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A very significant and notable characteristic of cryptocurrency is its volatility. The factor of crypto’s price dropping and rising with every passing minute and the overall dynamic response of the asset to the market makes it a task in itself to keep a track of them. 
This is where trading bots and automated trading systems have made a place for themselves. 
Coinrule is one such trading bot. Let us find out what it is, its application, possibilities, utility, downsides and whether or not you should use it to make profits in 2023.
<img decoding="async" loading="lazy" class="size-full wp-image-21818 aligncenter" src="https://cryptobullsclub.com/wp-content/uploads/2022/12/Coinrule.png" alt="Coinrule review" width="638" height="431" />
<h2 id="span-data-preserver-spaces-true-what-is-coinrule-span">What is Coinrule?</h2>
According to their website, Coinrule refers to itself as a “smart trading bot for cryptocurrency platforms, allowing you to take full control of your crypto trading while being able to fight back hedge funds with automated bots”.
To oversimplify things, Coinrule does the crypto trading for you.
Coinrule can be employed by you to automate your investment across multiple platforms; without you having to write any code or employ any specialized traders to assess, track and invest in the market.
But it is not be confused with or as an exchange platform. Coinrule is more like a third party, that applies its algorithms to track and invest according to specifications set by you, to trade cryptocurrencies on the crypto exchange of your choice. 
<h2 id="span-data-preserver-spaces-true-why-use-coinrule-span">Why use Coinrule?</h2>
COinrule or any automatic trading bot for that matter lets you-
<h3 id="span-data-preserver-spaces-true-trade-24x7-span">Trade 24X7</h3>
On the basis of commands and parameters set by you, the trading bot will automatically trade and deal in the market, without the need for you to asses things continuously. It enables you to catch any change in the highly volatile market where there are even multiple changes happening within an hour. 
<h3 id="span-data-preserver-spaces-true-takes-out-the-emotion-span">Takes out the emotion </h3>
Again a common factor for all automated bots, Coinrule also takes out the element of fear or overthinking out of trading. All its commands are set in advance and all its trading decisions are made on the basis of data. 
While it is debatable, whether the humane element of “gut feeling” and emotions are really a huge negative, they have had their place in making the right decisions when it comes to risk assets, the inception of cryptocurrency being an example in itself. 
<h3 id="span-data-preserver-spaces-true-backtesting-feature-span">Backtesting feature</h3>
Coinrule offers you a backtesting feature for your strategy which will help you show how the strategy that you will plan and implement for your future trading choices, will turn out with past trading trends. To help you fix the loopholes and make possible developments.
<h2 id="span-data-preserver-spaces-true-how-does-coinrule-work-span">How does Coinrule work?</h2>
<h3 id="span-data-preserver-spaces-true-setting-up-coinrule-span">Setting up Coinrule      </h3>
Coinrule is a software that will trade in crypto on your behalf, for which you would need to initially link it with the crypto exchange platform of your choice, i.e., Binance, KuCoin, etc. This link-up is done securely with a distinct API (Application Programming Interface) Key that is generated and used. 
The next step is to choose the crypto exchange of your choice from Coinrule’s list of platforms. Coinrules host the world’s top 10 crypto exchange platforms on its site, including- 
<ul>
<li>Binance</li>
<li>HitBTC</li>
<li>Coinbase Pro</li>
<li>OKEx</li>
<li>Bitstamp</li>
<li>Poloniex</li>
<li>Kraken </li>
<li>Bitmex </li>
</ul>
Once you made your choice and synchronized your exchange of choice with Coinbase you can move towards setting the specifics for your trading journey.
<h3 id="span-data-preserver-spaces-true-choose-an-account-package-span">Choose an account package </h3>
Coinrule has different user account packages, more information about which you will find further below in this article, but in a broader sense, you can trade on the platform for either free or choose from their range of paid packages. And obviously, paid packages carry their own specific benefits and privileges. 
But it is not necessary for you to buy a package until you are required to, the factors here being your trading experience, goals, economic parameters, and investment capability. 
<h3 id="span-data-preserver-spaces-true-select-and-modify-a-strategy-template-span">Select and modify a strategy template</h3>
This is the phase where you start making choices that will impact and decide what and how your trading experience will be and whether and how much profit you will be making. 
Trading in crypto, stocks, or any other risk assets requires an elaborate understanding, reading, and prediction of trends to decide what, how, and when the assets should be dealt with. 
Over the ages, a wide range of strategies has been built up on the basis of patterns and trends that have in a large sense assured a particular kind of output when applied. These strategies include “Buy the dip”, “Cath the price swing”, and “Buy the uptrend flash crash” to name a few. 
Coinrule has organized these strategies into what they refer to as templates and provides 150 of these templates for their users to choose from. These templates can be chosen on the basis of market experience, market knowledge, the risk-to-rewards ratio, and so on. Users can also select a template and customize it according to their will. 
The employment of these templates is basically placing commands and instructions to the trading bot as to how you want it to trade crypto with your money. When you configure and set the conditions as to when to buy and sell or hold, it deploys the algorithm and rule-based bots to execute options. 
So here you can program the bot to conditions in an “if this happens, do this” format, having as much control and faculties on the trading strategy as you want. You can also decide how many times you want the particular pattern to repeat itself and under what criteria.   
