In this post I will be reviewing Coinrule, a cryptocurrency service that offers a range of crypto robots for automated trading. Coinrule is a user-friendly platform that enables users to create and send automated trading algorithms to their preferred crypto exchanges. They are integrated with some of the most popular crypto brokers and exchanges including Binance and Coinbase. In this Coinrule Review, we will cover what it is and how it works, along with some of the more prominent features of the software. Hopefully this will help to give you an idea if it is something in which you would find beneficial including within your daily trading routine. Let’s get right to it!
What is Coinrule?
Coinrule lets traders develop custom crypto robots that can automate trading strategies for the cryptocurrency market. It opens up the market to investors and traders who may not have the time or knowledge to keep track of the crypto market and place or manage positions. The company was founded in 2018 and is headquartered in London, England.
Coinrule users can choose to follow one of the platform’s 10,000 predesigned trading strategies or develop their own trading algorithms based on a unique set of entry and exit rules. You can create rules that use chart analysis along with all the money management features that you would expect such as position size, stop loss, take profit and more.
With Coinrule, you don’t need any specific programming skills in order to develop complex automated trading systems. This makes it accessible to traders of all experience levels. They have plenty of trading rules to choose from which can be set to run as fast as every minute and execute within seconds. New indicators are added every week and announced on the Coinrule blog.
That being said, it is important to mentioned that there are no guarantees on how god or bad any trading robot will perform. Anything can happen in the financial markets, especially cryptocurrency market which is well known to be very volatile.
Even if you see a crypto bot that has had great results in the past, that doesn’t mean that it will moving forward. No automated system or manual system for that matter can predict what will happen in the future with complete uncertainty. Just make sure that you are aware of all the risks and do not trade more than you can afford to lose.
How does Coinrule work?
Coinrule is a cryptocurrency trading platform that sends automated trading instructions to exchanges. You can connect it to your choice of exchange and setup crypto robots that can analyse the markets and trade on your behalf. There is no complex coding required.
All you need to do is to connect your exchange to Coinrule via an API connection. They provide in-depth and easy to follow guides on the website that can help to guide you through the process without any issue. You can also reach out to the support team should you get stuck at any point during the process and they will be happy to help you.
Coinrule is considered to be a diverse automated system for trading because it adds automation across 10+ investment platforms. This is compared to some other crypto robots that are tied to one or a few exchanges at most. You can even receive free trading signals, create automated rules and manage your portfolio for free.
One of the main goals of the Coinrule development team is to try and help empower cryptocurrency traders all over the world to compete with the very best algorithmic traders and hedge funds.
Who are the Coinrule founders?
Coinrule was created by a team of blockchain and crypto enthusiasts who believed that cryptocurrency trading was made unnecessarily complicated. They all have experience with building companies and come from different backgrounds including banking, UX Design and tech. They are strong believers in the many possibilities that crypto technology brings for a much fairer and greater decentralization of wealth and power. They are committed to crypto traders and the wider Blockchain community as a whole.
By now you should have an understand of how it works, so let’s take a look at some of the key features of the Coinrule platform:
- Connect to multiple crypto exchanges and brokers
- Create your very own customised crypto trading robots
- Trade with multiple rules simultaneously
- Access 150+ new template strategies
- Test your crypto strategies over historical data to see how they may have performed
- Plenty of helpful tutorials to help you along your journey
- Free option which allows you to test the platform and some features
What are the advantages of Coinrule?
Coinrule enable anyone to build their very own automatic trading strategies based on the “If-This-Then-That” principles without requiring any coding skill. You can quickly and easily build crypto robots through an intuitive and modern interface. These rules that you create will run 24/7 via your own choice of crypto exchanges which can help to improve the efficiency of your portfolio management. Coinrule even allows users to backtest the trading rules and strategies that they develop prior to launching them. All in all, they make it as simple as it gets to implement different automated trading strategies that can meet the needs of all types of trader from all backgrounds.
How much does Coinrule cost?
Coinrule can actually be used for free by those who are trading less than $3,000 a month while more active traders could potentially pay up to $500 a month. The Coinrule free version has no time limitations although there are some restrictions in terms of the maximum number of active rules that you can use in your strategies and some other feature constraints. For example, technical indicators are only available on paid subscriptions.
You can see the available paid packages below. Keep in mind that each has a monthly charge along with a cost based on a percentage of traded volume. You can cancel your subscription at any time but you will then lose access to all of the automated strategies that you have created. Coinrule only charges the client a subscription fee for the plan they are using. Any additional fees that are applicable will come from the connected crypto exchange.
- Hobbyist: $29.99 per month
- Trader: $59.99 per month
- Pro: $449.99 per month
Personally, if I was to develop my own crypto robots via Coinrule, I would look at one of the paid options as I believe it is worth having the additional features to be able to develop more complete trading systems. I wouldn’t want to be restricted as that could have a negative impact on the trading results of a particular strategy.
Is it safe to use Coinrule?
Coinrule is not actually a crypto exchange itself. Rather, the automated trading rules that you choose to implement within your Coinrule robots will be sent out to the crypto exchanges that you choose to do connect with it. As mentioned earlier in this review, Coinrule can be connected with 10+ of the most well-known cryptocurrency exchanges out there.
Coinrule uses advanced security protocols to help ensure maximum protection of all trader’s API keys. They store these API private keys on separated data storages and encrypt them with AES-256 standard. A Cloudflare protection helps to deliver an additional layer of security against the potential risk of DDoS and attacks of different nature.
Most importantly, Coinrule does not accept API keys which have withdrawal right permissions. That represents an additional layer of protection on the user side as there is no risk for the funds to be stolen in case of a malicious attack. They won’t ask you for private keys or withdrawal rights.
Putting this Coinrule Review together, this is an innovative and useful crypto software that lets you automate your investments across multiple crypto platforms without needing to complete any complicated lines of code. Regardless of your market analysis and trading skills, you can create crypto robots that trade while you sleep. Users can even choose from 150+ trading strategies that have already been developed, with information and stats to back them up.
I would put this cryptocurrency robot up there with some other popular automated crypto trading platforms such as Quadency, Shrimpy, Zignaly, CryptoHero, Mudrex, Centobot, 3Commas, Trality, Bitsgap, Cornix, ProfitTrailer, HaasOnline, Gunbot, Cryptohopper, Trade Santa, Stoic and Pionex.
I believe that Coinrule stands out from some of their competitors such as it is intuitive and simple to set up. Just remember, crypto robots do not guarantee results no matter how good they may have performed historically speaking.
- Automated crypto trading
- Customised crypto robots
- Connect to 10+ crypto exchanges
- 150+ strategy templates
- Free option
- Backtest crypto strategies
- Tutorial guides
- Trade with multiple rules simultaneously
- Easy to use
- Flexible payment options
- Limited crypto exchanges supported
- Not as many features as some of the competing crypto trading bots
- The highest Coinrule tier is extremely expensive
- Quite complex to setup
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.