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Complete Cryptohopper_main

Complete Cryptohopper Review for Traders and Newbies

The cryptocurrency market is home to thousands of digital assets that one can trade around the clock. Also, volatility and cryptocurrencies frequently go hand in hand. The combination of these factors can greatly challenge or limit the ability of an individual to be efficient and profitable when trading crypto. Thankfully there are great tools, like the Cryptohopper and Good Crypto trading app out there to help one conveniently monitor the market and portfolio, easily setup complex positions, as well as automate and optimize trading, to achieve optimal trading results. And today we will examine one of these tools in depth revealing its pros and cons to simplify your selection and onboarding process. Prepare yourself for a Cryptohopper review, a leading trading bot platform designed to simplify your crypto trading process. Considered by many to be the best cryptocurrency trading bot platforms out there.

Let’s get down to business!

Cryptohopper Trading Bot Overview

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The Cryptohopper cryptocurrency trading bot, incorporated in the Netherlands, and created in 2017 by two Dutch Brothers Ruud and Pim Feltkamp as an easy way to trade Crypto 24/7 for both novice and experienced traders. It’s built to help simplify their crypto trading experience while maximizing profitable opportunities at minimal risks. It’s a kind of Unique Value Proposition (UVP) of the platform.

Despite there being many cryptocurrency apps to choose from, like Cryptowatch and Tabtrader which we reviewed previously. Many traders consider Cryptohopper to be the best crypto bot due to its full suite of services that allow traders to automate their trading process and minimize risks associated with a human factor.

Cryptohopper Key Features

Complete Cryptohopper_2The Cryptohopper trading bot is packed with automatic trading features that empower traders. The application even has a marketplace where users can buy different types of automated strategies and signals from different users. But more on that later. First, let’s cover the very first “Hopper”, or trading bot released by the Cryptohopper, and then we’ll dive into other features.

What is Cryptohopper Bot, and How Does it Work?

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The Cryptohopper trading bot is an automatic trading bot that makes use of various trading algorithms to executes trades on your behalf. So you can enjoy profits with no sweat. Cryptohopper bot settings can be set up through the main dashboard where you can adjust cryptohopper bot settings and connect it to any of the supported exchanges and it will run selected trading strategies. The cryptohopper trading bot can be customized to suit a variety of needs and purposes, including arbitrage, auto trading, and even market making.

Cryptohopper Market-Making Bot

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The Cryptohopper market-making bot, available to Hero tier subscribers, is useful to primarily three groups of people. Traders who want to profit from high spread, a listed cryptocurrency that doesn’t have enough liquidity or has high spread, which results in huge price swings. Lastly, startout crypto exchanges that need more liquidity.

One can create a market making bot when making a new hopper via the Cryphotopper dashboard. Essentially, it lets one maintain automated and “layered” sell and buy orders in the orderbook of a given crypto. Thus, reducing spread and directly providing liquidity. How those orders execute depends on your configured market making strategy.

Cryptocurrency Trading Bot by Cryptohopper

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Despite the Cryptohopper bot being the first-ever “hopper” released, it is still one of the most popularly used сryptohopper trading bots today. With it, traders can trade both manually, semi-automatically (for those who don’t feel comfortable trusting robots), or deploy fully automated trading strategies. Cryptohopper “hoppers” can be deployed on all supported exchanges and in all kinds of markets: bull, bear, and grab. In a bull market one can use the hopper to set up a trailing stop loss and get technical analysis feedback in near real time. Besides, the bot analyzes the market for early reversal signs, and lets you automatically short sell coins in price decline mide to then also scoop them once a bottom is in.

Crypto arbitrage in the Cryptohopper app

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Cryptohopper allows users to benefit from crypto arbitrage trading. It is a tactic that lets traders benefit from cryptocurrency price discrepancies between different trading pairs or exchanges. Without cryptohopper arbitrage, traders would need to withdraw their funds from one cryptocurrency exchange and quickly deposit them in another one. This lengthy process greatly reduces profit potential. But, since the exchange arbitrage feature in Cryptohopper connects multiple exchanges, the arbitrage process is much smoother.

Free Mirror Trading Tool

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The mirror trading systems in Cryptohopper are truly a cool feature, letting one purchase and utilize various automated trading strategies, signals, or popular templates created by expert traders and technical analysts. If you’re wondering what is mirror trading in action, here is the flow:

  • a user should just select a trading strategy or a template he/she understands and likes the most,
  • launch a mirror trading function that will automatically follow the actions designed by an expert trader.

