Review of Coinrule crypto trading bot platform with pricing. Coinrule allows users to quickly automate advanced trading strategies with its intuitive user interface to gain more profits:
This is besides supporting multiple types of crypto trading bots. While each strategy can be easily back-tested on Trading View, users can try out each bot and strategy with the basic subscription package, which is free but offers limited bot templates.
With the integration of 14 cryptocurrency exchanges via APIs, it offers a basic free version, integrates Trading View, and is usable over the web without having to download software. Coinrule is rated highly positive by customers.
Table of Contents:
- Coinrule Cryptocurrency Trading Bot: Is It Legit
- Coinrule as a Company
- Products and Features Overview
- Coinrule Review
- How to Create a Crypto Trading Bot Using Coinrule
- Creating Strategies for Your Bots on Coinrule
- How Coinrule Works
- Pros and Cons
- Coinrule Safety & Security of Funds and Accounts
- Customer Support
- Pricing and Fees
- Coinrule Alternatives
- Frequently Asked Questions
- Conclusion
Coinrule Cryptocurrency Trading Bot: Is It Legit
Coinrule as a Company
Coinrule publishes its roadmap regularly on its website, is a crowdfunded company, and has been featured on Tech Crunch and Forbes. It is also highly rated among customers with a 4.2/5 score from 103 Trust Pilot ratings. 76% of reviewers have given it a 5/5 rating.
Date Launched: 2017
Employees: 11-50
Headquarters and Locations: Clerkenwell, England
Revenue: <$ 5million
Products and Features Overview
- Crypto trading bots.
- Strategies marketplace: You can follow signal providers and utilize their trading strategies at a cost.
- Back-test any strategy for free to see how it fairs before application.
- Automated technical analysis: Bots perform automated technical analysis based on the pre-set indicators.
- One-to-one trading lessons
- Demo trading
- Example strategies
Coinrule Review
Coinrule lists several bots available as templates based on different indicators and customizable as per customer’s liking. They include Best Coin of the Day to accumulate and ride the trend of the best-performing coin daily, Bollinger Bands bot which uses signals from Bollinger Bands and Aroon indicators, and best Buy Coin bot which buys more of the outperforming coin in the market.
Grid Bots: Buying and selling at set intervals to take advantage of price volatility.
Scalping Bots: This bot helps the user to profit from short-term price increments regularly.
RSI Scalping uses the RSI to catch price swings. It is an improved version that uses different time frames to spot the best time to buy dips.
Rebalancer: Rebalances the trader’s crypto portfolio using moving averages to define which coins are trading on an uptrend. It buys these coins periodically while selling underperforming coins.
RSI rebalancing trading bot uses an RSI indicator to spot oversold coins in the wallet and buy them periodically while selling underperforming coins in the wallet.
Scalping Dips: Works best during volatility to buy coins at dips and take advantage of rebounds.
Swing Trading Bot: Maximizes returns even during market down-trends.
Short Selling: It takes advantage of the moments when a coin is in a short-term scalping trend, meaning its price is below MA50.
Crypto Arbitrage: Buy and sell cryptocurrencies across connected exchanges to capitalize on price differences on these exchanges using pre-built rules.
DCA Accumulation, Trend following, Moving Averages, Buy Dips, Buy Dips in Bull Market, Catch the Falling Knife, Contrarian, Flash Crash, Golden Cross Trading, Heikin-Ashi, Low Volatility.
MACD/DMI, Moving Averages, Moving Averages Scalper, Multi Moving Averages, Oversold Reversal, Price Swing. Sell Worst Coin, Short Scalping, Stop Loss, Stop Loss and Re-buy, Take Profit, Take Profit and Rebuy, Trend Following, and Trend Following Scalping.
How to Create a Crypto Trading Bot Using Coinrule
Step #1: Sign up from the website.
Step #2: Connect an exchange account. You need to sign up with an exchange of your choosing, and on which you should create an API Key and Secret from the Settings page of your account dashboard.
Once you have the API Key and Secret Key from your exchange, go back to Coinrule, and from the Exchanges tab, choose the Exchange you want to connect to and add the API Key and the Secret Key. Click or tap “Connect.”
Step #3: Click or tap the Templates tab to start with a template to create a trading rule. Choose a template from the list of available.
If you want to create from scratch, click/tap the Start Blank tab from the dashboard to access the strategy creator/builder. Then add an exchange from the Exchange tab or use Demo Exchange. You are presented with four operators, namely THEN, ANY TIME, DO NOT, and Wait.
Here is the video for your reference:
Creating Strategies for Your Bots on Coinrule
You can start from scratch by clicking on the Create Rule tab on the Dashboard after you have logged in. The platform also offers the option to start with 200+ strategy templates, wherein selecting a template auto-fills your strategy creation form, and you can start customization from here.
Strategies can be set based on the simple to-understand “if/then” conditional rules or using advanced technical analysis indicators, such as RSI and other methods.
