Being one of the top expert advisors 2022 in the best expert advisor reviews, Coinrule offers users the ability to make automated trades without having to master coding.
Coinrule was created for both beginners to advanced cryptocurrency traders. one can create automated trading rules that can be used on multiple exchanges like Binance, Coinbase. etc.
For automated trading enthusiasts, this is an interesting piece of software, as it provides several advantages.
- 1 What is a Coinrule bot?
- 2 Coinrule Founder
- 3 How does Coinrule work
- 4 Product
- 5 How much does Coinrule cost?
- 6 How to use Coinrule
- 7 Coinrule support exchange
- 8 Template strategy
- 9 Coinrule invest
- 10 Coinrule Tradingview
- 11 Coinrule Medium
- 12 Is Coinrule profitable?
- 13 Coinrule pros and cons
- 14 Final thought
What is a Coinrule bot?
Coinrule bot is software that allows you to customize trading rules that allow for automated trading on supported exchanges.
For beginners, they can start for free, but with limited features, and advanced traders can explore their trading rules without having to bother writing algorithmic codes.
Or they can also choose a template from more than 150 automated trading templates. There are also trading papers for beginners that are useful for trading simulations and tracking performance with backtesting.
Coinrule offers crypto traders a way to compete with hedge funds and algorithmic trading which require complex programming knowledge. They strive to make automated trading bots easy.
Behind Coinrule are the names of CEO Gabriele Musella, and COO Oleg Giberstein. They are the founders of Coinrule.
Gabriele Musella has experience working for Nokia, Vodafone, WPP, British Government, and MIT in Boston. Working Fintech labs of Lloyds banking group, and UBS bank. Mentor at Google and Zillica accelerator.
Oleg Giberstein works in a banking risk role at Citigroup London, he also initiated the Ethereum alliance meetup in London with Gabriella launching Coinrule in 2018.
Also on the Coinrule team who joined in 2018 is Zdenek Hofler as a CTO with 20 years of experience in web applications.
All team member
In addition to the three of them, there are other team members totaling 17 members.
- Andrew Salvadore CTO.
- Abdulla Faraz held senior software engineering
- Femi Alayesanmi, Software Engineer.
- Wojciech Sromek, Tech Lead.
- Tolu Adekojo, Customer Success.
- Mateusz Choma, Senior Software Engineer.
- Reni Asumah, Community Coordinator.
- Farouq Benarous, Software Engineer.
- Hamlet Mkrtchyan, Senior Software Engineer.
- Vahan Hakobyan, Senior Software Engineer.
- Brodie Duff, Growth Marketer.
- Mohammed Sharaf, QA Engineer.
- Uchenna Okoro, Software Engineer.
- Lukas Krkoska, Project Manager, Data.
How does Coinrule work
Coinrule bot works by using APIs to connect with exchanges. It allows users to manage their crypto wallets to make automated trades when all the trading bot parameters are matched.
Here Coinrule users can connect on supported exchanges using the API, and set trading rules parameters according to the way of trading. For beginners, there are also trading papers and templates that you can try.
Paper trading Couinrule runs on the Binance platform, this is if the trader is still not ready to take the risk after connecting the API on the exchange. Where users get virtual funds of 10 BTC and 100 ETH for risk-free paper trading.
Coinrule software is browser-based and does not have a mobile application, so this is one of Coinrule’s shortcomings. However, users can access their dashboard with a mobile browser.
Coinrule Support Exchange
Coinrule bot can only be used on centralized exchanges and does not support decentralized exchanges or Dex. The currently supported exchanges are Binance, Coinbase pro, Okex, HitBTC, BitStamp, Bitpanda Pro, Kraken, Poloniex, and BitMEX.
The API settings on each exchange differ from one exchange to another, the settings of which can be found in the Exchange guidelines on Coinrule.
Coinrule offers four plans with different features in each.
