Automatic trading robots have become the latest trend for a while now. The reason everyone finds these bots so fascinating is that anyone, even a beginner who wants to trade, can start doing so. You don't need to be an expert or a professional trader to start trading cryptocurrencies. These robots give predictions about market movements. All trading bots claim to provide close to a 100% accuracy rate. But is that true? Can all trading software give you a correct prediction about the market all the time?
It is a big no. So, any beginner or professional trader must read about the trading software that he uses to trade cryptocurrency. In this situation, Cryptohopper provides an alternative. It fulfills all promises it makes. Try it now!
Cryptohopper is an innovative cryptocurrency 24*7 trading app. It has an automatic trading bot that buys the cryptocurrency at a low price and sells for a high. It trades with 12 different crypto exchanges to maximize the chances of profit. You can buy strategies, signals, and templates, then plan your strategy. Before planning your strategy, you can check the past performances of different approaches. In this case, Cryptohopper trades according to your technique.
Features of Cryptohopper
Cryptohopper is an automatic trading bot that allows trading 24*7, and 365 days a year. The app trades all cryptocurrencies and buys it when the prices are low, selling it when the prices are high. You get the opportunity to subscribe to experienced trade analysts. They share knowledge about profitable cryptocurrencies.
Market and exchange arbitrage
The prices of the pairs and exchanges can be different in some situations, due to demand and supply. You can make use of the differences in costs to make profits. That, too, without withdrawing the funds from your exchange.
Market making bot
A market maker is every crypto project or exchange's best friend. You can trade on the spread i.e., make relative value trade. It's always a win-win situation for you.
Cryptohopper allows you to buy strategies, signals, templates, and then trade. You can copy an experienced investor's trades. The templates work in unison with the strategies.
This trailing stop will prevent you from making losses. You have to set a price for trailing stop loss. When the market price of your cryptocurrency falls, a sell order generates at the stop price.
Cryptohopper helps you paper trade. You can trade without owning any exchange account for cryptocurrencies. This feature is like a trial. You can test new strategies without risk.
You can plan your strategy and prepare the hopper for trade. Strategies will control the trading parameters. Cryptohopper has a drag and drop strategy designer. Click on an indicator, set it on the buy or sell option, then configure it and save the strategy.
The backtesting feature allows you to test historical past data. You can check the past performances of different strategies. It gives you an idea of how it may perform in the future.
Cryptohopper allows you to trade in 12 top global exchanges. They are Houbi Pro, KuCoin, HitBTC, Bitvavo OKEx, Binance, Bitfinex, Binance.us, Bittrex, Coinbase Pro, Poloniex and Kraken.
How to Use Cryptohopper?
Register on the Cryptohopper website with your name, email address, username, and password. You will receive an email with a link for opening your trading account. Fund your account and you get an Application Programming Interface (API) key. Share it and start trading immediately.
Benefits of Cryptohopper
- Easy to set up and configure.
- Trades on its own.
- Easy to learn. Enormous educational tools are available.
- Completely cloud-based.
- Accessible from anywhere.
- It offers secure trading. Your money is in your trading account. No risk of loss.
- The best analysis of the market.
- Mirror trading is available. You can copy trades of an expert investor.
- Trailing stop loss feature available. It locks the profit for you.
You get a free, 7-day trial with every package. The company offers three account levels-
You can subscribe to this package for $19 per month. But, the price reduces to $16.58, when you buy the yearly subscription of the package. The Explorer Hopper package allows you to have 80 open trading positions. You get technical analysis every 10 minutes.
You can subscribe to this package for $49 per month. This is ideal for intermediate traders. It allows you more than 200 open positions and an analysis every 5 minutes. The yearly subscription is priced at $41.58.
Ideal for advanced traders, it contains features like 500 open positions. You can now execute trades at 2-minute intervals when you get an accurate analysis of the market movements. Buy the monthly package at $99 and yearly package at $83.25.
Is it easy to use for a beginner?
Yes. Register and deposit your funds on the selected exchange. You are ready to trade. You can check the tutorials or ask on the community forum if you have any queries.
Is Cryptohopper safe for use?
Cryptohopper uses a trusted firewall that guarantees your safety. Your passwords and API keys remain encrypted. You can also enable the two-factor authentication for added safety.
What is the limit to the amount of money the hopper can trade?
Cryptohopper has no trading limits. You can trade with 100 or 0.1 Bitcoins.
How can you use different exchanges?
If you want to use different exchanges or many strategies, you have to add a hopper in your subscription.
It has been 3 years now that I am trading cryptocurrencies. I used to trade on exchanges like Binance, Coinbase Pro, etc. Now, my invested money multiplied over 20 times in the past few years. So, the need of the hour was an exchange platform that will integrate all my investments in one place. When I came across Cryptohopper and read that it allows all crypto investments to be in one place, I registered immediately. I am elated that now, I don't have to sign into different trading platforms to observe all my investments. It's all in one place. I use Cryptohopper for trading now! Gary Kaplan, 35, Australia.
When I got laid off last year, I was depressed. I didn't know what I was going to do. I was good at nothing. I only had knowledge about finance, economics, and accounts. When my friend told me about Cryptohopper and that it was a great way to earn money, I was apprehensive. I didn't want to spend my hard-earned money on trading and not be sure to get results. But as I traded on Cryptohopper for the first time, I was pleasantly surprised. It gave accurate predictions about market movements. This helped me place my trades. In just a few months of using it, I have earned over $50,000. Kevin Smith, 52, United Kingdom.
Many trading platforms will boast that they are free and give a 100% correct analysis of the market. It might be free, but they don't work. On the other hand, Cryptohopper actually delivers. You have to pay a minimal subscription fee to start using the trading app. But, the technical analysis that the platform provides you with will help you execute profitable trades.
Cryptohopper is an online platform that enables the use of an automated trading bot. The bot is semi-automated, meaning you will have to implement the strategies, and the bot will place the trades on your behalf.
The platform is owned and operated by Cryptohopper BV, which is headquartered in Amsterdam, the Netherlands. The Cryptohopper platform launched in 2017, and since its release, the company claims it has had more than 140,000 users.
The Cryptohopper project was created by two brothers, Ruud Feltkamp & Pim Feltkamp, with the former having experience in day trading and web development.
The bot works on a 24/7 basis, relying on technical trading algorithms and programmed trading tactics.
Supported Currencies and Available Countries
The Cryptohopper bot supports the trading of 75 different cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, many others. The bot has a limited selection of ERC-20-based tokens, as they generally have low trading volumes.
The bot is accessible to users based in countries where the company has a regulated broker. The platform is only available in English.
Cryptohopper is entirely hosted on the cloud, so users will not be required to install anything on their computer. The bot can be accessed via web browsers running on all operating systems.
It features API integration with 11 crypto exchanges being integrated into Cryptohopper: Binance, Binance US, Coinbase Pro, Bittrex, Bitvavo, Bitfinex, Huobi, Kraken, KuCoin, Poloniex, and OKEx.
User Interface and Experience
Cryptohopper developed a simplified interface in which you can drop and drag to create an automated bot from scratch. You just have to drag the elements you want for your trading strategy, and the bot will execute them automatically.
The platform also has an advanced dashboard, which includes options such as stop-loss, take-profit, trailing stop loss, trailing stop-buy as well as a Trading View widget.
Cryptohopper includes both full auto and semi-auto trading. With full automation, the bot performs all the investment research and trading. The semi-automated trading mode collects tradable information and recommends them to the user.
There is also a mobile app for Android and iOS devices.
- Automatic Trading;
- Exchange Arbitrage;
- Market Making Bot;
- Mirror Trading;
- Trailing Stops;
- Market Orders;
- Paper Trading;
- Strategy Designer;
- Technical Analysis;
- Bear Market Tools;
How to Get a Cryptohopper Account
- On the main page, click on the “Try it now” button in the middle of the page.
- Provide the required information: name, email address, username, and password.
- Confirm your account by clicking the activation link in the sent email.
- The setup wizard will ask you what crypto exchange you would like to use for your trading, and you will have to submit the details of the exchange APIs.
How to Use Cryptohopper
- Deposit the minimum required funds into your account.
- Go to the trading dashboard and select either backtesting or demo trading.
- The demo trading account will ask you to choose a trading strategy and set stop loss and take profit functions.
- Backtesting relies on historical data, which means it will not replicate the results you will get when live trading.
The bot features three main pricing plans. There is also a free 7-day trial version called the “Pioneer Plan.” Below are the plans, their respective prices, and included features.
Pioneer Plan: Free Trial for 7 Days
- 80 positions
- Max 15 selected coins
- Max 2 triggers
- TA with 10 min interval
- 1 Simulated Trading Bot
Explorer: Starter package ($19 Per Month)
- 80 positions
- Max 15 selected coins
- Max 2 triggers
- TA with 10 min interval
- 1 Simulated Trading Bot
Adventure: Trader Plus Package ($49 Per Month)
- 200 positions
- Max 50 selected coins
- Max 5 triggers
- TA with 5 min interval
- 1 Simulated Trading Bot
- Exchange arbitrage
Hero: Pro Trader Package ($99 Per Month)
- 500 positions
- Max 75 selected coins
- Max 10 triggers
- TA with 2 min interval
- All coins for signals
- Market Arbitrage
- 1 Simulated Trading Bot
The plans can be purchased with a monthly or yearly subscription. The platform does not offer any refunds.
Cryptohopper enables users to make fiat deposits through Visa, Master Card, Wire Transfer, and e-payment processors, such as PayPal, iDEAL, Giropay, Bancontact, SOFORT Banking, EPS, Przelewy24, KBC/CBC. The platform accepts only the following cryptocurrencies as payment:
- Bitcoin (BTC);
- Litecoin (LTC);
- Dash (DASH);
- Monero (XMR);
In order to start trading with Cryptohopper, you will have to deposit a minimum of $250. The trading limits will differ according to the package you select.
The platform has limited information regarding its ownership, although the company has made available its address and is registered as Cryptohopper BV, Johan van Hasseltweg 18A 1022 WV, Amsterdam, The Netherlands.
Trading bots usually work via an API for making the trades on the exchanges, so they do not require to transfer any money to an account owned by the bot developers. The API keys are generated on the exchanges you choose, and these keys restrict the access of the bot to your trading account.
Bots are also not able to perform withdrawal as well, and neither are hackers in the event of a breach. Cryptohopper can set up two-factor authentication (2FA) to enhance their account security.
The Cryptohopper support team can only be contacted by submitting an online contact form or sending an email at [email protected] No live chat function or telephone number is available.
Users can also reach customer service via social media channels, such as Twitter, Telegram, and Facebook. There are also several FAQs included in the Support section, in addition to tutorials for using the accounts. A Cryptohopper Academy video library is also available.
