Coinrule Review 2023 | Exploring the Automated Trading Bot Platform

Jeremy Biberdorf
By: Jeremy Biberdorf
Oct 03, 2023
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4.2/5

4.2 rating based on 5 ratings

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In a nutshell: Coinrule is an automated trading bot platform that’s tailored for both newcomers and seasoned traders in the cryptocurrency space. The platform operates around the clock, enabling users to capitalize on the potentially lucrative opportunities within the dynamic world of crypto trading.

Coinrule offers an extensive set of tools for users with different trading strategies in mind. Whether you have a solid plan or are looking for inspiration, Coinrule has got you covered. It provides more than 150 trading templates, making it simple for users to get started without any previous knowledge or planning.

The team behind Coinrule, led by CEO Gabriel Musella, is a group of blockchain and crypto enthusiasts who saw firsthand how complicated it could be to trade cryptocurrencies. They set out to make this process more accessible and less intimidating for everyone.

Setting up an automated crypto trading bot doesn’t have to be a complex process that only experts can navigate. Coinrule offers a user-friendly interface where users can easily set up their trading bots. The platform’s unique If-this-Then-That logic offers flexibility and control, accommodating the specific needs of individual traders. This coinrule review provides a thorough examination of the trading platform to help you determine if it’s suitable for your trading needs.

Service TypeFees
Trading Bot PlatformVariable
Pros & Cons
Pros
  • User-friendly interface suitable for all crypto traders.
  • Over 150 trading templates with If-this-Then-That logic.
  • 24/7 automated trading.
  • Demo exchange and backtesting feature.
  • High security with encrypted API keys.
  • Educational resources for trading insights.
  • Free sign-up with no risk.
  • Works with Binance, Coinbase, Kraken, etc.
Cons
  • The top tier is quite costly.

What is Coinrule?

Coinrule is an automated trading bot platform designed for cryptocurrency trading. It was founded in the UK in 2018 and aims to make cryptocurrency trading more accessible and less complicated for both experienced and novice traders. The crypto trading platform operates 24/7, giving users the chance to capitalize on the dynamic crypto market at any time.

Coinrule offers a wide range of tools, including over 150 trading templates for those who may not have a specific trading strategy in mind. Users can create customized trading bots using Coinrule’s unique If-this-Then-That logic, which allows for flexibility and control over trading strategies. The platform’s user-friendly interface and smart assistant make it easy for anyone to build a trading bot, even without extensive trading knowledge.

Coinrule provides an easy-to-use environment where users can create their own trading strategies, add personal rules, or even use ready-made templates for paying customers. This makes it possible for users to compete with automated hedge funds without having to write any code.

Meet The Coinrule Team

Located in the heart of London, Coinrule has made a notable mark since its inception in December 2017, with its formal operations commencing in March 2018. While the main hub is in London, it’s worth noting that the company’s technical bot infrastructure is primarily located across various European regions.

Team Dynamics

Lets take a look at who is Steering the Ship:

  • Gabriele Musella: A prominent figure in the fintech space, Musella has had influential roles at major banks like UBS Bank and Lloyds Banking Group. He founded Paylinko and has been mentoring at prestigious institutions such as Google and Virgin Startups since 2016.
  • Oleg Giberstein: With academic roots in Politics and International Relations from Oxford and London, Giberstein’s banking experience is enriched with his tenure at Citigroup London. In 2016, he launched Guidelighter, a platform for professional knowledge exchange. Additionally, he’s had an active role in the Ethereum community, contributing significantly to its London events and advising emerging blockchain ventures.
  • Zdeněk Höfler (CTO): Coinrule’s technical pillar, Höfler focuses on crafting a superior crypto trading experience. Apart from his vast background in web application development, he’s the brain behind UKey1, an authentication service that Coinrule leverages. He joined the Coinrule ensemble a few months post its launch.

Not only do they have a great founding team, they also have expert advisors helping steer them in the right direction. Lets meet some of their advisors:

  • Robin Bade: Previously the CEO Europe at Mirum WPP.
  • Oliver Snoddy: The once Global Brand Head for Twitter.
  • Mary Alcantara: Currently managing startups at MKB Bank.
  • Sam Artuso: Recognized as High Octane’s Senior Technologist.
  • Andrea Baronchelli: A pivotal researcher at the UCL Blockchain Centre associated with City University.

