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Coinrule Review 2024: Strategies, Pros & Cons
Luis Clark
- URL: https://coinrule.com
- Year Founded: 2018
- Pricing: Free to $499.99
- Free Trial: Yes
- Payment Options: Credit card and debit card
- Supported Exchanges: Coinbase Advanced, Binance, Kraken, Bitpanda, Kucoin, Kraken, Uniswap, OKX, and OKEX
- Cloud Based: Yes
- Reported Profitability: Dependent on the trading strategy used
- Customizable Strategies: Yes
- Scalping: Yes
- DCA: Yes
- Arbitrage Bot: Yes
Coinrule Review: Our Opinion
Coinrule is a feature-packed automated crypto trading bot that caters primarily to professional algorithmic traders and hedge funds.
Users can easily create custom trading strategies (their own automated trading rules) and beginners can follow experienced traders and copy their automated trading rules.
The trading bot platform also stands out for its support for Uniswap, a decentralized exchange, which most trading software do not support.
Coinrule, however, is priced high with its highest plans going for $499 monthly. It offers a free plan but it has limited features and won’t be the go-to option for experienced traders.
An Overview of Coinrule
Coinrule is an automated trading strategy bot platform. It was founded in 2019 and is currently headed by Gabriel Musella (CEO) who previously worked at the Innovation Labs of Lloyds Banking Group and UBS Bank but launched the trading bots platform in 2018.
Other members of the Coinrule team include Oleg Giberstein (COO, Growth), Zdenek Hofler (CIO, Architecture), and Andrew Salvadore (CTO).
Oleg Giberstein launched Coinrule alongside Gabriel Musella.
Advisors of the Coinrule brand include Mary Alcantara (Head of Startups MKB Bank), Robin Bade (ex-CEO Europe Mirum WPP), and Stelios Gerogiannakis (Principal Engineer GoCardless).
Coinrule trading bot service is also in partnership with CoinGecko, KAIKO, Bitpanda, Fintech Alliance, The Alan Turing Institute, Kraken, Crypto Mondays, RBS, and NatWest.
Concerning its products, Coinrule allows users to create their own automated trading rules (trading bots) that run 24/7 on 10 supported crypto exchanges.
It also allows users to browse the Coinrule marketplace and purchase trading strategies (rules) created by other users.
Users can also test their crypto trading bots on the platform to vet their profitability using historical data. They can also monitor their trades on the go through the mobile app.
Pros
- Military-grade security
- Supports custom strategy
- Back-testing supported
- Unlimited template strategies
- It has a mobile app
Cons
- High pricing
Coinrule Review: Unique Features
Demo Exchange
The Coinrule demo exchange gives both the beginner trader and experienced trader a platform to test the efficiency of their strategies without risking their assets.
With the demo exchange, you get a virtual funding allocation that you can use to test out your own rules and strategies.
It simulates real trading conditions. The demo rules run in paper trading on Binance and accurately mirror actual trades.
Coinrule gives you a virtual allocation of 10,000 USDT and 10 BTC, which you can use to execute trades in real market conditions.
You can adjust your allocations by placing direct orders for new coins if the coin you decide to trade is not available in the preset allocation.
Since the demo trading exchange is connected to Binance, you can test your strategies with all the available coins on the exchange.
The demo exchange allows you to create countless demo rules and strategies. With demo rules, you can make the right or wrong trading decisions and learn from them without hurting your assets. You can also test and tweak your strategies to increase returns.
The platform lets you use both market and limit orders on demo rules.
While the live and demo rules share several similarities, there are some differences. A major difference is the fact that slippage is not taken into account in Demo rules and this can result in different outcomes.
This inaccuracy is often found in the price of low-volume coins that have less liquidity.
The lack of slippage often improves the returns of demo rules especially when the rule trades less liquid coins and takes profit with very small price percentages.
Also during busy trading times, Coinrule may not have time to check demo rules frequently. This is because priority is given to live strategies running on the platform.
However, including an additional market cap or volume can reduce the differences between real trading and paper trading.
Another difference between Live and Demo Rules is exchange fees.
Demo rules include a simulated 0.1% Binance fee. The fee is taken from the base currency when selling and from the Quote currency when buying. The difference with this is that Binance exchange fees can be paid in BNB with a discount but this is not taken into account on the Demo mode.
Despite the differences, in both cases trading results for both demo trading and live trading are similar.
Coinrule has a “Reset Demo Wallet” setting that lets you reset your demo wallet allocation at any time. This gives you an ample amount of coins to test your own rules on the demo exchange.
To reset your demo wallet, do the following:
Login to your Coinrule account and navigate to the Rule Dashboard page.
