Cryptohopper Review - Cryptohopper.com
All cryptocurrency traders know that making winning trades is the key to success. Many traders are turning to cryptocurrency trading bots to improve accuracy and make winning trades. One of the most popular crypto bots at the moment is Cryptohopper. This cryptocurrency trading bot strives to help traders maximize profits while minimizing loss. Here is a closer look at Cryptohopper and how it might help you trade Bitcoin and other tokens for greater profit.
There are a number of cryptocurrency trading bots on the market right now. Cryptohopper embraces empowerment as a fundamental principle of its trading bot program. Trading bots are software programs that a trader connects to their exchange account. The bot then executes trades on their behalf without the trader needing to manually initiate the trade.
It is important to note that Cryptohopper doesn’t guarantee traders a profit. It does allow traders to make more intelligent and informed trades based on proven trading strategies. Cryptohopper uses a set of algorithms that draw from historical data to predict market movements. It can do so with greater accuracy than most traders can do alone.
Cryptohopper was developed by two brothers who combined their knowledge of day trading and web development. The bot that they created works 24/7 on a variety of crypto exchanges. It is also compatible with many different crypto tokens such as Bitcoin, Ethereum, and Litecoin. Cryptohopper uses APIs to connect to a user’s trading account and make trades.
The company behind Cryptohopper is based in Amsterdam and has been in business as Cryptohopper BV since July 2017. The company’s website doesn’t give much information about the company beyond that, and this may be a cause of concern to some who are thinking about buying the bot for trading.
The Cryptohopper bot is described as semi-automated, allowing users to embrace a wide number of customizations. As stated earlier, the company is not trying to replace the human trader. It is trying to empower users to learn about the crypto markets and make more informed trades. At the present time the company claims to have in excess of 75,000 users. Most customer reviews seem to be positive. There are currently 75 tokens supported by Cryptohopper as well as numerous exchanges including Coinbase Pro, Binance, and Kraken.
Let’s explore some of the features of Cryptohopper and what makes it a good choice for active investors of Bitcoin and other cryptocurrencies.
The overall functionality of Cryptohopper is a big selling point for the company. Cryptohopper is web-based. It has a very user-friendly interface that most traders can master within a very short period of time. There are many functions of the bot that the trader can customize. These include the ability to use algorithms or social trading features.
The trading strategies that are used by Cryptohopper are derived from technical indicators such as Bollinger Bands and Moving Averages. It is also possible to configure the trading bot so that it will follow the advice of third-party trading experts. You can essentially model the trades that these experts are making and reap similar profits.
Cryptohopper uses API integration to provide semi-auotmated trading at numerous cryptocurrency exchanges. This is standard for all trading bots. The bot can be used with a desktop, laptop, tablet, or a mobile phone. We really like the options in this regard, as some trading bots cannot be managed with mobile devices.
Multiple tools are included with Cryptohopper that are designed to improve the trading experience. One of the most impressive tools is a backtesting application that can be used to analyze the effectiveness of trading strategies. There are also templates that are available, and these can be customized by the user. It is possible to set trailing stops with the bot, and this helps to minimize the risk of loss.
This trading bot is currently compatible with the following cryptocurrency exchanges:
- Binance Review
- Bitfinex Review
- Bittrex Review
- Coinbase Pro Review
- Kraken Review
- Poloniex Review
The company has stated that it also intends to announce support very soon for Bitstamp and other popular exchanges.
Cryptohopper does a decent job of providing customer service to its users. The company maintains an active social media presence with Facebook and Twitter accounts, and it also has a Telegram channel where users can interact and get responses to questions. The website has a large FAQ section, and users can also submit support tickets. Most tickets receive a response within a few hours.
Cryptohopper Pricing and Plans
Like many cryptocurrency trading bots that are available today, Cryptohopper is made available as a subscription. Users must maintain the subscription in order to use the service. Some bots have recently made the change to a one-time licensing fee, but subscriptions are still the standard. A 7-day free trial is available for those who are new to the bot, and no payment details are required to claim the free trial.
There are three subscription plans that range in price from $16.58 to $83.25 per month. The lowest of the three is priced competitively enough to encourage new bot users to try out the service. Here is a closer look at the features of each subscription level:
Cryptohopper Explorer – $16.58/Month
- 80 positions
- Supports 15 cryptocurrencies
- Can be run every ten minutes
- Offers basic support
Cryptohopper Adventure – $41.58/month
- 200 positions
- Supports 50 cryptocurrencies
- Can be run every five minutes
- Extended support
Cryptohopper Hero – $83.25/month
- 500 positions
- Supports 75 cryptocurrencies
- Can be run every two minutes
- Arbitrage support
- First line support
Cryptohopper Pros & Cons
- More affordable than other bots
- 7-day free trial
- Multiple exchanges and tokens supported
- Can be used with mobile devices
- Some customizations are limited
- Profit margins on some trades are low
Our View of Cryptohopper
Cryptohopper is a modest cryptocurrency trading bot that has decent success rates. It does not seem to be as robust as other bots in some areas, but features like being able to use the bot with a mobile device make up for that shortcoming.
Subscriptions to bots can be a pain, but we like that Cryptohopper makes its bot available for a 7-day free trial and also has a $19/month plan. That type of plan is perfect for the new bot user that wants to see what cryptocurrency trading bots are all about before they make a larger investment.
Cryptohopper uses technical data to develop trading strategies that are mildly profitable. It would be fair to say that some of the trades made with the bot offer a low profit potential, but in other cases the bot can achieve decent returns. We also like that the bot is designed to help traders sharpen their own skills so that they feel more comfortable trading on their own.