With such a strong team and advisory panel, Coinrule stands firm in its mission and objectives in the evolving crypto landscape.

How Coinrule Works

Coinrule operates as a trading bot service platform designed specifically for cryptocurrency trading. Even though the world of cryptocurrency, being relatively young since its inception in 2009, presents challenges such as unpredictable market behaviors, costly trading fees, and limited services, Coinrule addresses these concerns.

Unlike traditional bots that encompass all trading instruments, Coinrule zeroes in exclusively on cryptocurrencies, proving advantageous for seasoned algorithmic traders.

At its core, Coinrule functions through an API or Application Programming Interface. To put it simply, an API acts as a bridge allowing multiple software applications to communicate and execute commands.

For instance, using the API of a well-established crypto exchange like Binance, users can directly conduct trades or withdraw funds without the need to access their Binance accounts. Coinrule, acting as the intermediary trading bot, takes the user’s trading instructions and executes them through the exchange’s API.

Coinrule sets itself apart by using the IFTTT (If This Then That) model, allowing users to create conditional trading commands. Users can set specific triggers based on market conditions, and the bot springs into action once these conditions are met.

If the conditions don’t align, the predetermined trade doesn’t occur. Users have the flexibility to choose from existing templates of trading strategies or craft their own based on personal strategies. Each template follows the format where a certain market event (A) will trigger a specific trading action (B). The platform is dynamic, with fresh trading indicators introduced regularly, allowing for greater customization.

While it’s beneficial to utilize well-established trading strategies, Coinrule encourages users to curate their unique templates. However, it’s crucial for traders to conduct thorough research and stay updated on security protocols before venturing into trades.

You can explore this platform by clicking here.

Coinrule Plans

Coinrule offers four distinct plans, each with its own set of benefits. The most basic option is the free starter plan, ideal for those looking to begin without any financial commitment. The available rules, number of connected exchanges, trade volume, and access to trading templates vary according to the chosen plan. In total, Coinrule offers four different account types to cater to a range of needs.

Starter Plan:

  • Cost: Free
  • 2 Live Rules
  • 2 Demo Rules
  • 7 Template Strategies
  • 1 Connected Exchange
  • Up to $3,000 monthly Trade Volume
  • 3 Conditions
  • 30 Rule Executions

Hobbyist Plan:

  • Cost: $29.99 per month or $359 billed annually
  • 7 Live Rules
  • 7 Demo Rules
  • 40 Template Strategies
  • 3 Connected Exchanges
  • Up to $300,000 monthly Trade Volume
  • Leverage Strategies
  • Live Telegram Notifications
  • Access to Trader Community
  • Advanced Indicators
  • 3 Conditions
  • 100 Rule Executions
  • Save Rule Templates
  • Marketplace Copy Trading”

Trader Plan:

  • Cost: $59.99 per month or $719 billed annually
  • 15 Live Rules
  • 15 Demo Rules
  • Unlimited Template Strategies
  • 5 Connected Exchanges
  • Up to $3 million monthly Trade Volume
  • Leverage Strategies
  • Live Telegram Notifications
  • Free Access to Trader Community
  • One-to-one Training Sessions
  • Advanced Indicators
  • TradingView Integration
  • 6 Conditions
  • 1000 Rule Executions
  • Save Rule Templates
  • Marketplace Copy Trading”

Pro Plan:

  • Cost: $449.99 per month or $5,399 billed annually
  • 50 Live Rules
  • 50 Demo Rules
  • Unlimited Template Strategies
  • Unlimited Connected Exchanges
  • Unlimited Trade Volume
  • Leverage Strategies
  • Live Telegram and Text Notifications
  • Free Access to Trader Community
  • One-to-one Training Sessions
  • Ultra-Fast Execution
  • Dedicated Server
  • Advanced Indicators
  • TradingView Integration
  • 6 Conditions
  • 10,000 Rule Executions
  • Save Rule Templates
  • Marketplace Copy Trading”

