My experience of buying Kryll (KRL) and why you should avoid easy to use services like InstaSwap or Indacoin

My experience of buying Kryll (KRL) and why you should avoid easy to use services like InstaSwap or Indacoin

By VNFC | crypto sessions | 3 Jun 2020


Hello guys

I started the tentative of trying the Kryll trading platform to test by myself what are people doing there.

Before making something, it is better to study for a while their tutorials.

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So, the first steps are:

1. make an account on Kryll.io

2. link the account of Kryll with some accounts you have on exchanges like Binance, Kucoin, Kraken, HitBtc or Bittrex

3. buy some KRL:

  • from Liquid - the most "liquid" exchange for Kryll (not too many transactions, by the way, I think the average is about 0.5 BTC/day or HitBTC
  • make a swap with BTC on InstaSwap - 0.0058 BTC (more than 50 USD)
  • buy with credit card on Indacoin - 50 USD

4. choose one of the multiple strategies offered by traders on Marketplace or create one through Kryll tools

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Now, this article was wrote after I tried to see which option for getting KRL is better. You need to know some things that are applicable almost everywhere:

The cheaper things are not finished fast and are not good.

The good things are not cheap or made fast.

The fast works aren't cheap or good.

Let's see the metrics from Coinpaprika about KRL (I will not make a TA regarding the ascending price, but beware of that also)

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According to Coinpaprika (and not only), 1 KRL=0,1137 $ or 1267 sats (the price on Liquid)


Indacoin

So, I tried the faster method: Indacoin. What is simpler than a purchase with the credit card? You fill your data and you get your needs.

But...for 50 USD I will get 338 KRL. That means 38,43 $ if you'll buy from Liquid. You loose 25%.

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One more thing: the minimum purchase value should worth 25$. If you need only 4$ KRL, too bad.


InstaSwap

It is a little more complicated than Indacoin, but not so difficult like making an account on a new exchange, transferring funds, buying KRL with BTC or ETH and transfer KRL to Kryll.io wallet. 

The minimum amount for exchanging BTC to KRL is 0,0056 BTC. that means around 50$ or more (these days), so double amount comparing with Indacoin.

Let's see the parity:

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So, for 0.0056 BTC you get 355 KRL. That means 1 KRL=1577 sats, vs 1267 from Liquid. You loose more than 24%.


Liquid

You should make orders of minimum 50 KRL (5-6 USD now), which is the smallest value vs Indacoin (25$) or InstaSwap (50$).

41d3ae2144c5ebd40ee7190d414a14cb37231ad452f26b160f3d43a175ee0692.png

The pros: the most convenient price.

The cons: more complicated or takes longer to achieve KRL vs the other 2 options.


Conclusions:

If you want to buy fast, you will choose Indacoin for credit card (and minimum amount is 25$) or Instaswap (exchage BTC in KRL - minimum 0.0056 BTC (almost 50$).

If you want to buy in the most honest price, you will choose Liquid, where you will get KRL with 25% cheaper.


VNFC
VNFC

Pragmatic style. Love Science Fiction, Sports, Music and Dance, Travel and Movies. Hit me with AMA and I will try to make a good solution.


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