Coinrule lets users create customizable trading rules. They have access to 150 templates and can take advantage of many moderately priced plans. To test your strategy, you can also do paper trading.
There are four levels of plans: Starter, Hobbyist (Trader), Pro and Professional. Each plan will help to increase your knowledge and skills in cryptocurrency trading. The platform is great for learning how crypto traders can succeed in trading digital currency.
Automate your crypto trades with Coinrule
What is Coinrule and how can it help you?
Coinrule was founded with its headquarters based in London in 2017. Coinrule’s team is made up of blockchain and cryptocurrency enthusiasts who believe trading cryptocurrencies can be simplified.
The service’s purpose is to allow you to trade cryptocurrency on autopilot. This is a lofty promise that the service seems to keep. The company raised over 500,000 EUR ($700,000.00 in Seedrs funding in December 2020. This was more than 200% beyond its target.
What is Coinrule?
Trading bots make it possible to execute trading commands in a user’s account. They can do so using the exchange’s API.
APIs are available at top exchanges. APIs enable users to perform trades and withdraw funds without the need for logging into their exchange accounts. Coinrule is an example trading bot and would request permission from the customer to execute such trades.
Coinrule utilizes conditional statements with the IFTTT model, rather than the majority of automated trading systems available on the market. The IFTTT(IF This Then THAT) model allows a user the ability to describe a specific set of actions to take once a particular condition has been met.
Coinrule allows users to define conditions that trigger trading account actions. If the condition is met, Coinrule’s bot will execute a predetermined act. Also, the reverse is true: if the condition isn’t met, the action will not take place.
Coinrule Key Features
- Functionality – Coinrule is a web based trading platform. The team decided to create a clean and simple design that appeals both to novice traders as well as experienced traders. It also makes it easy to create trading “rules” from scratch.
- Technology – The platform is integrated with over 10 exchanges. The team stresses that all orders are sent directly to the market with the minimum delay. Coinrule’s orders usually reach the market within 500 milliseconds. To enhance its service, Coinrule employs SMS notifications and data encryption.
- Multiple Tools – The platform has an easy-to use, modular rule system. This works by simple If/Then prompts. Popular trading strategies such stop-loss/take profit and buy the breakout can all be used to benefit from contrarian, maximization, accumulation and other methods.
- Variety of Plans – Sign up for a Starter account to get the service free, and for $29.99/month you will have access to 2 exchanges. The Trader plan costs $59.99 per month. This includes access to demo/rules on three exchanges and the possibility to trade upto $1 mil. The Pro plan costs $449.99/month and offers access to 50 live/demo guidelines, unlimited template strategies and integrated Exchanges.
- Customer Support – The Help Center offers a range of resources and guides that are useful. It is also supported by the blog. They can also answer common questions through their FAQ section.
Coinrule supported exchanges
Coinrule currently supports more than 10 popular cryptocurrency exchanges. These can be linked via API integration. These include:
Coinrule vs. Other crypto trading bots
Coinrule has many competitors offering similar products. Coinrule connects to many exchanges unlike most of its rivals. This is great if your goal is to purchase cryptocurrencies in the future or to get the best rates for transactions.
The platform also stands out for its extensive education tools that will help you to improve your trading skills.
How do you open an account at Coinrule?
Ready to trade Coinrule Here’s how it works.
First, visit Coinrule and choose which plan you want to use – Hobbyist, Starter or Pro. After that, you will need to create an email account and choose a password.
Once your account is established, you will be able create trading rules. Before you can begin implementing the rules you will need to connect Coinrule and one of the available exchanges.
Coinrule will manage your trading strategy from that point onwards. You can change your rules at any time through your Coinrule accounts.
Safety features and security features are provided by Coinrule
Here are the security features that Coinrule has implemented in its service.
- Secure login and verification – Coinrule uses Ukey1’s secured login service to store their users’ login information. UKey1 uses sophisticated security algorithms to hash login passwords, and encrypt personal information.
- API key management: First, Coinrule is not able to support API keys with withdrawal authorization enabled. The API keys and secret keys are encrypted using 256bit AES encryption along with TLS1.2 (and greater) encryption standards.
- DDoSproof – A DDoS (distributed-denial-of service) attack is one in which a malicious party exploits an army of hijacked computers to overwhelm a website’s servers by sending resource requests. This can sometimes lead to a website going offline. Coinrule partnered with Cloudflare CDN services to avoid such an attack.
- Payment processing – extra caution is taken when processing the package subscription from its customers. Stripe is used to accept payments. Stripe allows transactions to be marked Merchant-Initiated Transactions. This avoids the customer from having to supply any personally identifiable information.
Coinrule Review: Conclusion. Should you give it a try?
There are hundreds upon hundreds of fraudulent crypto trading softwares. It’s not easy to find trusted crypto trading bots. Coinrule, one of the few crypto-trading bots that actually delivers, is Coinrule.
The platform provides good exchange support. It integrates with a number of major crypto exchanges including Binance, Coinbase Pro Kraken, Kraken, BitMEX, and Kraken. This will appeal to traders as these exchanges offer good liquidity levels and a wide variety of coins to exchange.
Coinrule can be as simple as it is, but Coinrule has much to learn. More advanced users may be interested to explore other TA-based strategies, such as the Moving Averages and RSI.