As cryptocurrency becomes more mainstream, traders with a background in traditional finance are looking to use their knowledge in a new domain.
And software like Coinrule is making it easier to trade using logic and rules in the world of cryptocurrency just as traders have long done with stock market assets.
Before you start using a logic-based trading software like Coinrule, there are a few things you should know about it. We explain how it works and how it compares to similar apps.
10+ supported exchanges
Pros And Cons
What Is Coinrule?
Founded in 2017, Coinrule is a web-based software designed to make it easy for crypto traders to design and deploy trading algorithms on public crypto exchanges. Users need to understand logical programming rules and have a basic understanding of APIs, but it's generally a code-free way to create your own AI.
This technology makes it much easier for blockchain enthusiasts to participate in the “price-making” mechanisms that are so ingrained in conventional financial markets.
Coinrule allows users to generate demo rules, where rules aren’t deployed, but “profitability” is tracked relative to performance. And it also allows backtesting through its integration with TradingView.
What Does It Offer?
Coinrule is a web-based software designed to make crypto trading easy. Users create logic-based rules that can be deployed on 10+ different crypto exchanges. The rules execute automatically using funds in an exchange-connected wallet.
Traders with a background in stocks and options will recognize many of Coinrule’s features which heavily draw from the world of technology and AI-based trading in traditional financial sectors.
Create Trading Rules Using If-Then Logic
Coinrule allows crypto traders to create trading rules based on if-then logic. The software offers plenty of technical indicators, so investors can base their rules on just about any trading strategy. Coinrule users don’t need to know formal coding to create their trading rules.
Test Strategies With Demo Rules
Users can see the performance of their rules by implementing a demo rule on the Binance exchange. Demo rules don’t execute with real tokens so they allow users to study their rules without implementing them.
Access Robust Deployment Instructions
Coinrule gives users step-by-step instructions on how to connect their trading strategies to each of the supported exchanges. You don’t need to know how to code. You just have to follow instructions.
Trade On Up To Ten Exchanges
Coinrule’s bots can be deployed on 10+ crypto exchanges including Binance, HitBTC, Coinbase Pro, OKex, Bitstamp, Bittrex, Poloniex, Kraken, Bitmex, and Bitfinex. Rules can even attempt to arbitrage between the exchanges, though this is difficult to do successfully.
Try Coinrule For Free
Coinrule users can deploy up to two demo rules and two active rules for free. The free Coinrule platform allows users to trade up to $3,000 in monthly trade volume.
Use Or Modify Trading Templates
Traders with a background in options, commodities, or stocks may quickly adapt their trading strategies to the crypto world. However, users who are less familiar with trading may benefit from Coinrule’s “templates.”
These templates show the rules used to execute more than 150 different trading strategies. Traders can adopt and transform these templates to build customized trading bots. And you can test your customized strategies against historical data.
Are There Any Fees?
Coinrule offers a tiered pricing structure. Its Free platform allows users to deploy two real trading bots and two demo bots. Users are limited to $3k in monthly trading volume. Only one exchange can be connected on the free plan.
You can save up to 25% with Coinrule by choosing to pay your subscription costs annually instead of monthly. Below you can see the pricing and some of the benefits of Coinrule’s various service levels.
Coinrule Plans, Pricing, And Features
Rules and Templates
2 Live Rules + 2 demo rules
7 Live Rules + 7 demo rules
15 Live Rules + 15 demo rules
50 live + 50 demo rules
How Does Coinrule Compare?
Coinrule is one of many trading bots that have burst onto the scene over the past five years. Many of the most popular bots require traders to have basic development skills (especially using Python). But Coinrule requires no coding beyond connecting to a public API. CryptoHero offers even easier-to-use rules creation but doesn’t seem as secure.
CryptoHopper is another no-code trading app that may offer better value than Coinrule. CryptoHopper’s platform already has backtesting available, and the pricing is somewhat stronger than Coinrule’s.
At this point, it looks like Coinrule is trying to dominate the space for crypto traders with a stock or options background. The visualizations, templated strategies, and language on the site are all borrowed from traditional trading. Users with a background in trading are sure to feel immediately comfortable in the software.
$0 to $449.99/mo
$0 to $29.99/mo
$0 to $99/mo
$0 to $499.99/mo
$0 to 299.88/yr
$0 to $999/yr
Web, iOS, Android
Web, iOS, Android
How Do I Open An Account?
Users can create a Coinrule account with just a personal email or Facebook account. Once you sign up, you’ll have access to the Coinrule account and software. Coinrule doesn’t request payment unless you upgrade to a paid account.
Payments for Coinrule are authorized using Stripe, a payment processing platform. To effectively use the trading platform, you'll also need to have a software wallet on one of the hosted exchanges.
Is It Safe And Secure?
Coinrule works to keep your information and cryptocurrency as safe as possible. It encrypts information in transit and at rest and creates dedicated private keys for each user. The site also relies on users to set up their API connections to prevent Coinrule from ever making withdrawal requests from the account.
The only downside to Coinrule’s trading bots is that the crypto must be hosted in an exchange wallet for Coinrule to execute trades. This can put tokens at an increased risk of theft due to hacking.
How Do I Contact Coinrule?
Coinrule is headquartered in the UK. Its primary address is Suite 6, 2 Fisher Close, London, SE16 5AE, UK.
Users looking to contact the company can email customer support at [email protected].
Coinrule’s primary site also offers a chatbot that directs questions to customer support representatives. The chatbot is enabled for 24/7 support but is only staffed by humans on weekdays.
Is It Worth It?
Coinrule makes crypto trading more accessible to everyday people. If you enjoy trading, Coinrule could be a great way to implement disciplined trading strategies specifically designed for cryptocurrency.
However, I do worry that bots that make it too easy to trade will cause investors to over-trade and under-profit thanks to the constant payment of exchange fees. However, this sentiment is true regardless of the trading platform.
The pricing does seem a bit high, especially when compared to some of Coinrule's top competitors. However, stock and options traders will take to the platform easily. That makes it an easy-to-use platform for someone who already has trading experience.
Algorithmic crypto trading
$3k to unlimited
7 to unlimited
Only for Pro users
Personalized Template Strategies
Only for Pro users
Dedicated private keys for each user
Mobile App Availability
Customer Support Options
Email and chatbot
Customer Support Email
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.