Of course, all the mirror trading strategies are aimed at making a profit, but with less effort. These mirror trading systems can be purchased using the Cryptohopper marketplace, which will be covered in detail below.

Cryptohopper Trailing Stop Loss Feature

Of course, a trading tool like Cryptohopper wouldn’t be complete without sophisticated trailing stop-and-buy features. The cryptohopper trailing stop loss is intuitive and easy to set up. For instance, the trailing stop loss cryptohopper feature can be used to set up a stop-loss after you’re in a certain amount of profit. While the generic trailing stop loss lets you exit a position after it has dropped by a certain percentage amount, traders can get even fancier, by using the trailing stop buy and short algo. It’s similar to the Infinity “Trailing Algo” in Good Crypto. These are features that actively track market reversals for automated entries. Essentially allowing a Cryptohopper user to make money on trend changes automatically.

Paper Trading In Cryptohopper

Practice makes perfect, doesn’t it? Cryptohopper lets you test out nearly all of the functionality it has to offer like market making, automated trading, dca’ing (dollar-cost-averaging) and more via Cryptohopper paper trading. This is an ideal tool for those who are really serious about becoming pro traders but would like to minimize risks. The reason is that it lets you trade with real-time cryptocurrency market price data, but not real money. Paper trading is frequently used to trial run strategy tests before deploying them using real money on Cryptohopper paper trading app.

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When it comes to how to set up paper trading in cryptohopper, you should simply

  • log in to your cryptohopper account and go to the Dashboard section.
  • In the top left corner, you will see “Your hoppers”, click on that to be taken to a section where you can view your hoppers and create a simulation hopper (paper trading).
  • Once you click on the blueish “+”, you’ll be taken to a section where you can take your pick between a selection of various hopper paper trading templates or configure your own.

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  • Once you select a template, please be sure to tick the “Paper trading” option, therefore enabling the paper trading feature in cryptohopper.

Automated Backtesting Tool: What Is This Feature?

The crypto backtesting tool in Cryptohopper lets its users backtest all of their trading settings using past insights for future predictions. So, using cryptohopper backtesting tool, one would create a strategy, apply it to past data, which can be conveniently analyzed using historical charts, and get an indication of how strategic and clever your strategy really is. All in all, it’s a great way to fine-tune your trading.

Cryptohopper Exchanges List

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Cryptohopper supports a big list of all the most popular and secure exchanges. In total, the best crypto trading bot platform is already integrated with 18 crypto exchanges including Bittrex, ByBit, Kucoin, Poloniex, Exmo, FTX (and FTX.us), Crypto.com, Huobi, Kraken, Coinbase Pro, Bitfinex, Binance (and Binance.us), Bitpanda pro, Bitvavo, Okex, and HitBTC. And we’re sure that more exchange integrations will come.

Main Cryptohopper Settings Review

Wrapping your mind around cryptohopper configuration settings may seem like a challenge given the breadth of functionality offered by the app. However, everything is actually quite simple, you will find that getting through the settings is a user-friendly and intuitive process.

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Via the general settings, users can manage the basic settings of Cryptohopper. Such as trade notifications, buy and sell settings and strategies, exchange platform integrations, and more. There are no best cryptohopper settings, as everything really boils down to individual preference and how one likes to approach their trades.

Cryptohopper Pricing: Is It Worth It?

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Cryptohopper provides various pricing models. There is a free version of Cryptohopper that can be used, however, with it, you can only access manual trading and hold 20 positions at a time.

  • The Explorer package, for $19 a month, is more suitable for those who want to dig into what Cryptohopper has to offer. With it, users get access to a trading bot, TA enhancements, triggered orders, and quadruple the position amounts. It is also available to try for free for 7 days.
  • The Adventurer ($49/Month) and Hero ($99/Month) packages take things even further. They provide more triggers, way more positions, and open up functionality like exchange arbitrage, market making, and algorithmic intelligence. Overall these pricing tiers are rather standard and do not differentiate heavily from Cryptohopper’s competitors.

Cryptohopper Security. Is The App Safe to Use?