While Cryptohopper has a positive score on TrustPilot of 3.5 out of 5, there are only 6 reviews.
Even if there are several reviews online, the main concern is that many do not seem genuine. Some of the reviews also claimed they had lost hundreds, even thousands through the trading app. The win percentage of the signals was also reported to be less than 65%, which meant that it took less than a month to lose their entire investment.
Several reviews have also complained that the dashboard is not that easy to use.
Cryptohopper Review: Verdict
Cryptohopper is a trading bot designed for the crypto market, which enables the fully automated and semi-automated trading of digital assets across 11 major exchanges by using a number of trading technologies and tools. But the app is rather expansive and not as convenient to use for beginners.
- Lots of features
- Easy setup & configuration
- Extra fees for signals
- Only available in English
- High fees
- Not ideal for beginners
Cryptohopper Review: How good is the Bitcoin Trading Bot?
Is Cryptohopper reliable?
➤ Crypto-invest.io has tested the bot. The bot is serious, there is nothing wrong with it.
➤ Cryptohopper is not a scam, all processes are very trustworthy
➤ Crypto-invest.io recommends the medium package, it is ideal for beginners in the price / performance ratio
Bitcoin Trading Bot
There are many Bitcoin trading bots, so how do you choose one? There are some websites claiming that a particular return of xx percent is possible with the bot. Of course that is nonsense.
A Bitcoin Trading Bot is not a goldmine that will give you some return of xx percent. Do not be blinded by such promises!
Nevertheless, the Trading Bot can offer you a nice source of income. The return depends on many factors and can not be generalized. It is quite possible to make a lot of money with it and quite passively.
The risk of losing money is much lower in the Trading Bot than just holding the coins, because as already mentioned, money can be made well in the bear market. But again, invest only money, which you are willing to lose. Now let’s take a closer look at Cryptohopper’s trading bot.
Cryptohopper is probably one of the most famous trading bots on the market. The operation is very easy and the entry to profitable trading could not be easier.
You have the possibility to “copy” strategies of experts and that fully automated. That means even the adaptation of the strategy makes the bot by itself. Especially if you try this for the first time it is difficult to decide on a specific strategy, so it might be of great benefit to profit from the experience of the professionals.
In addition, Cryptohopper is cloud-based, so your computer does not have to be on 24/7, as is the case with non-cloud-based providers.
You can also join “signal groups” and react to trading signals. The Trading Bot is thus particularly well suited for beginners.
Further, Cryptohopper can connect with almost all common Exchanges. For this, only the API key of the Exchanger with trading rights must be created and entered in Cryptohopper. This does not allow money to be sent to someone else.
Nice to know: The bot may only trade and not withdraw money or things like that. The connection to your crypto exchange is very secure.
If you do not have an account on an exchange then you can check out Coinbase* and Binance*. It is with the largest & safest stock exchanges. All of crypto-invest.io have had very good experiences with these exchanges.
What’s the price?
You pay at Cryptohopper monthly. There are 3 different packages to choose from. Moreover you have the chance to test Cryptohopper for 7 days for free. The price range of the 3 packages is between $ 19 and $ 99 monthly. Here are the prices in detail:
The packages therefore differ in the maximum number:
- open positions
- selectable coins
- adjustable trigger (which is something like a condition that a trade is executed, e.g., increase in price over a certain limit)
- and finally time intervals in which to be traded
Which package is best for you, you have to decide for yourself. The medium package worth $ 49 a month is pretty good on the price / performance ratio (compared to the competition and the cheapest package).
The medium package should therefore be completely sufficient for a normal. If you are still unsure, we recommend testing the bot for free first.
For professionals, the pro version is certainly worth $ 99, anyone who is not one of them, the medium version is enough.
Tip: We have written a detailed article for you about the settings at Cryptohopper.
crypto-invest.io tests cryptohoppers
Crypto-invest.io has tested the trading bot of Cryptohopper. The pro package was used for $ 99 for this test because we can trade the most coins here and build a lot of positions. At first we had set the strategy multiple technical analysis, as a sell signal we had set Stoch RSI, RSI and Bollinger as required. This procedure was so acceptable, but not perfect, as it turned out later. Although we had a yield of 3.77% after 4 days, the indicators stood in each other’s way.
That’s why we changed the settings afterwards. We joined several “signal groups” and received very complex settings. At least on the first day of recruitment it was possible to make a return of 4.39%. Not bad at all!
The further weekly average was then about 4% daily. In our experience 1-2% are really easy to reach, if you get a reasonable package and at least free signals to trade. Does not sound like much for you? But that’s not so much. It’s quite a bit, if you keep it that way throughout the year, you can soon retire!
Example what is possible with $ 1000 investment
Small calculation example at the end (taxation is omitted in this example for reasons of simplification).
So you invest 1000$ and then you gain for example 1% daily. After a year your compound interest is whopping your invest to 37.783,43$. That’s amazing! Not to mention what you could get out of it, you should create a higher return per day than 1%. But it is questionable whether it is possible to keep such a return constant over months or perhaps years.
What about the tax?
Are you worried about the tax if you decide to trade? There are now good ways to track the trades. Our tip is to use cointracking.info*, if you click on the link you will receive 10% on all account upgrades. Cointracking.info puts you together with a tax report, which you can use for the tax return.
At the end should be pointed out again, pay attention to your money! Invest only what you are willing to lose, because the risk of losing capital also remains with trading, even if you can minimize it.
Cryptohopper is a crypto trading bot made to help short term traders automate their already successful trading strategy and to simplify your trading process and in turn maximize your profit.
Has anyone told you about this trade bot?
Do you want to take your cryptocurrency trading to another level?
Does the program deliver what it promises and does it provide profits for its customers?
This Cryptohopper review is set to deliver an in-depth examination of what the cryptocurrency trading bot is about, how it operates, its features, its advantages as well as the supposed downsides.
What Is Cryptohopper Trading Bot?
Want to know how crypto bots work?
Read on and I will tell you.
First off, this bot is one of the best trade bots out there.
With a robot making your trades for you, you can quickly go about your daily activities without any worries about your trading because crypto bots will do that for you.
You cannot stay up the whole day and night because the cryptocurrency market is live all through the hours of the day.
Traders are now leaning towards trade bots as a means of making passive income even during their nap times.
Every trader, whether you're just starting or are already an experienced trader, can benefit from it.
Using the Cryptohopper, you can go on automation and earn money on your favorite exchange by automatically buying and selling different cryptocurrencies according to your wish.
Today this complex of a crypto bot and a provider is very convenient for users.
A lot of our users asked us about crypto signals providers listed on Cryptohopper MarketPlace - are they trusted or no?
Of course, Cryptohopper provides all the stats of every provider, but who knows if the stats is really fair?
Safetrading decided to check one provider with the help of our calculation rules and then to compare the results with Cryptohopper results.
Now we can guarantee that Cryptohopper results are fair and you can choose a provider there according to your demands.
Advantages Of Using
Here are some significant advantages of Cryptohopper, which define it as one of the best trading bots in use currently are exhaustively discussed below:
Algorithmic and Social Trading
This is the core of the exchanging bot.
Utilizing the two techniques, the dealers can configure the exchanges and the procedures that follow using the different technical indicators that can be incorporated with the bot.
The merchants likewise have a choice to pursue the calls and forecasts that are given by outsiders exchanging specialists through the crypto signals using the social trading expert of this bot.
Unlike many bots that swarm the ecosystem, it trades throughout the day based on a detailed analysis that is coded into its algorithm.
You don't need to stress over things like frenzy deals and voracious purchases since the algorithm of the bot will not allow for such exchanges to occur.
The bot works more effectively than a human broker could - working nonstop all days of the year.
It enables you to fabricate your very own techniques and increase your comfort in trading.
There are many technical indicators within the bot can be tweaked to trade the way that you like it.
Indeed, even with this customization, Cryptohopper stays perhaps the most simple bot to work, and individual systems can be imparted to other people so they can duplicate your configurations of the technical indicators.
Usually, when an average person trades, they follow the predictions and analyses that are handed out by experts on Telegram groups.
Cryptohopper strategy now allows its users to connect these groups with the bot directly, and the signals are picked up automatically by the bot, and the profits are delivered to the user.
Backtesting is a method to check the strategies by running them against the numbers in the past and checking the result.
This helps to form trading strategies that will most definitely produce results.
If you are not happy with the results, you can change your strategy entirely or tweak it a bit to get the results that you want.
The most critical aspect of trading is to make profits after investing.
When you buy a coin, you are not looking to keep it for sentimental value.
You want your investment to generate profits like any other asset.
This profit can come within seconds or minutes or sometimes even days.
The Trailing Stops feature helps you set the limits where to sell the coin and not make any hasty decisions while trading the coin yourself.
When dealing with an online crypto bot, you need to be sure that the bot will have support for the exchanges where you want to perform the trades.
Having the exchanges connected to the trading bot makes the trades fast and efficient, without the hassle of going through multiple channels.
The bot offers the option to create templates that can be used to quickly identify the markets and combine the conditions with the different strategies that you can configure for each different type.
These templates can be linked to different market triggers, such as the price of the coin or the volume being traded at the moment.
With these templates, you do not have to type out the limits each time.
Disadvantages Of Trading With Cryptohopper Bot
Since it is a matter of finance, it also has several pitfalls and loopholes which should be paid attention to.
For a bot that necessarily provides technical indicators and integrating signals in automation, the pricing for the bot is quite far-fetched.
There is a free trial available, but the features that are unlocked on the package are almost limited.
To get the full potential of the trading bot, you are obliged to pay $99 every month, but you will get much with Cryptohopper.
On paper, this number may seem less considering that promises are made for high returns.
On another note, the reviews of the people who have used the bot suggest otherwise.
The packages for the crypto bot start from $19 and rises to the $99 package.
There is a standard package also, with a $49 price tag. All these subscriptions are renewed monthly.
On the official website, there is no information regarding the creators of the bot.
There is an elaborate story given on the website that cites the beginning of the process, but there are no credentials, which is scary.
This avoids accountability and is a significant setback since many users are not able to trust the bot.
Many testimonials are available about the bot.
However, none of them seem to be written by a real user.
From the perspective of a third person, the reviews seem to be written by a group of people who merely want to promote the bot.
Why Should Traders Use This Crypto Bot?
Many have made profits and avoided heavy losses using the Cryptohopper strategy and claim that a better bot is hard to find.
Don't you wonder why?
If you do, some major features, which define it as one of the best crypto bots in use currently are exhaustively discussed below:
It attends to the needs of newcomers, who venture into the cryptocurrency trading sphere.
By this, I mean it has an exclusive beginner platform, that handles all the analysis and technicalities, till the users are comfortable and vast enough to carry on with the trading on their own.
Also, Cryptohopper offers training arenas in the form of paper trading and backtesting, making sure that traders have an opportunity to test out their new ideas and strategies, without being penalized by losses.