Click on the “Wallet” icon at the top of the page. When you do this, a dropdown menu will open showing you all the coins available on the platform.
To view the coins available in your demo wallet, click “Show Demo Exchange”.
Next, click on “Reset Balance”.
Once you do this, your demo wallet will be automatically reset.
Note: Ensure you do not have any active demo rules running before resetting your demo wallets.
Templated Trading Strategies
Coinrule offers access to unlimited template strategies that you can choose from.
A trading strategy template is a set of premeditated rules and actions that you can use for each deal.
The provided crypto trading tactics, complete with pre-set specifications, are assorted on Coinrule. They are categorized based on the nature of investment and the level of intricacy, representing some of the prevalent methods in cryptocurrency trading.
The template strategies follow strict technical analysis and market trading volume thereby boosting your chances of success in the market. It also ensures consistency and structured trading.
Supported Crypto Exchanges
Coinrule works with over 10 crypto exchanges. Supported exchanges include Binance, Coinbase, Bitpanda, OKX, Kraken, KuCoin, Binance Futures, Uniswap and Okex.
Coinrule Review: Trading Strategies
Coinrule supports over 250 pre-built strategies that allow you to execute automated crypto trading bots.
The top-performing template rules include the following:
- The Combination Scalper: This scalper strategy enters into short-term dips via moving averages and volume and then exits trades with the Relative Strength Index.
- Smart Accumulation and De-risk: This is a Dollar Cost Averaging (DCA) technique that buys the same fiat amount of a cryptocurrency over consistent time intervals to diversify your purchases over the extended price volatility of the crypto asset.
- Catching The Bottom: This trading bot uses the EMA and RSI technical indicators to open and close a trade.
- Grid Trading In Range: With the Grid Trading strategy the trading bot adds value to your portfolio in times of poor volatility when a cryptocurrency is trading sideways.
- Buy The Dips In a Bull Market: This strategy takes advantage of short-term opportunities in a Bullish market.
Other popular strategies on Coinrule include:
- EMA And MACD With Trailing Stop Loss
- RSI Top Scalper
- Ichimoku Cloud And ADX With Trailing Stop Loss
- Simple RSI And SMA Long And Short
- Ichimoku Cloud With MACD And Trailing Stop Loss
- Multi Time Frame RSI Scalping
- Uptrend Breakout Scalper
- Multi Time Frame Buy Low Sell High – Short-Term
- RSI-Based Dollar Cost Averaging
- Grid Trading Strategy
- Uptrend Swing Trading
- Maximized Scalping On Trend
- Moving Average Scalper
- Catch The Falling Knife With An Exception
- Scalping Dips On Trend
- Multi Moving Average Crossing
- Catch The Price Swing
- Golden Cross Trading
- Rebalance Trend Following
- Maximized RSI Strategy
- Bitcoin Trading In Sideways Market
- Ride The Trend
- Low Volatility Buy And Sell
- Maximized Moving Average Crossing
- Buy The Uptrend Flash Crash
- Short Selling MA Cross
- RSI Decrease Scalper
- RSI Increase Scalper
- Fast EMA Above Slow EMA With MACD
- RSI and MA With Trailing Stop Loss and Take Profit
- Shorting when Bollinger Band Above Price with RSI
- Inverse MACD + DMI Scalping with Volatility Stop
- Bollinger Bands and RSI Short Selling
- Ichimoku Cloud With RSI
- Ichimoku Cloud and Bollinger Bands (by Coinrule)
- Short-Term RSI and SMA Percentage Change
- Ichimoku Cloud with ADX
- Ichimoku Cloud with MACD
Coinrule offers a lot more trading strategies than those listed above, which may be too much for newbies.
Customizable Strategies
Customizable trading strategies on Coinrule are done via the Build A Rule interface that allows users to create custom automated rules without needing to know how to code.
You can also edit a preset trading strategy.
To edit or customize already-built strategies, go to the activity page of the trading rule.
Next, select the Edit option to customize chosen parameters of the strategy and optimize it to particular market conditions.
Alternatively, to create your own trading rules (trading strategies) log into your Coinrule account and then click “Create Rule”.
This will redirect you to the Coinrule Rule Editor.
Next, select the crypto exchange you would want to execute the trading rule on.
You then need to specify the conditions that you would want to happen for the trading rule to trigger.
After selecting the condition, you’ll need to define an action or multiple actions that your trading bot will execute once your set conditions are met.
After setting the first execution, you can make your trading rule more advanced by adding an operator. The operator enables you to manipulate the logical connection blocks between different blocks in trading rules.
