Cryptohopper Review 2023: Is It a Safe Bot For Trading Crypto?
Cryptohopper is an online platform that enables users and stock traders to use an actual trading bot to trade through the markets automatically. Cryptocurrency trading bots are gaining popularity across the industry with the expansion of such bots in the markets.
These competing trading bots have become quite intuitive and functional, allowing users to devise trading strategies and arm the crypto bots with all the latest insights using data. However, read our Cryptohopper review further and learn more about the trading platform.
|Available Payment Options||PayPal, Bitcoin, Bitcoin Cash, Ripple, Zcash, Monero, Litecoin, Dash|
|Supported Exchanges||Bybit, EXMO, OKX, Bitpanda Pro, Bitvavo, HitBTC, Huobi Pro, Bittrex, Binance, Coinbase Pro, Poloniex, Binance.us, Bitfinex, Kraken, KuCoin, Crypto.com|
|Plans and Pricing||Pioneer – Free
Explorer – $16.58/mo
Adventurer – $41.58/mo
Hero – $83.25/mo
|Customer Support||Access Online Chat, Email, Help Desk, and Submit a Ticket to Support|
Cryptohopper trading bot is one of the most elite trading bots in the industry, and the cryptocurrency automated trading bot also comes with various unique features that can maximize one’s performance in the crypto stock markets. Users can execute buy/sell orders based on pre-selected parameters set up in the Cryptohopper bots without having to do the transactions themselves manually. The registered company behind the platform operates out of the Netherlands.
How Does Cryptohopper Trading Bot Work?
A Cryptohopper trading bot is an automated trading tool that requires users to set the parameters for their trade and execute them accordingly. Cryptohopper semi-automated trading bot users can select the assets and their values for the trade and use several other advanced analysis tools that work in conjunction with the trading bots.
Automated online trading can also be done through a social trade functionality where the trades made are public, and beginners can get insight from the community to execute more nuanced and profitable trades. Users can also devise trading strategies based on their performance and cryptocurrency market trends and aim for a better relative strength index.
Cryptohopper Review: Pros and Cons
|In addition to the automated trading experience, the platform also offers several expert level tools for better trading that can be used by beginners and professionals alike.||The slight technical understanding of crypto trading bots might be discouraging for users who aren’t well versed with computers.|
|Cryptohopper can help users devise trading strategies based on their preferences, trading experience levels, and risk appetite.||The customer support team might not be the best in the business, and users might have to rely on the resources on the website to solve their queries.|
|The platform does not charge commissions on trades aside from the fixed monthly membership fees.||Some of the better and more useful features, as well as technical analysis, might not be available for free users.|
|There is also a mobile Cryptohopper app that further adds to the convenience of using the platform remotely and on the go.|
Key Features of Cryptohopper
Cryptohopper provides numerous features that give it an edge over most competitors. These advanced features aren’t reserved for advanced traders and can be used by new traders to up their trading game. Some of the most prominent features of the Cryptohopper crypto trading bot are listed below:-
Primarily, the bots enable users to make trades without doing the transaction each time. The users can set up the crypto bot with the parameters they want on their automatic trading platform, and then the trade would be made automatically. This also removes the urgency of having to trade at the right time for the bots to efficiently use the technical indicators to do the job without further input from the users.
Paper trading, also known as simulated trading, is a feature that allows users to conduct technical analysis on their own strategies and decisions without having to risk any financials. The exchanges done through the paper trading account do not take place in the real cryptocurrency exchanges, therefore, showing the winnings or losses as per the trades made without investing any money.
Paper trading access can be highly beneficial for new users who aren’t sure if they should execute trades they are considering, thus creating a proper investing strategy.
Known as Mirror Trading, Social Trading is one of the features that is gaining popularity with various best crypto trading bots, including the Cryptohopper marketplace. Through social trading, users can see trades that other users make and then learn from their automated trading strategies as investment advice for better trading profits.
It is important to remember that trusting the community might always be challenging, and through their own research, Copy Trading investors must use Cryptohoppers’ Copy Trading functionality efficiently.
The trailing orders feature can be set up in the bot to make the trade based on the cryptocurrency market price of any stock or asset. The bots can sell the stock if the prices decline and create a purchase order once the price increases again. The automated trading strategy follows the trails of the value of the stock and makes the trade based on these technical indicators.
The trailing stop loss is one of the best ways to minimize losses before the stock is dumped. The Trailing Stop feature makes adjustments to the order when the prices rise. Once the price dips, the trailing stop will appear and sell the position. Traders can tweak the trailing stop loss in the base config or have it added in the order in the Advanced view.
