You’ll find everything you need to know about Coinmatics before you try it in our expert review. We’ll explore its features, cost, and more!
Coinmatics is a copy trading and analytical platform for cryptocurrency traders, first launched in 2018. It connects traders and investors, with a range of features available.
Copy trading strategies can be executed automatically or manually, and traders at a professional and novice level utilize Coinmatics. But what functions does this platform offer? How much does it cost?
Find out below.
Features
Coinmatics’ core feature is copy trading, though other services are available. These include Crypto Arbitrage, Ticker Alerts, and Analytics.
Let’s take a quick look at each:
Copy Trading
This allows professional traders to generate revenue from investors who choose to subscribe to, and automatically copy, their strategies. They can also profit from traders who have subscribed to Telegram alerts (for manual copy trading).
Copy traders/investors can subscribe to more than 30 strategies created by professional traders. Trades can be copied manually or automatically, according to the user’s preferred approach.
Crypto Arbitrage
Traders may use Coinmatics to conduct arbitrage trading from a variety of exchanges, to locate deals offering the highest spread. Users can set up Telegram and manual mode signals to stay updated on deals with the best potential for profit.
Ticker Alerts
With Coinmatics, ticker alerts may be set up with bespoke parameters. These will provide users with instant notifications when triggered, with all alerts sent via the relevant Telegram account.
Analytics
Traders can track their history of transactions and activate daily updates on their portfolio from a number of wallets and exchanges.
They may also analyze the market from various angles with analytical dashboards, such as Margin Positions Amount, BTC Social Volume, Fear and Greed Index, Twitter Analytics Chart, and more.
How Does it Work?
Traders and investors may start using Coinmatics in different ways, based on their goals.
For those looking to invest or copy trades, the first step is to create a Coinmatics account. They should then add an API key to connect their Binance exchange account.
The user will take the time to find a strategy that appeals to them most from the many available. Once satisfied, they can advance by clicking the “start copying strategy” button. Gains can be tracked in Portfolio.
For anyone trading professionally, the Coinmatics setup process is similar. They should register at Cointmatics, then connect their Binance exchange account via an API key.
Next, they will need to register as a trader and configure commission for copying deals, as well as a signals fee for Telegram.
Be aware, though: as users don’t provide their API key withdrawal permissions, Coinmatics cannot withdraw money from the Binance balance. Instead, all charges are taken from the user’s Coinmatics wallet.
Another crucial aspect of Coinmatics is that traders only work with credible stats. The platform presents signals history, total and average profit, trading period, and other key details for every strategy.
As a result, traders may be able to mitigate the risks involved in a strategy they choose to copy and make informed decisions about their subscriptions.
Security
As mentioned above, Coinmatics is unable to withdraw your money from your Binance balance, as you don’t provide your API key withdrawal permissions. This is one of the most important security considerations for anyone who may be contemplating using Coinmatics for copy trading.
Users can utilize two-factor authentication to protect their account. They can activate this security feature when they sign up with Coinmatics, through a fairly brief configuration process. This option can be found in the Security tab in the Account Settings section.
How Much Does it Cost?
The platform claims a 5% charge of a trader’s profit. Investors begin following traders who submit strategies, which enables them to start earning money. Any commission on a strategy will be paid at the close of every billing period, by the investors. Investors don’t actually pay Coinmatics anything at the time of writing.
A $50 minimum deposit is required before a user can begin copy trading, transferred to their exchange balance.
