Coinrule Full Review: How to Use, Pricing, and More
Crypto bots such as Trality, Coinrule, or Bitsgap are there to make a profit out of trading highly volatile cryptocurrencies 24/7 without the trader’s actual presence. In most cases, crypto trading bots use the computing power of AI to monitor the crypto market and trade in case of beneficial circumstances.
Check another trading bot review: Bitsgap – Crypto Trading Bot Review by Traders
Finding a crypto trading bot they can trust is difficult for most users. The Coinrule full review will make help you to make such a decision.
Try another crypto bot: Trality – Crypto Trading Bot Review by Traders
Coinrule is a London-based crypto trading bot that helps users trade on various exchanges with customized trading strategies. Although costly, Coinrule provides excellent options that can turn the crypto trade into a serious business endeavor.
Let’s see what it’s all about.
Pros and Cons
- No hard KYC. To sign up on Coinrule web, the user must only fill in the email and set a password. Registration via Google and Facebook is also available.
2. No coding is required. Coinrule is an automated bot using the If-This-Then-That approach. Users also can use templates. Or set up their own rules of events: “If something happens on the market, then execute my order!”
3. Supported on trusted exchanges. Binance can be easily added by clicking on Coinrule’s in-app button. Other exchanges like Binance.US, BitPanda Pro, Bitsmamp, Coinbase, HitBTC, Kraken, Kucoin, Liquid, OKX, and Poloniex can be easily connected. The rules for connecting the listed exchanges can be found in the app’s step-by-step instructions. Coinrule is cloud-based and doesn’t directly access the user’s funds. It only does the trading on behalf of the user on chosen exchanges and nothing more than that.
4. Tutorials on how to create smart strategies. Extensive Knowledgebase with FAQ feature if users didn’t find the answers.
5. Demo version to test strategies. Test your strategy/use a template before it goes live in Coinrule beta version web.
6. Trading plans both for beginners and advanced traders. Hobbyist plan for $29.99, Trader plan for $59.99, and Pro plan for $449.99 with up to 25% discount for annual subscription. More on programs and their features later.
1. No mobile app. Coinrule is available only via its web version.
2. No licenses. Coinrule is a limited liability company registered in the UK and functions under the laws of the UK and Wales. Yet, it doesn’t have a license, so it doesn’t provide investor protection.
3. Pro Trading plan is quite expensive. Although it grants no limited access to trades, exchanges, and services, the $499.99 is still big compared to other crypto trading bots.
Coinrule: Sign Up and Set Up a Trading Strategy
Step 1. Sign up. Go to the official website, find the “Start Free” button, fill in your email address, set up a password, or log in with Google or Facebook.
Step 2. Confirm email address. You’ll receive an email from Coinrule.
Step 3. Connect Coinrule with the exchange(s) you use. You are already in an app; go to the “Exchanges” bar. Connect the exchange or create a new one supported by the Coinrule trading bot.
Step 4. Create a trading strategy. Go to Rules, tap on “Create a rule,” choose a “Template,” or choose your own rules. As a reminder, you always have access to Tutorials via the app’s main page.
Step 5. Test the strategy in demo mode. After choosing a template or creating your strategy, select “Launch Demo.”
Step 6. Start trading. After you see the demo results, you can apply this strategy to live trade.
Coinrule: Security and Premium Plans
The most important security measure is that Coinrule has no withdrawal permissions for your funds on the exchanges. Through Coinrule, funds can never be moved out of your wallets. Coinrule stores API keys in encrypted form (256bit AES encryption), encrypted with dedicated private keys generated for each user separately. These private keys are stored on detached data storage which is also encrypted with AES-256. Coinrule uses Cloudflare CDN as another layer of protection against DDoS and other types of attacks.
As of writing, Coinrule doesn’t have any license that would officially prove its reliability. However, it is legit as the company is registered in the UK under 11265766.
Once they create a free account, the user can choose among four plans according to personal needs and preferences.