Coinrule Exchange Options

After selecting a pricing plan and setting up your account on Coinrule, you’ll need to link a cryptocurrency exchange. This is done by using API keys, which can be found in your crypto exchange account. Once you’ve generated your API keys, simply head back to the Coinrule Dashboard to input the necessary API information. Currently, Coinrule supports the following popular exchanges:

  • Bitfinex
  • Binance
  • Binance US
  • BitMEX
  • Bitpanda Pro
  • Bitstamp
  • Bittrex
  • Coinbase Pro
  • HitBTC
  • Kraken
  • Liquid
  • Poloniex

Setting Up Your Strategies on Coinrule

After successfully connecting to your preferred exchange, you can proceed to create your own trading strategies. Coinrule offers an intuitive user experience that clearly indicates the effects of your chosen parameters, making it straightforward to devise a strategy, even for beginners. Once you’ve selected your parameters, a summary of the market conditions your rules will adhere to can be found in a tab at the top right of the page. After reviewing and confirming your strategy, you can launch your bot to start trading in real time. Alternatively, you may opt to use one of the pre-existing trading templates that have been tried and tested by professional traders.

Trading Strategy Templates

Coinrule offers a variety of templates designed to guide users in their cryptocurrency trading decisions. At the heart of these templates is a set of predefined rules and actions tailored for each trading scenario, ensuring a systematic and consistent approach to trading. With over 150 templates available, users have a rich reservoir to tap into. To access these, simply select “New Rule,” then click on “Templates” to unveil Coinrule’s arsenal of profit-oriented templates.

It’s important to note, however, that many of these templates are accessible through premium plans, which might be an investment but can potentially lead to substantial returns.

So, how do these templates work? They draw their insights from a combination of technical and fundamental asset analysis. Technical analysis is pivotal as it focuses on analyzing the trends and patterns of price charts to identify potential trading opportunities. This method operates on the belief that all crucial information, whether it’s news, underlying factors, or market sentiment, is already integrated into the current asset price. This analysis, therefore, zeroes in on existing price and volume trends to anticipate future shifts in price.

Coinrule’s trading software stands out because of its ability to efficiently handle vast monthly trade volumes, offering users a clearer picture of the cryptocurrency market’s dynamics. For those who desire a personalized touch, Coinrule permits the creation of custom trading rules or even test rules. However, for those who prefer ready-made solutions, the platform’s templates, grounded in rigorous technical analysis and market volume insights, offer a robust path to potentially successful trading outcomes.

User Experience

Coinrule seeks to accommodate active traders, both beginners and professionals. Their mission is to enable all users to compete with professional algorithmic traders and hedge funds. They achieve this by prioritizing product usability, offering an intuitive interface, and a step-by-step process for strategy development that avoids complex terminology. This approach ensures that beginners can easily create a plan while professionals have the flexibility to design their strategy as they see fit. If preferred, users also have the option to employ a pre-designed template rather than crafting their own rules.

Security Measures

Coinrule places a strong emphasis on ensuring the security of their users. To protect user information, the platform encrypts all API keys with sophisticated security protocols and stores all private keys on separate, encrypted data storage. Moreover, the API keys used to connect a user’s Coinrule account to their exchange account do not grant withdrawal rights. This means that even in the event of a data breach, the information accessed would not allow for the withdrawal of funds from the exchange.

Coinrule Strategic Trading Insights

Beyond providing trading strategy templates, Coinrule goes a step further by delivering daily emails with complimentary trading signals. These insights are designed to assist you in fine-tuning your strategies and establishing new rules. The templates offered by Coinrule consist of strategies commonly utilized within the trading bot arena, including stop loss, buy the dip, price-based accumulation, rebalancing, and more. The range of templates accessible to you is contingent upon your pricing plan; however, you are at liberty to replicate any of the templates by conducting your own research and crafting your own trading rules.

Testing Strategies with Coinrule’s Demo and Backtesting Features

Coinrule offers traders a valuable toolset for testing their strategies before deploying them in live trading. The automated trading platform provides a built-in Demo exchange where users can assess their rules using virtual funds in real time, simulating how their strategy would perform in the current cryptocurrency market conditions. To further enhance the accuracy of these simulations, prices for the Demo exchange are sourced directly from Binance.

