In the previous article, I talked about Kryll platform. In this article I'm going to explain what you need to setup in order to run a bot.

I strongly suggest you read my previous article, especially as Kryll referral can save you some fees!
https://kryll.io/?ref=5f497124a18f641c2ec65f50

KRL tokens for fuel for your bot strategies

First, all live bots consume KRL tokens. Kryll, the platform, consumes 1% of your holdings for your strategy (in USD) each month, as KRL tokens (whose price changes over time). Next, if you use a strategy available from the marketplace, its developer will charge on top of that another percentage (with a max of 1%).

I won't cover Kryll holding program, but know that if you stake some KRL you can get rebates.
More information is available on Kryll pricing page.

There are multiple ways to buy some KRL. The easiest one is to buy some with your credit card through IndaCoin but I strongly suggest to do it differently!
First, IndaCoin charges a lot and you'll get way less KRL tokens for your USD than using other alternatives.
Next, IndaCoin is not really great from a UX point of view as you're doing purchases through your mobile number and they don't really send emails about those purchases. Finally, you'll most likely have to go through their KYC process just after your purchase and it was quite expected but a surprise as well, the way they do it.
You'll find an article on Kryll's blog explaining how to buy some KRL through IndaCoin.

One more thing to know is that Kryll itself needs a bit of time to acknowledge the deposit of KRL.
When I did this the first time, I was wondering if those KRL tokens were lost!
It can take up to 30/60 minutes.

If you are going to buy some KRL with a credit card, it is more cost-effective to go through Liquid.com.
I suggest, if you don't have already an account, to create one and go through the KYC process as soon as possible so that you don't have to wait for KYC approval when you are ready to buy KRL tokens.

Kryll has documented the process on how to buy KRL tokens by credit card through Liquid, but it basically involves a credit card transaction at which point you end up having KRL tokens on your Liquid account that you need to send to your Kryll KRL wallet. Each step involve fees: credit card fees and transfer fees.

Still, this is less expansive than doing it with IndaCoin!
Obviously if you can avoid credit card fees by trading some other tokens, it will be even better.

Exchange connection with Kryll

Before you run a bot, it needs to be able to place trading orders on your behalf on the exchange.

I will discuss about Binance here, but Kryll works with other exchanges as well.

Like I said in the previous article, it is highly suggested to create another Binance account, at least for two reasons:

• You ensure that Kryll won't have any access to other assets/tokens you are not using with bots,
• You can get 20% trading fees kickback on Binance using this referral link as explained on Kryll's blog. This only works with a new account.

So now that your Binance account is setup, you need to create an API client and give some information to Kryll about it.
Their blog article is pretty good, so I won't go into details here: https://blog.kryll.io/how-to-add-your-binance-api-key-to-your-kryll-io-dashboard/

Transfer funds in your trading bots account

As I'll explain how to start a Maya strategy from Kryll's market place on a ETH/USDT pair, you'll need to transfer some USDT from your main account to your trading bots account.

Kryll will never be able to withdraw your assets. They are always on your Binance account!

Internal transfers between two Binance accounts are fee, although the UX is not great. Let's assume that you're going to start with 200 $USDT.
When you transfer those 200 $USDT from your main account to your trading bots account, Binance will tell you that there is some fees.
Those fees will be kept in your main account! So again, there is actually no fee!

But, if you send 200 $USDT, Binance will actually transfer 200 $USDT minus the fees.
So you need to make sure that the amount you transfer will be 200 $USDT fees deduced.

Start a bot strategy

So now you are almost ready. You have some KRL tokens, you have at least 200 $USDT and you have setup Kryll connection to your exchange.

I'm going to explain now how to start Maya V8 strategy (available on the marketplace).

You can see that this marketplace strategy costs 0.77% on top of Kryll's 1%.

Before we launch that strategy, you ran back-tests as explained in my previous article, right?
Those back-tests were run with the same amount of $USDT too?
This is important as most strategies don't do full buy in orders and Binance requires a transaction to be at least $10.
Some strategies when run without enough funds will log many "Sell order skipped" and if 10 of those happen in a row, your strategy will stop!

That being said, click on the Launch button. A popup will appear:

Now you need to fill in your initial wallet amounts. As explained in my previous article, it is almost always safer to start in full USDT here.
So choose 200 $USDT and you can start with 50 KRL for this strategy. You can later on refill your strategy when starting to run low on KRL tokens.

Ensure that you are on Livetrading (default value) and not simulation otherwise no trading order with be placed on the exchange!

Great, your trading bot is running and you should find it in your Kryll dashboard!

In the next article, I'll show you the result of this Maya strategy that I started at the end of August.

Stay tuned!