- Starter package with features available 2 live rules, 2 demo rules, 7 template strategies available, and supports 1 connected exchange
up to $3k monthly volume trade.
- Hobbyst Package with available features 7 live rules, 7 demo rules, 40 template strategies, support for two connected exchanges, up to $300k monthly trade volume, leverage strategies., live telegram notifications, free access to trader community, advanced indicators, and operators.
- Trader package with 15 live rules, 15 demo rules, unlimited template strategies, 3 connected exchanges up to $3M monthly trade volume, leverage strategies, live telegram notifications, free access to trader community, one-to-one training sessions, advanced, indicators, and operators, TradingView integration.
- Package Pro with the most complete features, 50 live rules, 50 demo rules, unlimited template strategies, unlimited exchanges, unlimited trade volume, leverage strategies, live Telegram plus text notifications, free access to trader community, one-to-one training sessions, ultra-fast execution, dedicated server, advanced indicators and operators, TradingView integration.
- Another product of Coinrule is Invest, which investors can join to become shareholders, currently, 658 investors have joined the fundraising event.
How much does Coinrule cost?
The cost of using the Coinrule bot depends on the package chosen and the method of payment. If users pay monthly, the starter plan is free, the Hobbyst plan is $39.99 per month, the Trader plan is $79.99 per month and the Pro plan is $499.99 per month.
It’s different again if the payment is annual, the average price per month is lower. For the free fixed cost starter plan, the $359 Hobbyst plan is paid annually the equivalent of $29.99 per month. The $719 Trader Plan is paid annually or the equivalent of $59.99 per month. The $5,399 Pro plan is paid annually or the equivalent of $449.99 per month.
Users can choose a package plan according to their needs and preferences and they can cancel at any time.
How to use Coinrule
How to use Coinrule, users must register first using an email address and enter a password.
In the registration process, the first one will be asked about the trading experience, there are beginner, intermediate or expert options.
Next, choose the preferred coin, the user can choose ETH or BTC. Furthermore, Coinrule will provide recommendations for strategies, Low Volatility Buy and Sell, or the Golden Cross Trading, and Maximized Scalping, users are given a choice of one of the three.
Then the user can customize the strategy settings, for example by using the Moving Average and so on.
Next Coinrule will develop “If This Than That” based on the strategy, which after connecting to the account and the exchange will automatically start working.
Users can also use templates where there are hundreds of templates to choose from with a few clicks.
Connect API to exchange
Coinrule Bot will be able to work if it is connected to an exchange, where each exchange has almost the same steps. The first user login in exchange account then finds the API management by following step by step and copying API code from Coinrule to paste into the exchange API’s management.
The steps for connecting the management API can be found on the help page.
Coinrule support exchange
Although not all exchanges are supported by Coinrule, the exchanges that are supported are the world’s most popular and largest exchanges.
Binance, the largest exchange which controls Bitcoin transactions more than 5% daily average of all exchanges.
Coinbase Pro is the third-ranked exchange after FTX with average liquidity of 701 and a daily volume of over $2 billion.
The exchange has an average liquidity score of 517 with an average daily volume of $4 billion. The ranking on Coinmarketcap is still below Bybit at the time of writing.
The average transaction volume of HitBTC is $3 billion, although it is not a top exchange, HitBTC is an exchange with support for more than 800 trading pairs.
BitStamp exchange transaction information is untracked, however, the exchange is powered by Coinrule.
Bitpanda pro is designed for experienced traders which is an exchange based in Europe, the platform is built by Bitpanda exchange.
Ranking Kraken in fourth place after Coinbase, averaging 723 liquidity, Kraken has an average 24-hour daily volume of $790 million.
Poloniex scores 6.3, and the exchange has average liquidity of 511, with a 24-hour average volume of $46 million.
BitMEX this exchange is untracked, there is no information regarding this exchange on Coinmarketcap, so no information is displayed regarding its average daily volume and market transactions.
