If you’re a Bitcoin or Cryptocurrency trader, you are no doubt struggling with the multiple exchange issue.
Yes, trading cryptocurrencies is a pain!
Buying one crypto on a single exchange is simple, but when you start buying several, not all cryptos are available at the same exchange.
So you keep having to jump from one exchange to the next. Different logins, several passwords, two-factor authentications, different interfaces, different charting tools, what a huge time waster!
On highly volatile markets such as cryptos, time is essential. A few seconds or minutes lost and you could lose significant opportunities (or just get wiped out…).
Now one platform solves that completely, that’s Coinigy: by far the best bitcoin and crypto trading platform all around.
What is Coinigy?
Coinigy is a multi-broker platform that lets you trade Bitcoin or cryptos from one single account. It is also an incredibly powerful charting and analysis tool.
45 exchanges can be traded from your account on a single platform, available both on desktop and mobile (Android for the time being). See the list of exchanges here.
You get access to automatic exchange balance tracking, automatic wallet balance tracking, order placing directly through Coinigy, and many other features.
Coinigy is based in the US in Milwaukee. It was founded by Robert Borden and William Kehl, who launched Coinigy in 2015 with about $100,000 initial funding. In 2016, they raised $400,000 from one angel investor.
If you want to know more about them, they can be contacted on +1.414.301.2289.
The platform has around 80,000 users (of which around 20,000 paid users) and is growing fast. It is one of the most promising companies in the digital currency space.
What tools does Coinigy provide?
With Coinigy, you can connect to your different exchanges using their APIs.
That means you can trade all your accounts from one single interface, a fantastic benefit. No more hoping from one exchange to the next. It is 100% encrypted and 100% secure, and their data feeds are excellent.
Charting tools are second to none, taking from the widely acclaimed tradingview.com interface, well known by stock, forex and index traders all around.
Functionalities available at coinigy include:
- Trading from 45+ exchanges (list here)
- Coinigy for Android lets you trade all your cryptos directly from your mobile handset (ios is coming)
- 24/7 wallet and exchange security monitoring
- The platform is cloud based and enjoys 99.9% uptime
- More than 75 technical indicators available (including Ichimoku,
- Direct trading from the charts
- Price alerts available via SMS, e-mail or embedded in-browser
- A real-time API connecting to your accounts and providing your historical feed
- Many apps and third party integrations (plugins) giving you multiple options to access your accounts
Which Apps & Plugins does Coinigy offer?
Coinigy Mobile allows you to trade from the palm of your hand with a dedicated mobile app.
It is currently only available on Android but the iOS version is announced.
The app will enable you to check balances, get prices, study quotes and even monitor your trades straight from your mobile.
When markets are volatile the Coinigy Mobile App can really provide a useful on-the-go tool to catch the best opportunities.
Coinigy also offers Google sheets plugin. That is one tremendously useful tool!
By linking your account with your API keys, you can keep track of your trading in Google sheets and get updated info on your bitcoin and cryptocurrency balances automatically.
Another useful plugin is the CryptoTicker browser extension for Chrome and Firefox, enabling you to keep track of the prices and latest charts of tour favorite cryptos straight from your web browser.
And there’s a host of other apps available:
- Coinigy ArbMatrix allows you to identify cross exchange arbitrage opportunities.
- The Bitcoin Chart Scanner that will help you spot instant trade opportunities
- The SocialScanner will help you keep track of trending cryptos, breaking news and get feedback from the Community
What about security?
Coinigy is serious about security. Here are some of the security features they offer:
- No funds are stored at Coinigy, so they never handle your funds directly
- The platform has AES 256-bit Encryption
- Coinigy runs on a multi-tiered server architecture, hosted in Google’s datacenters
- Enterprise grade support
- Websockets API
Every request that goes to Coinigy goes through a secure SSL, it supports two-factor authentication (2fa) and U2F (Universal Second Factor).
The API accounts are stored with very strong encryption and never stored or displayed anywhere in an unencrypted format.
10 easy steps to connect your exchange API account in Coinigy
One of the first steps you have to take once you access the platform, is to connect your exchange account in order to see your balances and start trading the available cryptos on that exchange.
Here are the ten steps you have to take to add your API exchange account:
- Go to the accounts tab in Coinigy
- Select ‘Add exchange account’
- Find the exchange you want to connect to in the drop down list
- In another tab, head over to your exchange account and locate your API keys (usually in the settings menu). For example in Bittrex, click ‘settings’ and ‘API keys’
- Usually you should have an option to ‘Add new key’
- That key will have a number of options, to allow trading, balance check, funding, so click on the options relevant to you (the operations you want to be able to perform in Coinigy)
- Next, copy-paste your API keys in Coinigy (API key + Secret key)
- Give your API a nickname, keep it simple
- Click confirm
- Tick the ‘trade’ checkbox if you want to allow trading on that exchange
You’re all set, now you can head over to the ‘Balance’ menu in Coinigy, refresh and check that your balances are showing correctly.
How to make a trade in Coinigy?
Once you’ve setup your exchange accounts, you’re ready to start trading.
The platform has a lot of menus and options, all that might seem a little confusing, so how are you going to do that?
It’s actually quite easy, follow these simple steps.
Let’s say you want to purchase Litecoin from your Bittrex account (using your Bitcoin balance):
- Select BTRX (code for Bittrex) on the exchange list on the left
- Then select LTCBTC in the list of available cryptos – you want to purchase LTC (litecoins) by using your available BTC (bitcoins) balance
- Click on the ‘Trade’ tab in the box on the right
- Select the BTC balance (see picture below)
- Then use the slider on the graph to position your trade at the price level you desire
- Input the quantity you want to purchase in the relevant box on the right
- Confirm the trade
Before you do anything, please remember that trading is a risky activity, and crypto trading is a VERY risky activity. Just make sure you understand what you are doing before you place any trade, or you could quickly lose all your hard earned capital.
Volatility is extreme on all cryptocurrencies, and it is not uncommon to see days with swings of up to +/- 30%.
So stick to the fundamental rules of trading: first, always trade with money you can afford to lose (and on cryptos, I mean lose it all). Second, make sure you have a solid Money Management in place, meaning you understand the risk-reward ratios behind each trade, and the placement of stop-loss orders along with limit orders.
I have been trading for a long time, forex, stocks, indexes and now cryptos. I’ve seen many generations of tools and platforms and the evolution has been staggering.
With Coinigy, you now have access to an extremely flexible, user-friendly, secure and powerful platform to have all your crypto trading in one place. It is THE one-stop crypto trading platform.
I highly recommend it to those of you who want to spend more time thinking about your trading and less about navigating your different broker interfaces.
I also recommend two other Bitcoin and crypto analysis tools, you can read about them here.
If you’ve tried Coinigy out please give me your feedback, I’d love to know what you thought of the platform? how does it compare to others? is there a better one out there?
Thanks for sharing and safe trading to all.