Candlestick patterns are among the most common patterns for stocks that fluctuate in price often, even if the median isn’t far from either the high or lower end of the value. These candle patterns don’t only point towards a possible change in the market, but automated bots can also recognize the trading process to perform trades.
Users can visit the Cryptohopper help documentation on the website to learn all the data patterns supported and recognized by the bots.
DCA (Dollar Cost Averaging)
As the name suggests, this feature is among the ones used for a safer approach toward trading signals in the Cryptohopper marketplace. The DCA functionality aims to invest a small amount of money over time to prevent any sudden losses or make up for a previous one. The gradual investment over time usually averages out the cost of purchase or sale at an undesired value.
As a platform that uses artificial intelligence, the Cryptohopper semi-automated bot can learn the desired trading approach for the user. Based on multiple trades in the past, the bot can constitute advice that follows the users’ trading patterns or even execute the trade if permitted on its own.
The AI behind the system studies and learns from the strategies that the user implements, perform technical analysis, and even suggests similar advanced strategies with more potential.
The Strategy Designer is an add-on to the AI trading system behind the platform. Through this, the users can choose their indicators as desired and have an algorithm set up that follows their specific patterns and trading tactics. After selecting the indicators of choice, the users can get a customized program to create and suggest an improved design for the bot trade without needing the users to write the code behind their trading strategy.
Backtesting is similar to independent financial advice on one’s past trades and comparisons made with the other trades occurring in the marketplace. The backtesting tool studies the educated financial decisions and trades cryptocurrency traders make and creates a report about one’s performance.
Staying true to its name, the pro tools are advanced trading tools (such as API keys) primarily created for developers and professionals. The API key can be used at the terminal for a bird’s eye view of the marketplace. These tools not only enable the users to customize the bot but also create their codes to set up a personal version of the Cryptohopper bot in the bull market or bear market.
Cryptohopper’s cryptocurrency trading terminal is a dashboard where the users have all the details of their entire portfolio and quick actions they can take from this page. The comprehensive trading terminal has an intuitive user interface that gives users total control of their portfolios at once and can implement their own trading strategy.
Cryptohopper trading features support the world’s largest and best cryptocurrency exchanges. The list of leading exchanges available isn’t only ideal for variety on the platform. It enables users to use more advanced tools and trade across major exchanges for different prices in real time.
CryptoTweeter can be considered a modern version of the mirror trading platform where the users can connect their Twitter account with an exchange account at Cryptohopper and make a tweet based on every trade they perform, be it manually or through the crypto trading bot. Users can select when the crypto tweeter would make a tweet and under which specific circumstances.
Market-making bots are more niche bot functionalities. With the help of this feature, the users can set up bots to buy or sell assets within a given price range (for instance, 0.3% of the given value). The purchase and sale within this price range would help crypto market makers make a profit through the trades.
Cryptohopper app is a comprehensive mobile app available for mobile devices. It implies that users aren’t limited to a desktop or laptop to execute trades, manage their assets, or set up bots to trade crypto. While mobile applications are becoming common, Cryptohopper has been able to fit all the features of its platform in the app without leaving any functionality behind.
Cryptohopper Account Sign-Up Process
Create Trading Account
The first and foremost step would be to register with the platform and choose one of the plans based on Cryptohopper pricing for the monthly membership. The users would be required to fill in their personal details before the cryptocurrency trading bot. As per our research in preparing the Cryptohopper review, these details include email, username, password, etc.
Once the credentials have been verified, the users can move on to the next step. Individuals also have the option to sign up using their existing social media accounts, such as Google, Apple, and Facebook accounts.
Set Up Your Accounts
Once the Cryptohopper account has been created, the next and most crucial step would be to connect the accounts with one’s cryptocurrency management platforms to connect the assets and financials with the Cryptohopper platform. This would include setting up exchange accounts as well as digital wallets.
Sign Up to Signallers on the Marketplace
After completing all the aforementioned steps, all that is required is to set up bots. To set up the auto trading bot based on trading strategies, one would have to select the signallers in the marketplace, which would trigger the action from the automated bot for trading signals. These signallers are highly diverse and range from crypto market trends to sudden stock dumps, trailing stop short or trailing stop buy, etc.