Various strategy templates can make it easier for beginners to choose a template. Based on user experience, the most chosen Coinrule Template strategy is to buy the dips in the bulls market.
These rules use the RSI indicator if the level is below 35, which is an oversold level, then also uses MA 9 and MA 200.
Plotting all indicators are on the M15 timeframe, with rules if the RSI is below the 35 levels and the 9 MA is above the 200 MA, which is an indication of a strong trend.
In addition to the buy the dips in the bull market template, there are others such as Grid trading in a range, multi-timeframe RSI scalping, Grid trading strategy, and others, where the number of templates is more than 150.
Coinrule also raises funds through the Seedr platform with the target of £250.002. The company also raises funds through the Seedr platform with the target
£250.002. Currently, Coinrule is successful in fundraising by raising £531,423 from 658 investors.
Coinrule created an account on Tradingview three years ago. And has the Pro badge on its profile. Has a reputation of 444, with 692 followers, and shares 35 trading ideas and 22 scripts. Getting 6727 likes.
The market allocation is 71% for cryptocurrencies, 20% for indices, 3% for commodities, and the remaining 6% for others.
However, the Coinrule admin on TradingView is less active where the content publishing was last November 2021.
Apart from TradingView, Coinrule also has a blog on Medium which has 245 followers. It has three contributors including founders Oleg Giberstein @ Coinrule, Gabriele Musella, and Daniel Wilson.
Out of the three the most active is Daniel Wilson. Of the three, the most active are Daniel Wilson and a female writer Toluadekojo.
Is Coinrule profitable?
Coinrule bots offer automated trading by creating rules based on analytical techniques. All results will depend on the accuracy of the rules created.
Although the Coinrule bot offers hundreds of template strategies, users should test each strategy to measure the performance of trading rules.
Referring to the improved user experience on Crypto Trading bots, from using 15 templates with ten executed trades and a $2 budget, the return on the whole strategy template is not that fantastic. The final return was around $7.2 with a total growth of +0.12%.
Trading strategies in testing
The following are the trading results from the template strategies used:
- Buy Best Performing On BTC Dip + Slop Loss / Take Profit P/L =$0.
- Golden Cross Trading, Profit/Loss: +2.11 USD.
- Maximized Moving Average Crossing, Profit/Loss: -7.24 USD.
- Everyday Buy The Best Coin, Profit/Loss: +3.55 USD.
- Low Volatility Buy And Sell, Profit/Loss: 0 USD.
- Buy The Dip Multi-Level, Profit/Loss: -3.64 USD.
- Scalping Dips On Trend, Profit/Loss: -4.17 USD.
- Scalping On Trend, Profit/Loss: -3.3 USD.
- Trade The Coin In The Spotlight, Profit/Loss: -1.17 USD.
- Moving Average Crossover On Trend, Profit/Loss: -0.95 USD.
- Portfolio Take Profit and Re-buy, Profit/Loss: +9.39 USD.
- Catch The Falling Knife, Profit/Loss: +6.3 USD.
- Multi Moving Average Crossing, Profit/Loss: +4.56 USD.
- Every Day Buy The Best + Stop Loss And Take Profit, Profit/Loss: +1.32 USD.
- Multi Time Frame Crossing MA9/100, Profit/Loss: +0.46 USD.
Coinrule pros and cons
- Easy to use platform, no need for programming skills.
- Support top exchange.
- Free user available.
- Transparent team.
- Support backtesting.
- No mobile application.
- Time-consuming to test all templates.
Coinrule bot is one of many automated trading competitors for cryptocurrencies. Despite supporting top exchanges like Binance, Coinrule has not supported the FTX market which is the top exchange after Binance.
After all, crypto assets are digital currencies with high liquidity and are highly volatile. Using automated trading software, will not necessarily be profitable.
Note: this article is for informational purposes only and does not constitute investment advice or solicitation. Forex, crypto CFDs are risky. Each investor is responsible for their investment.
You may like