Is Coinrule Trading Robot Safe? – A Scam Assessment

Forex Fraud Analyst Team

is coinrule trading robot safe

If you’re an online crypto trader, you may already know that the industry is prone to scams, which take many forms. While there are plenty of safe trading robots, there are also some you’ll want to avoid. Legitimate trading robots can help traders make more successful trades without spending so much time watching what the markets are doing, but some systems are, without doubt, better than others. So, is Coinrule legit? Or is it one of the scam trading robots?

What is Coinrule Trading Robot?

Coinrule is a service that provides crypto traders with an automated smart trading bot that allows them to compete with professional traders and hedge funds. The software enables any trader to set custom automated trades that will potentially help them to trade more successfully. Traders can choose from more than 100 rules that they can apply to trades and can also create their own rules.

The firm is run by an experienced team of blockchain and crypto enthusiasts who found that trading cryptocurrencies could be unnecessarily complicated for beginners. They decided to try and make it easier via automated trading. The team is headed by CEO Gabriel Musella and includes COO Oleg Giberstein and CTO Andrew Salvadore.

It is possible to try Coinrule for free, with two live rules, two demo rules and up to $3,000 monthly trading volume. There are also paid plans that require a monthly subscription and give you access to more rules and other features, plus a larger monthly trading volume.

What does Coinrule Trading Robot Offer?

Coinrule offers a way for even inexperienced traders to get started with trading cryptocurrency across a variety of platforms. Traders can create rules based on popular indicators, with new indicators added every week, then set their account up to trade automatically, with specific actions triggered when specific market changes occur.

There is no code required, and the process is not complicated. The system allows for automatic trading strategies based on “If-This-Then-That” principles, so no technical skills are required. You simply set your account to act when a specific market condition is reached.

The system integrates with several popular crypto trading exchanges, including Coinbase, Binance, Kraken and Bitstamp. Coinrule effectively allows you to set up trading executions that you may have wanted to set up directly on cryptocurrency exchanges but generally can’t due to their limited interfaces. Once rules are set, they run 24/7 until you decide to adjust them.

All traders receive free trading signals, which they can use to create automated rules and manage their portfolio. Coinrule also allows you to backtest trading rules and strategies to see how they would have worked, given prior market conditions before you launch them.

In the Coinrule dashboard, you will find a list of all your rules. Switching rules on and off is as easy as pressing pause on a live rule or pushing play on a rule you have set up but are not currently using. The dashboard is also where you can see the performance of the rules you currently use or have used in the past.

Is Coinrule Trading Robot Regulated?

As most crypto traders will be aware, the crypto industry generally tends to lack regulation, which is typically a part of the attraction for those who like to operate outside the established banking system. When it comes to crypto trading robots such as Coinrule, there are no regulatory requirements for providers. Therefore, traders should be aware that this service does not fall under the authority of any national or international regulating body.

Is Coinrule Trading Robot Safe?

Whether Coinrule can be considered safe depends on what your definition of ‘safe’ includes. Generally speaking, the site is safe and secure, with several encryptions in place to protect platform users. Coinrule stores API keys with 256bit AES encryption, with dedicated private keys generated separately for each user. It is important to note that Coinrule itself does not handle your coins. They are still bought, sold and stored via the crypto exchange and wallet you choose to use, so it is essential to ensure that you select secure exchanges and storage options for your crypto assets.

As a crypto trader, you must recognise that trading digital currencies is a complicated and potentially high-risk form of investing. Even though we consider Coinrule safe, that does not mean you are protected from losing money. The volatility of the crypto markets means that the potential for both big wins and big losses is always there.

All crypto traders should use caution and discipline when investing in crypto assets and when using automated tools such as trading robots as part of their strategy. It is not unusual to lose money when trading crypto, and there is no way that any system or trading bot can fully guard against that. Wise crypto investors never invest more than they can afford to lose and know that no tool or system can guarantee a profit.

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    As our CoinRule review has demonstrated, this is a legitimate automated crypto trading system that will appeal to various crypto traders at all levels. The system is simple to use and has a good and ever-expanding choice of rules to allow you to try different strategies. The dashboard is a clear and user-friendly interface allowing you to easily test different rules and see how they might work for you.

    We also like that the system integrates with several top crypto exchanges. If you are interested in the Coinrule trading robot, we advise you to try it out for free first to see if it suits you before committing to a monthly subscription. Just be aware that the free version is quite limited in the number of rules and features available.