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Cryptohopper Review 2021 – Crypto Trading Bot Features

Cryptohopper Review

Introduction

Volatility is always the first word that comes to our mind when we hear the word ‘crypto’ as prices fluctuate drastically even at a minute’s interval. With that said, investors have the opportunity to participate in crypto trading anytime and anywhere. However, the combined impact of these factors limits the effectiveness of human crypto trading in a lot of ways.

In some situations, humans are unable to react quickly to price changes to achieve optimal trades.  For sure, traders cannot dedicate 24/7 to their crypto all the time because that means round-the-clock monitoring of cryptocurrency exchanges and fundamentals news.

Thus, this is where crypto trading bots get into the picture. They are nothing but automated tools that conduct trades and execute transactions on behalf of human investors/traders. In this article, we’ll get to know more about one of the leading crypto trading bots nowadays – Cryptohopper.

Here, we will get to establish an overall review for Cryptohopper. More so, we will know its pricing as many bots have user fees, some of which can be quite steep. In order to maximize the impact of a bot, an investor must know how to best utilize the tool, and if it’s beginner-friendly.

What is a Cryptocurrency Trading Bot

For those who want to know “What is a crypto trading bot?”, these bots are automated software that helps buy and sell digital currencies at the correct time. The software’s main aim is to reduce losses and risks.

They help to manage all digital asset exchange accounts in just one place. With these programs, it allows trading for Ethereum (ETH), Litecoin (LTC), Bitcoin (BTC), and more with ease.

Normally, the bot tries to scrutinize price movements, interpret market data, and react based on supported rules. Added to this, millions of people around the world use trading bots to maintain a stable grip over their trading activities.

Now that you are familiar with what is a crypto trading bot in general, let’s see the details of what Cryptohopper has to offer.

Cryptohopper Review: In Summary

Mobile appYes. Fully operational and mirrors desktop platform.
Software TypeCloud-Based
Strategies30+ Indicators / 90+ Candle Patterns
Payment OptionsPayPal / Bank Transfer / Crypto
PriceFree Trial / $19 / $49 / $99 Per Month
IntegrationsBinance, Bitfinex, Bittrex, CEX.io, Coinbase Pro,  Cobinhood, Cryptopia, HitBTC, Huobi, Kraken,  KuCoin, Poloniex
Integrations

Automated Trading at Cryptohopper: How Does it Work?

Cryptohopper offers both fully automated and semi-automated cryptocurrency trading.

Fully automated trading refers to the robot which does all the investment analysis and automatically places trades. On the other hand, semi-automated trading entails the trading bot conducting research and providing the buyer with tradable insights.

Semi-automatic trading can be useful for those who aren’t ready to dive deep into the world of algorithmic trading, as well as those who like to keep the buying decisions to themselves.

With semi-automatic trading, you are the one who opens up trades, but you use the Hopper to sell them automatically. This way, you’ll do your own analysis on the worth, but utilize the bot’s unique features to sell automatically.

There are several tools that are useful for semi-automatic traders, which you can check here for a detailed explanation.

Is Cryptohopper Beginner-Friendly?

The platform has been designed with a user-friendly approach and doesn’t ask for any professional programming experience or advanced technical skills. While many trading bots are best reserved for experienced traders, Cryptohopper includes a variety of features aimed toward newbies. These include the Hopper Academy which is out there to all or any members and allows everyone to access a video library that explains just how Cryptohopper works and therefore the best ways to use the service.

Cryptohopper has also developed an active community, and for new entrants to cryptocurrency trading, this proves that the platform is immensely useful. There are active Discord and Telegram groups. There is also a special forum for members that is available in English, French, Spanish, Dutch, and Portuguese.

As a result, new users are ready to converse with and learn from experienced users globally and still learn round the clock.

Is Cryptohopper Safe?

Cryptohopper is GDPR compliant and thus has all safeguards needed to guard its clients. We can also verify that their affiliated brokers are well regulated and highly competent. CySEC, ASIC, and FCA govern the overwhelming majority.

As with all trading bots, users aren’t required to transfer any money to an account controlled by the bot developers, because the bots usually work via an API that permits them to execute trades on linked exchanges. It is necessary to supply your API keys which are generated on your preferred exchanges, and these keys give the bot restricted access to your account for trading purposes.

Furthermore, the bots don’t obtain withdrawal rights, and in the event of a hack or data breach, nefarious actors wouldn’t be able to directly access your funds. The team at Cryptohopper has also developed working relationships with a number of the industry’s leading exchanges and users also can found out two-factor authentication (2FA) so as to further secure their accounts.

Features of Cryptohopper

Features of Cryptohopper

Functionality

Cryptohopper operates as a web-based solution and features an easy-to-use and intuitive user interface that includes a wide range of functions. Users can custom edit the bot so it trades automatically 24/7, while making use of both algorithmic and social trading. Trading strategies are often derived via various technical indicators or by following the actions of third-party trading experts.

Technology

The semi-automated trading takes place via API integration with a variety of cryptocurrency exchanges and therefore the services are often utilized on any device connected to the web like a desktop, laptop, tablet, or mobile phone.

Range of Tools

The platform provides an honest range of trading tools and incorporates features like a bot backtesting tool, configurable and saveable templates, trailing stops, and customizable technical indicators. Users also can believe indicators like Stoch, RSI, Bollinger Bands, and MACD.

Exchange Integration

Cryptohopper is currently compatible with nine exchanges including Binance, Bitfinex, Bittrex, Coinbase Pro, Cryptopia, Huobi, Kraken, Kucoin, and Poloniex. Support for BitFlyer, Bitstamp, CEX.IO, Cobinhood, and HitBTC will arrive soon.

Customer Support

The platform incorporates a support team that’s available to affect any issues. If needed, users can get in touch with the team by submitting a support ticket in the Support Section. They also have a Twitter account, Telegram group, and Facebook. The website also contains a variety of FAQs within the Support Section, also a variety of Tutorials that help users to navigate the platform. To aid users further, the team has also created the Cryptohopper Academy video library.

Cryptohopper Pricing

Cryptohopper Pricing

Manual investors can use the Cryptohopper platform for free. Users can track their portfolio,  and execute trades in real-time using Cryptohopper’s trading terminal. They can use strategy backtesting features for free, as well. Good news for all users, there is no minimum deposit needed to begin using any Cryptohopper kit.

In detail, they have a Pioneer plan for free, and an Explorer starter package plan for $19, with 7 days free trial. The Adventurer trader plus plan for $49 monthly, and the Hero pro trade package for $99 monthly are also available.

It’s possible to pay per month or to get the service for an entire year. Still, it’s also important to notice that Cryptohopper doesn’t provide any refunds. Users should make the foremost of the free trial before committing to a subscription.

Cryptohopper Review: Final Score

Finally, the final score of the Cryptohopper! This is based on the analysis and personal view of CoinQuora. Of note, this rating does not mean to serve as financial advice. In other words, traders and investors must conduct their own research before investing their money in crypto exchanges.

  • Services offered: 4/5
  • Cryptocurrency support: 4/5
  • Fees: 4/5
  • Security: 5/5

Review Score

4.25/5

Conclusion

In this cryptohopper review, we can conclude that If you’re a frequent cryptocurrency investor or you need more advanced tools than your current broker offers, Cryptohopper can be the answer that you’re looking for. Making it simple to analyze trades, copy professional investors and connect with a wider cryptocurrency community, Cryptohopper can act as both an introduction to the crypto market as well as a powerful tool for more experienced investors. 

Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as helpful material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any crypto assets

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Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.