In this article, we will review Coygo, a powerful tool for cryptocurrency arbitrage, trading, and portfolio tracking, and much more.
Table of Contents
Summary (TL;DR)
Pros
- Arbitrage scanner with one-click trading
- Low-latency real-time data, directly connected to Exchange WebSocket
- API keys never leave your machine
- Simplified transfers between exchanges
- Mobile-friendly interface
Cons
- Limited historical data
- No backtesting
Trading cryptocurrencies and digital assets is a challenging game, particularly when looking at strategies for arbitrage and day trading.
Therefore, making the right decisions requires having access to the most pertinent data as quickly as possible.
Today, most of the traders use multiple crypto exchanges, analyzing order books, and tracking your portfolio a tedious process.
However, when it comes to Arbitrage, opportunities may only exist for a few hundred milliseconds, so capitalizing on these moments becomes near impossible for a regular trader.
Coygo, a company based in San Diego, California, offers an appealing suite of software tools that help solve these issues and make day trading and arbitrage more accessible to crypto traders.
Two big things stand out when looking at what Coygo provides that merit mentioning off the bat.
- Connecting your exchange accounts with API keys is entirely optional. In other words, when you do connect your accounts your API keys are only stored encrypted on your own hard drive. Coygo’s servers never have access to your accounts.
- Coygo Terminal claims to offer the lowest possible latency for all its real-time data. Because your machine is connected directly to each exchange’s real-time WebSocket data feeds. Coygo’s servers don’t act as a middleman.
Read Coygo reviews on CoinCodeCap
Coygo Terminal: A secure multi-exchange crypto trading app
Coygo Terminal is a flagship product that is available on macOS, Windows, and Linux.
It provides a unified crypto trading terminal for real-time data insights, portfolio tracking, arbitrage scanning, trading, transfers, and more.
In other words, if you’re day trading or arbitrage trading Coygo Terminal offers everything you need to get through your daily workflow.
API keys and security
One common complaint about trading platforms is that people don’t want to trust them with their exchange account credentials (API keys).
It’s nice to see Coygo’s approach to these concerns, putting you in control of how much you want to trust Coygo’s software with your accounts.
If you don’t want to connect your exchange accounts you can use Coygo Terminal for all of its real-time analysis and crypto market data tools, API keys are entirely optional.
This includes arbitrage scanning, order book superiority analysis, the powerful Coygo Screener, and more.
If you do want to connect your exchange accounts, you gain access to multi-exchange trading, portfolio tracking, transfers, and more.
In addition, your exchange account credentials (API keys) are only stored encrypted on your hard drive, Coygo’s servers never have access to your accounts.
Real-time arbitrage scanning and trading tools
Coygo emphasis on their crypto arbitrage solution called Coygo Terminal’s Arbitrage 2.0, offering “Industry-leading crypto arbitrage” according to their website.
This is demonstrated with three main points:
- Real-time spreads
- One-click trading
- Rapid transfer
Their real-time arbitrage scanner calculates spreads in real-time across a number of exchanges and trade pairs each time an order book is updated.
Therefore, for each arbitrage spread the app shows the estimated profit in US Dollars.
Coygo lets you configure your scanning parameters with options such as the minimum profitable spread percent to help avoid spreads that would be less than the trading fees you’d pay.
One-click trading
One-click trading provides a way to automatically pre-configure arbitrage trades on two exchanges and submits them both in parallel.
This allows you to act on a profitable opportunity as quickly as possible as to not miss out on the spread that may only exist for under a second.
With real-time slippage detection, Coygo ensures you won’t accidentally get an unintended price.
Profiting from crypto arbitrage is all about speed. Therefore, without Coygo, I don’t think a human could feasibly submit trades quickly enough to capitalize on a spread.
Rapid transfer
Rapid transfer provides a really easy way to transfer crypto-assets between your exchange wallets.
Transferring has always been a bit of a pain with copy-pasting around wallet addresses and double-checking that they’re correct.
Coygo Terminal gets rid of this by automatically getting the deposit address and pre-filling the transfer for you.
Besides, it even shows the estimated US Dollar value of the amount you’re transferring. Therefore, you can easily see if you’ve accidentally mistyped the amount.
Optimized trading workflow
Although arbitrage appears to be a big focus, Coygo Terminal does offer tools for pretty much every part of a trader’s daily workflow.
Want to track your crypto portfolio across exchanges? Coygo provides an aggregated view of your assets on every exchange.
Submitting your trades and managing open orders? Yup, Coygo Terminal helps with that.
Assessing order books and market data? Coygo Terminal has a ton of real-time data tools. It provides order book superiority analysis, depth charts, trade analysis for detecting whale movements, and more.
Transferring between exchanges? Coygo provides a simple interface.
Coygo Mobile: Powerful market data tools & Portfolio tracking
Whereas Coygo Terminal is something you use when sitting at your desk and trading. Coygo Mobile is its companion mobile experience for when you’re on the go.
Accessible via a web browser, you can use Coygo Mobile on your phone or laptop to keep up with your portfolio and assess crypto market data wherever you are.
Portfolio tracking
By connecting your exchange accounts with Coygo Terminal, you can view your portfolio across all the exchanges with Coygo Mobile.
Since your exchange API keys aren’t actually stored on Coygo’s servers, your balances will be updated whenever you open Coygo Terminal. Coygo’s servers can’t update your portfolio data on demand because they don’t have access to your API keys.
Real-time candlestick charts & indicators
Not many mobile apps and websites out there offer real-time charts for crypto markets.
For the most part, you’re given static charts or charts that update every minute or so.
One great thing about Coygo Mobile is that it offers fully real-time charts with MACD, RSI and Bollinger Bands indicators out of the box.
Coygo Screener
Coygo Screener is a really interesting tool that is available in both Coygo Terminal and Coygo Mobile.
It’s totally free to use on Coygo Mobile, you don’t even need an account.
Coygo Screener aims to be your go-to solution when checking up on crypto prices throughout the day.
Search filters to find best coins to trade
Coygo Screener comes with a number of preset search filters to help you find the best coins to be trading for the day.
These filters include things such as “Daily high volume gainers”, “Far from ATH”, “Possibly daily bullish reversals”, and more.
Coygo is clearly built with traders in mind. It provides a bit more insight into which assets might be a good pick for buying or selling.
Build your own custom search filters
This was really the most interesting thing for me.
You can build your own custom search filters by combining comparison across data points such as “Volume 24h”, “Market cap”, “7d price change %”, and more.
For example, you could build a search filter for coins that have
- The volume of at least $200,000 in the last 24 hours
- and are down from their ATH at least 50%
- and are up in price at least 10% in the last 7 days
Isn’t it exciting?
Try Coygo’s suite of tools for free
With all of their tools for crypto traders, Coygo seems like a great option for those who are looking to get serious about arbitrage or day trading.
Whether you’re scanning arbitrage spreads, tracking your portfolio, or assessing the market on the go, Coygo provides something to help with the task at hand.
Anyone can try Coygo’s suite of tools entirely free, including Coygo Terminal, Coygo Mobile, and Coygo Screener, by signing up on their website coygo.app.
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