Trading View allows users to post scripts on its platform for back-testing, although not all of them get posted. From each strategy tested, you can generate its expected net profit, total closed trades, percentage of profitable trades, profit factor, maximum drawdown, average trade, and comparison of how a buy-and-hold strategy would fair.
How Coinrule Works
- Coinrule is used to create automated trading robots and strategies and to use them to trade cryptocurrencies. It makes it easy and quick to create bots and auto-trading rules that can work with minimal supervision for the trader. The user does not need to understand much of the programming, but can select a crypto trading bot template and customize other presets easily and quickly without coding.
- Traders must sign up for an account on Coinrule and the crypto trading exchange of their choice since Coinrule does not offer a direct crypto market on which these bots can work. The Coinrule account will be linked with the exchange account using an API, which must be created from the exchange account’s side and the API Keys and Secret will be added back to Coinrule. The user will also need to add funds to their exchange account.
- Through the API linkage (and customers can block any withdrawals via the API for added crypto safety), the bot sends trading commands to use the trading funds on the account to trade, i.e. to buy, sell, hold, etc according to the preset rules.
- With Coinrule, a user spells out conditions of trading and sets the trading actions to be accomplished when such pre-conditions are met in the rules. It supports the IF-THIS-THEN-THAT (IFTTT) type of programming commands.
Pros and Cons
Pros:
- Charges a flat monthly rate as a trading fee.
- The trading journey is customized as per the user’s trading experience when signing up. Strategies are recommended based on whether the user is a beginner, intermediate, or advanced trader. Users can choose the strategies in which they have the most experience.
- Creating complicated automated trading strategies without the need for programming knowledge.
- Free basic subscription package.
- Coinrule uploads most of the Templates to Trading View so users can see how a particular template has performed over time. This is available from Coinrule’s Trading View page.
Cons:
- No mobile app.
Coinrule Safety & Security of Funds and Accounts
- Coinrule implements Ukey’s secure login service, which encrypts data and hashes passwords using a strong algorithm.
- Non-withdrawal API keys: To use Coinrule, a customer must disable the withdrawal of funds via the API when creating it on the exchange account side. 256-bit AES and TLS are used to encrypt the API and Secret keys.
- Coinrule utilizes the Cloudflare CDN service to prevent DDOS attacks.
- Coinrule is also non-deposit-taking, meaning the customer’s trading funds are in their exchange accounts. Plus, it uses merchant-initiated transactions to collect payments, hence it does not collect user-identifiable information and there is none of it to put any risk.
Customer Support
- Coinrule has availed its email address and physical address in London, U.K. It also has a chat function on the website.
- Actively engaged on social media platforms such as Telegram, Twitter, and Facebook to provide support.
- Coinrule’s website provides a Help Center where customers can get all information relating to its products and services. This includes how to configure bots.
- Coinrule also responds to the clients’ Trust Pilot feedback.
Pricing and Fees
Coinrule has a free basic package for customers, but this provides access to only 7 templates for bots/auto trading strategies, 2 demo rules, allows connecting only 1 exchange with API, and up to $3,000 monthly trading volume which is low for the average active trader.
The Hobbyist package, which provides access to 40 templates, costs $29.99 per month or an annual subscription of $39.99 per month. The trader package is $59 or $79/per month, and the Pro is $499 per month.
Coinrule Alternatives
Here, the alternatives are outlined in comparison to Coinrule.
Coinrule vs TradeSanta
Both Coinrule and TradeSanta are used for automating crypto trades. TradeSanta automates the trading of stocks and futures besides crypto. It supports Grid and DCA bots. It costs $14, $20, or $30 per month with an annual subscription.
The basic bot offers up to 49 bots, an Advanced package up to 99 bots, and a Maximum package up to an unlimited number of bots.
Coinrule has advanced customization options where users can set their own rules and control portfolios. It also offers a free plan, as well as trailing orders which are not available on TradeSanta. Coinrule also offers more features, including Signals and apps market, etc.
Coinrule has a free package, but the other two packages cost between $29.99 and $499 per month.
TradeSanta is better than Coinrule in as far as the range of products to trade are concerned, but its main drawback is with trade customization.
Coinrule vs Hodlbot
Both feature trading terminals on which traders can buy and sell crypto and integrate with Trading View. The two bots also feature portfolio tracking and bot trading capabilities. Both provide portfolio customization options, including Hodling options, automatic portfolio rebalancing, and bot and strategy performance testing.
Coinrule, however, provides more features. It has futures trading which is not available on Hodlbot. It also offers personal consultation with expert traders and has more exchange integrations. (Hodlbot integrates with about 4, Binance, Kraken, KuCoin, and Bittrex).
Hodlbot, in comparison, has an indices investment platform in addition to the crypto trading platform.
Besides, Hodlbot is preferable for portfolio management and rebalancing and not for advanced users, while Coinrule is preferred even for advanced crypto, not trading.
