Coincube has caught our attention because it purports to eliminate ”pain points” that traders experience when looking to automate their trading in Cryptocurrency assets. Coincube markets itself as the ultimate solution for this kind of problem.
According to who.is, there site was registered in 2014. However, there is still not a lot of valid user feedback around. We have checked forums like BitcoinTalk and found that users were asking each other if this site was a legitimate investment destination for those who want to trade a range of Cryptos automatically.
One thing is clear: not so many people have used this service yet. In the meantime, Coincube.io does not tell us how they stand to benefit from this setup financially. But according to their description of the service they offer, they claim that Coincube’s goal is to provide intuitive tools for investing in Cryptocurrencies and fiat currencies as well.
They also claim that their service is meant for both short and long term traders. However, it is not suitable for day trading as the website makes it clear that their operations usually involve helping traders place market making orders.
Also, the website makes it clear that they currently don’t offer a premium service, and that they are in the process of figuring it out. For now, you can test their service for free.
So, what exactly is Coincube and how do they intend to solve traders’ problems?
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We don’t know whether to call it an auto trading robot for Cryptocurrencies or something else. However, one thing is for sure. This platform seems to be providing their users with more than just trading signals. For example, Coincube tells its audience that they are also providing full portfolio management as well as diversification services too.
With this setup (according to the description given on their site), traders can automatically place trades in multiple exchanges at once. They also also giving their users the benefit of diversifying their investment assets into various groups. In terms of risk management, Coincube claims that market exposure can be manipulated based on the different cryptocurrency packages which they offer their customers.
They have grouped their assets based on titles like ”Top 5 Cryptocurrencies by market cap” or ”Top 5 indices” etc. If users want to increase their exposure to any market, they are advised to choose the ”Top 30” which will that they are investing in the top 30 Cryptocurrencies based on market cap.
Therefore, one thing is clear. This platform is seeking to make the work of a trader easier in the face of dozens of assets available for trading. Whether or not they have achieved this goal is not known.
Coincube runs a special API which facilitates trading inside a number of exchanges on the internet. As a trader, one is supposed to enter special API key of a particular exchange into their Coincube account.
Now, traders can allegedly fiddle with risk settings. When they select high risk settings, they will be able to trade all Cryptocurrencies equally. On the other hand, a lower risk tolerance means that the trader will only be able to focus on high market cap Cryptocurrencies like BTC as opposed to lesser ones which tend to be more volatile.
When settings have been fine-tuned, Coincube robot will allegedly start placing orders in these exchanges on the behalf of its user. To allegedly keep the fees as lows as possible, they have restricted the service to market making orders only.
In addition to this, Coincube has created a portfolio page where each member can view the status of their investments. The portfolio of a trader is automatically re-balanced as price goes up and down during the day.
Now, it should also be noted that the operations of this site cannot be carried out without an API connection. Again, the platform doesn’t seem to have the capability of withdrawing coins from its user accounts. This operation is reserved for traders at the moment.
It would be extremely difficult to say yes or no to this question. The reason why we are not certain is because user feedback suggests that nobody has used this service yet, and so they don’t know whether or not it is profitable. Another thing is that although there are concerns here and there, the trading platform does look like it’s in its infant stages. For that reason, it would be risky to just go in without first conducting due diligence.
Perhaps it would be wise if you traded with these robots instead. They have been proven to trade Cryptocurrencies profitably. In addition to that, they can be used to trade a number of these assets. The idea is just the same with the exception that you are only trading these assets in one broker’s platform.
While these guys sound like they have a valid idea, they still haven’t figured it out yet. They appear to be confused on this matter, which is why no premium product has been offered up to now.
We would love to trust them on this. However, since they don’t seem to be really interested in achieving a particular goal, we may need to hesitate a little bit until they can figure out what they want to offer their traders.
We wouldn’t want to believe that all this work is in vain. If they sweat for it, it must surely be compensated in one way or another which will involve selling a product or service on this platform. They can’t just tell us that they are ”helping” traders and gaining nothing in return. The world doesn’t work like that.
There are no too good to be true promises on the Coincube website. Moreover, they don’t mention anything to do with profitability of this trading system. Finally, it appears that whoever who uses this trading platform will just make their profit based on how efficient they find it. But as with any other investment, profits shouldn’t be guaranteed.
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