Cryptohopper Review: Is this Crypto Trading Bot a Scam?
As someone who has been in the game for a while, I know how challenging it can be to detect lucrative trading prospects. Let’s face it, it can be tough to catch those profitable trading opportunities when they happen so quickly. That’s where trading bots come in – they use high-frequency trading strategies that are based on complex algorithms and artificial intelligence. These bots can be incredibly effective in helping you make the most of those fleeting opportunities.
If you’ve ever dabbled in cryptocurrency trading, you know that the market can be incredibly volatile. This presents a unique opportunity for higher profits, but it also comes with its fair share of risks, One of the biggest ones being the associated slippage. As an answer for most of these challenges, we have Cryptphopper- a multifunctional crypto trading bot. This bot was designed to quickly and effectively navigate the market, making split-second decisions that can mean the difference between success and failure. In this review, I’ll be sharing my thoughts on how this tool works, its benefits, and whether it can help you achieve success in the world of cryptocurrency trading.
Also Read: 7 BEST Crypto Arbitrage Bots for Trading Bitcoin; Crypto (2023)
Brief Overview of Cryptohopper Experience
I recently had the opportunity to try out CryptoHopper, an all-in-one trading platform that promised to simplify my cryptocurrency investing venture. I have to say, I was really impressed with what it had to offer. With a CryptoHopper bot at my disposal, I was able to trade the markets around the clock, 24/7, never missing out on a potentially profitable trade setup.
My experience with CryptoHopper’s bot has been nothing short of amazing. In addition to their real-time price tracking, CryptoHopper also offers robust security protocols to protect sensitive data and ensure privacy. As someone who takes security seriously, I appreciate the extra layer of protection that CryptoHopper provides. I feel confident knowing that my crypto trading account is safe from hackers and other online threats. What’s even more impressive is that CryptoHopper has been around since 2017 and has amassed a community of over 700,000 cryptocurrency traders.
It’s clear to me why the platform has gained such popularity – it’s intuitive, the bot is trustworthy, and the features are truly outstanding. While it’s true that advanced features on CryptoHopper require a fee, I like that the site doesn’t take a charge per trade. Instead, they employ a subscription model, where the monthly fee is based on the variety of tools you want to access. Currently, the platform works with 17 of the world’s top cryptocurrency exchanges, which I find reassuring because it means that my bot has access to a ton of liquidity, regardless of the time of day. Whether you’re an asset manager, miner, mining pool, service provider, individual, or experienced trader, i am sure this platform will have something for everyone.
Cryptohopper has 4 subscription plans that can be billed other monthly or annually.
- The Pioneer plan costs absolutely nothing but offers only limited functions.
- The Explorer plan offers all the advantages of the pioneer plan along with some added perks. It is priced at 19 dollars a month for a monthly subscription and 16.58 dollars a month for a yearly plan
- The Adventurer pack entails even more features on top of the Explorer plan. On an annual purchase, it will cost 41.58 dollars per month but on a monthly buy, it will be worth 49.00 dollars every month.
- Finally, the last and most advanced plan is the Hero one. It had the most features and is available at 99 dollars per month on monthly billing and 83.25 dollars each month on a year-wise purchase.
Popular offerings by Cryptohopper
Now that I have given you a brief idea of how my initial experience was with Cryptohopper, I think we can delve more into the specific offering of the platform I enjoyed the most.
After using Cryptohopper for some time, I found that one of the offerings that stood out to me was the semi-automatic trading option. This feature allowed me to be in control of opening trades while still being able to utilize the bot to automatically sell them. As someone who enjoys doing their own price examination, this was the perfect balance between hands-on and automated trading.
With this feature, I was impressed with how easy it was to keep track of my entire portfolio from one centralized location. By linking all of my exchanges to my Cryptohopper account, I had access to a complete outline of my investments. The platform offers two ways of handling your account: the simple and advanced view.
One of the most intriguing features of Cryptohopper is the ability to copy the trades of expert traders on the platform. This copy trading feature allows you to follow in the footsteps of successful traders, potentially boosting your profits. Cryptohopper offers a variety of options for copying trades, including the copy bot, signalers, templates, and strategies.
Cryptohopper’s Trailing feature was one that I found very convenient to use. With this, your Hopper, on its own, tracks the investment value and waits for the perfect opportunity to take a step. For instance, it could modify your take returns when the price declines, make a buy order when the value rises up, or buy your position back in the case that it was in a short.