This gives users enough time to familiarize themselves with the market and its conditions.
Having data and applications offline is becoming a thing of the past.
The future is all based in the cloud, helping users access data without any requirement of the physical disc.
Cryptohopper is based entirely on the cloud, meaning that there is no risk of losing data due to an accidental disc wipe.
Also, this helps you gain access when you are on the road.
All you require is a stable internet connection the first time you set up this trading bot.
After that, it is all a matter of accessing it when you please.
Since Security is an essential factor when choosing a crypto trading bot, this bot offers complete, reliable security, so Cryptohopper is legit.
For instance, in case of a hack, as the Hopper cannot access funds, hackers cannot access the funds too.
For extra security, it has an option to activate two-factor authentication (2FA).
The website itself is protected using Cloudflare, and its web app firewall, as well as protection against DDOS.
The cloud, being hosted on Amazon Web Services, uses its servers, and all passwords, as well as API keys, are encrypted.
Due to a large number of technical indicators, 130+ in number, there is a significant change for optimized strategies and higher profits.
Thus, there is an option to use third-party insights, which is, therefore, a sure shot way to increase the bot's standards as its users make use of expert advice, which only proves profitable to them.
This Cryptohopper review won't be complete without mentioning the great support that the bot's team provides to its traders.
It has an excellent Knowledge Base that extensively covers all the topics.
It also has an extensive Documentation library with all detailed technical information on everything that the platform has to offer.
There is a forum for the crypto trading community and a dedicated YouTube channel where investors can learn the basics of trading and how to use this crypto trading bot.
Does Cryptohopper Work For Beginners?
If you are new to trading with this bot, you have absolutely nothing to be worried about.
The platform has been designed to be easy to use and doesn't require any professional programming experience or advanced technical knowledge or skills.
As one of the best cryptocurrency trading platforms, it also allows for comprehensive backtesting, and beginners can quickly check if their configurations are working accurately by playing around with and testing their setup.
For example, you can see how much you would have earned in the past and adjust your bots to gain a greater understanding of just how everything works while still learning the ropes.
Simply put, it is a platform that allows you to get a feel for what you are up against in a relatively safe and welcoming environment before placing money on the table.
There are active Discord and Telegram groups, in addition to a particular forum for members that is available in various languages like English, French, Spanish, Dutch, and Portuguese.
As a result, new users can converse with and learn from more experienced users from around the world, and continue to learn around the clock.
Which Subscription Plans Are Available?
We know you probably have never attempted a crypto trading bot, and you're most likely skeptical about it.
So how about we not beat around the shrub.
You most likely aren't going to attempt a cryptocurrency trading bot now if it costs you a fortune.
Now, we cannot say for sure if there are discount codes, but we have great news for you.
One of the things we like most about Cryptohopper is that it offers its customers a 7-days free trial.
Users can simply sign up and begin using the service without having to submit any payment details.
When the trial month ends, the Hopper is automatically disabled, and users can then opt to purchase a full subscription.
All the subscription plans are available right now on our platform.
Taken overall, this trading bot up ranks high up the echelon of crypto bots.
It's unique features, beginner friendliness and auto trading ability is a clear indication that the developer(s) have the interest of its users in mind.
I hope this article has provided you with the answers you've been yearning for.
Cryptocurrency bots have become quite a popular thing today. Whether the trader is amateur or professional, at some time or the other they have come across cryptocurrency trading bots. This is because, a person cannot stay up the whole day and night and the cryptocurrency market is live and volatile throughout the 84,600 seconds in the day.
Therefore, to earn the profits during the nap times, traders make use of the bots that come in quite handy while booking the profits as a sort of passive income. One of the most popular bots that is used in the automated trading of cryptocurrencies is the Cryptohopper. In this Cryptohopper review, we will cover all the features of this bot (good and bad) and check if it is actually worth the hype.
What is Cryptohopper?
Cryptohopper is advertised as a powerful trading bot, that works with complete automation. The algorithm is designed to accommodate the technical indicators that are chosen by the trader, as well as the signalers that are provided as a subscription from the company itself.
The bot works well with quite a number of exchanges, including Bittrex, Poloniex, Binance, and Bitfinex, to name a few. The interface of the bot is quite simple providing an option for the beginners to trade quite efficiently.
Since the bot is going to be trading on your behalf, the company has ensured that it uses the top of the line safety features. This makes the bot quite a useful tool, to have when you are trading funds from one account to another.
The bot has been well-reviewed by the users and there have been reports of high profits while using the Cryptohopper. Using the Cryptohopper, you can go on automation and earn money on your favorite exchange,by automatically buying and selling different cryptocurrencies.
Cryptohopper Review: Features of Cryptohopper
Since you are going to be working closely with the Cryptohopper, you should have an in-depth knowledge about the features that are offered by the bot. You should be able to build up trust with the bot, and that is possible only when you know how the bot is going to work. The bot will handle your funds and will be working throughout the day to generate profits. Here are a few of the features that set the Cryptohopper apart from the other cryptocurrency trading bots:
1. Algorithmic and Social Trading
This is the core of the Cryptohopper trading bot. The control that is behind the whole system works on two basic principles, algorithmic trading and social trading. Using the two methods, the traders are able to configure the trades and the strategies that follow using the various technical indicators that can be integrated with the bot. The traders also have an option to follow the calls and predictions that are given by third-party trading experts through the crypto signals using the social trading aspect of this bot.
2. Automatic Trading
Unlike many bots that swarm the ecosystem, Cryptohopper trades throughout the day on the basis of a detailed analysis that is coded into its algorithm. You do not have to worry about things like panic sales and greedy buys since the algorithm of the bot will not allow for such trades to happen. The bot works more efficiently than a human trader could; working round the clock all days of the year.
The trades on multiple coins are done simultaneously by the bot, unlike any human trader who can focus on a single coin properly at a time. You can set the limits to which the bot would be allowed to trade and it will keep track of all the limits without requiring any additional attention.
3. Strategy Customization
Even though the trading bot allows for the maximum profitability, professional traders like it when their own strategies are being followed to conduct the trades. This is why, there is a section in the Cryptohopper that allows you to build your own strategies and increase your comfort in trading.
There are many technical indicators within the bot that can be tweaked in order to trade the way that you like it. Even with all this customization, Cryptohopper remains one of the easiest bots to operate and personal strategies can be shared with others so that they can copy your configurations of the technical indicators.
4. Following Signals
Usually when a normal person trades, they follow the predictions and analysis that are handed out by experts on Telegram groups. Cryptohopper now allows its users to directly connect these groups with the bot and the signals are picked up automatically by the bot and the profits are delivered to the user.
There are more than 20 experts who have already connected with the Cryptohopper platform and are providing exclusive signals to the users. Since the bot is automated, the traders do not have to be even online in order to follow the signals that are given. This greatly increases the efficiency of trading because sometimes you miss out on some great signals simply because you were not online.
Backtesting is a method to check the strategies by running them against the numbers in the past and checking the result. This helps to form trading strategies that will most definitely produce results. If you are not happy with the results, you can change your strategy completely or tweak it a bit to get the results that you want. Backtesting is an important feature of Cryptohopper, helping the traders form some of the best strategies.
You can assess the results in detail, noting down all the trades that the bot performed in accordance with the configuration and make the changes accordingly. This can help predict the trades in the future but it is not a definite way of assuring profits since the market is too volatile for long-term future predictions.
6. Trailing Stops
The most important aspect of trading is to make profits after making an investment. When you buy a coin, you are not looking to keep it for sentimental value. You want your investment to generate profits like any other asset. This profit can come within seconds or minutes or sometimes even days. You do not want to sit in front of a screen and put your life on hold until you see the coin that you bought rise up the charts.
The Trailing Stops feature of Cryptohopper comes in handy here, helping you set the limits where to sell the coin and not make any hasty decisions while trading the coin yourself. Within this feature, there are five ways in which you can fix the limits of the sale, taking the backseat while Cryptohopper drives your trades.
When dealing with an online trading bot, you need to be sure that the bot will have support for the exchanges where you want to perform the trades. Cryptohopper makes life easier in this aspect, having support for multiple exchanges as mentioned earlier. Having the exchanges connected to the trading bot makes the trades fast and efficient, without the hassle of going through multiple channels.
The current supported exchanges include Poloniex, Binance, Kraken, KuCoin, Bittrex, Cryptopia, Bitfinex, and CoinBase Pro. The company claims that there are five other exchanges which will soon support the Cryptohopper trading bot in them. Huobi is the official partner of Cryptohopper and there is a special offer available for all the traders who sign up on the exchange through the code given on the official website of Cryptohopper.
8. Trading Templates
Since the market is always developing new conditions, the strategies that you configure once will not always be able to hold up to the market requirements. For different market conditions, you require different strategies. This is why, Cryptohopper offers the option to create templates that can be used to easily identify the markets and combine the conditions with the different strategies that you can configure for each different type.
These templates can be linked to different market triggers such as the price of the coin or the volume being traded at the moment. With the templates, you do not have to type out the limits each time. All you have to do is upload the template and the bot will start trading according to the strategies that are configured within that template.
9. Other Features
Apart from the features that have been discussed in detail above, there are some additional features which set the Cryptohopper trading bot apart. These are Trailing stop-loss, Trailing stop-buy, Dollar Cost Averaging, Shorting, Trailing stop-short, Config pools, Triggers, Backtesting, WalletScrubber, Auto synchronize, Reserve funds,and Manual buy and sell. All these features have been integrated into the trading bot for an easier and more efficient way of trading cryptocurrencies.
Advantages of Cryptohopper
There are many advantages to using the Cryptohopper trading bot. Some of these are commonly found in other bots as well but there are some which are unique to Cryptohopper. Each of these advantages have been discussed in detail below:
1. Completely Cloud Based
Having data and applications offline is becoming a thing of the past. The future is all based in the cloud, helping users access data without any requirement of the physical disc. Cryptohopper is based entirely on the cloud, meaning that there is no risk of losing data due to an accidental disc wipe. Also, this helps you gain access when you are on the road. All you require is a stable internet connection the first time when you set up the Cryptohopper trading bot. After that, it is all a matter of accessing it when you please.
2. Easier to Learn
Trading cryptocurrencies is becoming a hyped up career and there are people joining in on the buzz without any formal training. Cryptohopper caters to their needs as well, providing a platform to the beginners that will handle all the technicality of trading for as long as they would like. There are features built within the bot that will help the beginners learn more about crypto trading and given enough time, they can turn into professional traders as well, bringing in high profits with their investments.
When dealing in any task related to cryptocurrency, safety and security is a major issue that is often ignored by the trading bots. However, Cryptohopper takes the high road among such bots and provides an interface that is quite secure, not storing any tokens within itself. Rather, it stores all the funds within the trading accounts on the many exchanges that it supports.
