Trading indeed takes time and effort. It also raises lots of questions about yourself, makes you doubt your abilities, and lastly, it needs guidance to guarantee success and avoid failure. Are you looking to start your venture in the billion-dollar cryptocurrency arena, but you have no experience?
Well, considering the merits of using a cryptocurrency trading bot might be worth it. It enables you to buy and sell digital currencies without the necessity for you to sit down and operate your computer all the time. Instead, the bot will autonomously work based on its pre-programmed conditions.
There are numerous trading bots available in the market, but Cryptohopper is considered the best and most reliable. It provides easy to use and fully featured services that enable multiple trades with cryptocurrencies while eradicating human frailties along the trading process.
Hence, we thought it would be an excellent idea to provide everything you need to know about the Cryptohopper. Why is that? To maximize earning potential, to optimize trading activities, and to help in your decision making. There is no need to worry; we’ve got you covered, such as how the bot works, what it can do, the pricing, and many more in this Cryptohopper review.
What is Cryptohopper?
Cryptohopper is a cryptocurrency trading robot that simplifies the crypto trading process, and it permits users to use an automated trading bot to its best potential. In other words, the trades will be placed by the pre-determined conditions that the bot has been instructed to execute.
For the most part, Cryptohopper is a semi-automated bot. Hence, the bot is only equal to the person who programs it. An example would be that if the bot's primary objective is to purchase a cryptocurrency when it increases 3% in a certain period, that will be what the bot will follow.
The semi-automated bot does not ensure profits. Instead, it merely allows traders to have better decision-making and intelligent trade with algorithmically programmed approaches.
In this sense, you can make your own “secret formula” into the marketplace. In case you have no idea about online trading, and you don't have the confidence, then there is an option available to purchase strategies directly from the Cryptohopper market.
A great benefit of using Cryptohopper is its flexibility to traders of all experience levels. For example, you can program the bot to mirror a seasoned investor to achieve your desired requirements. It allows traders to make the most out of their trading opportunities and maximize their profits, and reduce the risk of losses.
Nonetheless, the eight leading cryptocurrency exchanges are compatible with the Cryptohopper bot. It includes Binance, Bittrex, Bitfinex, Coinbase Pro, Houbi, Kraken, Kucoin, and Poloniex. It is a list of impressive, reputable exchanges, and this ensures that your automated bot has sufficient liquidity to achieve its objectives 24-hours a day.
Who Can Use Cryptohopper?
Cryptohopper is a trading bot designed for all users, either new or advanced; it is safe to say that it can accommodate users on all experience levels. It can be utilized as automated and semi-automated; as discussed above, operators should determine what type of pre-configuration are they going to access and execute according to their preference. All settings can be customized according to the operator’s desires.
Cryptohopper offers four different pricing plans, which are listed below with a summary: This plan offers a 7-day free trial that comes with 20 trading positions open at any given time. It also provides portfolio management, manual trading option, and on all available exchanges.
Pioneer: Free package (7-day trial)
- 20 positions
- Portfolio management
- Manual trading
- On all available exchanges
The explorer account allows you to have up to 80 trading positions at any given time. The cheapest plan limits you to trading 15 selected coins, with two triggers at maximum. Moreover, this plan facilitates cryptocurrency trades at 10 minutes intervals.
Explorer: $19/Month (Try for seven days for free)
- 80 positions
- Max 15 selected coins/assets
- Max of 2 triggers
- Technical Analysis (TA) with 10 minute interval
- 1 Simulated Trading Bot
If the above-mentioned is not enough for you and hinders your ability to make the most out of your chosen strategies, then considering the Adventurer Hopper plan is not a bad idea at $49 per month. It increases the order limit to 200 positions at any given time, as well as you can trade 50 selected coins, and it comes with five triggers and allows you to execute orders with an interval of 5 minutes.
- 200 positions
- Max 50 selected coins/assets
- Max of 5 triggers
- TA with 5 min interval
- 1 Simulated Trading Bot
- Exchange Arbitrage
If you are still not satisfied and are looking for extra flexibility with your plan, then the premium plan is for you and it comes at 99$ per month. The package will permit 500 open positions and gives you the option to trade the maximum allocation of 75 coins. You'd also be able to experience a maximum of 10 triggers, and you can be able to engage in technical analysis at intervals of 2 minutes.
- 500 positions
- Max 75 selected coins/assets
- Max of 10 triggers
- TA with 2 minute interval
- All coins for signals
- Market arbitrage
- Market making
- Algorithm intelligence (Beta)
Human beings are bounded by limitations; on the other hand, bots execute plans and programs with precision at any time of the day without complaints. Thus, trading bots have lots of advantages over humans in terms of analysis and trading. It enables the user to enjoy life and still reap the rewards from trading without the need to stay online all day long, and it is made possible by the aid of the Cryptohopper trading bot. Below are some of the most remarkable features of Cryptohopper:
Cryptohopper comes with an easy to use and intuitive user interface with a wide range of functions. It offers to use algorithmic and social trading to configure the bot to trade 24/7. It also comes in handy to have a third party of experts followed and where trading strategies can be derived.
Range of Tools
Users can rely on indicators such as MACD and the likes, while the platform is suited with a good range set of tools for trading. It includes trailing stops, backtesting tools, technical indicators that can be customized, and configurable and saveable templates.
