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 – 

 

  • Automatic Trading

 

 

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.

 

 

  • Mirror Trading

 

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

 

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.

 

Strategies

 

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 

 

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

 

 

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. 

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  • Strategy Designer

 

 

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. 

 

 

  • Automatic Trading

 

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.

 

 

  • The Marketplace

 

 

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. 

 

 

  • Exchange Connectivity

 

 

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 – 

 

 

  • Cloud based

 

 

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.

 

 

  • Secure

 

 

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.

 

 

  • Analysis

 

 

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. 

 

Disadvantages

 

 

  • Trust Issues 

 

 

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.

 

 

  • High cost

 

 

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.

 

 

  • Hacked

 

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. 

 

 

Pricing

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

Conclusion

 

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.