4. Detailed Analysis
The Cryptohopper trading bot has one of the best technical analysis with the various indicators integrated within it. When trading in funds, you should have all the data in front of you so that you are able to make an informed decision. If you compare two traders at the same level of intellect but with one using the Cryptohopper trading bot, you will find that the one with the bot has an edge over the other one when it comes to the technical analysis of the market.
The Cryptohopper trading bot has many technical indicators that can be tweaked in order to attain the maximum profits. Another thing that makes this bot desirable is the fact that there is an option to trade according to the signals that are handed out by the third party experts on social media groups.
Disadvantages of Cryptohopper
There are always two sides to a coin. Therefore, with the various advantages, there is a list of disadvantages as well. While the unique features that are offered by Cryptohopper may seem to be quite appealing, beware of the following disadvantages since it is a matter of your finances.
1. No Creator Information
On the official website, there is no information regarding the creators of the bot. There is an elaborate story given on the website that cites the beginning of the process but there are no credentials. This avoids accountability and is a major setback since many users are not able to form trust with the bot.
2. Absence of True Testimonials
While there are many testimonials that are available about the Cryptohopper trading bot. However, none of them seem to be written by a true user. From the perspective of a third person, the reviews look to be written by a group of people who just wanted to promote the bot. There are a few other reviews which do seem genuine. However, they are not positive reviews and generally talk about how the website promised all the features but the traders were still unable to generate high profits as advertised.
For a bot that is necessarily providing normal technical indicators and integrating signals in automation, the pricing for the bot is quite high. There is a free trial available but the features that are unlocked on that package are quite limited. To get the full potential of the trading bot, you will have to pay $99 every month. On paper, this number may seem to be quite less considering the promises are made for high returns.
But again, the reviews of the people who have used the bot suggest otherwise. The packages for the Cryptohopper trading bot start from $19 and go all the way up to the $99 package. There is an intermediate package too, with a $49 price tag. All these subscriptions are renewed monthly.
Can you Really Make Money Using Cryptohopper?
This is the real question that you should be asking when going for any trading bot. In the end, it is all about the profits that you will be able to make, leaving the trading in the hands of an automated algorithm. Given the fact that Cryptohopper has all the features, technically you should be able to generate up to 100% profits on any trade. However, such a transaction happens either only in theory or once in a million trades. Other times, you will be scrambling to make to cope up with the market.
If all the trading strategies that are formed using this trading bot are applied to a slow and low risk market, you will be able to generate high profits on each trade. However, the cryptocurrency market is too volatile for high returns on investments. The bull runs in the market happen twice or thrice in a year and the rest of the times, the market is slow rising and prices have seen quite drastic drops as well.
Using the Cryptohopper trading bot or any other trading bot is quite risky. There are people who claim that using this particular bot is inefficient and you will be paying more in the monthly subscription than you make in profits. If you have prior experience in trading, you will be able to form better strategies with the least priced package and will be able to generate high returns.
However, if you are a beginner, you are in store for a long term investment into the learning process before you make substantial profits. You can expect between 1% to 10% profits on a typical trade before the risk gets too high.
Cryptocurrency is one of the booming technologies in the market currently. The ease of making a secured transaction is all a financer looks for. People have become tired of the slow bank servers and multiple authentication factors just to transfer a small amount of cash. They’re looking for a decentralised financial system.
Every cryptocurrency is volatile due to changes in the real time market, so people have to be on their toes. People always look for methods or tricks to be better than other traders. In online cryptocurrency trades, the people who constantly check the market, analyse it and perform trades stay at the top of their game.
Since people cannot be active on their trades due to emergencies or other issues, a cryptocurrency bot can actively perform trades even when you’re not active.
The bots are well automated to handle trades in cryptocurrency even when the user is away. Just by providing simple instructions, it can handle the trades with ease and also helps to make the best financial decision to maximise profits.
What is Cryptohopper?
Cryptohopper is a cryptocurrency software with a powerful automated trading bot that works 24/7 using cloud technology. It makes use of specific strategies indicators and signaler subscription to ensure that the right trade takes place without causing a huge loss. The bot can also work on semi-automatic mode in certain situations.
Cryptohopper was started by two brothers – one was a trader and the other a developer. They put their ideas together to solve the issues of trading 24/7. What started as a personal tool, grew in demand and has evolved as the company that we see today.
Other than this, there’s actually no information about the creators on the website(may be to avoid legal issues). The company is registered as Cryptohopper BV in the Netherlands.
With a volatile market, you need to have an edge over others to perform the right trades at the right time and place. But, since you aren’t always active, the Hopper can easily do all the trading for you. It can also use signals given by legitimate third party so that you make the right trade.
The cryptocurrency bot – Hopper, can automatically detect profits and convert to other cryptocurrencies with a blink of an eye. It is compatible for all kinds of markets.
Features of a Cryptohopper
The features of a cryptohopper are –
Cryptohopper was built aiming to help everyone trade easily even for those without any prior trade experience.
With no coding and some visual designers, you can set up your hopper in 5 minutes.
The cryptohopper claims to be able to track the trades of upto 75 coins simultaneously and scan them against your strategies and indicators to show your profits.
The hopper takes its automated decisions based upon multiples indicators and does pure analysis of the trades.
One of the main features of cryptohopper is mirror trading. One doesn’t need to be an expert to trade like one. Cryptohopper has many features and solutions to help you trade like a pro.
The marketplace consists of three things – signals, strategies and templates
Crypto signals are provided by third-party technical analysts who are on a constant analysis of the coins to give information about any downfall or profit.
Cryptohopper was the first to automate this process- as soon as a signal goes out, your hopper detects it and executes a buy or sell order.
A strategy is a collection of indicators that you have selected that decides the actions to be taken for any trade. These strategies have been designed by legitimate traders.
Templates are customised pre-selected coins, settings and other features that your Hopper operates on.
You can pay pro traders for their templates or start off with a free template provided by Cryptohopper.
Paper trading is a learning opportunity for traders. 100k demo coins are provided which can be traded upon. You won’t be dealing in the real exchange; rather a virtualized paper exchange to learn the ways of trading. It is the same as real trading, but in public account and not your own exchange account.
The experience is real and can be applied to your own exchange account later. The profit and loss in paper trading doesn’t affect your real exchange account.
If you ever come up with a new strategy and want to see how it would have affected your previous trades, the hopper can help you try it out with a feature called as historical backtesting.
A strategy is required to dominate any market. With cryptohopper, you can design multiple strategies to make sure you get profits and minimise your losses.
For beginners there are visual dropdowns to select the perfect strategy. For experienced coders, there’s an option to code in JSON, but most coders still go with the visual designers.
The strategy designer has more than 130+ indicators and candle patterns to select. You can create your own technical analysis to obtain the best buy or sell signal for your strategy.
You can always test your strategy in the strategy designer before taking it out to the real market. You can also use paper trading to see whether your strategy can detect the best buy or sell signals.
One of the best features of Cryptohopper is automated trading. The crypto bot works 24/7 based on your strategies and indicators. Since humans cannot trade 24/7, 365 days a year, Cryptohopper was made to handle the trades.
It is precise in its trades as it trades in real time and can track all the real time values of all coins and sell as soon as it hits a profit.
Since the whole trading platform is hosted on an AWS cloud, there is no downtime. There is no system requirement, just a healthy internet connection is the key.
Trailing Stop Loss
This feature of Cryptohopper trails the incline or decline of a coin and performs a buy or sell based upon the strategy of the user.
There are three trailing tools – trailing stop Loss, trailing stop buy, trailing stop short
After a specific profit amount your hopper will turn on stop loss. As soon as the value has dropped drastically, your hopper will sell the asset.
When using Trail Stop, it actively tracks the decline of the coins, and when the indicators indicate the perfect time to buy, at the sign of an incline, the order is placed.
Using the Trail stop short, the bot tracks the decline and, once the prices go up, a new trail begins.
Professional traders in real time markets apply to become sellers or signalers for Cryptohopper. Each such applicant is verified and assessed by Cryptohopper staff based upon their seller intentions, background and experience with the market.
The crypto signals are sent out once there is a promising increase to anyone who is subscribed to them. The strategies that you choose are designed and approved by professional traders to help make your decisions easier.
Real time market reports are generated and by following the community, anyone can access and analyse it.
With Cryptohopper supporting global markets, there needs to be a system to help users trade in every market easily and effectively. This platform is connected to 9 exchanges – Huobi, Binance, Poloniex, Bittrex, Coinbase Pro, Kraken, Bitfinex, Kucoin and Cryptopia via their API’s.
Bear Market Tools
Around 2-3 times, a bull runs in the market i.e. a sudden increase in the prices leading to profits for the traders. Generally, the cryptocurrency is a very volatile market where prices can drop or increase drastically.
Using features like shorting or triggers you can ensure that you sell before your trade goes south.
Advantages of Cryptohopper
There are so many advantages to using a crypto trading bot. There are some unique features for this bot compared to other bots. These advantages are listed below –
The future of technology is cloud based. Data has been shifted over to the cloud since quite a long time. The entire Cryptohopper platform is hosted on the AWS cloud. AWS has a pretty good reputation for its cloud services.
A good internet connection is required to use Cryptohopper, as its web based. The data is saved almost instantaneously, so there’s no issue of losing data due to a system wipe.
Easy to use
The cryptohopper also mainly focuses on new users. They have multiple forums and even a Hopper Academy, that has multiple video tutorials on Cryptohopper.
Cryptohopper has several communities to help the newbies. Users can learn from experienced traders and become better. There’s also a subreddit community that the users can use.
The whole concept of cryptocurrency is based on a decentralised financial system and security.
So yes, cryptocurrency trading is secure as long as you keep your credentials to yourself.
To perform any trade, you need to do some analysis. The hopper provides detailed analysis for the trade based upon the various selected indicators. You can take decisions easily by having a look at these analysis or let your hopper do the work for you.
Professional Trade copy
Due to various subscriptions to professional traders strategies and legitimate signalers, you can make sure that you follow the steps of a professional trader. Cryptohopper has been made very easy for first-timers to carry out the right trades.
For some reason, the website doesn’t take any names of the creators of the platform. But with some help from Google you can find it out. People have a hard time trusting this platform because of this reason.
For a volatile market, you would expect to cut your investments to a bare minimum to actually earn some profits. To use the cryptohopper to its full potential, you need to get the $99 per month plan. That seems to be a huge investment with little returns.
Loss when the Market is down
When the market is totally down, the Hopper isn’t much effective. Any increase in the prices of trades will make your Hopper buy a trade and then sell immediately if its drops.
The bot cannot manually withdraw money, it can only buy and sell trades. That’s how it’s programmed with the APIs. So, if there is a malicious activity or some hacks, the funds from your account may be dumped onto a bad sale. This has occurred in the past and hasn’t repeated again.
