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For cryptocurrency traders who have little to no experience with the crypto market, automated crypto trading programs are a lifesaver. Automated crypto trading involves using software and algorithms to buy and sell cryptocurrencies. Trading tools like Coinrule facilitate automated trading and allows users to set their own rules by incorporating the best crypto trading bots and templates. This Coinrule review covers the origin, pricing, supported exchanges, unique features, and pros and cons.
Coinrule is a great way for retail investors to take advantage of the cryptocurrency market by using powerful algorithms and trading bots to generate potential profits using over 250 automated rules. As well as being easy to use and highly customizable, the benefit of Coinrule is that it doesn't require users to have coding experience or a deep understanding of how crypto trading bots work.
On the downside, the list of supported exchange APIs falls short compared to its competitors and does not have a mobile app to monitor the performance of the bots 24/7. Despite this, Coinrule is one of the best places to trade crypto with bots and is geared toward beginners and intermediate traders.
- There area zero trading fees. Instead, traders are charged low monthly subscriptions
- Reasonable lineup of supported crypto exchanges that includes the major platforms
- Process of deploying automated rules is straightforward
- Features 34 top-ranking crypto trading bots (more than others)
- Includes a full-featured demo exchange to simulate automated trading rules
- Does not support decentralized exchanges like PancakeSwap
- Only supports 40 cryptocurrencies out of the 2,000+ on the market
- API integration with 15 exchanges only, some notable omissions such as Gemini and country specific-platforms
- Does not have a mobile app to keep track of automated rules and strategies
Coinrule At A Glance
Coinrule is an automated web-based cryptocurrency trading platform that allows investors to optimize their crypto trading experience. It was launched in 2019 and aims to provide regular traders with advanced trading tools and templated trading strategies available to hedge funds and corporations. While this sounds like an advanced platform, Coinrule takes out the complexity in auto trading making it suitable for beginners as well. There are over 150 trading strategies that can be applied to test and track their performances in real-time.
Unlike a traditional crypto exchange, Coinrule uses an API to connect with supported platforms such as Binance, Coinbase Pro, Kraken, and many others. This means users will not pay any trading fees using Coinrule, however, a transaction cost will be incurred with the connected exchange. In addition, Coinrule does not integrate with decentralized exchanges like PancakeSwap or Uniswap.
|Year of Launch||2019|
|Supported exchange APIs||Over 15 including Binance, Coinbase, OKX, KuCoin, Kraken and others|
|Number of trading bots||34+|
|Demo exchange to test bots||Yes|
|Pricing||From $29.99 to $449.99 per month|
How Does Coinrule Work?
Coinrule is an automated trading bot that requires input from investors to generate results. The trader has to connect the crypto trading bot to an exchange using an API key. This is the first step, granting the automated bot authority to execute trades according to investors’ preset parameters and creating trading strategies.
For instance, when a user connects the Coinrule platform to, say, Coinbase Pro, the exchange’s API keys are inserted on Coinrule. When the API keys are inputted, the Coinrule platform executes the trades based on preset commands, and consumers can easily withdraw their profits into the exchange. Importantly, the API access does not give Coinrule the right to withdraw, transfer or access the user’s private keys.
For its operation, Coinrule works using what it terms the IFTTT model. This stands for If This Then That. This allows traders to explicitly state the conditions the trading bot should work with in executing trades. If the conditions are met, the bot executes those trades on the underlying exchange; if not, the command remains dormant. This gives investors a level of control over the automated trading activities of the automation software.
Coinrule Comparisons and Alternatives
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|20% trading fee discount||Visit Pionex||Pionex Review|
|None available at this time||Visit TradeSanta||TradeSanta Review|
|Unlimited via exchange API||None|
|None available at the time of writing||Visit Bitsgap||Bitsgap Review|
Review of the Top Features on Coinrule
Cryptocurrency trading bots
Trading bots are specialized tools for identifying profitable trades. Coinrule comes with a decent lineup of automated trading solutions. The platform has up to 34 automated bots to choose from, including Bollinger Bands, Golden Cross Trading, RSI Scalping, Multi Moving Average, Range Trading, and Oversold Reversal, amongst others. There are pre-built trading rules that can be selected from the template library which includes 22 pages of different strategies to choose from. There is a good selection that can be tested on a free plan, others need to be unlocked with a paid subscription.
Here's a quick summary of some of the trading bots available on Coinrule and their unique features.
- Grid range trading. Allows investors to buy cryptocurrencies at particular price ranges for a set period.
- The Bollinger Bands. Let users know the value of price levels. The bot automatically initiates trades when they are most profitable.
- Golden Cross Trading. Tracks the interaction of two moving averages and helps the trader identify a shift in the trend direction.
- Buy low and sell high. Create a rule to buy a specific crypto when it falls below a specific threshold.
Any trader can use Coinrule’s trading bots. However, beginners may need to familiarize themselves with technical indicators and technical analysis to benefit from them. Compared to its peers, Coinrule’s trading bots hold their own. They optimize the profitability of traders without making it complex.
Demo trading mode for automated rules
Coinrule is aimed at beginners and includes a demo account to create new automated rules and strategies. Users can also practice their crypto trading skills with a demo trading account that offers 10 BTC and 50,000 USDT and explore and experience the range of strategies that can be customized. The major benefit is the ability to perfect a custom trading rule to monitor its performance over time without losing any money. However, the demo performance can vary from an actual exchange.
