Cryptohopper review 2024: 14 Reasons Why it is a Game-Changer
Key Takeaways
In this review, we will cover the features and drawbacks of Cryptohopper to help you determine if it’s the right platform for your cryptocurrency trading needs.
Cryptohopper is a user-friendly platform for automating cryptocurrency deals, offering comprehensive charting and trend analysis tools. Its smartphone app allows for easy management of deals from anywhere.
However, it only supports a limited number of coins and charges higher fees than comparable services, while the efficiency of its trading bot can affect trade performance. Let’s look deeper at the good, bad, and the ugly about this trading platform.
What is Cryptohopper in a nutshell?
Cryptohopper is an AI-powered cryptocurrency trading bot that simplifies and automates the trading process for traders and investors. With over 550,000 traders, it’s one of the major services in the industry.
As a cloud-based SaaS, Cryptohopper can trade up to 75 cryptocurrencies 24/7, and new users can try out the seven-day “Pioneer Plan” trial.
It works with Binance, Coinbase Advanced, HTX, Kucoin, and 10 more to help traders manage all their cryptocurrency wallets in one spot.
What sets Cryptohopper apart is its indication feature, which was the first of its kind in the trading platform industry and has been replicated by others.
Is CryptoHopper Platform Beginner Friendly?
Cryptohopper has features for beginners, unlike many bots. The Hopper Academy, available to all users, offers a video library that explains how Cryptohopper works.
Cryptohopper’s active community should help newcomers to cryptocurrency trading. There are active Discord and Telegram groups and a member-only forum in English, French, Spanish, Dutch, and Portuguese.
Thus, novice users can chat with and learn from experienced users worldwide 24/7. The platform requires no programming or technical expertise to utilize.
Cryptohopper also supports extensive backtesting, so newbies can quickly test their setup to see if it works. Users can tweak their bots to discover how everything works and see how much they would have earned in the past.
Biggest drawbacks of the Cryptohopper Platform
The restricted amount of tradable coins supported by Cryptohopper is one of the platform’s primary limitations. This can be a significant drawback for customers who wish to diversify their portfolios or trade various cryptocurrencies.
In addition, the performance of trades depends on the AI bots’ effectiveness, and the outcomes may not always be ideal. This could lead to users missing out on advantageous deals or suffering losses.
A potential disadvantage of using Cryptohopper is the platform’s fees and monthly subscriptions, which can be greater than those of comparable platforms. Notably, the Cryptohopper marketplace is not regulated, which may be a problem for specific users regarding the security and safety of their assets.
What Makes Cryptohopper a Good Choice?
Cryptohopper is a web-based service that facilitates automated cryptocurrency trading via trading robots. The software is straightforward, so traders can confidently capitalize on market shifts.
Despite its complexity, the advantages of employing Cryptohopper are addressed in greater depth below.
Automated Trading
One of the most appealing features of Cryptohopper is the integration of trading bots, which allows for fully automated trading. The trading bots are programmed to execute orders based on user-defined algorithms and rules. Users can trade whenever they like, without being tied to their desks, giving them more freedom to pursue other interests. Trading robots can respond to market changes and possibilities more quickly than humans.
Customizable Strategies
Cryptohopper customers can access various settings to fine-tune their automatic trading platform and methods to meet their unique requirements. As well as a library of pre-defined trading methods, the platform will enable users to establish their algorithms and rules to which the bots should adhere. Users can maximize their investments by taking advantage of relevant market trends and opportunities.
Powerful Technical Analysis Tools
Cryptohopper gives its users access to various technical analysis tools, which can be used to make more educated trades. Thanks to these tools, users can gain valuable insights into market patterns, price changes, and other crucial data that can guide their transactions. The result may be improved decision-making and higher trading profits for the users.
User-friendly Interface
Cryptohopper is a user-friendly platform because it caters to users of varying skill levels. Users can get up and running quickly and easily with the platform’s straightforward UI. To help customers get up to speed and use the platform to its full potential, it provides various instructional tools and support, such as video lessons and frequently asked questions.
Trusted Partners
5
Fees
0.1 – 0.5%
Tradable Coins
600+
Payment Options
+ 3
4.7
Fees
0.01 – 0.10 %
Tradable Coins
100+
Payment Options
4.3
Fees
0.04% – 0.10%
Tradable Coins
145 +
Payment Options
Cryptohopper Automated Trading Bot Features
Compared to its rivals, the Cryptohopper bot stands out thanks to its extensive features. New traders can use these advanced features to get a leg up on the competition, just like more experienced traders.
The following are some of the highlights of the Cryptohopper crypto trading bot:
1. Robotic Trading
These bots let people trade without having to do it themselves. Users may adjust the bot mirror trading its parameters, and it will trade on their behalf. Since clients aren’t compelled to trade at specified times, bots may utilize technical indications independently competing trading bots.