Solutions Offered by Cryptohopper
Asset management is one of the most innovative features offered on the Cryptohopper platform. The asset manager exists to serve a host of features. Through the asset manager, the users can monitor their funds, set up alerts, trade the stocks from the relative cryptocurrency exchanges, etc. Professional traders can also use this feature to manage their clients’ funds, as this advanced tool is equipped with several additional functionalities.
Miners and PSPs
The miners and PSPs at Cryptohopper can be connected to one’s online crypto wallets and transferred to exchanges to get assets. This is especially useful for individuals who have a regular sum of assets coming in, for instance, crypto asset mining. The rewards made from mining can be exchanged for stocks and assets automatically without requiring any manual input post the setting it up.
In order to serve the large user base of beginners in the marketplace, this service is aimed to bring one up to speed. Various sub-services are exclusively designed for individuals who wish to manage their own personal portfolios. All the tools offered can empower experienced traders to develop elite and complex strategies for trading cryptocurrencies based on multiple technical analysis indicators.
For advanced traders, the Cryptohopper has some professional tools that can be useful while trading on a large scale. These advanced tools can be used by professional investors handling their clients’ assets or firms or even individuals who are quite familiar with the ins and outs of cryptocurrency trading.
Cryptohopper Affiliate Program
Affiliate programs are quite common in industries related to the cryptocurrency market for acquiring new users and rewarding affiliates without massive investments or risks. By signing up for the affiliate program, the users can invite new individuals to the platform and earn a commission for generating traffic. The commission is formed by a fraction of the trades that the referred traders make.
On a large scale, the affiliates can get up to 15% for every payment made by the referred individual. Interested individuals also have the option to use the marketing resources offered by Cryptohopper to support their referrals.
Sells on Cryptohopper
The Cryptohopper’s platform also serves as a marketplace for strategies, actual trading bot templates, insights, etc. Advanced and experienced traders who are sure of their knowledge about these cryptocurrency markets can sell their integrated professional external signals, indicators, etc., to prospective buyers looking for additional help and information to make better trades.
This is a highly lucrative option that allows individuals to make extra money apart from the profit which might come from their portfolio in the trading process. By signing up to be an exclusive seller, the individuals can enjoy additional perks from the platform, such as greater profit percentages, more signallers, etc.
Cryptohopper Account Pricing Plans
Cryptohopper offers various monthly plans that the platform users can choose from based on their trading needs, trade volumes, and the tools required. The pricing has four options, one being the free subscription, and the highest is for $85/month (approximately). Some of the key differences in the annual pricing plans for the user’s exchange account are listed below:-
|Pioneer||Explorer (One Week Free)|| Adventurer
|All Exchanges Available||Yes||Yes||Yes||Yes|
|All Coins for Signals||No||No||No||Yes|
Cryptohopper Customer Support
The platform’s customer support is still evolving but aims to be quite prompt and responsive in its way. The customer support team can be reached via email primarily. The customers can write to “[email protected]” or “[email protected]” and get queries answered.
Since email isn’t the fastest way to communicate and solve issues, the website also offers a plethora of documents, a help desk, and information that can clear any doubts or help understand fundamentals regarding the platform’s working.
Cryptohopper Review: Conclusion
As the market continues to welcome more and more users, crypto possibilities, and avenues to make a profit, the options grow exponentially. In conclusion, CryptoHopper’s platform generally obtains high marks for user-friendliness. The all-inclusive trading terminal and simple design allow even beginners to start investing with CryptoHopper.
Cryptohopper is one of the best trading platforms and offers some of the best features for automated crypto trading through its crypto trading bots and other features. Individuals who are looking to grow their assets or manage their portfolios will stand to gain a lot from this trading platform and all of its offerings.
Cryptohopper is an easy recommendation for both amateurs and expert traders that provides a new world of possibilities for trading crypto assets effortlessly.
Is Cryptohopper Fully Automated?
Cryptohopper provides several trading modes, including semi and fully automated.
Is Cryptohopper Safe?
Yes, the platform appears safe and reliable, for it is offered to traders. At the same time, stock trading and crypto trading have an inherent risk of loss.
Is Cryptohopper a Good Trading Bot?
Yes, Cryptohopper is regarded as one of the best trading bots in the industry.
Is Cryptohopper Trustworthy?
Cryptohopper offers significant advantages to traders. Since trading comes with risks, it is crucial to know the decisions made.
Can You Use Cryptohopper for Free?
Yes, Cryptohopper offers a free membership plan enabling users to use some of the platform’s features.
How Long Does it Take to Start Cryptohopper?
After signing up with the platform, the traders can start trading within a few minutes.