Cryptohopper, Cryptocurrency Trading Bot Guide

Cryptohopper - Technical Review 2019 - Empirica

Cryptohopper is a cryptocurrency trading robot designed to help simplify the crypto trading process, and assist merchants of all stages to make the most of their buying and selling opportunities, maximize their income and decrease the chance of losses.

While there are a number of cryptocurrency trading bots presently available such as 3commas, Cryptohopper aims to empower merchants through providing an easy to use and thoroughly featured carrier that lets in its customers to easily change multiple cryptocurrencies whilst getting rid of human frailties from their buying and selling process.

The semi automatic bot doesn’t assure profits and absolutely permits traders to make more intelligent trades primarily based on algorithmically programmed buying and selling tactics and external signals.

Cryptohopper Overview

The Cryptohopper website states that the task was started by two brothers: Ruud Feltkamp & Pim Feltkamp one a soap opera actor now a profitable day trader, and the other, a wonderful web developer.

The two merged their ideas, skills, and experiences to create a bot that trades routinely for the user, works 24/7, and trades a variety of coins, whilst additionally being like minded with a range of cryptocurrency exchanges via an Application Programming Interface (API).

The platform is owned and operated via Cryptohopper BV which is primarily based in Amsterdam, The Netherlands, and the cryptohopper.com area was registered in July 2017.

The official site houses the semi-automated trading bot that permits merchants to do away with human dispositions and thoughts from the buying and selling procedure and as a substitute remember on technical primarily based trading algorithms and programmed trading approaches.

Users can additionally subscribe to external signals and the manipulatable buying and selling answer is aimed at cryptocurrency merchants of all experience levels and the team have introduced that they have over 75,000 users.

Cryptohopper is compatible with up to 75 cryptocurrencies and nine major exchanges consisting of Binance, Bitfinex, Bittrex, Coinbase Pro, Cryptopia, Huobi, Kraken, Kucoin, and Poloniex.

Cryptohopper Features

Functionality – Cryptohopper operates as a web-based solution, and points an handy to use and intuitive user interface that consists of a extensive range of functions. Users can configure the bot to alternate routinely 24/7 and make use of both algorithmic and social trading. Trading techniques can be derived via more than a few technical indications or by following the moves of third party trading experts.

Technology – The semi-automated trading takes place via API integration with a vary of cryptocurrency exchanges and the carrier can be utilized on any device connected to the net such as a desktop, laptop, tablet, or cell phone.

Range of Tools – The platform offers a good range of trading tools and comprises features such as a bot backtesting tool, configurable and saveable templates, trailing stops, and customizable technical indicators. Users can additionally rely on indicators such as Stoch, RSI, Bollinger Bands and MACD.

Exchange Integration – Cryptohopper is presently compatible with nine exchanges inclusive of Binance, Bitfinex, Bittrex, Coinbase Pro, Cryptopia, Huobi, Kraken, Kucoin, and Poloniex. Support for BitFlyer, Bitstamp, CEX.IO, Cobinhood, and HitBTC is scheduled to arrive soon.

Customer Support – The platform accommodates a support team that is accessible to deal with any issues. Users can contact the team by means of submitting a assist ticket in the Support Section, and they can additionally be contacted via their Twitter account, Telegram group, and Facebook The internet site additionally includes a number of FAQs in the Support Section, as well as a variety of Tutorials that assist customers to navigate the platform. In addition, the team have additionally produced the Cryptohopper Academy video library.

Cryptohopper Account Signup

Creating an account is a easy process, and the most important page has a inexperienced “Signup” tab at the top of the page.

1) Create an Account

Visit the Cryptohopper website and enter a name, e-mail address, username, and password in order to register.

You can then affirm your e-mail account via clicking the activation link in the e-mail sent, and obtain access to the dashboard.

2) Setup your Account

From here you can without a doubt follow the wizard as it will assist you to swiftly configure your hopper. You simply want to pick an exchange and configure the bot via your desired exchange’s API keys and additionally set up simple hopper configurations. The system is very easy and there are links to tutorials and additional beneficial data on every step.

