension if using a desktop computer. If you prefer to use your mobile phone, you can download the wallet via Google Play or the iOS App Store. Ensure that you are downloading the official extensions and mobile apps by visiting the Trust Wallet website.

Set Up Your Trust Wallet

Register and set up your crypto wallet via the wallet's Google Chrome extension or the mobile app. Keep your seed phrase safe, and take note of your wallet address, as you will need it for the next steps.

Buy ETH as Your Base Currency

Log in to your chosen exchange account and proceed to the Crypto webpage to buy ETH (if you do not already own some).

Send ETH From the Exchange to Your Crypto Wallet

After purchasing your ETH, go to your exchange wallet section and look for the ETH you purchased. Click "withdraw" and fill in the required information. Set the network to Ethereum, provide your wallet address, and the amount you want to transfer. Click the withdraw button and wait for your ETH to appear in your Trust Wallet.

Choose a Decentralized Exchange (if you haven't already)

There are several DEXs to choose from; just ensure that the wallet you selected in Step 3 is supported by the exchange. For example, if you use Trust Wallet, you can go to 1inch to make the transaction.

Connect Your Trust Wallet to the DEX

Connect your Trust Wallet to the DEX by using the wallet address from Step 3.

Trade Your ETH for KRL

Select your ETH as the payment and choose KRL as the coin you want to acquire.

Find the Smart Contract (if KRL doesn't appear)

If KRL does not appear on the DEX, refer to https://etherscan.io/ and find the smart contract address. Copy and paste it into 1inch. Be aware of scams and ensure you have the official contract address.

Once you have completed the above steps, your crypto transaction is complete.

Additional Information

• Kryll is an Ethereum token that powers a platform for automated trading strategies.
• It was launched in 2018 by a team based in France.
• The platform includes a marketplace where users can choose from a variety of strategies created by other users.
• The KRL token is the platform's native cryptocurrency and is used to run these strategies.
• The platform operates on the cloud, enabling strategies to run continuously.
• Users can create their own trading strategies without any programming knowledge through a visual editor that supports complex technical indicators.
• The fees for using Kryll are highly reasonable but a bit complicated to understand. Kryll charges 0.0333% per day, based on the total amount of funds invested in a respective strategy. There are discounts if you hold a certain amount of KRL.
• Before investing, it is important to understand that the cryptocurrency market is highly volatile and uncertain.

The history of Kryll

Kryll, also known as KRL, is a cryptocurrency platform that was launched on February 7, 2018, by a team based in France. The platform was created with the aim of simplifying the process of creating and executing automated trading strategies. In other words, as per the official website, Kryll.io describes itself as a 'zero dev skill' strategies-building platform that is automated in nature.

At the time of its launch, the platform allowed users to browse, create, and run strategies for crypto trading on the cloud 24/7, with the help of a drag-and-drop editor while being able to use KRL, the platform's native utility token, to make payments for their activity.

Over the years, Kryll has continued to evolve, adding new features and tools to enhance the user experience and provide a platform for crypto trading. Notably, the platform now includes a marketplace where users can choose from hundreds of strategies created by the community. The KRL token is used to run these strategies, and users can also rent out their own strategies to other users in exchange for KRL tokens.

In early March, Kryll entered a deal of cooperation with Spectre.ai (Speculative Tokenized Trading Exchange), the world’s first broker-less and fraud-free trading platform that uses unique smart contract technology built on the Ethereum blockchain. The plan was to incorporate Spectre.ai's existing technology with that of Kryll's. This partnership was viewed very positively by users.

On February 7, 2021, Kryll celebrated its third anniversary. By this time, the platform had gained traction among the crypto community and obtained a certain level of reverence among its users. The platform had also earned positive reviews from both its users and professional critics.

Since its launch, Kryll has been introduced on Coinbase, one of the largest cryptocurrency exchanges across the globe. This is likely to provide a significant boost to the platform's overall growth and popularity.

The future of Kryll

Recent Performance

Kryll has witnessed a surge in its value over the past year. As of July-August 2024, the price of Kryll is around $0.42-$0.46 per KRL, with a market cap of $16 million. In the past 24 hours, the trading volume of Kryll is approximately $56,000-$80,000. While the price has decreased slightly in the last hour and the past week, the overall trend shows an increase in value.

Market Presence

Kryll has been listed on Coinbase, one of the largest cryptocurrency exchanges globally. This is expected to boost its growth and popularity. Additionally, it is supported on other major exchange platforms. The platform is also integrated with major exchanges like Binance and Bittrex, with more integrations in the works.

User-Friendly Features

Kryll offers a user-friendly interface, making it accessible to both new and experienced traders. It provides a visual editor that allows traders to design their own trading strategies without requiring any coding knowledge. The platform also has an extensive help section and a strong community of users to support newcomers.

Trading Strategies

Kryll provides a wide range of trading strategies created by the community, catering to diverse trading preferences. The platform's 'zero dev skill' approach enables users to build crypto trading strategies through a simple drag-and-drop editor. The cloud-based nature of the platform allows strategies to run continuously, benefiting users who want to automate their trading.

Token Utility

The KRL token, the platform's native cryptocurrency, has multiple use cases. It is used to run trading strategies, make payments for activities on the platform, and compensate experienced traders who share their strategies.

Team and Support

The team behind Kryll includes veteran developers and internet professionals, as well as advisors from various fields. The platform also offers customer support via live chat and an FAQ section.

Predictions and Outlook

Wallet Investor predicts a positive long-term increase for Kryll, forecasting that the price could reach $1.63 by June 2029, representing a potential five-year investment return of +251.4%. Other sources also indicate the potential for the token's value to increase, with one source stating, "it could go so much higher."

In conclusion, the future of Kryll appears bright, with its user-friendly platform, diverse trading strategies, growing market presence, and positive price predictions. However, it is important to remember that the cryptocurrency market is highly volatile and subject to risks, so investors should carefully consider their decisions and be prepared for potential losses.

Frequently asked questions