2. Sales Force Automated Bot
Among bot features, market makers are among the most specialized. Individuals can use this function to command bots to buy or sell assets within a specified range (say, 0.3% of the provided value). Market makers in cryptocurrency could benefit from a buy-and-sell activity within this area.
3. DCA (Dollar Cost Averaging)
As the name suggests, it is used for trading cryptocurrency more securely on the Cryptohopper platform. The goal of the DCA function is to progressively invest a small portion in preventing substantial losses or making up for previous failures. Usually, the cost of investment is more than anticipated due to the consistent investment over time.
4. Speculative Paper Trading
Users can test their trading strategies with no real money on the line by engaging in “paper trading,” also known as “simulated trading.” Paper trading accounts simulate actual cryptocurrency exchange transactions but do not involve funds transfers; they only display the resulting profit or loss. New users who are unsure whether or not to execute trades they are considering can benefit significantly from having access to paper trading.
5. Automated Trading Systems
Using its AI-powered platform, Cryptohopper’s semi-automated bot may pick up on the user’s preferred trading strategy and implement it automatically. In light of the user’s historical trading activity, the bot can provide financial advice as recommendations for future transactions or, if allowed, execute trades on your behalf automatically. The system’s AI observes user actions, learns from them, analyses them technically, and then recommends alternatives that might be more effective.
6. Online Markets and the Rise of Social Trading
Numerous top crypto trading bots, like Cryptohopper’s market, now offer social trading, a popular new feature. By observing other users’ trades and using their automated strategies and trading tactics, users can increase their trading earnings through social trading. Always putting your faith in your neighborhood might not be the best idea.
7. The Best Technology
In keeping with its moniker, the collection of pro tools consists of a few fundamentals of cutting-edge trading instruments (such as API keys) designed mainly for developers and pros. You can get a birds-eye perspective of the market from the convenience of the terminal by entering the API key.
These features allow users to alter the default behavior of the Cryptohopper bot and write their codes to deploy a unique program version during market upswings and downturns.
8. Automated Trailing Orders
To automatically execute a deal depending on fluctuations in the price of a stock or asset on the cryptocurrency market, a trailing order can be set up in the bot. If stock prices fall, the robots sell the shares and automatically place trading profits into a buy order.
The automatic trading technique tracks the stock’s price history and executes trades in response to changes in these technical indicators. When selling a stock, the trailing stop loss is a valuable tool for limiting losses.
9. Exchanges
Cryptohopper’s trading tools support some of the world’s best and most prominent cryptocurrency exchanges. The platform’s selection of top exchanges is excellent because it provides users with options and enables them to trade profitably, employ sophisticated trading tools, and take advantage of real-time market price differences.
10. Patterns Depicted by Candlesticks
Even though the median value isn’t too far from the upper or lower bounds of the price range, equities that experience frequent price fluctuations sometimes exhibit candlestick patterns.
These candlestick patterns indicate a likely shift in the market and may also be identified and used by trading robots. Visitors to the Cryptohopper website can read the online documentation to learn about the various data patterns supported by the robots and how to use them.
11. Backtesting
Backtesting is analogous to receiving impartial financial or investment advice on past trades and a comparison to other trades in the market. The backtesting tool analyses past transactions and decisions to generate a report on a trader’s success or failure in the Bitcoin market.
12. Planner of Trading Strategies
The automated strategy and creator enhance the platform’s AI trading technology. Users can pick their money and indications and tailor an algorithm to their needs. After deciding which indications are most important to them, customers can have a specialized program generate and recommend a better layout for the bot trade without requiring them to touch the underlying code.
13. The Centralized Market for Financial Transactions
The trading terminal is a hub for traders to manage their whole portfolio and take immediate action. The trading terminal is designed with a user-friendly interface that allows instant access to all aspects of a trader’s portfolio.
14. Mobile App
Traders, investors, and cryptocurrency enthusiasts no longer rely solely on desktop or laptop computers to gain access to the Cryptohopper app, execute trades, monitor holdings, and program trading bots. Even though mobile apps are becoming increasingly widespread, Cryptohopper has managed to include all of the functionalities of its platform in its app.
How to Open a Cryptohopper Account
Step 1: Visit the Cryptohopper website
Visit the official Cryptohopper website. Signing up for the platform is easy.
Select the [Start your free trial] button on the home page or the [Sign up] button on the top right.
Step 2: Sign up for a profile
Sign up for a Cryptohopper account by visiting their website and providing your name, e-mail address, username, and password. You can also log in with a Google, Apple, or Facebook account.