Can we Really Make Money with the Cryptohopper?
The first question that you should ask yourself before paying for an automated trading bot is- ‘will this actually generate any revenue?’
Markets are tricky and tough to analyse and contemplate for a normal person. There’s a reason why traders make the money that they make. It’s the experience and knowledge that plays a key role.
For experienced traders, they can easily make money using minimal subscriptions and strategies. They already know the ins and outs of the market, they can take better decisions when it comes to trades.
For a newbie, the markets might lead to tough-time financially. They must first familiarize themselves with Cryptohopper using paper trading, then after having a good knowledge on using strategies and signals effectively, they can shift over the actual markets. Else, they might end up spending more than what they get back.
Before anyone starts trading on the real market, it is advised that they go through paper trading that is provided by the platform to get a better understanding and to get familiar with it. It gives a proper tutorial with the strategies, indicators and signals.
Cryptohopper is not a free platform, there are charges for the amount of coins to trade and the indicators or signals that you can use.
The cryptohopper has 4 plans, one of them being a 7-day(1 week) free trial and other paid subscriptions. Let’s have a look at these plans –
- Free Hopper
- 80 positions
- Maximum of 15 selected coins
- Maximum of 2 triggers
- Buying within 10 minutes interval
- Paper Trading
- Explorer Hopper
- $19/ month
- 80 positions
- Maximum of 15 selected coins
- Maximum of 2 triggers
- Buying within 10 minutes interval
- Paper Trading
- Adventure Hopper
- $49/ month
- 200 positions
- Maximum of 50 selected coins
- Maximum of 5 triggers
- Buying within 5 minutes interval
- Paper Trading
- Hero Hopper
- $99/ month
- 500 positions
- Maximum of 75 selected coins
- Maximum of 10 triggers
- Technical analysis every 2 minutes
- Paper Trading
- All coins signals available
In addition to these plans every account has free features like –
- No additional fees from Cryptohopper
- A wide range of settings
- Personal and worldwide trading stats
- Instant sync with data due to cloud services
- Active support from the community and staff
Cryptohopper was created with the idea of helping the cryptocurrency community trade with their coins. It wanted to guide the traders to make better decisions and trade 24/7. It provides a lot of options with its 130+ indicators and multiple third-party signalers.
The platform is very beginner-friendly. Any newcomer can start using this platform within few minutes with help from the community and the Hopper Academy. They’ve really worked on making the platform user-friendly and easy for the newcomers.
Despite having a list-long of features and resources, there is little to no information about the creators. This is an issue that needs to be addressed and people need to know who are responsible for the platform in order to trust it with their money.
There have been issues with malicious entities performing bad trades automatically as the bot is given full access of the current account. This is one issue that has prevailed in the past and needs to be addressed by the developers. The two-factor authorisation may be able to sort this out. It is advised to not provide the main bank account access to the bot, rather an alternate account is preferred.
The bot, however, does have support for 9 global exchanges and 75 different cryptocurrencies.
It’s still considered as one of the best cryptocurrency bots available in the market and we can see why that is.
There is quite a hot market for cryptocurrency trading platforms and algorithmic trading bots. New crypto traders and active traders from capital markets are pouring in funds into algorithmic strategies and bots to make the most out of the constant opportunistic cryptocurrency fluctuation. On the other hand trading platform, providers and investment bots are tailoring their strategies to be tuned well to different scenarios depending on the type of events occurring within the market.
Due to the expansion of development from these trading bots and their adaptability to different events, the process of choosing one has become quite challenging, even for those with technical and trading background, hence at Empirica, we decided to bring knowledge about professional to interested readers and traders and our selected bot for this article is Cryptohopper.
In this review, we will cover relative features included in Cryptohopper trading platform. We analyze ways that traders can utilize Cryptohopper for their trades. We also take a look at their tool from a technical point of view (our team at Empirica has been focused on the institutional platform and market making algorithms for almost 10 years). Later in the review, we will also take a look at options we believe Cryptohopper lacks. But first and foremost:
What is Cryptohopper?
Cryptohopper is an retail algorithmic trading platform with a series of configurable trading features. Cryptohopper’s platform is shaped around 5 key elements, which each have been developed further to meet the needs of traders. The 5 key elements are:
- Mirror trading
This feature allows investors to copy the trades of experienced and successful forex investors. Strategies are available through a marketplace, some free and some paid.
- Paper trading
A simulated trading practice to assess trading algorithms with real and live data.
- Strategy designer
A technical indicator assembler which lets traders design their strategies using the listed indicators. There are currently somewhere around 130 technical indicators provided by Cryptohopper.
- Algorithmic trading
An automated way of executing trading algorithms with a specified set of configuration.
- Trailing stop
It’s a feature designed to stop strategies to operate if a defined trigger has been pulled.
Which exchanges are supported by Cryptohopper?
There are in total of 10 exchanges that are supported by Cryptohopper. Exchanges are KuCoin, Bitvavo, Binance, Coinbase pro, Bitterex, Poloniex, Kraken, Huobi, Bitfinex and Binance.US.
How can I trade with Cryptohopper?
Depending on your sophistication level and trading knowledge, Traders can utilize Cryptohopper platform to their use. There are two bots, the market-making and Arbitrage bots and there are also strategies that can be used to select a set of indicators to form a strategy.
Market Making Bot
The market making bot is designed for retail investors. It is designed to perform liquidity provision to the market of traders’ choice. The market making bot is a configurable algorithm that executes buy and/or sell (take and/or make) by placing a layered limit of buy and sell orders.
To initiate using the market making bot, traders must go through the preliminary configurations. Starts with choosing an exchange and setting up the API keys. Even using the API the fund still will be located in the exchange and in order to trade on the exchange, traders need to generate an API key and then connect that to their Cryptohopper account.
After the initial configuration, there is also a set of more advanced Market Making configuration. Market and Pricing is the second stage of Market Making setup at Cryptohopper. This stage includes configuration of the market and which pair trader is interested in. Then moving on to the strategy setup with market trends. Market trends are either uptrend, downtrend or it could stay as neutral. Additionally, the order sequence of buying and selling with a given sequence, the order layer which represents the tiered buy and sell orders that are going to be placed and the moving on to the amount constraints within layers (e.g. buy amount, higher ask and percentage lower bid).
The Cryptohopper Market Making bot is also equipped with an “Auto-cancel” functionality which based on the configuration determines when to open and close positions. There is also a time limit to trigger the cancel on the bot. Seemingly the most important feature of the Auto Cancel is the Cancel on the trend, which enables auto cancelling on the bot when the marker changes to a direction e.g. from neutral to a downtrend or from neutral to uptrend and etc. Cancellation on the bot could also be triggered with percentage change, this only happens if the market has a certain specified percentage change or within a given period. The auto-cancel feature also works with the depth limit, which Traders can set from a minimum of 1 to a maximum of 500. Additionally, Traders that are interested in Cryptohopper Market Making bot can set their “Stop-loss” settings. Stop-loss can be triggered in the event of a turn in the market.
Cryptohopper market making bot also provides a revert and backlog feature, where it can move all the failed orders to the Traders’ backlog. Traders can also revert all their cancelled orders from the backlog if Traders decide to revert back a failed market maker orders and re-execute the orders. There are many more settings on reverting back orders that can be automated with configuration, to name of the settings, only revert if it will lead to a profit, or revert/not revert with market trends such as neutral trend, downtrend or uptrend.
In order to slow down the market making bot, Cryptohopper introduced the cool down feature, which the bots cooldowns by removing the order after a certain time has passed.
Cryptohopper has designed a dashboard with some widgets for Traders to monitor the market making bot in action. There is a trading view widget which is a visual representation of the current prices.
Among other widgets available on the Cryptohopper dashboard, there is the order book visualizations with the possibility of manual Market Making which enables buying and selling to be connected to each other and will input that order into the Market Making bot logs.
Cryptohoppe also has created an inventory for all failed trades to be stored in a place called backlog. In order for Traders to be able to use the Cryptohopper Market Making bot they need to be subscribed to the “hero hopper Pro” package, which costs a monthly subscription fee of 99$.
The Arbitrage bot:
The Arbitrage bot of Cryptohopper is designed to capitalize from changes across different markets. The bot allows to trade discrepancies in the market, taking advantage in market price between the same pairs on different exchanges.
Just like the market making bot, the Arbitrage bot also requires a pre-setup procedure to get going with the bot. The procedure starts with setting up the maximum open time of all buy orders, which determined the number of minutes a buy order remains open before the order is cancelled. Following that, there is the maximum open time of all sell orders which does the same thing but for all sell orders.
The setting up procedure then takes traders to exchange setting, where traders should specify two exchanges that would like to perform their arbitrage. Afterwards, they will set the percentage sell amount, which it should use to create the amounts which are being traded and then the Arbitrage amount per market which how much of trade at a time should take place.
In case interested trader would like to utilize exchange specific configuration, they can set minimum profit that they would like arbitrage with. Additionally, there are options to have the maximum open time of the Arbitrage. Traders are also given the possibility to simultaneous arbitrages which determine the maximum number of simultaneous or concurrent arbitrages. Furthermore, they set rate on buy and sells which specify the amount the Arbitrage should check.
The Arbitrage dashboard also includes a backlog where all failed trades will be stored. The dashboard also has the latest Arbitrage trades that were both successful and failed. There are also other widgets inside the Arbitrage dashboard, e.g. exchange arbitrage dashboard results, the last five trades and market Arbitrage results.
Traders using Cryptohopper platform could create a trading strategy with a collection of indicators they have selected. These are the indicators to buy and sell trades. Cryptohopper has created a strategy designer feature where traders create and custom their strategies. There are three ways trades can utilize a strategy. First is to use Market Strategies, these are strategies bought on the Marketplace (we cover features of Marketplace later in this article). Strategies bought from Marketplace which could also be automatically be updated every time the seller of the strategy makes changes on the strategy. Second is built-in strategies, Cyrptohopper offers a set of built-in strategies that are offered free of charge. These are rather basic strategies such as uptrend strategies, buy the dip strategies, Bollinger strategies and etc. Third and last is My strategies, these are custom made strategies that traders built.
Strategy designer is a place where traders can personalize their technical analysis setting. There are given a set of indicators where traders can find and configure a wide selection of trading indicators. Traders on cryptohopper can decide on the chart period, buy and sell signals and candle period when selecting an indicator. With candle patterns, traders can directly respond to price movements from the chart data of an exchange.
Furthermore, traders can design their strategies by adding a JSON code, this section is designed for more technical and programmer traders. These traders could also modify existing strategies. Once strategies are configured and up and running, Cryptohopper strategy dashboard allows traders to monitor their strategies.
