Coinrule is an automated crypto trading platform that claims to let regular individuals compete with seasoned professionals and hedge funds. It has been featured on multiple media outlets like Yahoo! Finance, Business Insider, Combinator, Forbes, and TechCrunch. It supports over 10 exchanges and is capable of trading 24/7.
This company is based in Clerkenwell, England. It was founded in 2017, and over the past few years, it has evolved into one of the in-demand apps in the Blockchain environment. The key members of the team include CEO Gabriele Musella, COO Oleg Giberstein, CIO Zdenek Hofler, and CTO Andrew Salvadore.
Coinrule quick summary
Let’s look at the key features of this platform:
- Historical data-based rule performance testing
- More than 150 trading rules
- No withdrawal rights
- Trigger actions based on market shifts
- Volatility management
- Multiple supported exchanges
- Transparent company
What does Coinrule offer?
After signing up on the official website, you need to connect to your exchange using an API key. After that, you can start creating bots and placing trades. The first step is to decide when the algorithm executes an action. You need to define a trigger condition for the bot to place an order.
It is possible to program the robot to send recurring orders at a specific interval. You can also define your own conditions for sending an order. The trader has the option to choose specific coins and indicators like price, volume, market cap, RSI, and Moving Averages.
Coinrule and several long and short-term strategies you can take advantage of. Some of them include Contrarian, Trend Following, and Accumulation. You can also mitigate losses by implementing risk management strategies. This system lets you easily implement a defensive strategy that immediately sells a portion of your portfolio in case of a sudden market drawdown.
This platform has been covered by several reliable media sources. Also, it has high ratings on third-party websites.
What crypto exchanges are supported?
The supported exchanges include:
- Coinbase Pro
- Bitpanda Pro
This platform has a free plan and three paid plans. With the paid plans, you get a greater number of live and demo rules, connecting exchanges, and template strategies. The prices for the Hobbyist, Trader, and Pro plans are $29.99/month, $59.99/month, and $449.99/month, respectively.
Security and privacy of Coinrule
The system stores API in encrypted form with dedicated private keys for each user. These keys are stored in encrypted data storage centers. For protection against DDoS and other types of attacks, it uses Cloudflare.
Are traders happy with Coinrule?
On Trustpilot, Coinrule has a rating of 4.1 out of 5 based on 64 reviews. Users have praised the multiple strategies and the customer support.
Profitability of Coinrule
There are a number of different conditions affecting profitability such as trading strategy, market conditions, and risk management principles.
Deposits, withdrawals and fees
This platform does not have permission to deposit or withdraw funds. Apart from the subscription fees, there are no additional charges.
Advantages of Coinrule
Let’s look at the advantages:
On this platform, you can backtest your strategies based on historical data. You need to select the strategy, the initial investment, and the length of investment, after which the tester will show you the results.
Large number of trading rules
With over 150 trading rules, this platform is suitable for different trading styles. You can also build your own rule with custom triggers.
This is one of the few crypto platforms where you can get started for free. The free plan comes with 2 live rules, 2 demo rules, and 7 template strategies.
Disadvantages of Coinrule
The disadvantages are as follows:
Limited technical and fundamental indicators
There are only a few indicators you can use on this platform. This means your options are limited when it comes to building strategies.
No support for DEXs
This platform only supports centralized exchanges. Thus, it is not suitable for those who wish to conduct trades anonymously through DEX platforms.