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Cryptohopper is extremely secure for users. First of all, it utilizes cryptohopper 2 factor authentication (2FA), which lets users strengthen their account security by requiring a randomly generated authentication code. Cryptohopper is also fully GDPR compliant and verifies the compliance of all its affiliates. Additionally, Cryptohopper never actually holds any user funds, because all of the trading action takes place using API keys. They allow the bot to execute trades on your part – crypto exchange of your choice. And of course, it can’t withdraw your money from an exchange. So no fear of your account being drained!

Cryptohopper Marketplace Elements: Social Trading Platform

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Via the Cryptohopper dashboard, users can gain access to a marketplace, for purchasing signals on cryptohopper and different tried and tested strategies from experienced traders for their bots, some are free though. While if you are an expert in creating trading strategies and bots, you could use the marketplace as an extra way to earn some money by selling them. Anyone can add a template to the marketplace. This makes it a very interesting Cryptohopper feature. It has three main categories:

  • templates
  • strategies
  • signals for cryptohopper
  • “Friendly” Apps
  • Gift Cards

Main Cryptohopper templates

Cryptohopper config templates are essentially advanced settings for Cryptohoppers automated trading bot. They can be purchased directly from the marketplace. Users can also get specific templates for crypto arbitrage and market-making. All that’s needed after getting a template is setting up your exchange connection with API keys, selecting which coins to trade, and amounts per trade.

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Users can find suitable templates by heading over to the Cryptohopper marketplace and applying filters.

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On the page of a specific template, users will find a plethora of helpful information. For starters, each template comes with an overview, explaining its intended purpose. Also, it overview outlines the following info: seller, version, ratings and further details such as the exchange it works on, and cryptocurrencies to which it applies, etc.

Cryptohopper Strategy Overview

Users of the platform can also buy a cryptohopper strategy from the marketplace. The strategies offered there are typically a mix of candle patterns and or technical indicators. So one can procure a cryptohopper automated buying and selling strategy and enjoy painless trading. If you are a profitable trader and know a thing or two about bots, you can even build your own strategy on cryptohopper and sell it.

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The marketplace also lets you filter for the best cryptohopper strategy. You can even combine multiple signals for cryptohopper. What’s more, is that you can backtest them as well.

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Cryptohopper Signals On The Marketplace

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The marketplace can also be used for purchasing signals on cryptohopper. They are sometimes referred to as copy trading, social trading, or mirror trading. Essentially a trader can use the marketplace to find the best signals for cryptohopper, which allow you to basically copy the actions of professional traders automatically.

Crypto Signals

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Crypto signals are sent by third-party technical analysts working hard to pinpoint on-the-rise coins. Once they have spotted a promising investment, they share that knowledge with anyone subscribed to them.

Cryptohopper vs Good Crypto

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While Cryptohopper is a pretty decent platform for automating one’s trading experience, it can be a bit complicated to figure out, in fact, it can be quite aggravating. Also Cryptohopper doesn’t let you conveniently adjust and monitor things on the go.

Good Crypto can be viewed as a sort of next-gen alternative to Cryptohopper that provides a rich and full crypto experience, right on the go. Good Crypto provides users with the following advantages:

  • Very intuitive UI & UX
  • Algo Trading with various modification sof Grid, DCA and Infinity Trailing bots;
  • Trading on more exchanges that Cryptohopper (35 exchanges available now);
  • Advanced order types (take profit, trailing stop, and concurrent triggered orders).
  • Conditional orders (that don’t freeze your balance).
  • Customized alerts and updates on portfolio performance, cryptocurrency price movements, trade notifications, new coin
  • listing, Uniswap gems monitor.
  • Wallet tracking;
  • Futures trading;
  • Market summaries;
  • PRO subscription cost 4 times cheaper;
  • 14-days FREE trial for the full package of the PRO features without limits.

You can find the Good Crypto app in the iOS App Store or on GooglePlay. Give it a shot, it’ll likely have everything that you need for a pristine and high-end crypto trading experience.

Conclusion

We hope that this Crypto hopper review was helpful for you to get a better understanding of how the platform works and the possibilities it provides to empower traders. The team behind the platform has put significant effort into making it highly versatile and secure for all levels of traders. They’re definitely doing a good job, because if we’re reviewing Cryptohopper, then that means it definitely stands out among its competition in a market full of portfolio and trade management solutions.

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Oh, and by the way, now’s the perfect time to check out everything our Good Crypto, app has to offer cause there’s a free 14-day Pro trial period right now! : )

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September 8, 2022

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