The marketplace is a section within the strategy creation process. This unit is designed solely for social and mirror trading. This is where traders with a usually lower level of experience and knowledge in trading can browse already created strategies and use it for their funds to invest with.
There is a set of strategies and templates available in the marketplace. Each template and strategy has a corresponding base-currency and exchange. Therefore templates can be chosen based on traders preferences. Additionally, all templates have information about their ratings, total downloads, modifications and recentness.
The marketplace also consists of Signalers. All signals in the marketplace correspond to an exchange. A trader can configure their trading using only signals. The Signal configuration could limit orders. The setting also allows traders to take profit with a given percentage set.
Cryptohopper provides traders with a set of statistics in order for traders to be able to monitor the performance of their strategies and trades. There is a variety of ways provided in the statistics dashboard to see how trades and strategies are performing.
The time period for all buy and sell order, allocation of funds based on currency, open positions and base currency reserved. Traders can view their profit stats basing on currency invested on, base currency returns, the base currency gained/lost in current positions and trading fees paid.
Profit based on sell triggers is another statistic available for traders to monitor profit related to percentage profit, trailing stop loss and auto close within time. Traders can also view profits based on buy triggers that we generated by strategies, signalers, trailing stop buy.
For traders who would like to be familiar with Cryptohopper as a trading platform, there is a tutorial-like instruction supported by Cryptohopper itself and other instructors can also use this academy portal to provide education knowledge to interested traders.
Cryptohopper has done a decent job working out a tool that traders would feel comfortable doing their trades. We really liked the interface and how they have designed a user journey that would fit a different type of traders with different level of expertise. The wording in the platform is well explanatory and hints around important features. Though, as a solution provider for professional crypto market makers, we believe the assessment of market trends are done manually by users and very sensitive to human error. The market making bot has a low ability to manage more market at once and needs of content human supervision.
What are the most important features of Cryptohopper?
The most important functionality of the bot is that it can automatically trade for you 24/7, 365 days a week. It is simply impossible for us to always place a trade at the right time. In addition, a bot has no emotion and trades on the basis of market data. Emotions like Panic Selling or Fear Of Missing Out can’t occur on a computer. The bot can keep track of the prices of all available coins at the same time. It can sell a coin at exactly the right moment (the right moment you specified), as soon as it has reached its profit target. This is almost impossible for a human being.
Different strategies per market
The bot acts differently in a bull market than in a bear market. In both markets it is possible to generate profits. Even in a stable market with little volatility it is possible to make small profits (scalping).
The platform runs safely and securely at Amazon Web Services. The advantage of this is that nothing needs to be installed and it is accessible for any web browser. Amazon can guarantee that the bot will always be online and additional resources will be installed when more traders will use Cryptohopper.
Another advantage is that you don’t have to pay extra for a VPS (Virtual Private Server) which is most of the time another monthly subscription.
Follow crypto signals from experts
You can subscribe to so-called crypto signals from experts. By subscribing to these signals you’ll be able to copy a strategy of an experienced trader. Your bot buys or sells exactly when the expert does. In the portal you can see the (historical) performance of all the signals and decide for yourself which one you want to subscribe to. The good performing crypto signals are not free.
This is a one time payment and ensures that the expert receives a small fee. If you want more information about a signal you can click on it. There you can find more information about the team, and how they have performed lately. You will also see reviews of users who have already subscribed. Always read these to see how the team is currently performing.
Use of trading bot templates
You can create your own trading bot templates to develop a personal trading strategy. Create a template for every market condition and easily link it to your Hopper.
Perform technical analyses
Cryptohopper is standard equipped with many indicators that can help you perform technical analyses. These indicators can be turned on or off to determine whether certain patterns from history will repeat themselves. You can determine the chance that a pattern will repeat itself again and you can respond to that.
What are the Cryptohopper costs?
Cryptohopper is free for the first 7 days, but you have to pay a monthly fee after that. We recommend that you make good use of these 7 free days, to make a well-considered choice whether you want to pay for it later. Depending on how much you trade, different packages are available.
Besides these costs, Cryptohopper does not charge any trading fees. So within the month you can trade unlimited, but please keep in mind that you still have to pay for the trading fees at the exchange.
Is Cryptohopper suitable for beginners?
Trading bots are generally only suitable for experienced traders. They are difficult to set up, have many features and require a lot of maintenance. Cryptohopper also focuses on the beginning trader. You can see this the way the portal and the wizards are developed and the documentation that is available. The platform is very user friendly and the options are clear. In the tutorials section there are many documents and videos available which explain step by step how to use Cryptohopper.
You can also try Cryptohopper by using Paper Trading. This means that you’ll only be trading on paper, but that no real trades will be placed. This way you’ll be able to try the service without losing (or gaining) any real money.
Is Cryptohopper safe?
At this moment more than 200 000 users are using the platform. There are many signal providers at the platform and it has been around for quite some time. Cryptohopper has proven to be a reliable platform and delivers its service to many customers. One thing you should know is that Cryptohopper does not guarantee profits. It is just a tool to trade more easily with more information and to get some sleep at night.
It is a Dutch company that is registered with the Dutch Chamber of Commerce. The company is called Cryptohopper B.V. and is registered at 08-12-2017. The company is located in Amsterdam at the Johan van Hasseltweg 18A. On Google Maps this looks like a standard office building. We have requested the data from the Chamber of Commerce to find out more about this company. Cryptohopper B.V. has two holding companies as directors:
- West Weather Holding B.V.
- Campfield Holding B.V.
We have also requested the persons behind these holdings:
- R. Feltkamp is the director of West Weather Holding B.V.
- P. Feltkamp is the director of Campfield Holding B.V.
Are you looking to start trading the multi-billion dollar cryptocurrency arena, but have little to no experience? If so, it might be worth considering the merits of a cryptocurrency trading bot.
This will allow you to buy and sell digital currencies without needing to sit at your computer. Instead, the bot will operate autonomously, based on its underlying pre-programmed conditions.
While a number of trading bot platforms are now available in the marketplace, the likes of Cryptohopper is often considered to be the most reliable.
As such, if you’re thinking about using Cryptohopper to engage in automated bot trading, be sure to read our comprehensive guide first. We’ve covered everything that we think you should know, such as how the bot works, what it can do, pricing, and more.
Let’s start by getting an overview of what Cryptohopper actually is.
What is Cryptohopper? An Overview
In its most basic form, Cryptohopper is an online platform that allows you to make full use of an automated trading bot. This means that trades will be placed on your behalf, based on the underlying conditions that the bot has been instructed to implement. With the Cryptohopper platform first launched in 2017, the company now claims to have facilitated trades for more than 140,000 people.
As we will discuss in more detail further down, Cryptohopper is more of a semi-automated bot. By this, we mean that the bot is only as good as the person that programs it. For example, if the bot’s primary objective is to purchase Bitcoin when it increases in value by more than 5% in a 24 hour period, then this is exactly what the bot will do.
As such, there is no guarantee that the bot will be successful in making you consistent profits. On the contrary, you could just as easily lose money.
Nevertheless, the Cryptohopper bot is currently compatible with eight leading cryptocurrency exchanges. This includes the likes of Binance, Coinbase Pro, Bittrex, Bitfinex, and KuCoin. This ensures that your automated bot has sufficient levels of liquidity to achieve its pre-programmed objectives – 24 hours per day.
One of the best benefits of using Cryptohopper is the flexibility is offers to traders of all experience levels. For example, if you’re a seasoned investor with a long-standing track record in the online trading space, then you have the option of building an automated bot to mirror your exact requirements.
In this sense, you can essentially release your ‘Secret Sauce’ into the markets on a 24 hour rolling basis. At the other end of the spectrum, if you’ve got virtually no experience in online trading, and you don’t quite feel comfortable enough to pre-program your own automated bot, you can instead purchase a strategy directly from the Cryptohopper marketplace.
Finally, it is important to note that Cryptohopper is a paid-for service. There are three different pricing plans available, and depending on your individual needs, will cost you between $19 and $99 per month.
So now we’ve provided you with an overview of what Cryptohopper is, in the next section of our guide we are going to explain how the automated bot process works in more detail.
Automated Trading at Cryptohopper: How Does it Work?
First and foremost, it is absolutely fundamental that you understand how a semi-automated trading bot works.
The reason for this is that there is often a misconception from newbies that you can simply release the bot into the wild, subsequently resulting in unforeseen profits along the way. This couldn’t be further from the truth.
Instead, automated bots function exactly how they are programmed to function. As such, the process is largely suited for those of you that want to implement your proven trading strategies in an autonomous manner.
For example, let’s say that you have found great success in swing trading Ethereum during the weekend trading period. Although you are able to execute your proven strategy manually, this requires you to sit at your computer for long periods of time – which is not only unsociable, but it can also be a cumbersome process.
On the contrary, by programming your Cryptohopper trading bot to execute your strategy on your behalf, there is no requirement for you to spend any time monitoring the markets. In fact, your automated bot can operate 24 hours per day, allowing you to execute your strategy for the entire weekend. This is a perfect example of utilizing the benefits of a Cryptohopper automated bot.
It is also important to note that an automated trading bot will allow you to avoid the emotional waves of market volatility. Too many traders place irrational orders on the back of a market swing that goes against them, which ultimately results in long-term in losses. On the other hand, bots are simply programmed to follow your instructions, and thus, they are not affected by the rollercoaster ride of cryptocurrency trading.
Automated Bot Features
If you like the sound of using Cryptohopper to facilitate your automated trading needs, we’ve listed some of the main features of the bot below.
- Bull Market If your bot is operating in a potential bull market, you can utilize the useful trailing stop loss feature. This is where you can protect your upward gains with adjustable stop losses, subsequently allowing you to exit the market when an eventual market correction does take place. The bot also allows you to search for potential pricing targets, and automatically place trading profits into a reserve fund.
- Bear Market If the markets have taken a turn for the worse, then you can instruct your bot to fully prepare by exiting a trade at the first sign of a downward trend. Alternatively, as long as you are using an eligible exchange, you can also instruct your bot to engage in short selling.
- If you’re convinced that a particular blockchain asset is only in bear market temporarily, then you can get your automated bot to facilitate dollar cost averaging. This is where your bot purchases additional coins at pre-defined intervals (such as every 5% decline in price).
- Consolidation Periods Consolidation periods or sideways markets can be a nightmare to trade. However, they also present multiple opportunities to scrape micro profits within a specific range. For example, if Bitcoin was trading in the $9,600 – $10,600 range, you could instruct your bot to enter and exit short term trades when certain triggers have been met.
Programming Your Cryptohopper Bot
As we noted earlier, your Cryptohopper trading bot is only as good as the person that programmed it – you. Don’t forget, the bot is only programmed to follow the pre-defined conditions that you implement, so an unsuccessful strategy will all-but certainly lose you money. In terms of the design process, think of it like the ‘IF/THEN’ function found within Microsoft Excel.
