Cryptocurrency has boomed in the past decade. This currency has advanced across the world from billionaires to students. Earlier this decade when the trade value of these currencies (bitcoin) increased, it became a mode of higher trade exchange and found its way into wall street. It still prevails in and around the globe as a new mode of currency, but now has evolved into something of an investment jar.
To calculate and verify such investments, the tech industry came up with a platform of trade and profit. A software that helped the working class participate in this big game. These softwares were created for the purpose of making cryptocurrency trade easier and less tedious.
The Cryptohopper is a very good example of such a platform (just like the 3commas). This application is a set of algorithms that keep on trading and managing your cryptocurrency night and day. Knowing very well that the cryptocurrency market is highly volatile and never stable, this app keeps the trade going according to the market.
Let us have a deeper understanding of this online concierge of trade.
What is Cryptohopper?
Cryptohopper is a cryptocurrency trading company which was started by two brothers, a day trader and a web developer. They first came up with this idea when they got introduced to cryptocurrency and knew that this new market was going to break the glass ceiling and become bigger than ever.
As predicted correctly, Cryptocurrency took a new face in the market and their invention the Cryptohopper took off. Today, Cryptohopper is one of the largest and most reliable trading bots in the world.
Technically Cryptohopper is a trading bot (robot) made by a very intriguing algorithm designed to keep the trade going on the users’ behalf 24/7.
This software was basically designed to simplify the trading process, and to guide and assist traders with minimal trading experience to make the most of their trading opportunities. This bot helps indicate all the technicalities of a professional trader. Once subscribed, this company also provides the user with signalers based on the cryptocurrencies the user wishes to invest in.
This software has links with many exchanges like Poloniex, Binance and Bitfinex. These trades will be happening on your behalf, thus Cryptohopper ensures a highly secure method and feature.
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This bot has a very user friendly interface, you can customize your profits and currencies. The bot will buy and sell them through the API (Application Programming Interface) and with the help of its signalers as well. Taking trade to a new level, this online trading tool has never failed to amaze and help users make profits from day one.
Cryptohopper Review: Features to Lookout For
1) Functioning Algorithms
The algorithms used by Cryptohopper are the backbone of this trading bot. Their whole system works on two main and very important concepts; algorithmic trading and social trading. With the help of these algorithms, the traders can configure and customize their trades with strategies and many technical indicators provided by this bot.
Not only that, but the traders also have an option to follow predictions that are given by third party signalers (also provided by Cryptohopper on full subscription).
2) Customization of strategies
Although the trading algorithms are made to allow maximum profitability, many professional traders like to strategize their own method to gain profits. Hence, keeping this is their minds, the engineers at Cryptohopper created a customizable section where you can build and make your own plans and strategies. Equipped with many technical indicators in the software, these tools can be modified and tweaked in order for you to trade comfortably.
Backtesting is a traders method to verify the strategies made by user or algorithm, by collecting data from the past years and formulating that data to check the best possible outcome. If the strategy does not work out well, you can always take up a new method and backtest it with the required data.
This is one of the most important features of Cryptophopper, as it helps provide the best strategies to the user. The software gives out a detailed report for your strategy and also a few insights to where losses are more. Once you configure it and allow the bot to trade in accordance with your plan, your profits and trading will have a new high.
4) Automatic trading
One of the main features of Cryptohopper is that the trade is always on the run. This means that, be it day or night, the bot will always be trading for you. The Cryptohopper trading system is way better than any human trader, considering its round the clock trading and multiple tradings simultaneously. You also do not have to worry about panic sales and greedy purchases, because the bot prevents such trades, and makes sure the user is benefitting the most out of this experience.
5) Trailing stops
One of the most important aspects of trading is to keep investing. Once you gain a profit for the first time, you would not just sit and always keep it with you, you will try to make more money from the money you already have! So, your results will be based on the profits, which might take a day or even a week. Waiting and watching the screen to gain your profits won’t really help. Thus, the trailing stops feature of cryptohopper comes into play here. This tool helps you set limits to where and when to sell your coin.
Once you start trading with Cryptohopper, your second concern would be if there are legitimate exchanges provided by the bot. As a matter of fact, there are a large number of different exchanges provided by Cryptohopper to the user. Exchanges like Poloniex, Binance, Kraken, KuCoin, Bittrex, Cryptopia, Bitfinex, and CoinBase Pro are available on the platform and Huobi being a major partner of Cryptohopper provides will a great deal of discounts and extra services.
7) Other Features
There are some extra features provided by this trading bot. Features like Trailing stop-loss, Trailing stop-buy, Dollar Cost Averaging, Shorting, Trailing stop-short, Config pools, Triggers, Backtesting, WalletScrubber, Auto synchronize, Reserve funds,and Manual buy and sell are being added into the bot to make it more easier and efficient.
With the above features, crypto trading has never been easier and more profitable.
Advantages of Cryptohopper
Cryptohopper has one of the largest user bases in the market. This is because most users review this company with a very satisfactory trading experience. Not just the service, but also its trading features and insights have gained a lot of praise amongst the traders and users.
- Cloud-based platform– The whole system of Cryptohopper is cloud based, which means that this rules out any risk of physically storing the user’s data and the flaws that come with it. The user’s data can never be wiped out accidentally and the company saves a fortune on space and storage facilities.
