Well, you must be familiar with cryptocurrency by now. If not, let us brief you. It is basically a decentralized digital currency that is entirely independent and is not controlled by any government.
But the cryptocurrency market is very volatile and fickle. If you invest in that market, you have to be insanely vigilant about the price. You have to sit in front of the computer all the time. But that is neither feasible or profitable.
Now alternative, you can hire someone with expertise in this field to do the job for you, but more often than not, they are wrong. That is because the investment market depends on a huge number of factors that can’t always be accounted for. Upon that, the charge you an excessive amount of money for their services that aren’t even bringing you profits.
But there’s another way you could have a look at the market all the time. Best trading bots are built to solve this problem. They are designed to monitor the market all the time and invest or withdraw on your behalf whenever it’s best for you. All of that without you having to press a button.
Now, Cryptohopper is one such service. It is designed to work for you to make the most out of your investments. That is because not everyone is equipped with all the tools for the investment market. It makes it difficult for a newbie to navigate this sector. That is exactly why Cryptohopper was built to be a guiding lamp for the people who have no prior experience and a tool for the experienced one.
This article is a Cryptohopper review where you will know all about this bot to get you started on your investments today.
What is Cryptohopper?
It is an automated bot that is designed to provide you with service in the investment and withdrawal of your money in the cryptocurrency market. It is automated, as you won’t have to do a thing after setting it up the first time. This bot is designed to be completely self-sufficient.
It manages all your trades and investment very effectively as it does all the heavy lifting based on an algorithm. This algorithm is tweaked very often to be ahead in the game and to make you more profit whenever possible.
You have to sign in to the Cryptohopper platform with a new or existing account and then fill in your preferences and strategies ( you can even choose from a set of predefined, tested strategy if you are new to this game) and the platform does the rest for you. Then based on that strategy, the Cryptohopper platform will do trades on your behalf, ensuring you get the maximum return from your investments.
Now, we have been throwing around the word “strategy” a lot here. Now you may be asking what it is in the first place. Them lets enlighten you. A strategy is an algorithm you choose for your trading. The trading happens based on the algorithm you choose, and your profits (or loss) will be based on that strategy.
Now, it might be a little daunting to hear, but if you are a newbie, then you don’t need to worry about a thing. That’s because there are tried and tested strategies already present on this platform that has performed well for many users. You can apply them to your trading while you are in the learning curve of this process.
CryptoHopper Review 2020: Features
Cryptohopper is one of the leading platforms in the trading bot sector. It is because of the numerous features this platform offers to its users that makes the trading experience easy and seamless.
Now, as humans, we have a tendency to take radical decisions that are based on panic, greed, or emotion at large. And these decisions end up making huge losses for you. This platform is data-driven which means all the calculations, and analysis is done purely based on data. And the final decision is also taken based on these data.
The interface of this platform is very intuitive, making it easier to navigate. The platform is designed keeping people with various levels of experience in mind. So, newcomer finds it as easy to use as an experienced trader. You can set the platform according to your preference in 5 minutes or less, and then you’re good to go.
This platform also comes with the super tracking technology that enables it to track as many as 75 coins simultaneously, and also it scans them according to your strategies to make the most out of your investments. Also, you get to trade 24/7 for 365 days a year, without any limitations, and you can even sell or buy any time you want.
1. Automated Trades
Cryptohopper is pretty different from the rest of the bots in the market. Based on algorithms, Cryptohopper trades throughout the day, also keeping an eye on the market at the same time. Greedy buys and panic sales are not in its DNA; hence you won’t have to worry about it even a little bit. The efficiency of this bird is much higher than any human and also works throughout the day without tiring itself.
The not also has the ability to trade multiple types of crypto coins simultaneously, which is way more than what a human brain can accomplish. All you need to do is set limits up to which the bot can trade, and that’s it. It will do all on its own.
2. Custom Strategies
Yes, it is true that the bot works on its own to bring the best out of your investments, but professional traders who have been in this business for a while now, like it better when they get to control as much of the trading process as possible. Cryptohopper gives these veterans precisely that. It allows you to build your own strategies, and this increases your comfort with the platform.
There are a significant number of technical indicators in the platform that can be tweaked according to your needs. Upon that you can even share your strategies with others to give them a chance to analyze your strategy. That way, your approach also improves over time as the market changes.
It is one of the advanced features of the platform. The Backtesting method allows you to run your strategy on the past numbers and then display the result to you. That way, you get to know whether your plan is good or not. So you get to tweak your plan to get the best out one before applying it to the real market.
It is because of this feature that the platform has some of the best strategies on cryptocurrencies. The result of Backtesting is very detailed as well as allowing you to analyze the strategy thoroughly. There’s always a chance that a successful backtested strategy might not perform well in the current market as this is a very volatile market, but it is always good to have that option.
4. Trailing Stops
The only goal of making an investment is to make a profit. Therefore whenever you are buying a gay Crypto coin, you are investing in it to make a profit and not to keep it with some sentimental value. That’s the whole point of this transaction. But the gain on the investment can come within seconds, days, or even months. It’s practically impossible to sit in front of the screen with the rise-up chart to make the deal when the profit is maximum.
The trailing stop feature of Cryptohopper helps you to set the limit for the bot about when to sell or buy the coins without making any rash decisions. There are five ways in which these features using which you can set the limits for various parameters, after which you can just sit back and let Cryptohopper do all the heavy lifting for you.
