Cryptohopper Review 2022: A Full Guide to the Cryptocurrency Trading Bot
Ease of Use
- Supports 18 well-known crypto exchanges including Crypto.com, Binance and others
- Uses industry-leading protocols to secure its platform
- Easy-to-use interface that facilitates simple and effective crypto trading for all types of users
- Automatic trading, exchange arbitrage, social trading, trailing stops and many other features are available
- Detailed tutorials explaining every element of the platform
- A free plan is available, though it has limited features.
- The less expensive packages do not offer a selection of a wide variety of cryptocurrencies.
- Users have to pay a little extra to get access to additional positions.
Unlike normal stocks, crypto trading takes place 24/7 and that is why traders must be always aware to take advantage of any probable price changes. However, it might not be possible for a user to stay online at all times. Trading bots can offer a convenient solution to this problem by facilitating automated trades according to the instructions provided by the user.
Cryptohopper is one of the most popular crypto trading bots that allows you to connect to your crypto exchange and automate the trading process. It uses sophisticated AI-powered tools to manage your crypto portfolio and easily conduct trades.
With the help of Cryptohopper, traders can imitate the strategy of other traders and get involved in advanced tools like market-making, arbitrage and backtesting.
Cryptohopper was founded in 2017 by two Dutch brothers Ruud Feltkamp and Pim Feltkamp. They wanted to combine advanced trading strategies with technological aid so that traders could automate their trading process. The company has grown rapidly since its inception and now they have innovated a bot that hosts over nine million transactions worth around $2 billion every month.
Crypto trading is relatively new to most traders and investors and that is why bots can be quite helpful for beginners. Here are some of the key features of Cryptohopper that will help you in understanding its suitability and how it might work for you.
Based on the trader’s needs, Cryptohopper offers four kinds of subscriptions that are listed as follows:
- Pioneer: This is a free subscription that offers 20 trading positions to users and helps them with managing their portfolios. If you are simply looking to understand how automated crypto trading works, this can be a good option for you.
- Explorer: Priced at $16.58 per month, the Explorer subscription gives access to 200 trading positions and provides one simulated trading bot to the user. However, the trader gets only two triggers and can trade with a maximum of 15 selected coins. This subscription has a seven-day free trial which can be a benefit if you want to test some of these advanced features.
- Adventurer: Cryptohopper regards the Adventurer subscription as the “Trader plus package” and is priced at $41.58 per month. This is suitable for users who have some experience in crypto trading because of the availability of features like arbitrage and 200 trading positions. Traders get five triggers and can choose to trade with a maximum of 50 selected coins.
- Hero: This is the most expensive subscription offered by Cryptohopper and for good reason. Being priced at $83.25 per month, the Hero package provides the trader access to 500 positions, market arbitrage, market making and even algorithm intelligence. Traders can trade with 75 selected coins and get 10 triggers.
Cryptohopper provides numerous features on its platform that are suitable for all kinds of traders. Automatic trading is the most common and popular reason why people prefer to use a crypto trading bot like Cryptohopper.
Since crypto markets are extremely volatile and traders are often confused regarding their positions, automatic trading can help them in making systematic investments or cashing them out depending on the market movements.
If you are unsure about the specifics of automatic trading, you can also opt for semi-automatic crypto trading that is conducted on the Cryptohopper platform with the help of API-powered technology. Portfolio management is also an important feature offered by Cryptohopper. By creating “Hoppers,” you can link these to all your exchange accounts.
If you are a professional trader, Cryptohopper offers you advanced tools to conduct both fundamental and technical analyses. The more high-end packages like Adventurer or Hero provide access to multiple trading positions, mirror trading and trailing.
Mirror trading is when you customize your bots to follow the signals to mirror or copy the trading signals sent out by signalers.
Trailing features in Cryptohopper allow you to follow the prices of your desired coins and take some action at the right time. Such action can include taking out the profits when the prices are falling or placing a buy order when the prices begin rising.
Currently, Cryptohopper supports integrations with 18 crypto exchanges, which might include:
- Bitpanda Pro
- Huobi Pro
- Coinbase Pro
This is an extremely beneficial feature that can allow users to connect their accounts across all these platforms under the umbrella of Cryptohopper.
Ease of Use
Cryptohopper is extremely easy-to-use, and the interface is convenient for all types of users. Even if you have no experience in crypto trading, you will be able to navigate your way around the platform. It also has a very detailed blog where every feature is explained thoroughly along with tutorial videos. The Frequently Asked Questions section is also quite comprehensive, and it allows you to raise tickets for your specific queries.