Also, considering the fact that Cryptohopper is an online application, you can always stay connected to your trades and profits everywhere you go. All you require is a good internet connection and device.
- The learning curve – Cryptohopper being a very famous platform, gets almost new users every day. Most of these users are unaware of the market and its procedures, thus they intend to take a leap of faith in investing. But, Cryptohopper has a very elementary and helping beginners platform which helps newcomers with the trade game.
- Safety – Being a platform that is run on the internet, safety is always questionable. But Cryptohopper provides very tight security. It ensures that the software is not storing tokens within itself, and offers decent anonymity and encryption. In an unfortunate event of a hack, the hackers will not be able to access the funds. Also, as an additional security measure Cryptohopper gives an option to activate two factor authentication (2FA).
Their website is also under good protection and uses Cloudflare, and its web app firewall, as well as protection against DDOS.
- Analysis and Optimization – With a brilliant algorithm backing Cryptohopper, the most advantageous feature of this bot is its ability to analyze any market, strategy and plan. As claimed by some users, this bot takes the market data and details it down properly for the user to attest and reflect upon it.
Optimization becomes a huge aspect of Cryptohopper since it’s large number of indicators, the chances of gaining profit increases drastically too. Cryptohopper provides with signalers who help modulate your profits and predict newer strategies.
Disadvantages of Cryptohopper
- Software Glitches – Cryptohopper, in spite of having millions of users throughout the globe, happen to have reported certain software issues and glitches on different platforms (iOS, Android, etc). Nothing serious was ever reported, but certain tools on the software did not respond well to users.
- Slightly high subscription fee – Many people complained about the pricing for the service to be slightly high. This, again, is justifiable, since Cryptohopper is responsible for providing a large range of features and guaranteed profit.
- Promotional software – Users stated that Cryptohopper is focused on many promotional things, and has a lot of advertising and offers accordingly.
Can you Really Make Money out of Cryptohopper?
Since cryptocurrency is a very volatile commodity in the market, the question to invest or not often occurs in every rational user’s brain. The fear of losses haunts the common investor almost every day. But again, investment is a big gamble (a healthy one), you either take your losses or you earn your profits.
With the rapidly expanding technology and methods to earn money, every trade can be done online through many tools like Cryptohopper. But after understanding the gambit, you would ask if these algorithmic bots are to gamble with?
Ideally with all the amazing “loss defying” tools and features anyone could earn double the profit. But with the constant fluctuation of the cryptocurrency trade, there is always a risk involved, that any risk taker should be willing to take.
Imagine if all the strategies that are formed using this trading bot are subjected to a slow and low risk market, you will end up earning high profits on each trade but the cryptocurrency market is way too volatile for high returns on investments.
Extreme stock value fluctuation in the market happen twice or thrice in a year, and the rest of the times, the market is slow rising and prices have seen quite drastic drops as well.
That being said, Cryptohopper still defied most odds. Users reported to have earned between 1% to 10% profits on an average. With the intense algorithms and evolving strategies, earning a 10% profit while sitting at home (office or wherever) does not seem bad.
So yes, you can really make money with Cryptohopper. (Keeping in mind the strategies, methods and the fact that the market is highly unstable)
Cryptohopper provides four main pricing plans, with a free monthly trial to explore and test the software. Each of the price ranges offer a beginners dashboard, for the new and curious ones.
Users can easily register without giving out their details for the first month. Once the free trial is over at the end of the month, the software sends you a mail to confirm your subscription and to proceed accordingly.
The following are the main price range services that Cryptohopper provides:
Explorer Hopper Starter (free 7 days trial)
- 80 positions
- Maximum of 15 selected coins
- Max 2 triggers
- Running time every 10 minutes
- Basic Support
2) Explorer Hopper Starter ($19 per month)
- 80 positions
- Maximum of 15 selected coins
- Max 2 triggers
- Running time every 10 minutes
- Basic Support
3) Adventure Hopper Medium ($49 per month)
- 200 positions
- Maximum of 50 selected coins
- Max 5 triggers
- Running time every 5 minutes
- Extended Support
4) Hero Hopper Pro ($99 per month)
- 500 positions
- Maximum of 75 selected coins
- Max 10 triggers
- Running time every 2 minutes
- First line support
There are many options provided by Cryptohopper, where you can pay either monthly or yearly. Also, Cryptohopper does not really give refunds, so before getting the plan, always be sure to take the risk to invest and earn.
Cryptohopper was made to provide the general cryptocurrency community with a reliable option that helps traders to generate profits on frequent occasions. The inclusion of technical indicators and signallers provides traders with increased options of good investment and experience.
Considering that Cryptohopper is just an algorithmic trading bot, it is easy to use and favors newer traders as well as more advanced practitioners. The company has put together a very well versed team and helping aid for beginners that normally would not be provided by most of the trading bots today.
After a strict analysis of all the points mentioned above, it is finally up to the user to decide whether a cryptocurrency bot meets their demands or not. This software is also very useful for rookies who want to step into the trade game and the free trial gives a taste of all that is needed.
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To Sum up
In this unpredictable world of cryptocurrency, trading is very risky and confusing. Entering into this world of volatility and risk can be stressful. But, it would be less stressful if you have a brilliant algorithmic bot on your side. Thus, start investing and venturing into the deeper depths of this trade market, and emerge with the pot of gold (profits) that you have always desired, with the help of Cryptohopper.