Once added and clicked off the Terms box, click [Create an account].
To enter the control panel, verify your e-mail address by clicking the activation link sent to your inbox.
2) Create a Cryptohopper Account
Add your full name and country of residence. Once done, click [Continue].
Select the exchange of your choice. If you don’t have an exchange account, we recommend Binance, which has the market’s highest trading pair and lowest fees.
To create an account, click the [Get started] button.
More details
Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
3) Connect to exchange and bot selection
Once logged in, the platform features a helpful setup wizard that will walk you through configuring your account and completing tasks for your own bot, like integrating API keys. Copy and paste your API keys and click [Continue].
The next step is to select the bot and bot setting.
Once you’ve done that, you may start using the bot. It’s as easy as that!
4) How to join Cryptohopper Signals Signallers
Users of Cryptohopper can subscribe to a service given by seasoned traders who monitor the crypto market often for bullish indicators using all the tools integrated with professional external signals provided by Cryptohopper. Signallers can be subscribed to for either free or a fee.
Intriguingly, Cryptohopper has a feature called “signals” and “signalers,” reminiscent of the social trading featured in other platforms like eToro and Genesis Vision.
Each of Cryptohopper’s roster of 20+ signalers has a public record of their signal performance. This allows the crypto bot user to evaluate the signaler’s track record and decide whether or not to follow the signaler’s calls in the future.
If a user subscribes to a signaler and the signaler sends out a trade signal, the user’s crypto bot will immediately and automatically respond by carrying out the trade. Multiple signalers can be followed simultaneously.
Although many signalers are provided at no cost, others do it in exchange for a fee or other payment. At present, only Cryptohopper’s auto-trading platform integrates signalers.
Users are given much leeway in devising their actual trading bot strategies. He can leave the hopper (bot default)’s settings alone and let chance determine his trading success or failure.
Users can delve even further by signing up for automated signals with one of the platform’s third-party signalers or learning to use Cryptohopper tools to examine different technical indicators and indications.
You can make multiple plans, one for each currency you trade or for each market scenario (bear, sideways, or bull). You can disable any trading automated bot features at will. There’muchot more to discuss concerning the automated bot features; we’ll get into the specifics of the documentation for Cryptohopper shortly.
Cryptohopper Pricing
The Cryptohopper service is subscription-based, with three tiers and respective price points:
Plan Pioneer: 7-Day No-Risk Trial
- 20 open positions/exchange
- Portfolio Management
- Free manual trading on all exchanges
First-time access to the Trading Bot Simulator ($19/Month)
- 80 open positions/exchange
- 10 min strategy interval checks
- Scan markets with the power of 15 bots
- Two event-based triggers
- Backtesting
- Strategy Designer
- Paper (simulated) trading
- Trading signals (Signalers)
Trader Plus ($49/mo): A Simulated Trading Bot Adventure
- 200 open positions/exchange account
- You can only pick up to fifty coins, with only five action buttons.
- Technical analysis with a 5-minute interval
- 1 Simulated Trading Bot
- Exchange arbitrage
Hero: Pro Trader Package ($99 Per Month)
- 500 positions
- Max 75 selected coins
- Max 10 triggers
- TA with 2 min interval
- All coins for signals
- Market Arbitrage
- Market-Making
- 1 Simulated Trading Bot
The service can be purchased monthly or annually, with the latter option offering a discount. Users should take advantage of the free trial period before subscribing, as refunds are not provided. To select a plan, a credit card number is not required.
Account features such as lower bids, cooldown, trailing stop, settings like stop loss, TSL, auto close, and DCA, personal and global trading cryptocurrency statistics, 120+ indicators & candle patterns, syncing/tracking/selling manual buys, strategy backtesting with historical data, active community, and staff support, and a reserve section to manage savings are standard.
The Explorer Hopper is available for a free 7-day trial on the Cryptohopper website.
You can try the software risk-free for 30 days by signing up through a referral program or signing up on your own and paying nothing until you wish to upgrade to one of the paid plans.
For more serious businesses, Cryptohopper provides enterprise-grade custom-tailored products. One can prepay for a year’s worth of service or pay monthly.
Advertising claims that even if you know nothing about trading cryptocurrencies, the bot may make you money.
The assertion raises more questions than it answers, given that most get-rich-quick programs that guarantee “easy” or “simple” returns on automatic trading are little more than hoaxes. Cryptohopper’s claims and marketing aren’t too far-fetched and consistent with standard techniques in contemporary Western advertising.
The Cryptohopper Cryptocurrency Payment System
You can pay for your monthly subscription with PayPal or cryptocurrencies. You can use any of these coins on the platform if you go that route.
