There are many different methods employed by traders to generate a profit in the cryptocurrency market. Many traders choose to invest in a broad spectrum of altcoins outside of the two most popular cryptos, Ethereum and Bitcoin.
Keeping on top of these many different altcoins in order to exploit market gaps and arbitrage opportunities, however, can be a serious time sink. In order to trade competitively, many cryptocurrency investors leverage the power of automated trading software and platforms.
Of these solutions, online virtual currency trading platforms are becoming the most popular. These platforms use complex intelligent trading algorithms to trade at extremely high speeds, targeting and exploiting tiny market gaps to generate profit.
CoinCube is a recently new addition to the growing roster of automated crypto trading platforms, and is currently still in a beta stage. As the WAVE trading algorithm that drives the Coincube platform is recently new, there’s scant information regarding its performance or the ROI it delivers. Despite this, there are already thousands of users that have already adopted the platform and are purportedly reaping significant profits.
In this article, we’ll take a look at the Coincube.io platform and assess its trustworthiness, features, and promises, as well as provide a balanced risk assessment and examine the frequency of complaints or negative feedback it incurs in order to help you make an informed decision on whether it’s the right automated trading platform for you.
What is CoinCube?
Coincube.io is an automated trading platform, but offers a wide range of functionality beyond simple trading signal identification. The Coincube.io platform promises users comprehensive portfolio management service, including diversification services. Coincube.io claims that its proprietary software solution is able to automatically track and trade cryptocurrencies in a similar manner to index funds on the stock market and, surprisingly, is completely free.
According to the breakdown of services listed on the Coincube.io website, the platform allows users to execute multiple cryptocurrency trades on different exchanges at the same time. Coincube.io also makes it possible to diversify investments into a spectrum of different currencies, broken down by category.
Users are able to manipulate market exposure by selecting from these predetermined crypto packages. The top 5 index, for example, is composed of the top 5 cryptocurrencies as determined by market cap. In order to spread market exposure as wide as possible, users are encouraged to select the top 30 index, which diversified investments over the top 30 cryptocurrencies as determined by market cap. The automated nature of the Coincube.io offers clear benefits here- it’s virtually impossible to trade so many different assets on a manual basis.
In order to conduct trade on any of the exchanges that are supported by Coincube.io, users are required to enter the API key of the exchange into their Coincube.io trader. Coincube.io also makes it possible to adjust risk tolerance. Selecting a high risk tolerance ensures that all currencies in a chosen index will be traded equally, while a lower risk tolerance setting will focus on high market cap currencies such as Bitcoin and Ethereum, placing less emphasis on lower market cap value cryptocurrencies that are, in theory, more volatile.
After a user has confirmed their chosen trading strategy settings, the proprietary Coincube.io WAVE algorithm engages, automatically executing the strategy over the user’s chosen exchanges. The Coincube.io platform limits the placement of market orders in order to minimize the impact of exchange fees.
The Coincube.io platform provides each user with a portfolio breakdown page, which presents users with a top-level breakdown of the current state of their investment. As asset prices fluctuate, Coincube.io automatically rebalances the portfolio of users.
One important limitation of the Coincube.io should be noted- it’s currently limited to making trades through API connections, and cannot withdraw coins for users, which must be managed manually.
CoinCube Features & Promises
The primary benefit offered by the Coincube.io platform is the potential to generate highly scalable profits. While Coincube.io provides unique and innovative automation functionality, it leaves trading strategy in the hands of users and makes no ironclad guarantees of profit, which is a good sign in the automated trading platform ecosystem.
Coincube.io supports a wide range of popular exchanges, including BitStamp, Gemini, GDAX, Bitfinex, Poloniex, Bittrex, and Kraken. This broad spectrum of API integration is a major feature, and is a key sign that the platform is a far cry from the less reputable alternatives that saturate the automated trading service environment.
The Coincube.io platform also supports an extremely broad range of different cryptocurrencies, and provide users with a simple breakdown of cryptocurrency availability by supported exchange. Coincube.io recommends users don’t trade with their exchange accounts while they are linked to the platform, however, as this can interfere with the performance of the algorithm. It’s best to create a new account for this purpose.
One of the most important factors to consider when assessing an automated trading platform is the level of transparency it offers. Coincube.io is exceptionally upfront about their (currently nonexistent) fee structures, planned premium services, and platform mechanics.
Coincube.io provide a full breakdown of their team members on the website. The CEO of Coincube.io is Robert Allen, who is backed up by CTO Jibben Nee, a key industry player and experience cryptocurrency arbitrage expert. The Coincube.io venture was launched in 2014, and has been in active development since. It’s safe to say that Coincube.io is a fairly trustworthy platform.
The CoinCube Verdict
Coincube.io is a richly featured, highly trustworthy platform that offers a diverse range of functionality. While it’s clear that the Coincube.io team is gearing up for the rollout of an impending premium services suite, the platform is currently completely free, and is definitely worth careful consideration for individuals seeking automated asset diversification and arbitrage exploitation.