Coinrule vs Cornix
Cornix is also a crypto trading featuring indicators, charting, integration with Trading View, a futures trading platform, crypto portfolio management, manual and semi-auto trading platform, trailing orders, and one-on-one trading sessions with experts. It trades based on Trading View scripts and Telegram channel signals.
It offers a mobile app, and the company offers signals on the Telegram group. Users can also configure to receive signals from other channels. Users can also configure APIs to trade on Huobi and Binance.
Compared to Coinrule, the latter is more feature-rich, offers advanced auto trading customization, and is more cost-affordable than Cornix.
Coinrule vs Cryptohopper
Cryptohopper is a competitive crypto trading bot when compared to Coinrule, offering more advanced templates, allowing users to buy and sell as well as discuss templates with other traders.
Cryptohopper offers 16+ crypto integrations which is better than Coinrule, and provides more customization for trading strategies than Coinrule.
The cost is between $19 and $99 per month. In comparison, the Coinrule basic package is free while the Hobbyist package costs $29.99 per month when paid annually or $39.99 per month when paid on a month-to-month basis. The Trader package is $59 or $79/ month, and Pro is $499 per month.
Coinrule integrates 14 exchanges and is more affordable for basic starter users. It is more user-friendly and intuitive.
Shrimpy
Despite being much cheaper at $15 per month on a Starter account, it does not offer bot scripting and is not best designed for active crypto traders.
3Commas
3Commas provides more features and functionality than Coinrule, with better opportunities for strategy customization. It is cheaper and applicable to beginner to advanced crypto traders.
Frequently Asked Questions
1. Does Coinrule accept credit cards?
Coinrule subscription packages can be paid using credit cards and cryptocurrencies BTC, ETH, LTC, USDC, and DAI.
2. Does Coinrule offer unlimited trading templates?
There are 150+ templates on Coinrule, which you can access unlimited with the two highest subscription plans Trader and Pro. Otherwise, the Starter free plan affords you only 7 template strategies and the Hobbyist 40 templates.
3. How do I follow Coinrule?
Coinrule is available on social media sites Facebook, Telegram as @CoinruleBot, and Twitter as @CoinRuleHQ. The website provides links to these and other social media in case of changes.
4. How do I create trading strategies on Coinrule?
To create a trading strategy for your bot on Coinrule, use two methods. The first is from scratch and the alternative is to utilize a template. Sign up and log in, then access the Templates tab on your Dashboard to view the templates and choose which one to start with.
Each is selected based on the indicator or trading rule you want to use. Once selected, the form fields will auto-fill with information but each of these can further be customized to fit into your trading plan.
Here from the template, you can customize the coin to trade (you can choose any coin or any of my coins), the wallet, and the amount you want to trade.
To back-test a strategy, simply select the coin on which you want to run the strategy, choose the 30-minute time frame for the chart, and choose your strategy from among those published on Trading View by Coinrule. You can then change your input parameters to optimize for the outputs/results of the test.
Otherwise, from the Start Blank option on the Templates tab, you are presented with a strategy creation screen where you can create strategies from scratch using the rules if/then.
Here you will set a condition meaning when the rule should execute the order, and then afterwards the actions or multiple actions will be triggered by the preset conditions.
5. Is Coinrule a safe place to trade cryptocurrencies?
In addition to using TLS encryption for website and database connections, there is 256bit AES encryption for API Keys, and private keys to user wallets are also AES-256-encrypted. Ukey1 is the secure authentication gateway partner for Coinrule and hence passwords are stored off the database.
In addition to using TLS encryption for website and database connections, there is 256bit AES encryption for API Keys, and private keys to user wallets are also AES-256-encrypted. Ukey1 is the secure authentication gateway partner for Coinrule and hence passwords are stored off the database.
6. Does Coinrule have an ICO?
Coinrule is crowdfunding, and this information is also available on the company website on how one can participate. It did not have ICOs like most other companies in the crypto space but instead uses crowdfunding rounds. Crowdfunding allows anyone to own part of the company in for of shares, and the opportunity affords you access to a three-month free membership to the Hobbyist plan, exclusive access to the investor community, etc.
To participate, head over to its website and click or tap Invest.
7. Is Coinrule legit?
Coinrule is a legit business with a legit business model, public-facing founders, and long-term proven business practice and legally operates in England. It uses a secure platform given the online security protocols it implements to secure wallets and transactions.
8. Is Coinrule profitable?
Based on customer online reviews, most of which are positive, Coinrule bots do generate profit for customers. That said, most crypto trading bots are not profitable mainly because a bot’s competitiveness to make a profit largely depends on the strategies employed and it is not easy to craft and come by a bot trading winning strategy.
Conclusion
Coinrule has a proven record for providing crypto trading bots and simple to intermediate-level trading bots and bot strategies with which customers can trade crypto. Compared to most crypto trading bots, it is still affordable for intermediate and beginner traders.
It allows quick creation of bots without having to code and there is a free version with which customers can test the features. Besides, there is a strategies marketplace and one can source signals and strategies with which to trade crypto on Coinrule.