2022-7-29 14:13 |
Coinrule is a platform for smart trading that allows you to automate your cryptocurrency trading and investing using bots. You can access more than 100 templates, customize trading rules, and avail yourself of a large number of moderately priced trading plans.
Novices can do backtesting on TradingView and paper trading to try out different strategies and see what works and what doesn’t. They choose the cryptocurrency, the time over which to execute the trade, and the trading strategy.
TradingView displays the number of trades the strategy created and closed, the percentage of potential profitability, the profit factor, the net profit the transaction would have generated, and the maximum drawdown.
How it worksCoinrule makes it easy to set up trading parameters. Their templates provide strategies for beginners to choose from. The plan you choose determines how many rules you can use, your trade volume, how many exchanges you can connect to, and how many trading templates you can access.
There are four plans: starter, hobbyist, trader, and pro. Starter is free, and the rest cost $29.99, $59.99, and $449.99 a month at the time of writing. Below are the details:
Starter (Free)
· 7 Template Strategies
· Up to $5k Monthly Trade Volume
· 2 Live Rules, 2 Demo Rules
· 1 Connected Exchange
Hobbyist
· 7 Live Rules, 7 Demo Rules
· 2 Connected Exchanges
· 30 Template Strategies
· Up to $50k Monthly Trade Volume
· Free access to Trader Community
· Telegram + Text Notifications
· Advanced Indicators
Trader
· Unlimited Template Strategies
· 15 Live Rules, 15 Demo Rules
· 3 Connected Exchanges
· Up to $500k Monthly Trade Volume
· Telegram + Text Notifications
· Advanced Indicators
· One-to-one Training Sessions
Pro
· Unlimited Template Strategies
· 50 Live Rules, 50 Demo Rules
· Unlimited Exchanges, etc.
Coinrule lets users link all their trading accounts in one place, regardless of the platforms they use: They can choose from the following exchanges:
· Binance
· Binance US
· Bitfinex
· BitMEX
· Bitstamp
· Bitpanda Pro
· Bittrex
· HitBTC
· Coinbase Pro
· Kraken
· Poloniex
· Liquid
User-Friendly LayoutWhen the user chooses trading parameters, they see a summary of their trading conditions in a tab at the top right of the page. Then, they launch their bot, and it starts trading in real-time. They can use a trading template that pros have tested.
Technical indicators are used to derive trading rules and guidelines, and you can trade digital assets directly from Coinrule.
Key features Up to 150 templatesThe platform provides access to up to 150 templates with customization focused on different trading strategies. It helps users find the risk approach depending on their propensity to take risks. As they develop a system, they expand upon their strategy.
The free demo makes it possible to run tests to see the effect of your chosen trading strategies. The demo version provides essential insight into trading that helps improve knowledge, enhances traders’ confidence, and ultimately boosts profitability.
Custom automated tradesYou’re never caught in a dip or miss a bull market by activating this feature. The platform constantly seeks reliable market indicators to make intelligent fund allocation possible, but without depriving the user of control over trading.
SecuritySecurity is where Coinrule truly excels. The state-of-the-art security platform guarantees reliable protection of trading information and personal data. Coinrule achieves this by top-grade payment protection, thwarting denial of service attacks, and authentication procedures. The platform stores and confirms crucial information using high-quality, effective algorithms and military-grade encryption technology.
The platform places value on preventing denial of service attacks. To guarantee protection against them, it cooperates with CloudFlare to monitor and keep the platform from going offline.
Coinrule routes payments through Stripe and collects no personal data or payments directly. For its part, Stripe does away with the need for credit cards, marking these transactions as merchant-initiated. This extra security layer lets Coinrule keep all customers’ information safe.
These features combine to render Coinrule one of the safest trading platforms. They build multiple layers that keep cyber attackers from breaking into the platform.
EducationThe platform has an in-depth section on knowledge and education, a glimpse of which you can see above. There is also a subsection on Trading 101, examples of feasible strategies, and a subsection on how to master Trading View, the leading charting tool provider worldwide.
Coinrule pros· Advanced trading indicators
· Advanced security
· Outstanding customer service
· Several pricing plans with promotions
· A solid interface that works well for laymen
· Free sign-up
· Compatible with multiple exchanges
Cons· Not as many features as some of the competing trading bots
· The highest Coinrule tier is costly
· Fees accumulate
· No mobile trading app
Why should you use Coinrule?You should use Coinrule to learn the ropes of trading and its customization features to make sense of market fluctuations, of which you can take advantage. The platform does away with complicated terms in favor of product usability in the form of an intuitive interface. A beginner can create a plan easily, while a seasoned trader can customize their strategy.
Another reason to use Coinrule is the convenience of the platform. It sends out daily emails with free trading signals to help its users adjust their strategy and create new rules.
Even those who opt for the free version will find it highly realistic and satisfying. For example, if you choose the free starter plan, there will be a simulated 0.1% Binance fee. The fee is deducted from the Quote currency when buying and from the Base currency when selling.
Coinrule and the competitionWhile other platforms offer similar services, Coinrule is the only one that allows its customers to connect to multiple exchanges, including the cream of the crop, like Binance and Coinbase. This is a big plus for those seeking the best rate for their transaction or investing in various cryptocurrencies.
Coinrule also stands out through its comprehensive educational tools, which help users get better at trading.
VerdictCoinrule is most suitable for daily traders or users with multiple exchange accounts. It’s perfect for people who aren’t willing or don’t know how to develop and implement strategies. You can trade actively because the platform will implement your system for you.
On the other hand, Coinrule might not be the best option if you have only invested in a limited number of cryptos or you prefer to hodl and don’t trade often. What’s more, their paid plan fees can accumulate quickly. For each trade executed by Coinrule, your exchange might charge fees.
It’s best to start with their free plan to see if you make a profit. You’ll then be able to judge whether the paid plans could outweigh the costs.
The post Coinrule: review of the smart trading platform appeared first on CoinJournal.
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