Lastly, set the time you want the trading bot or trading bots to launch as well as the number of times you want the rule to run.
Coinrule Review: Plans and Pricing
Coinrule offers 5 plans including a free one. The features and monthly trade volume for each plan differs.
- Starter Plan: This plan is free of charge. The free plan allows up to $3K monthly trade volume.
- Hobbyist Pricing Plan: This plan costs $29.99 monthly, with up to $300K monthly trade volume.
- Trader Pricing Plan: The Trader plan allows up to $3M monthly trade volume and costs $59.99 monthly.
- Pro Pricing Plan: This plan gives you access to unlimited exchanges. It costs $499.99 monthly.
- Business Plan: The Business plan is offered at Enterprise Only rates. This means you’ll have to contact the Coinrule team via their support email to get a custom charge and monthly trade volume for the service.
These plans all differ in terms of features offered with the Business plan supporting the most functions.
Payment Methods
Coinrule offers only credit cards and debit cards as its supported payment method.
Opening a Coinrule Crypto Trading Bots Account
To open a Coinrule trading bots account go to https://coinrule.com.
Tap on the hamburger menu and click on Sign Up.
Enter your email address and password.
Click Create Account.
You can also tap the Google button to Sign Up automatically using your email.
That’s all! You’ve created your Coinrule account.
Setting Up Coinrule Crypto Trading Bots with Exchange
To set up an exchange, log into your Coinrule account.
Tap on Exchanges on the Menu button bar and click Exchanges.
Select your preferred exchange account.
In the pop-up dialog tap on Connect (one click)
You’ll be redirected to your exchange account login page. Log into your crypto exchange account to connect Coinrule to your account automatically.
That’s it! You’ve connected the Coinrule bot to your exchange profile.
Trading Experience/Using Coinrule Crypto Trading Bot
The Coinrule crypto trading bot is seamless to connect to your exchange (can be done in under 5 minutes). It also supports a large selection of templated trading strategies as well as the ability to edit all strategies and create custom ones.
Coinrule bots can also execute advanced strategies. That said, customers have stated that the trading bots behave erratically as some rules trigger unexpectedly.
There are also complaints about the Backtesting feature, which is generally acclaimed to be unreliable.
Coinrule Review: Security
Coinrule is a secure automated trading platform with several security measures in place to ensure a secure trading environment.
In terms of funds security, Coinrule does not have any withdrawal permissions for the funds on your exchange accounts. All API keys with withdrawal permissions are rejected by the system.
Coinrule uses data encryption in transit. This means that all communications between the web app, application backend, and database/ cache nodes are encrypted with TLS 1.2 or higher.
All API keys are stored in encrypted form (256-bit AES encryption).
They are encrypted with private keys that are generated separately for each user. These private keys are stored on detached data storage which is also encrypted with 256-bit AES encryption.
To prevent any internal leaks, none of Coinrule’s developers have access to the database where the API keys and encryption keys are stored.
Coinrule uses Recaptcha V3 for all authentication requests, this prevents hackers from having direct access to Coinrule’s authentication API endpoints.
For extra protection, It uses Cloudflare CDN against DDoS and other types of attacks. It also uses different layers or rate limiting on its authentication endpoints to prevent dictionary and brute force attacks.
Coinrule users can protect their accounts by ensuring that both their exchange profiles and Coinrule accounts are protected with a strong unique password and two-factor authentication.
Customer Service
Coinrule offers customer support via email at support@coinrule.com. The average response time from the customer support team is within 2 hours.
Coinrule also has a Help Center and an Academy where users can learn all they need to about automated trading and the crypto market.
Does Coinrule Offer Education?
Yes, Coinrule offers a large resource center and blog that covers topics related to automated trading, advanced trading tools, and much more.
Coinrule Review: Final Thoughts
Coinrule excels in offering an automated trading bot platform that makes creating and running crypto trading bots seamless. That said, the platform received various complaints about erratic trading bots and poor customer service.
While its highest plan gives you access to unlimited exchanges, it is more expensive than the industry average.
The crypto trading bot world is filled with diverse platforms. While Coinrule offers a range of tools, our Quadency Bots review sheds light on another leading contender. For a bird’s-eye view of the industry’s top bots, our Best Crypto Trading Bots page is a must.
FAQ
Most frequent questions and answers
Coinrule offers a free plan that you can use instead of subscribing to a paid package.
Coinrule was founded by Giberstein and Gabriel Musella.
Coinrule profit varies depending on the particular strategy you choose. That said, there are also reports of losses using Coinrule.
Yes, Coinrule works with Coinbase Advanced (formerly Coinbase Pro).
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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