In this article, we'll show you how to open a trader account on Coinmatics and attract followers.
Step 1 — Registration
To register on Coinmatics, click the "Sign Up" button and enter your email. You can also use your Google or Twitter account to register. In this case, the email will be taken from the respected account.
If you register with your email, we'll send a confirmation message with an activation link:
Click the button in the received message, and you'll be redirected to a window where you can complete your registration by creating your username and password:
Once you create an account, you'll be offered to enable two-factor authentication. It's optional but we recommend this option for security reasons.
Step 2 — Exchange account
Now you need to link your exchange account to the platform. We'll explain it on Binance and OKEx examples. The same steps should be taken for any other exchange.
Coinmatics learns about your trading activity via an API connection. Therefore, you need to use your API key to link the platform with your exchange account. Go to the Accounts tab and click the "Add account" button. You'll have an option to create a brand new API key or use an existing one (that you've already created on your own). Whatever you choose, our 4-step setup guide for Binance or 3-step setup guide for OKEx will ask for your API key details on step 3. You’ll need to provide both your API key and its secret key. To add the OKEx API key it’s also required to add a passphrase.
Please note that Coinmatics supports OKEx V5 API key only.
Here's a video tutorial on Binance example:
On Binance, as a trader you need only the "Enable Reading" option in API restrictions. If you don't plan on copying other strategies, Coinmatics does not need to make deals on your exchange account. Therefore, Spot, Margin, and Futures trading are not obligatory. And don't select the "Enable Withdrawals" option. This ensures that your balance remains under your total control.
On OKEx, you need to enable "Trade" and "Read" permissions to be able to follow and copy the strategy. The same as with the Binance API key don't select the “Withdraw” option, please.
Please note that Coinmatics supports only Spot trading on OKEx and can copy deals on the Unified account only. The deals on the Classic account will not be copied.
Once you've linked your API key, it's time to create your own strategy.
Step 3 — Strategy
|Strategy name||Give your strategy a distinctive name that would make it stand out in the listing.|
|Select Exchange||Select the exchange from which the orders will be copied. Now there are 2 options available — Binance and OKEx.|
|Description||Describe your trading strategy, for example: “Only top coins. I calculate profit in BTC. I do risk management.” This should give investors enough information to briefly understand how your strategy works. A good description increases conversion.|
|Base Currency||Choose between USDT and BTC; remember that you cannot change it later. The base currency is the coin in which all your results are calculated. You can have numerous coins on your account, but the system will calculate your total in base currency. If you choose BTC, for example, all your coins will be “virtually” converted to BTC and therefore a total account value will be estimated.|
|Telegram Monthly Price||Set the price for subscribing to your signals in Telegram or provide them for free. Don't worry, you won't have to send any signals manually; our system will do it for you in automatic mode.|
|Auto Trading Commission||Set the commission that your subscribers will pay for copying your trading strategy automatically. Remember that a big amount may scare away some investors.|
|Choose Account||Choose the API key related to your account dedicated to this strategy activities.|
Please note that the cross margin mode is not supported. The orders made in this mode won’t be copied by investors on Binance!
Here's a video instruction:
Preliminary moderation takes some time (can be as long as 1-2 weeks). Once your strategy is approved, it will go into the sandbox. You'll see the status change. After 30 days in the sandbox, your strategy will go public. From that moment, you will be able to find it in the strategies rating.