5. Exchanges Supported
Exchanges are the place where all the trading happens, but to have a successful trade, your bot should support that exchange. In that aspect, Cryptohopper makes it easier as it supports multiple exchanges, which improves your chances for investment and consequently, profit. Exchanges also help you to do all the transactions faster without the need to go through various channels, which is a hectic process.
Many popular exchanges like Binance, Bitrrex, KuCoin, Poloniex, Kraken, CoinBase Pro, Bitfinex, and Cryptopia are supported by this platform, making it easier for the users to trade through their favorite exchanges. Apart from these, the company is working on to add five more exchanges that Cryptohopper has claimed to support in the near future. The official partner of Cryptohopper is Huobi; thus you will get an extra special offer if you sign up for Huobi via the Cryptohopper unique code ( which is available on the official website of Cryptohopper).
6. Trading Templates
Then the only thing that is true for this trading market is the fact that it’s very volatile, and new conditions arose all the time with new opportunities. Hence the strategy that you place once in the bot won’t work forever as market requirements change all the time. Different scenarios demand different approaches. Therefore Cryptohopper platform offers you the option to save and create templates that can be used when a particular market situation arises. So in a template, you can use a different strategy for different market conditions, and that strategy comes to play when the corresponding conditions occur.
The trigger can be anything like the volume of coin traded or the price of the coin, and also you won’t have to set limits every time. You just need to upload the template with all the conditions and trading will happen according to those parameters.
8. Additional Features
A few of the additional features that come with this platform are
- Trailing stop loss
- Dollar-cost Averaging
- Trailing stop buy
- Config pools
- Trailing stop short
- Wallets rubber
- Auto synchronization
- Manual buy and sell
- Reverse funds
Each of these features is designed and embedded into the platform to enhance your trading experience and also to provide you with enough tools to make as much profit from your investments as possible.
Advantages of Cryptohopper
1. Entirety cloud-based
You won’t download any application or save data offline on how to make this work properly. It is entirely a cloud-based platform, and all the changes you do are saved dynamically in the platform. You won’t lose your data ever, and also using it while you are on the road is pretty easy too. A stable and reliable internet connection and you are good to go with your trading.
2. Very intuitive platform
Nowadays, many people are drawn towards the cryptocurrency buzz and want to invest. Most of them have no prior experience. Cryptohopper comes in handy to all those newbies and beyond. It’s UI is designed to be very intuitive, making it easier for inexperienced users to use and learn it very quickly. It also is laced with advanced tools for the more experienced traders who want to have full control over all the parameters.
3. Very secure
One of the primary focuses of this platform is to create and maintain a secure and stable environment for traders to come and trade without having to worry about any cyberattacks. Cryptohopper makes the platform very safe as it doesn’t collect any token from your trades rather, all your money is kept in the accounts of the very exchange you are using for the trade.
4. Detailed analysis
The Cryptohopper platform comes with a ton of indicators that help you do all the technical analysis easily. When the money is in the investment phase, you get to see all the parameters in front of you to make a well-informed decision. Clearly, in technical regards, Cryptohopper has the edge over its competitors, making it ideal for traders.
All the information from the technical indicators are used to tweak the current strategy so that you end up with maximum profit possible. Such optimization is hard to find in other platforms making Cryptohopper more desirable to traders.
Disadvantages of Cryptohopper
As we all know, everything comes with its own set of downers. This platform is no different. Although it comes with some great features, it certainly lacks accountability.
1. Lack of Accountability
On the official website, it’s only noted that the service was started by two brothers and the initial phase of this platform, but there are no credentials whatsoever. It clearly shows the lack of accountability if anything goes sideways.
2. Lack of True Testimonials
The websites have a lot of testimonials, but none of them seems to be from genuine users of this platform. The testimony looks like a bunch of people promoting the website ( a few did look credible, though). But the reliable reviews are more like complaints than praise.
Can we Make Money With Cryptohopper?
It is probably the most important question about this bot service. Well, the answer is yes and no. Let me explain. The bot is designed to bring you as much profit as possible, given there is a chance of profit, to begin with.
Sometimes the market (which is very volatile and unpredictable) comes crashing or might experience a dip in the pricing. In such a scenario, profits can’t be made as the market is down. So if you expect the bot to bring you profit, that’s just unreasonable. But what the bot can do is to save you from heavy losses. The bot is designed to monitor the market for such dips and withdraw your precious money as soon as it senses one.
To be fair, it can provide you with a 100% profit, but that’s a chance in a million. As the Crypto market has become a bit stagnant now, making huge profits is impossible, but you can scramble to cope up with the market with the help of this bot to make small profits.
You also need to consider the pricing of these bots. As the market is slow nowadays, you may be giving away more money to the bot service monthly subscription than you are making from the profits. Also, if you are an experienced trader, then making strategies and deploying them would be easy for you, and you even have a better chance of making a profit. But for beginners, before making any substantial profits, you have to invest more in the learning curve.
With Cryptohopper, you get a free seven days trial, and after successful completion of the trial period, you can continue the service by paying a monthly fee of $19, $49, or $99 depending on the package you choose. And if you go for the yearly subscription, then the price drops a little bit every month.
Now that you have the entire Cryptohopper review, you should take your time to decide whether you want to invest in this bot or not. If you are a beginner them, it will help you while you are on the learning curve, and if you are an experienced trader, then this will be an excellent tool for your trades.