In addition, Coinrule has introduced a backtesting feature that allows users to evaluate their trading strategies against historical data. This enables traders to understand how their rules would have performed in past market conditions, providing valuable insights for optimizing their strategies. Both the Demo exchange and backtesting feature are essential tools for traders looking to refine their strategies and increase their chances of success in the volatile world of cryptocurrency trading.

Coinrule’s Educational Resources

Coinrule offers an extensive collection of educational resources in the “LEARN” section of their website. Here, users can access a wide range of tutorial videos that cover various aspects of trading. The value of this educational material is considerable, as it provides insights and knowledge that could be worth thousands of dollars. Remarkably, Coinrule makes these resources available to users at no cost.

Coinrule’s Customer Support Options

Coinrule offers multiple avenues for customer support. Users can find answers to common questions in the platform’s FAQ section. For more specific inquiries, Coinrule’s team can be reached via email. Additionally, users can connect with Coinrule through their various social media channels, providing yet another way to get assistance and stay updated on the latest news and updates.

Coinrule Customer Reviews

Coinrule has received positive reviews from users on Trustpilot, highlighting the platform’s accessibility for those without coding skills. Users commend the platform for its intuitive user interface and straightforward rule-setting process. The platform’s continuously evolving features, such as the inclusion of advanced indicators and settings, are particularly appreciated by users looking to enhance their trading strategies.

Customers have praised Coinrule’s responsive customer support, and the platform’s educational resources, including workshops and YouTube videos, have been lauded as valuable assets for both novice and experienced traders.

Why Use Coinrule for Cryptocurrency Trading?

Coinrule is a user-friendly cryptocurrency trading platform designed for both technical and non-technical traders. The platform simplifies the trading process by providing an intuitive interface and tools that allow users to easily create and automate their trading strategies without the need for coding skills. This accessibility brings a level of convenience and ease of use to the cryptocurrency space that is often found in other tech areas.

Coinrule operates on the principle of “If-This-Then-That,” enabling users to set up automatic trading rules that run 24/7. This approach not only streamlines portfolio management but also enhances its safety and efficiency. Furthermore, Coinrule offers a backtesting feature that allows users to test their trading rules and strategies before launching them, helping to ensure the effectiveness of their trading plans.

Coinrule Review – Final Thoughts

Coinrule has positioned itself as a formidable contender in the automated trading bot arena. With its user-friendly interface and an extensive array of tools, it has made cryptocurrency trading accessible to traders of all experience levels. Whether you’re a beginner trader looking for a safe introduction to cryptocurrency trading or a seasoned professional seeking to automate your strategies, Coinrule provides a suitable platform.

The automated trading solutions platform offers a diverse range of pricing plans to accommodate different needs, making it a versatile choice for traders. Coinrule’s secure API connections with major exchanges and robust security measures further enhance its appeal.

Testing your trading strategies before going live is a crucial step in successful trading. Coinrule offers a built-in Demo exchange and a backtesting feature, enabling traders to fine-tune their strategies before entering the real market. The platform’s educational resources provide valuable insights, helping users gain a deeper understanding of cryptocurrency trading.

Coinrule’s commitment to making cryptocurrency trading more accessible, its range of tools and features, and its dedication to user security make it a n excellent platform worthy of consideration for anyone looking to venture into trading cryptocurrency.

Looking to simplify and optimize your crypto trading? Coinrule is a reliable and user-friendly option. Get started with Coinrule today and unlock the potential of automated trading!

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Frequently Asked Questions

Yes, it is secure. To safeguard customer accounts and assets, it employs Ukey1’s robust login service, incorporates 256-bit AES encryption for managing API keys with distinct private keys designated for every user account, and utilizes Cloudflare’s cloud solutions to defend against DDoS threats.

Coinrule is an easy-to-use automated cryptocurrency trading tool. It’s designed for traders who aren’t experts in tech. Compared to other platforms, Coinrule is simpler and more user-friendly.

Coinrule acts as a digital helper for crypto trading, empowering you to maintain trading control and effectively counter hedge funds and programmed bots. So far, Coinrule has catered to over 120,000 users, executed over 5 million trades, and handled transactions exceeding $1 billion.

Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. After working many years in the website marketing industry, he decided to take on blogging full time and also get his finances headed in the right direction. Also check out his contributions to Equities.com and Benzinga.