The Starter plan is free, but its maximum monthly trading volume is limited to $3,000, the number of strategies to 7, and the number of demo and live rules to 2. With this plan, the user can integrate Coinrule with only one exchange.
With the Hobbyist plan, the user gets a $300k monthly trading volume limit for $29.99 (or $359 annually). The number of strategies they can use is 40 with this plan, while the number of live and demo rules jumps to 7. Users can connect up to 3 exchanges. Additional features are also unlocked: live telegram notifications and access to Trader Community.
The Trader plan comes for $59.99 (or $719 annually). This plan is suited for people experienced in the crypto trade, allowing a $3 million trading volume and an unlimited number of template strategies. Live and demo rules are limited to 15, and the number of exchanges is 5. The one-on-one trading sessions are another feature, except those from the hobbyist pack.
The Pro plan costs $449.99 ($5399 per year). This plan gives access to unlimited exchanges, 50 trading strategies, unlimited template strategies, and unlimited monthly trading volume.
Tips for Pros
Aside from Coinrule subscription plans, which are already high-priced, users might also have to pay some trading fees. Therefore, if a user plans to trade with high amounts, it is advisable to test strategies before letting them deal with real money.
Coinrule: Desktop Crypto Bot Review
The Coinrule web version is pretty easy to understand and work with. The app lists over 150 rules users can combine to build a coherent trading strategy. Stop Loss, Price-Based Accumulation, and trend-Following Rebalancing are only some of them. The user can easily change or pause the rules. As we said before, the creation of trading bots is available via Tutorials. Moreover, you can find in-app 24/7 support if you have a question.
Also, the app generates trading signals and emails them to the user, thus helping them make the right choices at the right moment. Another option would be to connect your Telegram code. To do that, you should go to “Settings,” then “Trading,” and enable Telegram notifications.
The demo testing feature is a great one. Before applying your strategy to live trade, you can test it within the app. With pretesting the trading strategy, users are more confident in the results.
Another trading bot with a pre-live testing feature: Cryptohopper.
Customer Support and User Feedback On Coinrule
You can contact support anytime via email, phone number, website, and web app. There is also a Support Center. If you happen to be in London, you can visit Coinrule Office. Address: Office One, 1 Coldbath Square, EC1R 5HL, London, UK
Although Trustpilot doesn’t have many reviews (only 87), many of these reviews rated Coinrule as excellent. The overall score is 4.0, ranking worthy of a trusted and reliable company.
If there are any relevant complaints, Coinrule users say that the platform is too complicated to use and not beginner-friendly.
Our Verdict: Is Coinrule Legit?
Coinrule is a customized automated crypto trading bot for beginners and advanced traders. However, users should consider that prior knowledge and experience with crypto trade and apps might be required. Beginners should learn about the platform and potential risks in advance.
Yet, if you are not experienced enough, Coinrule provides valuable features. Knowledgebase, where you can dive deep into trading strategies. Pre-live in-app testing, where you can test your strategy before launching a trade. And a Help Center with a Traders Telegram chat, where you can learn more and find the answers to your questions.
As for security, Coinrule doesn’t have access to your funds on exchanges. And it’s supported on trusted exchanges, such as Kraken, Binance, and Coinbase. Your account is secured by 2FA and solid encryption with another Cloudfare layer to protect the user from DDoS attacks.
Coinrule is most definitely a legit app that can potentially bring hefty income.
FAQ on Checking If Coinrule Is a Scam
What is Coinrule?
Coinrule is a semi-automated trading bot platform. It has existed since 2018 and is registered in London, United Kingdom.
Can I trust Coinrule?
Coinrule is a legit trading bot that offers numerous benefits. Coinrule is one of the top three crypto trading bots in 2021 by multiple crypto websites.
Who can use Coinrule?
Coinrule is an excellent option for beginners and experts. It offers a fully automated mode suitable for beginners but only partial automation for more experienced users.