- Bitcoin (BTC) (BTC)
- Cash Bitcoin (BCH)
- Ripple (XRP) (XRP)
- Zcash (ZEC) (ZEC)
- Monero (XMR) (XMR)
- Dash in Litecoin (LTC) (DASH)
Disadvantages of Using the Cryptohopper Platform
Despite its popularity, the platform has certain drawbacks that may make it unsuitable for some users.
We’ll review some of Cryptohopper’s major disadvantages in more detail below.
Limited Number of Tradeable Coins
One of Cryptohopper’s main drawbacks is the platform’s support for only a few tradeable coins. Users who want to trade various coins or diversify their portfolios may find this a significant drawback. Users may be unable to take advantage of potentially lucrative deals in the cryptocurrency market due to Cryptohopper’s finite supply of coins.
High Fees
Compared to other platforms of a similar kind, Cryptohopper’s fees may be higher, affecting the profitability of users’ trades. For a variety of services, including trading, technical analysis tools, and education, the platform charges a fee. Over time, these costs may accumulate and lower user investment returns.
Lack of Regulation
Cryptohopper is not regulated, which may raise security and money protection concerns for some consumers. Users protect their accounts, and the platform doesn’t offer any warranties or safeguards for the money they deposit.
Trading Bot Performance
The effectiveness of the trading bots, which may not continuously operate at their best, determines how well trades perform on Cryptohopper. The bots may not always make the best trades because they are programmed to do so based on specific algorithms and rules. Users must also be knowledgeable about market trends and technical analysis to modify their bots and guarantee optimal performance efficiently.
Limited Customizability Options
Cryptohopper gives customers various customizability options, although some users might find these few. Users might not have complete control over the algorithms and rules used by their bots to execute trades because the platform offers several pre-defined trading methods. This may make it more difficult for users to employ unique techniques and maximize their trades.
Dependence on Other Parties
Cryptohopper depends on third parties to carry out trades on your behalf, which may cause delays or errors that affect how well users’ trades perform. It can be a barrier for some customers that the platform also requires them to have an account with one of the supported exchanges.
Cryptohopper Review: Final Thoughts
More details
Cryptohopper is a great trading bots for their market trades. Due to cryptocurrency trading bots' sophisticated trading functionality and user-friendliness, Cryptohopper is the ultimate bot for new and advanced users. These competing trading bots can be outfitted with data-driven insights and individualized trading techniques to improve their performance.
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Allows individuals to automate their transactions.
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Create customized trading strategies.
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Supports integration with multiple exchanges.
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Advanced charting and technical analysis tools.
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All functions acessable via mobile apps.
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The platform can be difficult for beginners to navigate.
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Monthly subscription for advanced features.
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Challenging for non-technical users.
As you can observe from our analysis, Cryptohopper has potential as an automated trading tool, provided that it is utilized responsibly and with due regard for the market. This is true for traders of any experience level.
While people with more experience in the market will be better equipped to take advantage of more complex techniques, newcomers won’t have too much trouble learning the bear market ropes.
We found the Designer’s drag-and-drop interface to be quite helpful. It’s fantastic because you can make your Cryptohopper bots without knowing how to code. It simplifies developing a trading strategy so that even a novice can accomplish it.
In addition, a no-risk trial period of 7 days is provided. Once you’ve seen how easy it is to make your automated crypto bot with Cryptohopper, you can upgrade to one of the paid plans, which are so cheap that a single profitable trade will cover the cost of your monthly (or even annual!) membership.
Note of Caution: Using a Trading Bot WILL NOT ensure a profit. Always take precautions and control risks
When it comes to crypto-bot trading automation, both Cryptohopper and 3Commas are excellent options. Each service can be used to automate crypto trading techniques.
Cryptohopper was the simpler platform for me to use when programming bots, but 3Commas is the better choice for those who like to mix automated and manual trading, as it has a "smart trading" interface that gives manual traders access to sophisticated trading tools, order types, and risk management strategies.
Review our 3Commas Guide to find out more.
To profit from price discrepancies in the cryptocurrency market, traders may engage in a practice known as "crypto arbitrage," in which they buy and sell the same commodity on different exchanges. Arbitrage trading is commonly executed with the help of bots like the ones found on Cryptohopper.
Any bot trading platform's bots are only as effective as their user-created designs. The bots are the most successful cryptocurrency investors, but only in the hands of experienced traders who know the ropes and can decipher the market patterns to put them to work.
Hundreds of thousands of traders worldwide trust and use Cryptohopper since it is one of the longest-running and most successful trading bot platforms.
In addition to their original offering of a crypto trading bot, Cryptohopper now provides a social trading platform, among many other services. If you're interested in social trading, you should check out Cryptohopper's social trading platform, as it's highly regarded and frequented.
