Coygo Review: An Automated Crypto Trading Bot

Coygo is a crypto platform that claims to offer multiple tools that help you trade crypto assets. As per the vendor’s claims, it is trusted by thousands of traders in more than 75 nations. To check the reliability of this system, we are going to analyze various aspects like features, pricing, profitability, security, and ease of usage.

What is Coygo?

Coygo is a platform that offers cryptocurrency trading bots. It also lets you track your portfolio, engage in day trading, and offers market insights that help you with the decision-making process.

Quick summary

The principal features of the system are as follows:

• Arbitrage bots 

Here, you can capitalize on arbitrage opportunities within a few milliseconds by configuring and running arbitrage bots. The opportunities include intra-exchange as well as inter-exchange arbitrage.

• Low latency

Thanks to live data feeds, your system is directly linked to the exchange. This means the servers do not act as the bridge and there is low latency.

• Advanced analysis 

You can analyze past orders to identify trading activity and live trends. This way, you can determine whether the action is due to a single large trade or a small number of orders.

• Portfolio tracking 

Through a user-friendly interface, you can track your portfolio across multiple exchanges. You can track your progress by listing your holdings’ value in ETH, BTC, or USD. 

Coygo: background

The company is registered in San Diego, California, United States. It was founded on April 20, 2018. Core members of the team include CEO Evan Francis, CIO Dorian Kersch, and CTO Ellery Addington-White. 

How does it work?

After signing up, you need to navigate to the bots screen to build a bot. Then you can select a strategy from a list and assign a name to the bot. There are multiple configuration options for each strategy and you can customize them to decide how the bot functions. With each input, there is a label that tells you what each option does. After creating the bot and customizing the strategy, you can test the bot to see how it would operate in a particular scenario. 

How to sign up with Coygo?

On the official website, you can find the Sign Up button located at the top-right corner. This will take you to the sign up page, where you can register by providing your first name, last name, and email address. After that, you can select a plan and get started.

Does Coygo offer a demo account?

This platform has a testing environment where you can test the performance of your bot without investing real money.

Profitability of Coygo

There are a number of factors affecting profitability, namely the bot’s configuration, which exchanges you are using, your internet speed, and how other individuals interact with order books. 

Payments, deposits, and withdrawals

There are no additional payments to be made other than the subscription fees. This platform does not have the permission to make deposits and withdrawals, which means your funds are safe, even if someone gets access to your credentials.

Exchanges supported

This platform supports exchanges like Coinbase, Coinbase Pro, Binance, Kraken, Bittrex, Poloniex, Gemini, Bitfinex, BitFlyer, Bitstamp, and Kucoin.

What about customer support?

There is a customer support portal where you can raise a support ticket. Alternatively, you can get assistance through live chat. 

Benefits of using Coygo

Here are the advantages:

• Almost zero latency for live data
• User-friendly interface
• Easy transfer between exchanges

Drawbacks of using Coygo

Let’s look at the disadvantages

• No backtesting features 
• No user reviews

Pricing review

Apart from the free plan, there are two paid plans known as Pro and Casual that cost $17/month and $5/week, respectively. Then there is the Enterprise plan with custom pricing.

What are security measures?

Coygo uses API keys, which means the exchange data is encrypted and the servers do not have access to your assets.

Is Coygo legit?

Yes, it is a legit brand that has been featured in multiple media outlets.

Ease of use

You don’t need technical skills to build bots on this platform, however, a basic knowledge of the crypto market is required.

Is Coygo a good choice for automated trades?

If you are comfortable using a platform that doesn’t offer too many advanced features, then it is a decent choice.

What are the risks of using Coygo?

The fact that there aren’t any user reviews for this platform makes it a bit risky.