Coinrule offers direct exchange integration via API keys. The automated trading bot platform supports over 15 exchanges ranging from five top A-list exchanges to more sublimed options. However, there are noticeable exceptions like US-based Gemini and Huobi Global. Coinrule does not integrate with leading crypto margin trading exchanges such as ByBit and Deribit which is a limitation.
Also, the Coinrule platform does not support decentralized crypto exchanges and automated market makers like UniSwap and SushiSwap. The list of supported exchanges at the time of writing is below:
- Coinbase Pro
There are three major options - Rules, Exchanges, and Settings. The Rules tab is the home page, showing all the IFTTT rules investors can use to implement their own automated trading rules and processes. Users can also select between demo and live trading here, set their preferred exchange, select the coin(s) they want to trade, and even set a ‘Buy’ or ‘Sell’ order.
Exchanges display all supported trading platforms and the user’s trading accounts on the selected one. While the Settings tab contains all the tweaks and user-based preferences.
When it comes to creating rules on Coinrule, it is a whole new experience in and of itself. Users can kickstart the process by tapping on ‘Rules’ on the sidebar and click on ‘Add Exchange’ if there is none on the drop-down menu labeled ‘Demo Exchange.’
The next step is to select between ‘Event,’ ‘Timer,’ and ‘Direct Order.’ Beginners can use the first two options as it only requires them to follow the IFTTT model. However, the ‘Direct Order’ requires more specific buy and sell commands for the trading bot to execute trades.
The final step is selecting the timeframe to execute the trade and how often the trading software should iterate that command. Once this is done, the user can either name the trading strategy or launch it immediately. The performance and history of the rule are displayed to monitor its progress, which can also be exported to CSV file.
Coinrule has 3 paid-price categories for traders to choose from. The first is the hobbyist which caters to more retail-focused investors. This comes with limited features and a smaller subscription requirement. The next two options charge more and offer more flexibility in features. The pricing is similar to other bot trading platforms like 3Commas and Bitsgap which have similar features.
|Coinrule Pricing Plan||Fee||Features|
|Starter||Free||2 Live Rules, 2 Demo Rules, 7 Template Strategies, 1 Connected Exchange, Up to $3k monthly trade volume|
|Hobbyist||$29.99 per month for annual fee, or $39.99 monthly fee||7 Live Rules, 7 Demo Rules, 40 Template Strategies, 3 Connected Exchanges, Up to $300k Monthly trade volume, Leverage Strategies, etc|
|Trader||$59.99 per month for annual, or $79.99 per month||15 Live Rules, 15 Demo Rules, Unlimited Template Strategies, Up to $3M Monthly Trade volume, Live Telegram Notifications, TradingView Integration, and others|
|Pro||$449.99 per month for both monthly and annual plans||50 Live Trading Rules, 50 Demo Rules, Unlimited Templates, Unlimited Exchanges, Unlimited Trade volume, Telegram + Text Notifications, One-to-One Training Sessions, and more|
Coinrule takes security seriously and does not store customers’ funds and personal details like names and passwords. The platform offers two-factor authentication (2FA), requiring all investors to verify a six-digit code sent to both their mobile numbers and an authentication app like Google Authenticator.
Moreover, the platform encrypts all API keys using 256-bit Advanced Encryption Standard (AES) encryption coupled with Transport Layer Security (TLS) 2.0. This ensures only the authorized user can automate trades on the Coinrule platform.
Coinrule's customer support is quite responsive. This is highlighted in the plethora of online reviews from third-party sites like Trustpilot. For instance, the Trustpilot review shows that 78% of users gave Coinrule a 5-star rating, with only 11% having negative feedback. A huge portion of the reviews commended the support team for their prompt response.
Meanwhile, customers can connect with a chatbot or the support team on all popular social media networks like Twitter, Facebook, and Instagram. Several users commended the bot as an intuitive and resourceful platform. Overall, Coinrule secured a 4.2 rating out of a possible 5.
Frequently Asked Questions
Coinrule offers a decent lineup of exchanges and features that makes it a good option for automated trading of a portfolio. Nevertheless, its limited coin support makes it unsuitable for sophisticated investors. Platforms like Shrimpy thrive in this regard as they connect to DEX platforms like UniSwap for more extensive trading options.
Coinrule offers a free version, but it is limited in features and functionality without a paid-plan subscription. The plans cost a minimum of $29.99 up to a maximum of $449.99. Coinrule does not exert any other fees on customers such as exchange trading fees.
Based on several Coinrule reviews and comments, we believe it is a legitimate trading platform. However, crypto trading is risky, and traders should properly manage their portfolios and have a trading strategy.
Coinrule is located in London, United Kingdom (UK). It is a duly recognized business enterprise.
Final Verdict and Rating
In short, Coinrule is a reputable platform for automated crypto trading bots that enables retail investors to access sophisticated and advanced trading strategies and rules used by institutions (without the complexities). A full demo mode and free automated crypto rules are highly useful.
However, we found the platform lacks an extensive lineup of crypto exchange support, and without a mobile app, it makes it very difficult to monitor the automatic trading bots 24/7 and on the move. It is a bespoke platform that is suited to individuals that want to experiment with creating specific trading strategies only.
|Review Criteria||HedgewithCrypto Rating|
|Features||4.8 / 5|
|Supported Fiat and Deposit Methods||2.5 / 5|
|Supported Crypto & Trading Pairs||5 / 5|
|Fees||4.8 / 5|
|Ease of Use||4.9 / 5|
|Customer support||4.7 / 5|
|Security Measures||4.8 / 5|
|Mobile App||2.5 / 5|