Coinigy provides cryptocurrency traders with one place to trade across a growing number of exchanges. The platform has a suite of analytic tools for fundamental and technical traders. Currently in Private Beta, BNC obtained an unlimited use beta key for our readers.
Features such as futures and options have been attracting a lot of attention within the Bticoin industry of late. With exchanges touting leverage in the double digits and ever more complex derivatives, theres one company bucking the trend. Coinigy aims to provide the information required by the more traditional investor. The platform lists over 800 markets on 12 exchanges, and aggregates over 3.5 million trades per week. The services available include analytical charting, order management, balance tracking, price alerts and news feeds. Coinigy also offers a customizable market ticker, email notifications for trade, balance and price alerts, and custom price indicators.
“We are like your crypto dashboard. You can log in everyday, see exactly what your balances are in each of the exchanges. You can see your portfolio history and exactly how much your portfolio has been worth, from day to day.”
— – William Kehl
William Kehl and Rob Borden have known each other since middle school. When a joint interest in cryptocurrency arose they started mining, and developed their understanding of the technology behind Bitcoin. The next logical step for the duo was to enter the world of trading.
While searching for trading tools, that would help them make better investment decisions, they discovered a gap in the market. In January 2014, they began to design and write their own automated trading scripts.
“Cryptocurrency trading was too varied and technical for the average user. Poor charting, analysis tools, and differences between exchanges left traders bewildered, and discouraged new investors, especially those with non-technical backgrounds.” Borden explains, “We started making our own site, mostly just for us, but realized how many people would use it if we made it and put it out there to the public”
This was the inception of Coinigy. After 10 months of development only 1% of the original code remains. As a result it’s become a better, faster platform with increased functionality and security.
“Existing solutions have limited market support, unreliable data collection and don’t make an effort to educate users. This presents the opportunity for Coinigy to own the ‘all-in-one’ cryptocurrency trading and advisory market, similar to an E-Trade, Scottrade and TD Ameritrade.” – Kehl
In the months since Coinigy’s inception, the founders have spent countless late nights coding. Their focus has been ensuring that the site is viable for public use. They currently have over 1800 users, operating in private beta. This small core of like minded traders are helping further development, with bug tests and feature requests.
"We want to continue to innovate new ideas on our platform to enable traders and investors to better manage their activities. One of these ideas includes our own wallets to enable users to make real-time arbitrage trades. We would couple this with automated indicators for good arbitrage or other trade opportunities. We want to create a sandbox where users can test trading strategies including back-testing on data from our archives. We are also going to add custom order types, trade legs and conditional orders to allow traders more freedom to let Coinigy do the work for them." – Kehl
With recent exchange mismanagement and subsequent litigation hitting the headlines, Kehl and Borden are both adamant transparency should be at the top of every traders list of due diligence:
“We’re really trying to be open and honest about everything, we are not hiding behind a screen name. We are really trying to bring integrity to crypto, this is something that has been severely lacking, from what we have seen from a personal stand point,” explains Borden, “Crypto in general is such a security minded space, it has become our number one priority”
The core idea at Coinigy is to provide easy access to multiple exchange accounts, with a suite of trading tools to maximise trading efficiency. This means your funds are at the individual exchanges, not in Coinigy’s wallet. The platform currently provides access to 12 exchanges, with another 4 being added shortly.
“Crypto traders usually have over 10 exchange accounts and the lag it takes to transfer between accounts can mean lost money.”
— – Kehl
Coinigy have set standards for the inclusion of exchanges, increasing security wherever possible. “We have people ask as to why we don’t support certain exchanges, and we have to tell them their security standards on their API don’t jive with the standards we want to set for our users. We want to try and push exchanges to be a lot more secure in general,” William
Coinigy starts a presale on the 1st December, raising the funds required for further development. At this point in time there are no limitations on the amount of people allowed to enter the presale.Those who get involved have the opportunity access discounts for life, along with the option to purchase a lifetime subscription.
“If you are trading off the charts the exchanges provide, you are really doing yourself a disservice by not checking out Coinigy,” Kehl
William and Rob have set up an unlimited user beta key for BNC readers
Authorization sign-up: https://www.coinigy.com/auth/signup?code=BNC188E
This will allow you to bypass the waiting list and get right into trading. All you need to do is use the above link, put the key into the BETA box and set up your own account.
B.Holmes, author of The Range of Illusion and The Private Key installments, is currently located in Thailand, researching and writing about crypto. You can follow B.Holmes on twitter @BanteringB, or contact via email: [email protected]