The IF’ part of the equation is the market trigger, and the ‘THEN’ part of the equation is what the automated bot should do when the trigger is activated.
For example, let’s say that your market trigger is Bitcoin breaking the $10,000 mark. To be sure that the pricing target is broken convincingly, you set the automated bot to trigger at $10,100. This would be the ‘IF’.
You now need to tell the bot what you want it to do when the $10,100 trigger is activated. This would be the ‘THEN’. At this point, you have a number of options – both basic and advanced. For example, you could then instruct your automated bot to engage in a trailing stop loss. In layman terms, your bot can purchase $500 worth of Bitcoin every time it increases in value by 5%.
At the same time, your bot can adjust your stop loss orders autonomously, so that when the price of Bitcoin decreases by 5% at any given time, your entire trade will be closed. The important takeaway here is that in order to achieve this strategy manually, you would literally need to be sat at your computer screen making the required adjustments. Not only this, but imagine attempting to implement a similar strategy across multiple coins? This would be a logistical nightmare.
Drop and Drag
When it comes to the end-to-end process of designing your automated bot, Cryptohopper has made the process super easy. In fact, they have created a simplified drop and drag designer that allows you to build your automated bot from the ground up.
Not only does this mean that there is no requirement to have any background in coding, but all you need to do is click on the specific indicator that you want to implement, choose whether you want to buy or sell, configure a few fundamentals such as volumes – and you’re good to go.
If you’re an experienced cryptocurrency trader, then you’ll know the importance of having a firm grasp of technical analysis. The good news is that the Cryptohopper design process allows you to integrate more than 130 technical indicators into your bot. This includes the likes of the exponential moving average (EMA), relative strength indicator (RSI), hanged man, and parabolic sar.
It goes without saying that one of the most important aspects to the Cryptohopper platform is its pre-live testing hub. In a nutshell, once you have designed your automated bot, the platform allows you test it within the strategy designer.
This allows you to see how your bot is likely to perform in the wild without risking your own money. In doing so, you can then make any necessary adjustments or additions before going live. The overarching idea here is to test, test, and re-test your bot before risking your own funds!
So now that you have a firm grasp of what your Cryptohopper bot can do, let’s take a look at the platform’s marketplace.
The second – and equally as valuable feature available at the Cryptohopper platform is that of its marketplace. Essentially, this allows you to obtain automated bot algorithms that have already been built by other traders.
While many of these pre-programmed trading strategies can be obtained for free, some come at a price. Nevertheless, the trading bots available in the marketplace come with both their advantages and disadvantages.
On the one hand, if you have virtually no experience in trading strategies and thus, the thought of releasing your own automated bot into the wild petrifies you, then you can simply obtain an automated strategy that has already been built. Each bot will of course have its own underlying strategy, and most designers do provide a full breakdown of what the bot is trained to do.
Most importantly, the underlying fundamentals built into the bot are completely transparent, meaning that you can verify the historical track-record of the bot before making a commitment. Moreover, in an eBay-style rating system, you can view the feedback posted by prior users of the strategy.
Once again, even if the bot has enjoyed a successful trading record to date, this doesn’t mean that you are guaranteed to make money. As such, you should always tread with caution when using somebody else’s strategy.
What we really like about the marketplace is that you also have the option of making further amendments to a specific bot strategy. This allows you to use the initial strategy as a template, with the view of adjusting it to your specific requirements.
How Does the Bot Trade?
If you’ve read our Cryptohopper guide up to this point, then you should have a firm grasp of what the platform offers. As such, you now need to decide whether you want to design your own bot from the ground up, tweak a pre-programmed bot from the marketplace, or mirror a marketplace bot like-for-like in its current form.
Irrespective of your chosen strategy, it is important that you have an understanding of how the bot actually implements your desired trades. First and foremost, there is no requirement to upload any funds to the Cryptohopper platform, as the bot will simply execute trades from your external trading account. For example, if you’re looking to use the bot on Binance, then you’ll need to fund your Binance account in exactly the same as you normally would.
However, in order to give your automated bot the required authority to make trades on your behalf, you still to link your external exchange API with your Cryptohopper account. The process of doing this will vary from exchange-to-exchange, although in most cases, you’ll find the API details within your account settings portal.
Finally, you then need to head over to your Cryptohopper account, and enter the required exchange API credentials. Once you’ve done this, your Cryptohopper bot can then execute trades on your behalf.
Cryptohopper Compatibility – Exchanges and Coins
At the time of writing, Cryptohopper bots are compatible with eight exchanges in total. Checkout the list below.
- Coinbase Pro
As you’ll see from the above list, the eight supported exchanges represent the vast majority of cryptocurrency trading volumes. Therefore, you’ll have no issues finding liquidity for your desired trading strategies.
In terms of what digital currencies you can trade via your Cryptohopper bot, the platform notes that this covers 75 different cryptocurrencies. This includes major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, and a number of smaller-cap projects. The reason that the platform doesn’t support more ERC-20 coins is that the underlying trading volumes are substantially too small to make it worthwhile for your bot.
The Cryptohopper platform comes with three main account tiers. This includes the Explorer Hopper at $19 per month, Adventure Hopper at $49 per month, and the top-tier package – Hero Hopper, at $99 per month.The one that you opt for will ultimately depend on your trading needs.
Firstly, the Explorer Account allows you to have upto 80 trading positions open at any given time, which is likely to be sufficient for the vast majority of us. The cheapest plan also limits you to the trading of 15 selected coins, with a maximum of two triggers. Furthermore, the Explorer Hopper plan facilitates cryptocurrency trades at 10 minute intervals.
If any of the above metrics are likely to hinder your ability to execute your chosen trading strategies, then you might need to consider the Adventure Hopper plan at $49 per month.
This increases your open order limit to 200 positions at any given time, and you can trade a whopping 50 selected coins.
Moreover, unlike the Explorer Hopper plan that limits you to just 2 triggers, the Adventure Hopper plan comes with 5. Finally, you can execute orders at intervals of 5 minutes.
If you think that you need even more flexibility with your Cryptohopper trading bot, then the premium plan comes at a price tag of $99 per month. The Hero Hopper package will permit 500 open positions, and allow you to trade the maximum allocation of 75 coins.
You’ll also be accustomed to a maximum of 10 triggers, and you can engage in technical analysis at intervals of 2 minutes. As an added bonus, the Hero Hopper plan will also allow you extract trading signals for all coins, as well as employ arbitrage strategies.
In order to pay for your chosen monthly subscription, you can either do this via PayPal, or by depositing cryptocurrency. If opting for the latter, the platform supports the following coins.
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Zcash (ZEC)
- Monero (XMR)
- Litecoin (LTC)
- Dash (DASH)
Finally, it is also worth noting that Cryptohopper offers a 7 day free trial. The trial mirrors the capabilities of the Explorer Hopper package, subsequently allowing you to get a feel of how the platform works before parting with your money. If you do opt for the trial, there is no requirement to provide any payment details, so it’s effectively risk-free.
Customer Support & Public Reviews
If you need to speak with a member of the Cryptohopper customer service team, you have the choice of submitting an online contact form, or sending the team an email at [email protected] Unfortunately, there is no live chat facility, nor can you contact the team by telephone.
In terms of public reviews on Cryptohopper, the general consensus is largely positive. While the platform does have a rather concerning TrustPilot score of just 6.1/10, this is only across 4 reviews.
Ultimately, there are no underlying concerns with the actual technology itself. The public domain seems to validate that the automated trading bot does exactly what it has been instructed to do.
When complaints have been made, this is mainly with respect to the marketplace strategies that users have purchased. However – and as we have noted throughout our review, there is no guarantee that any of the pre-programmed strategies will make you a profit. Therefore, such negative reviews should be taken with a pinch of salt.
Cryptohopper Review: The Bottom Line?
If you’ve read our Cryptohopper review from start to finish, you should now have a firm understanding of what it offers, and ultimately – whether it’s right for your individual trading needs.
The best thing about the platform is that it is suitable for all experience levels. For example, if you’ve got no experience in trading, but you still want to utilize automated strategies, then Cryptohopper is perfect.
On the other hand, if you’re a highly experienced investor and you’re looking for a way to automate your proven trading strategies on a rolling 24/7 basis, Cryptohopper is also ideal.
We also really like the drop and drag framework that the platform utilizes when it comes to designing and building your bespoke automated strategies. As such, there is no need to have any understanding of programing or coding, which is exactly how it should be.
Finally, in terms of pricing, we think that all three plans offer excellent value. Even at a price tag of $99 per month, in the grand scheme of things this is a reasonable price to pay if you’re serious about committing to an automated trading system.
Cryptocurrency trading can be a complicated ordeal. As we will explain in this Cryptohopper review, crypto prices are very fickle, ultimately depending on various factors ranging from general market conditions to the limitations of human nature. Some of those factors can be controlled/predicted, and this is where cryptocurrency and altcoin bots come in.
Cryptohopper is a cryptocurrency trading bot created to simplify the trading process, and provide assistance to traders no matter their experience level so the can make the most of their trading opportunities, maximize their profits and reduce the chance of losses.
A bot is essentially a piece of pre-programmed software; it requires a certain amount of human input to operate properly. To explain it bluntly, a human programmer/trader sets up the software in a way he believes will result in profit, sets it loose onto the market and hopefully starts earning money.
|? Price||Free Trial / $19 / $49 / $99 Per Month|
|? Payment Options||PayPal / Bank Transfer / Crypto|
|? Exchange Support||OKEX / KuCoin / Bitvavo / Binance / Binance US / Coinbase Pro
Bittrex / Poloniex / Kraken / Bitfinex / Huobi
|? Signals||Marketplace of Free & Paid Signals|
|? Strategies||30+ Indicators / 90+ Candle Patterns|
Bots are capable of overcoming most limitations of the average trader: they can trade 24/7 without the need to rest or eat and without succumbing to human emotions. As such, they do have a certain appeal, especially to people who aren’t willing to spend their entire lives staring at charts and making trade orders. That being said, we decided to take a look at one of the currently available market options called Cryptohopper.
Cryptohopper trading bot is a rather young automated crypto trading platform, having its domain originally registered in July 2017. Created by two brothers from the Netherlands, one a day trader, and the other a web developer, it can brag about having a perfect blend of experience and knowledge – both in the worlds of trading/technology – behind it from the start. The two merged their ideas, skills, and experiences and created Cryptohopper.
Below is a quick rundown about top 3 bots, based on their most prolific properties:
Friendly User Interface
When it comes to the end-to-end process of designing your automated bot, Cryptohopper has made the process super simple. In fact, they have created a simplified drop and drag designer that allows you to design your automated bot from the ground up.
All you need to do is click on the specific indicator that you want to implement, choose whether you want to buy or sell, configure a few fundamentals such as volumes – and you’re good to go.
