Kryll is a cryptocurrency service that boasts a powerful strategy editor that enables users to create their strategies. This platform supports several exchanges with the vendor claiming that more exchanges are regularly added. The vendor states that this is a flow-based intuitive service offering automated strategies for trading. We could not find the location info or phone number for the vendor. Customer support is through the Telegram group, the Kryll community link, and Twitter. The lack of information on the vendor raises doubts regarding the reliability.
As a crypto service offering ease of trading, this platform provides the following features:
- An advanced and comprehensive trading tool for profitable trades
- The cloud-based platform operates 24/7 even when your computer is turned off
- Integrated Tradingview feature allows easy technical analysis
- The strategies can be tested on the platform without any restrictions
You can use your smartphone or tablet to use the services of the platform. The dedicated app provides notifications on the buy and sell orders. You can manage the strategies you have chosen and check the results from your phone.
The idea behind Kryll
This crypto service has been formed with the objective of making crypto trading easy and profitable. Users of the platform can create their trading approach using the strategy editor feature and backtest them. The official website does not provide info on the founding year or the location. As per the info on the Crunchbase website, the company was founded in 2017 and is based in France.
As per the vendor info, the team members include Luca Benevolo, the CEO and Founder, and Philippe Longere, the co-founder. While Benevolo has more than 12 years of experience in the IT industry and is a crypto enthusiast, Longere has 17 years of entrepreneurship experience and has developed crypto bots since 2016.
Other team members include Paul Collorafi, Francis Prat, Fabien Mabon, Jay Salvat, Matthieu Gris, Terrence De Granier, and Jeremy Blot. The expertise and experience of each of the members are listed under their image along with their LinkedIn contact link.
Safety of Kryll and the network
As per the company info, users need not have API rights for withdrawal as the service links directly to the exchanges. We could not find further info on the security measures this company uses for ensuring safe transactions and privacy of user data. The lack of info makes us suspect this is not a reliable service.
For using the services of this crypto platform, you are charged on a pay-per-use basis. For a month’s use,the company charges 1% of the traded capital. Free and unlimited backtests are part of the package offer. The vendor claims that the backtests provide accurate data.
While creating the strategies and backtesting them are free, you need to pay a fee when you execute the strategy and trade. Using the KRL token of the company is required for accessing the strategies. This makes it necessary for users to buy the token, which can be a big drawback, as the token is not available in all exchanges. The fee structure is shown in the screenshot below.
As seen in the above images, the company charges a 0.33% fee per day for the amount you invest. Users who have a specific amount of KRL get some concessions. For instance, let us assume you trade $5000 along with a KRL holding package. You can save 15% on the fees as shown in the image above.
We could not find user reviews for this company on reputed third-party sites like Trustpilot. While the vendor provides testimonials on the official site, the chances of the feedback being manipulated are high. With unbiased feedback, we can get a candid view of the service and its efficacy. The lack of reviews makes us suspect this is not a reliable or popular platform.
Is Kryll a legit investment service?
From our evaluation of the features, performance, support, security, and other characteristics of this company we do not find it trustworthy.
Our verdictOur verdict
- Fully automated crypto trading software
- Supports many exchanges
- No proven track record
- Users need KRL token for using the service
- The pricing package is difficult to understand
- Insufficient security features