Hello, and welcome to another post.

In my previous post, I spoke about a tool I use frequently: Coinigy.

Well, having checked my balance sheet for last month, I realised I spent... wait for it.....$100 on Coinigy in one month alone.

This makes it my third most expensive crypto tool to date.

Now, why would anyone in their right mind spend so much money on a tool?

Well, if it was a good, tool, why not?

So first, let me explain what Coinigy is. Then I'll explain why I spent so much money on it last month.

First off, Coinigy is a software package that allows you to view all of your exchanges and trading pairs in one place. With a proper knowledge of APIs, you could also configure it so that you can execute your trades off of Coinigy. That sounds dull now, but wait till I tell you how I use it!

So, I personally trade off of 3 exchanges. I use Bitfinex, Binance(obviously) and BitMex(for that perpetual contract action baby!)

I use those three exchanges for different reasons, and it is for this purpose I have my capital spread across these three exchanges.

I equally trade about 5 pairs on Bitfinex, 3 pairs on Binance, and all my major coin pairs on BitMex. That's a total of about 15 pairs in total.

Imagine keeping tabs on 15 pairs on three different exchanges. Bummer.

Unfortunately, I have to trade these pairs, because my trading plan has proven that these pairs basically give out free money.

That's where Coinigy comes in. They allow me to simply switch from exchange to exchange, and from pair to pair, without ever leaving the platform, or having to manually sign in to any exchange.

In fact, I can actually execute my orders off of Coinigy.

This is the way I use it. I set alerts based on my trading plan. It seems like a hassle to set alerts for 15 pairs a day, but it literally takes me 3 minutes.(I'm not joking)

Then when the alerts go off, I set up orders on the Coinigy platform, which then sets up the orders on my exchange, giving me the ability to set orders on my exchange without ever going to the exchange.

But won't they need your private keys?

No. That's where API support comes in. It allows you to give certain functions to third party apps, such as setting orders or stop losses without actually giving them access to your wallet. So it's a win for safety and usability.

Now, there is actually a free plan that you can try out right now. But for my professional needs, I decided to go with the pro plan, and that cost me 99.99 USD. I don't regret it though.

What are your thoughts on Coinigy? Has anyone tried it out?