Advanced dashboard for semi-automatic trades
This is the latest Cryptohopper feature geared at crypto traders who prefer semi-automatic trading.
This new dashboard lets users use advanced order options such as stop-loss, take-profit, trailing stop loss, trailing stop-buy and place an order by selecting a place-in directly through the order book.
Additionally, completed buy orders directly show up in your positions so you can track profits. Advanced dashboard also features a Trading View widget which enables traders to analyze the market, while visually seeing your orders in TradingView.
This is essentially a central hub for all your trading needs, similar to what Coinigy offers.
The bot can connect to a wide variety of exchange Application Programming Interfaces (APIs) and trade a significant pool of coins automatically, 24/7. It currently offers integration with the following exchanges:
- Huobi – premium Cryptohopper partner
- Coinbase Pro
Work is apparently being done to integrate the bot with HitBTC, Cobinhood, Cex.io, Bitstamp and bitFlyer APIs.
Cryptohopper is different than most of the market competitors in the sense that it’s web-based; it’s stored on the company’s servers, operates on a cloud-like infrastructure and can be accessed through any web browser. While the advantages of this include fast and simple access to the bot, without needing any additional hardware to set it up and keep it running, the downsides are that the bot can suffer slowdowns at times of high website traffic.
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Cryptohopper offers a wide array of features:
- Automatic trading: automated trading of your favorite coins. Set up your own trading strategy and let the bot trade for you.
- Crypto signals: Alternatively, if you don’t want to/don’t know how to set up your own strategies, the bot allows you to automate your trading by copying signals sent to you by third-party technical analysts (signalers).
- Risk-minimizing features: constant automatic price trailing, trailing stop-shorts, trailing stop-buys, stop-losses and sell with profit options limit your chance of losing everything you have.
- Trading bot templates: save and load your own templates to quickly setup and change your trading bots.
- Technical analysis: the bot offers dozens of volatility, trend and volume indicators as well as tools to perform technical analysis of the market, all of which helps you determine the ultimate trading strategy.
- Backtesting: lets you analyze data from the past, which can help you fine tune your trading strategy for optimal profitability.
Cryptohopper is relatively easy to get into; you need to first create an account on the platform; Once the account is created, you’ll be given access to your hopper, aka the actual trading bot. After doing that, you need to select your and connect it to your hopper by entering the exchange wallet’s trade-only API keys. The entire process is made simpler thanks to a useful wizard which will lead you through every step of the way.
Automated Bot Features
Some of the additional features of Cryptohopper are:
- Bull Market If your bot is operating in a potential bull market, you can utilize the useful trailing stop loss feature. This is how you can protect your trading gains with adjustable stop losses, subsequently allowing you to exit your positions when an eventual market correction does take place. The bot also allows you to search for potential pricing targets, and automatically place trading profits into a reserve fund.
- Bear Market If the markets have taken a downturn, then you can program your bot to be ready to exit a trade at the first sign of a downward trend.
- If you’re convinced that a particular crypto asset is only in bear market temporarily, then you can get your automated bot to facilitate dollar cost averaging. This is where your bot purchases additional coins at pre-defined intervals (such as every 5% decline in price).
- Consolidation Periods Consolidation periods or sideways markets can be a nightmare to trade. However, they also present multiple opportunities to scrape micro profits within a specific range. For example, if Bitcoin was trading in the $9,600 – $10,600 range, you could instruct your bot to enter and exit short term trades when certain triggers have been met.
The bot will require a trading strategy to operate and trade for you. While other bots come with pre-programmed strategies, Cryptohopper mostly requires you to create a custom strategy using its tools. A user gets to set up the bot parameters himself, but the process isn’t that complicated; you’ll be given a host of settings that you can tweak and adjust in a way which you believe will bring you the biggest profit. Some of the strategies you’ll find when trading with Cryptohopper include:
- Trailing stop-loss
- Trailing stop-buy
- Dollar Cost Averaging
- Trailing stop-short
- Config pools
- Auto synchronize
- Reserve funds
- Manual buy and sell
Ultimately, you’ll be able to either set up your own strategy or rely on outside signals.
Cryptohopper Account Registration
Registering an account on Cryptohopper platform is a simple process as the main page has a prominent green “Signup” tab at the top of the page.
1) Create an Account
Open the Cryptohopper website and fill out the required information: name, email address, username, and password in order to sign up.
You then need to confirm your email account by clicking the activation link you will receive in your inbox, and gain access to the dashboard.
2) Setup your Account
After you are in, the platform has a convenient setup wizard that will lead you through the account configuration and do things like exchange API keys integration and other mandatory configurations.
After this, you are ready to use the bot. It is that simple.
You can subscribe to signals, configure templates, and begin backtesting the Hopper, as well as add more security by setting up the two factor authentication on your account.
3) Cryptohopper Signals Review: How to Signup to Signallers
Cryptohopper enables users to sign up to integrated professional external signals, a service that is provided by experienced traders who look for positive signs of an upward move. There are two options: both free and paid subscriptions to signallers.
Signals/signalers are an interesting feature of Cryptohopper, reminding us of the social trading elements we saw with platforms like eToro or Genesis Vision.
Signals are inputs sent by trading groups called signalers; your bot can use these signals to adjust its trading behavior. Cryptohopper has 20+ crypto signalers and all of them have their own signal track record visible to everyone. That way the person using the bot can check out signalers’ past work and choose to follow his signals, if he/she feels that signaler was on point with his calls.
When a signaler sends out a trade signal, user’s bot will pick up on it instantaneously and automatically and execute what the signal told him to. It’s also possible to follow multiple signalers at the same time. Some signalers are free, others require certain compensation for their signals. So far, Cryptohopper is the only automatic trading platform to embed signalers onto its platform.
Each user is given significant flexibility with his trading strategy. He can choose not to tweak the hopper (bot) much, leaving his trading fortunes to the default settings. He can also dig deep and either learn how to use Cryptohopper tools to analyze various technical indicators himself or sign up for automated signals with one of the third party signalers available on the platform. You can create several strategies, either for different coins or for different (bear/sideways/bull) markets. Bots trading features can also be turned off at your volition. There is much more to say about the bot; all of it is explained in detail in Cryptohopper documentation which we’ll cover a bit later in the article.
Cryptohopper service uses a subscription model with 3 plans on offer:
All accounts include 0 additional trading fees from Cryptohopper, buy settings lower bids, cooldown, trailing stop, settings like stop loss, TSL, auto close, and DCA, personal & global trading stats, 120+ indicators & candle patterns, syncing/tracking/selling manual buys, strategy backtesting with historical data, active community and staff support, and a reserve section to manage savings.
Once you access the Cryptohopper website you’ll be able to enter a 7-day trial of the Explorer Hopper.
Alternatively you can get a 30-day free trial period of the same plan if you sign up via a referral; either way you’ll get to know the software better and decide if you want to purchase one of the full packages listed above. Cryptohopper also offers enterprise-grade custom-tailored packages for more serious clients. The packages can be bought either on a monthly basis or full year in advance.
According to its promotional material, the bot is capable of giving you a steady stream of profits even if you have little to no knowledge about cryptocurrency trading.
The claim is head-scratching at best, as money-making schemes which brag about how “easy” and “simple” it is to achieve constant profits usually turn out to be complete scams. Still, we can give Cryptohopper the benefit of the doubt here, as their claims and marketing aren’t that outlandish and are in line with typical modern-day western advertising practices.
Paying with cryptocurrencies on Cryptohopper
In order to pay for your chosen monthly subscription, you can either do this via PayPal, or by depositing cryptocurrency. If choosing the latter, the platform supports the following coins.
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Zcash (ZEC)
- Monero (XMR)
- Litecoin (LTC)
- Dash (DASH)
Cryptohopper Customer Support
Cryptohopper has a rather active community behind it. While their Reddit page hasn’t seen much activity in a while, they have a very lively Discord where users can go and ask any sorts of questions about the bot. A good source of information/communication is the Cryptohopper forum, which you can access once you create an account on the bot’s website.
Cryptohopper website also has an interactive helpdesk which you can use to find a solution for your bot-related problems. From getting started with the bot, over configuration and general questions, to strategy designing and internal features of Cryptohopper, the knowledge base offered here is really good.
Knowledgebase and extensive QA
Besides those direct means of support, the project offers an extensive library of resources for getting started with/troubleshooting the bot. The resources section of their website contains detailed tutorials on how to set up Cryptohopper and its tools. These tutorials are laid out in a simple, step by step manner, making it very easy to digest and apply the instructions. Furthermore, you can use the extensive documentation section, this relatively regularly updated blog or this community-created review if you are interested in learning more about Cryptohopper, bots and trading in general.
Cryptohopper is a trading bot that offers some interesting features, including cloud trading, some social trading options and a large variety of coins/exchanges to trade on/with. Stop losses and trailing stops are especially welcome elements here, as they help you tremendously with risk management. As with any trading bot, you’ll find conflicting reports regarding its effectiveness, functionality and safety.
While Cryptohopper is in its essence an algorithmic trading platform, it is easy to setup and use and is a perfect fit for both newer traders as well as more experienced practitioners.
The development of the Cryptohopper Academy video series and multi-lingual Hopper forum are enormously helpful for traders who are only just dipping their toes into the turbulent waters of crypto trading.
With its comprehensive list of features, general user-friendliness, and support for 75 different cryptocurrencies and nine leading exchanges, Cryptohopper has a lot going for it and does well to stand out it a market full of competing trading bots and cryptocurrency management platforms.
One important notice for all users of crypto bots or any crypto service – pay attention to best practices when it comes to your device security. Cryptocurrencies are a honeypot for all top-notch dark hackers and your money could be gone very fast if you are not cautious.
As a result, it’s best to set up 2FA on your account, and to make full use of the free trial run, as well as make a modest financial commitment to start off. It may also be a good idea to connect the bot with a live account that contains a moderate amount of funds as there is less to risk if the bot underperforms or the signals do not generate the expected results.
It’s also important to note that while trading bots do not have withdrawal access, if they become compromised malicious actors can take advantage of a bot’s API access to buy extremely low value coins that are then “pumped and dumped” on other exchanges.
Furthermore, users have reported that the free third party signals are of a low quality, especially in sideways or bearish markets as the notifications arrive too late, and expose the trading bot to sudden downturns.
Still, a couple of negative reviews here and there can be brushed aside; not everyone will be able to grasp the concepts related to Cryptohopper (no matter its relative ease of use) and sometimes people’s experience will suffer due to their own hardware/internet. That shouldn’t scare you away, as this bot is one of the more user-friendly ones on the market. Ultimately, Cryptohopper is a fully functional, legitimate tool which can, with some hard work and a bit of luck, potentially help anyone turn a profit by trading crypto.