Coinigy Review

Coinigy Review

 

Category: Cryptocurrency Trading Platform

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Security4.5 out of 5 stars
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Learning Curve3 out 5 stars
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Charting5 out of 5 stars
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Documentation4.5 out of 5 stars
Security is of utmost importance; the security team places high value in terms of the users’ privacy. Coinigy’s interface is simple and can easily be navigated by both beginners and experts. It is the only platform that uses its own charting engine. The platform, being one of the most established in the market, has a well-founded community; documentation is very reliable.

 

 

What We Like

 

 

What We Don’t Like

 

  • Security record is good
  • Interface is simple
  • Uses own charting engine
  • Well-documented
  • Portfolio Tracking – allows you to track your connected accounts’ overall portfolio performance
  • Application Programming Interface (API) Glitch – when there is an overload of Coinigy connects, API may encounter glitches
  • Significant Commitment for Beginners
  • May Be Considered Steep for Low Activity Traders

Our Coinigy review (summary of pros): Security is not an issue, the Coinigy team’s number one priority is to make sure that everything you divulge is kept between them and you; it’s not hard to believe considering that they have not once been hacked. Regarding their interface, it’s simple and friendly, there isn’t much to learn as you’ll figure out at once what you need, and want, to see. No need for TradingView, Coinigy has their own charting engine which can easily tell you where you stand. And, documentation of the platform is reliable, its community is strong and very supportive.

Our Coinigy review (summary of cons): However, when there is an overload of Coinigy connects, the API may encounter problems. Beginners will also have to commit extensively and the subscription price may be too high for low activity traders.

THINK ABOUT YOUR CRYPTOCURRENCY TRADE PLATFORM

Detailed Coinigy Review:

Part 1: The product.

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Coinigy is a well-known cryptocurrency trading platform. Robert Borden and William Kehl, two IT professionals, conceived it in Milwaukee, Wisconsin in the USA in 2014. They believed that most cryptocurrency trading platforms then were not quality automated, had poor chart features and heavy interfaces.

At first, Borden and Kehl used the invention for their own purposes. However, over time, the two stumbled upon the thought that beginning traders would be interested in purchasing their technology against other platforms and their offered exchange. This will also enable advanced traders to observe the differences between other cryptocurrency exchanges. It was then that the two shared their platform which was intended to cater to both kinds of traders—Coinigy.

In just one platform, Coinigy will be able to connect you to 45 cryptocurrency exchanges in data, charts, and orders. Whether as a beginning trader or advanced, the trading process has been simplified thanks to this platform. It also has a series of articles and videos to help educate you with the system.

According to traders who are also active on different websites, the platform has been given positive ratings. People have noted that when glitches arise, the Coinigy team respond with great speed and effort, immediately terminating the said problem and allowing the users to continue on with their business with ease.

Part 2: Who is the product for?

As mentioned earlier, Coinigy is for both kinds of traders: beginners and advanced. Even beginning traders can effortlessly use Coinigy’s exchange rates as compared to other platforms. It is also a very beneficial and opportune interface for traders with different backgrounds who need the information on the coins at multiple rates.

There are three different options when making an account with Coinigy. There is the 30 day free trial, then a subscription for $18.66 a month called Pro Trader, and lastly there is the API Developer Pro that includes all the programs of the platform at $99.99 a month.

Part 3: What’s included?

  • Privacy – no personal information is needed for verification of accounts, however, most of the exchanges that they support request for an identity verification. On the other hand, for those who prefer to be anonymous and place a high regard for their financial privacy, Coinigy is not for you.
  • Security – Coinigy takes their security very seriously. There is one setback though, since you will have to share your API keys, your accounts could be stolen via the API access in case there would be a security breach.
  • Value – for advanced traders, the fees of Coinigy are reasonable, it’s highly possible for a month’s fee to be paid for in just one trade. Beginning traders may think twice after their 30 day trial, because, as stated, subscriptions may be relatively steep.

Part 4: Overview of features.

