Coinrule Review 2022: One of the Best Crypto Trading Bots?

Trading cryptocurrency can be very exciting. The idea of constantly monitoring the markets to keep your trading strategy in line is not so exciting.

Some traders have turned to automated trading tools because they are easier to use. Coinrule is one such new crypto-auto trading tool.

Coinrule allows you to create custom trading rules and access 150 templates. You can also take advantage of a variety of moderately priced trading plans. You can backtest your strategies and do paper trading if you’re a beginner crypto trader.

There are different plans available for traders at all levels: the Pro, Hobbyist, Trader, and Starter. Each plan will help you improve your cryptocurrency trading skills. This platform is the best for learning how to trade digital currencies successfully.

Start with a free account today!

What is Coinrule?

Coinrule was established in 2017, with its headquarters in London. Coinrule is a team of blockchain and crypto enthusiasts. They found trading cryptocurrencies to be unnecessarily complex.

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Coinrule was founded with this goal in mind: to make trading cryptocurrency easier. This resulted in Coinrule creating an automated trading platform which can be integrated with a variety of exchanges.

Its goal is to make it easy for you to automate your cryptocurrency trading. This lofty promise seems to be fulfilled. The company raised more than PS500,000 ($700,000.00) through Seedrs in December 2020. This was more then 200% higher than its target.

What does Coinrule do?

Trading bots allow users to execute trading commands on their exchange accounts on their behalf. This can be done using an exchange’s API.

Top exchanges, for example, have APIs.

 The API allows users to execute trades or withdraw funds without having to log in to their exchange accounts. Coinrule is an example of a trading bot that requests permission to execute trades for customers.

Coinrule uses conditional statements to trade, which is a departure from most automated trading systems on the market. The IFTTT model (IF This Then That), allows users to specify a set of actions that will be taken once a condition is met.

Coinrule allows its users to set conditions that will trigger an action on trading accounts. The Coinrule bot will execute the pre-determined action if the condition is met. It is also true that the reverse is true – if the condition does not meet, the action will be cancelled.

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Coinrule Key Features

  • Functionality – Coinrule is a web-based platform. The team chose a simple, clean design that appeals all traders. You can also create trading rules without having to know any code.
  • Technology – The platform integrates with more than 10 exchanges. The team emphasizes that orders are sent to market in a very short time. To improve its service, Coinrule uses SMS notifications and data encryption. Orders typically reach the market in 500 milliseconds.
  • A range of tools – The platform features an easy-to-use, modular rule configuration system that works through simple If/Then prompts. You can make the most out of accumulation, maximization, or contrarian trading strategies like stop-loss, take profits, and buy the dip/breakout.
  • There are a range of plans available. The Starter plan is free and the Hobbyist plan is $29.99 per month. Both offer access to two exchanges. The Trader plan is $59.99 per month and includes access to demo/rules as well as 3 exchanges. You can also trade up to $1 million. The Pro plan is $449.99 per month and includes access to 50 live/demo Rules, unlimited template strategies, and integrated exchanges.
  • Customer Support – The Help Center has a variety of helpful guides and resources that can be accessed via the official blog. You can reach the team via live chat, email or connect via Facebook or Twitter to get answers to common questions.
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Coinrule supported exchanges

Coinrule supports more than ten cryptocurrency exchanges that can be linked through API integration. These include:

Coinrule vs. other crypto trading bots

Coinrule is not the only one offering similar products. Coinrule allows you to connect to multiple exchanges, which is a departure from most of its competitors. This is a great feature if you are looking to buy cryptocurrencies or just want the best transaction rate.

The platform is also unique because of the extensive educational tools it offers to improve your trading skills.

How can you open a Coinrule Account?

Are you ready to trade with Coinrule here are the steps to get started.

Visit the Coinrule website to choose the plan that you would like to work with: Starter, Hobbyist or Trader. You will be asked to create a new account using your email address and a password.

Once you have your account set up, it’s possible to create trading rules. You will need to connect Coinrule with one of the exchanges before you can start implementing the rules.

Coinrule will then take care of all the technical aspects involved in your trading strategy. You’ll still be able to change rules via your Coinrule account.

Start with a free account today!

Safety and security features of Coinrule

These are the security precautions that Coinrule has implemented within its service.

  • Secure login and authentication – Coinrule uses Ukey1’s secure login service for their users to store and verify their login information. UKey1 employs advanced security algorithms for hashing login passwords and encryption of personal data.
  • First, Coinrule doesn’t support API keys that have withdrawal permission enabled. The secret keys and API are encrypted with 256bit AES encryption, and TLS1.2 (and higher) encryption standards.
  • DDoS-proof: A DDoS attack (distributed Denial-of-Service) is when a malicious party uses an army hijacked computer system to overthrow a targeted website’s server with resource requests. This can often lead to websites going offline. To avoid such attacks, Coinrule has partnered up with Cloudflare CDN.
  • Payment processing – Extra precautions are taken when processing customers’ package subscriptions. Stripe is used instead of accepting payments directly. Stripe also marks transactions as Merchant-Initiated Transactions, (MITs), which eliminates the need for customers to provide personally identifiable information (PII).
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Review of Coinrule: Conclusion – Should You Try It?

There are many fake crypto trading bots. It is difficult to find trustworthy and proven crypto trading robots. Coinrule is one crypto trading bot that delivers on its promises.

The platform integrates with many leading crypto exchanges like Binance, Coinbase Pro and Kraken. This should appeal to traders because these exchanges offer high liquidity and a large range of coins to trade.

Coinrule is easy to use but has potential for improvement. Advanced users might be interested in deploying a wider variety of TA-based strategies than the RSI or Moving Averages currently available.

Start with a free account today!

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