How Cryptohopper Stands Out
Cryptohopper provides several advanced trading tools for professional crypto traders. However, it also helps out the newbies with different types of tutorials and user-friendly options. Even if you are completely new to crypto trading bots, you can easily start your journey with Cryptohopper. The support options and blogs are very well-prepared, and every element is explained in great detail. If you take some time to read all the information and watch the tutorial videos, you can easily develop your expertise in this area.
There are quite a few options when it comes to crypto trading sites. Here are a few other options that are similar to Cryptohopper:
Cryptohopper Vs. 3Commas
3Commas is a crypto trading platform that allows manual trading along with automated trading with the help of trading bots. Like Cryptohopper, it supports integrations with 18 popular crypto exchanges such as Binance, FTX, Bittrex, Bitstamp, Kraken, Coinbase and more.
3Commas has a free plan that offers a single bot for Options and GRID. If you make an annual payment, the most expensive Pro plan costs $49.50 per month and offers unlimited GRID bots, Options Bots, Scalper Terminal and even paper trading. It is much cheaper than Cryptohopper but does not offer most of the features for advanced trading.
Cryptohopper Vs. Pionex
Pionex is a crypto trading bot that allows automated trading and provides integration with platforms like Binance, Huobi global and Pionex. Unlike Cryptohopper, Pionex has a lifetime free subscription for all its members. It has a Money Services Business license issued by FinCEN which ensures safe and secured trading on its platform.
Is Cryptohopper Any Good?
Cryptohopper is a great option for beginners and professionals because of the advanced trading options and user-friendly interface. It can help you to earn passive income by conducting automated crypto trades.
How To Apply
Getting started with Cryptohopper is pretty simple. You need to provide a username, email, and password to create an account or you can also use your social media accounts like Google, Meta, or Apple to sign in. Once you have created your account, you need to set up your Hopper or bot to start trading.
To set up your bot, you will have to provide some personal details, then connect to an exchange, and set a quote currency that you will use to buy coins. Initially, you can use a mirror strategy to follow signals and then configure your bot with more advanced features as you learn the nuances of crypto technical analysis.
Who Cryptohopper Is Best For?
If you want to learn how crypto trading works with a trading bot, you can use Cryptohopper to educate yourself properly. It is also suitable for professional traders who want to get involved in advanced crypto trading strategies.
Cryptohopper is a decent platform that integrates AI-powered technology and enables crypto trading through bots. The integration with most of the popular crypto trading platforms is also an added advantage. However, the free Pioneer package has very limited features and if you want to get a true taste of how it works, you will need to spend a lot of money every month.
If you are a professional trader, then the Hero package might not seem very expensive to you, but it will certainly burn a hole in a beginner’s pocket who is just trying to learn the basics of crypto trading. Cryptohopper gives a good range of features but ultimately it is for you to decide if you want to use automated crypto buying.
Cryptohopper FAQHere are the answers to some of the most frequently asked questions about Cryptohopper.
- Can you make money with Cryptohopper?
- Cryptohopper is a safe and secure platform that allows its users to earn passive income from crypto trading. Users can also adopt strategies like arbitrage and mirror trading to make money from their trades.
- Does Cryptohopper take fees into account?
- Cryptohopper is a crypto trading platform that facilitates automated trading through bots. Since it is not a broker, there are no additional fees on transactions. The only money you pay is for the subscription package.
- Are crypto bots profitable?
- Since crypto markets are volatile, you can gain traction from the 24/7 availability of crypto bots. However, profitability is not guaranteed, and you should be careful before investing too much money in crypto trading bots.
- Which crypto trading bot is best?
- Pionex is one of the best crypto trading bots and it provides lifetime free access to all its users. Cryptohopper is also a great crypto trading bot that provides many advanced features for its traders.
- Can I use Cryptohopper for free?
- Yes, Cryptohopper has a Pioneer subscription that is free of cost and offers some basic features for traders. Apart from that, the Explorer package offers a seven-day free trial to the users.
- Which exchange is best for Cryptohopper?
- Cryptohopper is officially integrated with 18 crypto exchanges like FTX.US, FTX, Bybit, EXMO, OKX, Bitpanda Pro, Bitvavo, HitBTC, Huobi Pro, Bittrex, Binance, Coinbase Pro, Poloniex, Binance.US, Bitfinex, Kraken, KuCoin and Crypto.com. All of these exchanges can be connected to your Cryptohopper account.
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