What is the Coinigy exchange?
Based in Milwaukee, in the US, the Coinigy exchange is a trading platform that is available on both your desktop and your mobile – and claims to be the most transparent way to access global financial markets. The aim of the site is to make markets open, empowering individuals to trade in virtual currency –because access is easier through the Coinigy exchange – but also because the site offers education to its 100K + users. Using technical indicators and charting, the site believes that informing traders is a key part of its role.
The Coinigy exchange allows trading on largest range of other exchanges on the internet through your account – it supports exchanges like Bittrex, Poloniex, Cryptopia and more, and the recently added Binance. In fact, there are over 45 other exchanges available through this one portal. This means some of the most traded on platforms in the world are available from one convenient site or app. This means you only need verify one account, with only one platform and one fee structure.
How Coinigy works?
Before we embark on a Coinigy review let’s give you some key details about how the site works. The Coinigy exchange is a subscription site. This means that you sign up to the Pro Trader facility to access the functions on the site. This costs $15 per month – but gives you access to a lot of features. If you are uncertain about this subscription, you can experience the site for 30 days for free before you spend anything. During your 30-day trial you have all the same features as the Pro Trader account, except your sessions will be limited in length.
The primary feature of your Pro-Trader account is the unlimited trading with no other fees. If you are a high-volume trader this is a huge benefit. Most other exchanges will charge a percentage fee for trading – therefore the amounts can add up quickly. Here you just accept a fixed fee in the form of your subscription.
And, everything is unlimited – the API accounts you can set up, the chart layouts you choose, the access to support, the session length – all for one standard fee. You are given over 75 technical indicators to help you make your choice – and one of the most positively reviewed features is the best price alert that can come to your phone or to your email address.
The site enjoys 99.9% uptime and promises 24/ 7 access, so you can manage your portfolio.
There are some added extras that are also worth exploring. There is an Android app and there are rumours that there will be an iOS app soon. This means you can trade wherever you are. There is also a Google sheets plugin – which helps you to collate the most important data in one area. There is also a CryptoTicker browser extension for Chrome and Firefox. This means you can track your favourite digital currencies from your web browser.
Key information about Coinigy
If you want to make up your own mind before reading our Coinigy review, here is the key information about security, usability and cost that will guide you in your opinions.
In terms of security, there are no funds stored on the Coinigy exchange. The site never handles your money directly. Despite this, there is impressive encryption and a multi-tiered server architecture that is hosted by Google. Every request you send to the site will go through a secure SSL and the site supports two-factor authentication (2FA) and Universal Second Factor (U2F).
Setting up connections to your exchanges is simple – and can access the connection from the Add an Exchange tab. Once the connection is made then you are ready to start trading. Some of the menus and routes to actions are complex – and there is some benefit in watching training videos – to make sure you are doing this well. Once you learn how to use it properly, Coinigy becomes user-friendly and intuitive.
In terms of fees – there is just the monthly subscription. And that’s it – for unlimited, every day of the year, and every minute of that day, trading.
Your Coinigy Review
- Coinigy stops the pain of having to jump from one exchange to another when you want to invest in a new cryptocurrency. The Coinigy exchange allows access to lots of exchanges in one place – so there is no need to set up multiple accounts and go through multiple validations. This means no need to set up lots of 2FA – lots of passwords – lots of selfies with credit cards – in short – it saves a lot of time.
- There is one set fee – which gives ultimate transparency in terms of costing
- The site gives you all the information you could ever need to make a great decision about which virtual currency to deal in – and when.
- The best price alert means you need never miss out!
- The danger of a subscription is that is can become like a gym membership – something that comes out of your account every month, but you never use. You sign up, you are interested in for a while and then you just forget… but keep paying…
- Setting up the API connections to the exchanges and the links to the coins you want to trade can appear complex at first – as can the charts and technical data. But, the software is called Pro Trader – and this is for a reason!
Overall Coinigy Review
The Coinigy exchange has positive review after positive review – it is widely welcomed by the cryptocurrency community because it draws together all the exchanges in one place. The business of buying virtual currency can be a pain – with multiple accounts and endless verification. Coinigy helps you to collate all the exchanges into one place – and so save you time and in saving you time it saves you money! With all this taken into account, our Coinigy review gives the platform the thumbs up.