Forex Robots

Coygo Review: Is This Crypto Bot Safe and Legit?

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Coygo

Coygo allows traders to trade several cryptocurrencies with automatic bots, arbitrage strategies, and portfolio tracking. It supports multiple crypto exchanges, i.e., Binance, Coinbase, Gemini, Poloniex, etc. Investors can use ready-made strategies or write custom codes for their robots and select from a range of API keys available within the platform. This unbiased review will explain the features, company background, and much more to see if the service is legit and profitable for use in 2022.

About Coygo

Coygo comes with pre-built strategies and allows traders to build trading bots with Javascript coding. The most well-known approach is crypto triangle arbitrage, available on all supported exchanges. Traders have access to a smartphone application and an online dashboard for analyzing and viewing real-time charts.

Coygo review: key features

The essential features and tools at Coygo include:

Coding with Javascript

Coygo allows traders to create trading bots with Javascript coding that best suits strategies like arbitrage or scalping.

Transfer funds

You can transfer your assets between two exchanges in a short time.

Trading on multiple platforms

Coygo lets users create and manage orders by tracking trading history on multiple exchanges.

Unified interface

It has a portfolio tracking feature for all exchanges that can be assessed from one place.

Coygo trading strategy

Coygo uses several pre-built strategies like grid trading, scalping, triangular arbitrage, swing, market making, etc. After signing up, traders can use various trading techniques for their bots and customize them according to their requirements.

Security of Coygo

Coygo offers multiple API keys for traders including No, Read-only, Trade and Transfer. Each has a specific set of qualities to cater to the needs of the general community. Giving access to your funds can make your funds a bit risky.

Is Coygo safe?

Using the platform without a proper strategy can result in the loss of funds. It is recommended not to give access to withdraw your funds on the exchange via API keys.

How much does Coygo cost?

Coygo comes with multiple subscription plans that we will explain later on in our article.

Getting started with Coygo

To start trading with Coygo, follow the step given below:

  1. Create an account on the platform
  2. From the list, select a trading strategy and name your bot
  3. Customize the robot according to your requirement, e.g., exchange, high/low grids, and trading pair
  4. Launch your bot and start trading
Creating Coygo bot

Creating Coygo bot

Deposit and withdrawal

Coygo lacks information about the minimum deposit required to trade with the bots. Traders can withdraw funds from their exchange when they require.

Does Coygo charge fees and commissions?

Coygo is available in two pricing plans for casual and frequent traders. The Pro subscription comes for $0.55/day, $17/month, and $155/year. The simple offer can be purchased weekly or daily for $1/day and $5/week. It also lets users benefit from its free subscription with limited features.

Subscription plans of Coygo

Subscription plans of Coygo

How much profit can it earn?

The profitability of Coygo can depend on market conditions and your strategy. Using a manual approach can help you with maintaining the risk.

Company repuation

Coygo was established in 2018, and the company exists in San Diego, California, United States. The team’s key members behind the platform are CEO Evan Francis, CIO Dorian Kersch, and CTO Ellery Addington-White. As per the vendor claim, it provides services in over 75 countries with 5000 users.

The team behind Coygo

The team behind Coygo

What languages does Coygo support in their product?

Coygo is available for its users in only one language, i.e., English.

Coygo reviews

The website lacks backtesting or live records for bots, that could show its performance in actual market trading. There are no customer reviews for the platforms that raise concerns about their authenticity and devoids us from understanding the true output of the service from the viewpoint of retail traders. The vendor does not guarantee to profit from the algorithms.

Who is Coygo for?

Coygo is suitable for casual traders who prefer to use latency arbitrage to their advantage. While this may require some experience, investors can use the code editor to help develop custom strategies.

Coygo: supported devices

Coygo can work on your Windows, Mac, and Linux, and smartphones.

What exchanges does Coygo support?

Coygo provides full support for seven crypto exchanges like trading, arbitrage, bots, portfolio tracking, etc. Traders can trade on the following platforms:

  1. Coinbase
  2. Coinbase Pro
  3. Binance
  4. Binance.US
  5. Kraken
  6. Bittrex
  7. Poloniex
  8. Gemini
  9. Bitfinex
  10. bitFlyer
  11. KuCoin
  12. Bitstamp

Coygo customer care

Traders can submit their queries via a ticket on the customer support portal. The live chat is only available during office hours.

Coygo Crypto Bot

5

Coygo allows traders to trade across multiple exchanges with minimal latency. Unfortunately, without any live or backtesting records, we cannot know if the platform is profitable as of now. There are no customer reviews on trusted third-party platforms like TrustPilot, raising doubts about the platform's legitimacy.

  • They offer a testing strategy option that helps analyze bots' performance with your parameters
  • It has a mobile application
  • Lack of customer reviews
  • It does not provide full support and features on compatible exchanges
  • There are no backtesting records on its website
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