Cryptohopper Review 2022: A Full Guide to the Cryptocurrency Trading Bot – GOBankingRates




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Unlike normal stocks, crypto trading takes place 24/7 and that is why traders must be always aware to take advantage of any probable price changes. However, it might not be possible for a user to stay online at all times. Trading bots can offer a convenient solution to this problem by facilitating automated trades according to the instructions provided by the user.
Cryptohopper is one of the most popular crypto trading bots that allows you to connect to your crypto exchange and automate the trading process. It uses sophisticated AI-powered tools to manage your crypto portfolio and easily conduct trades.
With the help of Cryptohopper, traders can imitate the strategy of other traders and get involved in advanced tools like market-making, arbitrage and backtesting.
Cryptohopper was founded in 2017 by two Dutch brothers Ruud Feltkamp and Pim Feltkamp. They wanted to combine advanced trading strategies with technological aid so that traders could automate their trading process. The company has grown rapidly since its inception and now they have innovated a bot that hosts over nine million transactions worth around $2 billion every month.
Crypto trading is relatively new to most traders and investors and that is why bots can be quite helpful for beginners. Here are some of the key features of Cryptohopper that will help you in understanding its suitability and how it might work for you.
Based on the trader’s needs, Cryptohopper offers four kinds of subscriptions that are listed as follows:
Cryptohopper provides numerous features on its platform that are suitable for all kinds of traders. Automatic trading is the most common and popular reason why people prefer to use a crypto trading bot like Cryptohopper.
Since crypto markets are extremely volatile and traders are often confused regarding their positions, automatic trading can help them in making systematic investments or cashing them out depending on the market movements.
If you are unsure about the specifics of automatic trading, you can also opt for semi-automatic crypto trading that is conducted on the Cryptohopper platform with the help of API-powered technology. Portfolio management is also an important feature offered by Cryptohopper. By creating “Hoppers,” you can link these to all your exchange accounts.
If you are a professional trader, Cryptohopper offers you advanced tools to conduct both fundamental and technical analyses. The more high-end packages like Adventurer or Hero provide access to multiple trading positions, mirror trading and trailing.
Mirror trading is when you customize your bots to follow the signals to mirror or copy the trading signals sent out by signalers.
Trailing features in Cryptohopper allow you to follow the prices of your desired coins and take some action at the right time. Such action can include taking out the profits when the prices are falling or placing a buy order when the prices begin rising.
Currently, Cryptohopper supports integrations with 18 crypto exchanges, which might include:
This is an extremely beneficial feature that can allow users to connect their accounts across all these platforms under the umbrella of Cryptohopper.
Cryptohopper is extremely easy-to-use, and the interface is convenient for all types of users. Even if you have no experience in crypto trading, you will be able to navigate your way around the platform. It also has a very detailed blog where every feature is explained thoroughly along with tutorial videos. The Frequently Asked Questions section is also quite comprehensive, and it allows you to raise tickets for your specific queries.
Cryptohopper provides several advanced trading tools for professional crypto traders. However, it also helps out the newbies with different types of tutorials and user-friendly options. Even if you are completely new to crypto trading bots, you can easily start your journey with Cryptohopper. The support options and blogs are very well-prepared, and every element is explained in great detail. If you take some time to read all the information and watch the tutorial videos, you can easily develop your expertise in this area.
There are quite a few options when it comes to crypto trading sites. Here are a few other options that are similar to Cryptohopper:
3Commas is a crypto trading platform that allows manual trading along with automated trading with the help of trading bots. Like Cryptohopper, it supports integrations with 18 popular crypto exchanges such as Binance, FTX, Bittrex, Bitstamp, Kraken, Coinbase and more.
3Commas has a free plan that offers a single bot for Options and GRID. If you make an annual payment, the most expensive Pro plan costs $49.50 per month and offers unlimited GRID bots, Options Bots, Scalper Terminal and even paper trading. It is much cheaper than Cryptohopper but does not offer most of the features for advanced trading.
Pionex is a crypto trading bot that allows automated trading and provides integration with platforms like Binance, Huobi global and Pionex. Unlike Cryptohopper, Pionex has a lifetime free subscription for all its members. It has a Money Services Business license issued by FinCEN which ensures safe and secured trading on its platform.
Cryptohopper is a great option for beginners and professionals because of the advanced trading options and user-friendly interface. It can help you to earn passive income by conducting automated crypto trades.
Getting started with Cryptohopper is pretty simple. You need to provide a username, email, and password to create an account or you can also use your social media accounts like Google, Meta, or Apple to sign in. Once you have created your account, you need to set up your Hopper or bot to start trading.
To set up your bot, you will have to provide some personal details, then connect to an exchange, and set a quote currency that you will use to buy coins. Initially, you can use a mirror strategy to follow signals and then configure your bot with more advanced features as you learn the nuances of crypto technical analysis.
If you want to learn how crypto trading works with a trading bot, you can use Cryptohopper to educate yourself properly. It is also suitable for professional traders who want to get involved in advanced crypto trading strategies.
Cryptohopper is a decent platform that integrates AI-powered technology and enables crypto trading through bots. The integration with most of the popular crypto trading platforms is also an added advantage. However, the free Pioneer package has very limited features and if you want to get a true taste of how it works, you will need to spend a lot of money every month.
If you are a professional trader, then the Hero package might not seem very expensive to you, but it will certainly burn a hole in a beginner’s pocket who is just trying to learn the basics of crypto trading. Cryptohopper gives a good range of features but ultimately it is for you to decide if you want to use automated crypto buying.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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