<h2 id="span-data-preserver-spaces-true-features-span">Features</h2>
<ul>
<li>Coinrule can be accessed and used from any browser.</li>
<li>Its order execution window is rapid and efficient, with order placements in around 500 milliseconds.</li>
<li>Its support team is efficient, with a live chat facility and a 24X7 helpdesk. </li>
<li>Coinrule has a dedicated external storage system for the private key. </li>
<li>Offers a secure authentification gateway parlor using UKey-1.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-packages-and-pricing-span">Packages and Pricing</h2>
Coinrule offers a free package for its users, to initiate their trading experience. Apart from that following are the rest of the packages they offer to their clients. 
The following information has been gathered from Coinrule’s official website. 
Starter
Free
<ul>
<li>2 Live Rules</li>
<li>2 Demo Rules</li>
<li>7 Template Strategies</li>
<li>1 Connected Exchange</li>
<li>Up to $3k Monthly Trade Volume</li>
</ul>
Hobbyist
$29.99/month
$359 billed yearly
<ul>
<li>7 Live Rules</li>
<li>7 Demo Rules</li>
<li>40 Template Strategies</li>
<li>3 Connected Exchanges</li>
<li>Up to $300k Monthly Trade Volume</li>
<li>Leverage Strategies</li>
<li>Live Telegram Notifications</li>
<li>Free Access to Trader Community</li>
<li>Advanced Indicators and Operators</li>
</ul>
Trader
$59.99/month
$719 billed yearly
<ul>
<li>15 Live Rules</li>
<li>15 Demo Rules</li>
<li>Unlimited Template Strategies</li>
<li>5 Connected Exchanges</li>
<li>Up to $3M Monthly Trade Volume</li>
<li>Leverage Strategies</li>
<li>Live Telegram Notifications</li>
<li>Free Access to Trader Community</li>
<li>One-to-one Training Sessions</li>
<li>Advanced Indicators and Operators</li>
<li>TradingView Integration</li>
</ul>
Pro
$449.99/month
$5,399 billed yearly
<ul>
<li>50 Live Rules</li>
<li>50 Demo Rules</li>
<li>Unlimited Template Strategies</li>
<li>Unlimited Exchanges</li>
<li>Unlimited Trade Volume</li>
<li>Leverage Strategies</li>
<li>Live Telegram + Text Notifications</li>
<li>Free Access to Trader Community</li>
<li>One-to-one Training Sessions</li>
<li>Ultra-Fast Execution</li>
<li>Dedicated Server</li>
<li>Advanced Indicators and Operators</li>
<li>TradingView Integration</li>
</ul>
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<h2 id="span-data-preserver-spaces-true-things-to-remember-before-using-coinrule-span">Things to remember before using Coinrule</h2>
There are also certain risk elements attached to using an automated trading bot like Coinrule. These add to the already existing risk of a highly volatile crypto market. 
<h3 id="span-data-preserver-spaces-true-no-assured-margins-of-profit-span">No assured margins of profit</h3>
Trading bots automatically trade for you; that’s it, they are not magical systems that will keep creating profits in huge margins. There is no assurance or guarantee of you making profits just because you are using a trading bot. So going in, initially, at least it is advised for you to manage your expectations. 
<h3 id="span-data-preserver-spaces-true-expensive-span">Expensive</h3>
It is evident that Coinrule obviously is expensive. The limitations attached to every package and better offers on a more expensive package are obvious. 
Once you use it, and you expect considerable profit margins, you will have to buy a package to employ more strategies to hit the possibility of making more money.
The return on investment of a Coinrule package is not assured either. So it is advised you consider all pertaining factors around you before making a choice of purchase. 
<h3 id="span-data-preserver-spaces-true-tweak-constantly-span">Tweak constantly</h3>
While you can set the commands, and then let the bot do its job and not think about it, the better way would be to involve yourself, if you are looking for some steady profits or at least avoid some losses or stagnancy.
In order to see some considerable output you will have to tweak the strategy at times, depending upon how it has performed till present and what the updates in the market are that are untraceable by the data that the bot deal in, but factors like an upcoming project or announcement that can pump up or dip down the prices of the crypto you are trading in. 
<h3 id="span-data-preserver-spaces-true-monitoring-span">Monitoring</h3>
This is an obvious one, but you should make sure that you are consistently monitoring the bot and its actions to ensure its proper functioning of the same.
<h3 id="span-data-preserver-spaces-true-not-a-substitute-for-experienced-traders-span">Not a substitute for experienced traders</h3>
Sure, Automated trading bots are great tools for beginners as well as experienced traders who want to apply multiple formats of income for themselves. But they cannot be taken as substitutions for experienced traders and individuals who have built a reputation for themselves with extended periods of trading and in-depth knowledge of market trends. 
<h3 id="span-data-preserver-spaces-true-risk-of-cyber-attacks-and-scams-span">Risk of cyber-attacks and scams</h3>
While there are measures in place, it would be too optimistic not to mention the possibility of hacking or scam by the company or any external party. Given the recent circumstances where there are exchanges going under and the crypto market being under a scanner, it is only practical to consider this aspect before going into using Coinrule or any trading bot for that matter.  
<h2 id="span-data-preserver-spaces-true-should-you-use-coinrule-to-make-profits-in-2023-span">Should you Use Coinrule to make profits in 2023 ?</h2>
With all the factors, conditions, and information given above, whether or not you should use Coinbot should be a decision to be made, keeping all these and your personal factors in consideration. Coinrule is a tool and it can be used with caution and supervision. There is no absolutism when it comes to a particular case. 
So be aware, be sharp, and make practical choices.

Coinrule Review- Can this Crypto Trading Bot make You profits in 2023?

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