The platform has produced the Cryptohopper Academy video library. It also includes numerous tutorials that aim to help users navigate and learn. It also contains FAQs in the customer support section. A support team is also established to contact by submitting a support ticket found in the support section. They can also be reached via Twitter, Telegram, and Facebook – each with different teams to cater to the user's needs and inquiries.
The Cryptohopper's strategy designer has more than 130 candle patterns and indicators to select from. It gives you an avenue to create your technical analysis and ensure the best buy signals according to your strategy. Most traders usually use drag and drop indicators, and then you can load the process into backtesting to see if it generates a good buy or sells program. When you achieve the satisfaction you are looking for, you can then implement it on your actual trading bot.
The Cryptohopper's main feature is automated trading, which means that trade will occur 24/7 by your bot. It implements the data, strategies, and configurations that you have set. It allows you to track all coins simultaneously, and automated trading executes functions at a moment's notice whereas humans have a very likely chance to miss. On the other hand, a human can only run one entry at a time.
How To Set Up Cryptohopper
Creating an account is a simple process and can be done quickly, even for the non-average technical person. It is also well written in English and can be understood with ease. The first step would be to visit the Cryptohopper website and fill in the details being asked such as name, email address, username, and password to register. You can then activate your email by accessing the activation link and gain access to the dashboard.
Next, follow the instructions of the wizard, as it will help you configure the hopper. You just need to change and configure your preference, and there are links, tutorials, and additional information on each step. Nonetheless, the process is very straightforward.
From here, you can immediately access your hopper, and once you are done with the wizard and setting up your account, the features from the dashboard can be accessed. You can then subscribe to configure templates, signals, set up authentication for your account, and backtest your bot.
Lastly, both free and paid subscriptions are available to configure your bots to follow signalers within just a few clicks. Cryptohopper allows users to sign up for professional external signals, and experienced traders looking for an upward trend provide signaller service. Both buy signals and technical analysis indicators can be combined simultaneously, in addition to trailing stops and stop limits.
Cryptohopper isn't the only existing trading bot available. As mentioned above, a considerable number of active trading bot is active, but Cryptohopper is more user friendly and caters all users with different levels of experience. Listed below are other alternative trading bots and a brief description:
Cryptohopper is usually compared to 3commas, and several exchanges offered by each come to mind immediately. One recommendation in favor of 3commas is that it has an agreeing partner in Binance, resulting in a share of profits. It shows the strength that with 3commas products and Binance, faith will produce good results for their users.
Hassbot offers many features; it has arbitrage trading, backtesting, safety measures, and automatic tuning. It serves as excellent protection but is more expensive. They provide great support but aren't beginner-friendly.
They have backtesting support and also a strategy marketplace. It only deals with crypto and charges more fees. They also force you to upgrade your plan as the size of your account increases. Lastly, it does not provide you with a program.
The Cryptohopper first launched in 2017, and the company claims that they are facilitating trades for 140,000 people. It was started by two brothers: Ruud Feltkamp & Pim Feltkamp. One is a soap opera actor who turned into a successful day trader, and the other is a brilliant web developer.
Later on, they decided to merge their skills, ideas and their experiences to create a bot that will automatically make the trades for the user. It trades in varieties of coins and works any time of the day while ensuring that it is compatible with lots of cryptocurrency exchanges using API (Application Programming Interface).
The company is based in Amsterdam, The Netherlands, which is owned and operated by Cryptohopper BV. The domain of cryptohopper.com was registered in July 2017, and the team has announced that they have 75,000 users.
Users can subscribe to external signals and can manipulate trading solution as it is aimed to cater to all cryptocurrency traders at all experience levels. While many trading bots are best applicable to more experienced traders, Cryptohopper includes features aimed at newbies, including the Hopper Academy that is home to a video library, how Cryptohopper works, and the service is available to all members.
Cryptohopper Review, Conclusion
Cryptohopper provides a viable solution, and it has been engineered to answer to the general cryptocurrency community to generate profits on a more consistent basis. The mix of third party trading experts or signallers and the technical indicators creates an increased number of options for traders and the template and backtesting features.
A really great thing about Cryptohopper is that it caters to all experience levels. An example would be that if you are a beginner and don't have experience in trading but still decide to utilize automated strategies, Cryptohopper is ideal.
On the other hand, if you are a seasoned investor and want to input your trading strategies to be automated, the Cryptohopper is perfect for you. This platform is well established to serve both new and more experienced traders and incorporates beneficial and available features for all members. To put it directly, it is easy to use, well designed, and has an excellent reputation, and it is safe to say that checking it out won't be a bad idea.
With the list of comprehensive features, the excellent user interface, and support of several cryptocurrencies and nine of the leading exchanges, Cryptohopper has a lot to offer, and it does stand out well in the market. Lastly, in terms of the price, we can conclude that all of the plans offer incredible value. It provides a reasonable service for the payment, and if you are committed to an automated trading system, then Cryptohopper is what you are looking for.
- Ease of Use
- 7-day free trial
- Affordable starter pack
- Decent potential profits
- Smooth Desktop Experience
- Adequate Risks
- Poor mobile support service
- -0.5% transaction fee
- Might get exposed for unprofitable strategies
- Pay extra for signals