  • Functionality – the innate interface and User Interface (UI) are intended to attract both kinds of traders. Monitoring of portfolios, the usage of charts and graphs, and integration of the API are just some of what the Coinigy platform can do. The mobile app for iOS and Android are also available in their respective stores.
  • Range of Tools – With more than 70 practical measures, the platform also lets its traders take advantage of the live data feeds due to the support of real time API. Consequently, the platform integrates a wide range of charting, live exchange rates, high frequency trading tools, and many web, desktop, and mobile apps. The platform also allows SMS and e-mail.
  • Exchange Integration – the software is connected to about 40 leading trades, allowing its traders to watch out for more than 4000 various trading pairs and coins. Binance, Coinbase Pro, Huobi Pro, Kraken, Kucoin, and Poloniex are just some of the exchanges that the traders can use to exchange straight from their accounts using API integration. Other uses can be monitoring of balances and complete charting.
  • Technology – the platform is hosted on Google’s datacenters and also utilizes the framework of SocketCluster for its apps and micro services. Real-time APIs and historical data are instantly accessed, and live data is booted by the Coinigy CryptoFeed. Not only that, the traders’ data is encrypted with AES 256-bit encryption and all requirements are scanned via (ORG) SSL.
  • Customer Support – traders are served with utmost care and respect, the team can even be contacted 24/7 through their Support Section and/or even via live chat using their accounts. The team is also very active in social media especially on Twitter (@Coinigy) and Facebook (@coinigy). There is a FAQ page in the Support Section, many video resources in their YouTube channel (Coinigy Bitcoin), and updates on their official blog (https://insights.coinigy.com/).

Part 5: Tutorial/how to use/install/get the most out of it.

Anyone can join Coinigy, especially its 30-day trial, all that is needed is your e-mail address. Although, the trial can only do so much as compared to the subscribed accounts.

There is no need to submit any data regarding Anti Money Laundering (AML) or Know Your Customer (KYC) for the verification process of Coinigy. Conversely, if you do connect cryptocurrency exchanges to Coinigy, information about AML and KYC is required. Although the requirements depend from exchange to exchange, a government-issued picture ID will most likely be necessary.

The next step is to link exchange accounts. That is, as you link your compatible exchange account, there is a variety of exchanges you can choose from and it will connect your accounts to Coinigy through API.

Now, it is possible for you to traverse the dashboard of Coinigy and chart and track a variety of more than 4000 trading pairs and coins on over 40 compatible exchanges.

And there you go, you are all set and ready to trade. Continue clicking around and circumnavigating the program and you will find that it is easy to figure out how it works. As mentioned, the help and support team of Coinigy is very active, you will not need to fret about getting lost.

Part 6: Alternatives.

Although Coinigy is reviewed as the most useful and affordable cryptocurrency trade platform, there are quite a few more platforms that can be an alternative to said program.

  1. TrailingCrypto – a unified trading platform that allows their traders to use multiple cryptocurrency exchanges in a single platform. (4.5/5 stars, as compared to Coinigy with 4.8/5 stars based on Jennifer J. Horton’s Trailingcrypto vs 3commas vs Cryptohopper vs Coinigy — Top Trading Bots Comparison)
  2. 3Commas – a trading bot that aims to improve the trading quality, that is by letting the trader to take control and use features that are needed to make the most of their cryptocurrency trading profits. (4/5 stars, as compared to Coinigy with 4.8/5 stars based on Jennifer J. Horton’s Trailingcrypto vs 3commas vs Cryptohopper vs Coinigy — Top Trading Bots Comparison)
  3. Cryptohopper – another trading bot; it scouts the market for the lowest prices before selling the trade. (3.8/5 stars, as compared to Coinigy with 4.8/5 stars based on Jennifer J. Horton’s Trailingcrypto vs 3commas vs Cryptohopper vs Coinigy — Top Trading Bots Comparison)

Part 7: Conclusion.

Despite the concerns mentioned regarding the privacy and security breach, Coinigy is one of the most helpful cryptocurrency trading platforms there is. Even though some features of Coinigy can also be found in other platforms, Coinigy is still the most reliable in terms of “completeness”—that is, it has and combines most of the systems of other platforms. Overall, we’d give Coinigy a rate of 4/5 stars.

MAKE YOUR CHOICE, CHOOSE WISELY

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