Coinigy is a nice app for traders who want to monitor their
portfolio across 43 exchanges, trade on 11 of them, use TradingView charting
functionality, and put to action classic limit and stop limit orders. It offers
margin trading on Poloniex and Bitfinex and lists Binance Futures on the beta
version, however, we should face the music and admit that there are some issues
with the Coinigy app to address.
The trading terminal offers limit
and stop-limit order types. Stop-limit orders are synthetic, i.e. handled on
Coinigy servers, thus available on all exchanges. However, you won’t find not
only advanced order types such as trailing stop and take-profit/stop-loss but
even the basic market and stop-market orders, which is kind of strange for a
trading app. Also, there is no trade automation, only visualization of
potential arbitrage opportunities that are arguably not realizable via manual
trading.Coinigy monitors 43 exchanges, including Binance, Bitfinex, BitMEX,
Gemini, etc, but you can only trade on 11 of them.
Back in time - it was 2013 - the
difference in price on top of various crypto exchanges could be significant,
and a few adventurous go-getters were already doing manual arbitrage trading.
However, Borden and Kehl were among the first ones to automate the process. And
this, basically, got them terrific traction.
In 2015, they created a portfolio tracker and trading
terminal called Coinigy where you could manage all of your wallets and trade on
certain exchanges. Following their original vision, the product also offered
interesting arbitrage tools and crypto news you could utilize for trading
purposes. The original web version, nevertheless, is still good for trading,
charting, and such in-built apps as ArbMatrix, BlockExplorer, ChartScanner,
CryptoTicker, GoogleSheets, MarketWatch, NewsWire, and SocialScanner.
Long before the hype of 2017 when
Bitcoin roared across the world, programmer Robert Borden and individual
investor William Kehl from Milwaukee ganged together to code a trading
algorithm that would exploit arbitrage opportunities on different crypto
exchanges.
Trading functionality on coinigy price is mostly limited to spot
trading, however, they have margin trading available on the Poloniex exchange
and Bitfinex. As for futures trading, they have Binance Futures listed on the
beta version of the platform (V2) but not fully rolled out yet. However,
remember that this all doesn’t work with iOS.You can set order size both in base and quoted currency
(i.e., I want to buy 0.025 BTC or I want to spend $500 to buy BTC) which is a
nice touch and a highly sought-after feature by many traders.Placing an order
on the exchanges takes seconds. As soon as the order is executed, you may find
it under the tab “Orders”.
It’s possible to enable price and
volume alerts in the form of SMS, email messages, and browser notifications.
Browser notifications include price alerts in the range from an all-time high,
through a weekly low, down to an all-time low.The extensive charting
functionality is exported from TradingView, including more than 70 technical
analysis indicators.To give you a short overview, let’s take a look at
the pricing of Coinigy competitors. TabTrader’s Pro costs $10.99 per month and
$109.9 per year. Good Crypto’s price for a monthly Pro Plan is $9.99 and only
$69 for an annual subscription.