Practising trading before putting your hard-earned money on the line is always a smart move. That’s where Paper trading comes in – it’s the perfect way to test your trading strategies without risking real funds. The feature is available with every paid subscription. Once you find a winning strategy, you can then confidently apply it to your live trading bot, knowing that it has been thoroughly tested and optimized for success.
What’s interesting is that Cryptohopper offers a unique approach to shorting that sets it apart from traditional shorting methods. Instead of simply betting against an asset, Cryptohopper’s shorting mechanism involves a buyback mechanism. This means that when you anticipate a potential loss on a position, you can start a short, and the bot will then trade the position and keep the funds secured. Once you feel that the price has bottomed out, you can close your short and buy back the position.
I believe that one of the most important aspects of making profitable trades is developing a solid strategy. And that’s where backtesting comes in handy. With this feature, you can test your plan and design by analyzing past trades and see how they perform with your existing settings. This tool is invaluable for traders looking to perfect their strategies without risking any real funds.
Cryptohopper’s Strategy Builder is particularly helpful for me as an algorithmic trader, as it enables me to examine markets utilizing indicators that follow trends, volume, momentum, and volatility. This is an excellent tool for those who want to make informed trading decisions based on data-driven insights.
I found that Cryptohopper’s Arbitrage bot is a valuable tool for traders looking to capitalize on market disparities. With the ability to perform both market arbitrage on a single exchange and exchange arbitrage across numerous exchanges, this bot offers a flexible and effective way to maximize profits. By taking advantage of price differences between exchanges or within the same exchange, the Arbitrage bot can help traders generate significant returns with minimal risk.
As a crypto enthusiast, I was looking for a way to increase my profits and expand my trading experience. That’s when I came across Cryptohopper’s Market Maker bot. This amazing feature provides a liquidity boost to my chosen market or offers a way to gain profit from a significant spread. I was impressed by how user-friendly and efficient the bot was, allowing me to easily navigate and set my preferred parameters.
The Advantages and Disadvantages of Cryptohopper
- Having discussed the nitty gritty of the platform, let me give you a summarised view of the advantages and aspects that stood out the most for me
- After using CryptoHopper for a while now, I have realised that while the platform offers advanced charting tools and trading options, it still remains user-friendly and easy to navigate despite its high-level features, CryptoHopper.
- What’s unique about CryptoHopper is that it never performs like a broker and doesn’t levy a commission on trades.
- Also, contrary to how most open-source systems usually work, it allows users to customize their investing experience without needing to know how to code.
- One of the products by CryptoHopper that I absolutely is its mobile app. It’s available on both Apple and Android platforms, and it’s incredibly easy to set up. With the app, I can access all the features of the platform on the go, which is fantastic. Some of the features of the app include “high-level security, optional push alerts, and one-click trading.”
- Another impressive element of CryptoHopper is that it provides a wide range of resources for new investors to learn more about the crypto space and investing. It’s an excellent platform for beginners who are just starting out in the industry.
- Finally, CryptoHopper doesn’t demand a minimum deposit to start using it. However, the platform does suggest putting in a minimum of €300 to the exchange of your choice in order to disperse risk, which I think is reasonable.
- No platform is without its cons. While CryptoHopper is an excellent platform with plenty of features, it’s important to note that there are a few drawbacks as well.
- Firstly, there’s no phone customer service option available. Although the platform offers email support, some users might prefer the convenience of being able to speak to someone over the phone.
- As stated earlier, to enjoy the most worthwhile features, traders need to subscribe to a monthly subscription. While this might be worth it for some users, others might prefer a more cost-effective option.
- Lastly, the customer support team is still evolving, which means that it might not be of the finest quality yet. If you have any queries or issues, you might have to depend on other resources available to reach a resolution.
Is Crypthopper safe to use?
As a user who values security and peace of mind when it comes to investing in cryptocurrency, I can confidently say that CryptoHopper is extremely secure. While there is always a level of risk when trading in volatile markets, whether you’re using a human or a machine to execute trades, I’ve found that using bots on CryptoHopper can significantly reduce those risks. Despite the emergence of several other automated trading solutions, I’ve found Cryptohopper to be one of the most reliable and trusted options available. The platform has been around for a while now and has established a reputation for being a dependable and user-friendly way to invest in cryptocurrency. Plus, the fact that the platform continues to add new features and integrations demonstrates a commitment to innovation and staying ahead of the curve. Using the platform was a seamless experience, and the various tools available made it even easier to maximize my profits. All in all, I think CryptoHopper is an excellent choice for anyone looking to streamline their cryptocurrency investing and take advantage of market opportunities without having to constantly monitor the markets.