From here you can at once begin using your hopper, and as soon as you have used the wizard and set up your account, you will be in a position to get right of entry to a host of features from the dashboard. You can subscribe to signals, configure templates, and commence backtesting your bot, as well as set up two factor authentication on your account.

3) Signup to Signallers on the Marketplace

Cryptohopper allows customers to sign up to built-in professional exterior signals, and the signaller provider is supplied via skilled merchants who appear for positive signs of an upward move. There are both free and paid subscriptions reachable and bots can be configured to comply with signallers in just a few clicks.

Signallers have effortlessly reachable overall performance reviews and their profitability can be tracked, they additionally make use of cloud computing and laptop mastering algorithms to persistently screen numerous technical warning signs throughout a vary of digital currencies.

It’s feasible to combine each purchase indicators and technical evaluation indications at the same time, in addition to putting up stop limits and trailing stops.

Cryptohopper Pricing

There are three predominant pricing plans available; however, Cryptohopper additionally approves individuals to make use of a free trial for 7 days, regarded as the “Pioneer Plan”

Users can easily sign up and start the use of the service except having to post any price details. When the trial month ends, the hopper is automatically disabled, and customers can then decide to buy a full subscription.

The plans for anyone who chooses to sign up are as follows:

Pioneer Plan: Free Trial for 7 Days

80 positions

Max 15 selected coins

Max 2 triggers

TA with 10 min interval

1 Simulated Trading Bot

Explorer: Starter package ($19 Per Month)

80 positions

Max 15 selected coins

Max 2 triggers

1 Simulated Trading Bot

Adventure: Trader Plus Package ($49 Per Month)

200 positions

Max 50 selected coins

Max 5 triggers

TA with 5 min 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 two min interval

All coins for signals

Market Arbitrage

Market-Making

1 Simulated Trading Bot

It’s feasible to pay per month or to buy the service for a complete year, it’s additionally vital to observe that Cryptohopper doesn’t grant any refunds and customers ought to make the most of the free trial before committing to a subscription.

How Beginner Friendly is Cryptohopper?

While many trading bots are best reserved for more skilled traders, Cryptohopper consists of a quantity of elements aimed at newbies. These consist of the Hopper Academy which is accessible to all participants and approves anyone to get right of entry to a video library that explains simply how Cryptohopper works and the first-rate approaches to use the service.

Cryptohopper has additionally developed an active community, and for new entrants to cryptocurrency trading this should prove to be immensely useful. There are active Discord and Telegram groups, in addition to a one of a kind forum for participants that is available in English, French, Spanish, Dutch, and Portuguese.

As a result, new customers are capable to speak with and research from more skilled customers from round the world, and proceed to analyze around the clock.

Crytpohopper Dashboard

The platform has additionally been designed to be easy to use, and doesn’t require any expert programming trip or superior technical expertise or skills.

In addition, Cryptohopper additionally permits for comprehensive backtesting, and novices can effortlessly test if their configurations are working accurately by enjoying around with and trying out their setup.

Users can see how a good deal they would have earned in the past and regulate their bots to achieve a higher grasp of just how the whole lot works whilst nevertheless studying the ropes.

Cryptohopper Marketplace

Your Cryptohopper dashboard will supply you get right of entry to to their marketplace, this is a function that a lot of trading systems are including these days. The market permits you gain trading techniques for your bots – some of these are free and others are paid. This is extremely good for novices as it actually approves you to “plug & play” your chosen method created through greater journey traders and test it out on your account.

If you an professional in creating trading bots, this could additionally be a supply of profits for you with the aid of developing and promoting your personal templates on the marketplace.

Is Cryptohopper Safe?

The venture is very active on social media and boasts a massive range of users, and new contributors can additionally browse Reddit posts in order to have interaction with previous customers and gauge the universal sentiment related to the project.

However, there is restrained records reachable about who’s in the back of the project, even though the employer has made its Dutch corporation data public and is registered as Cryptohopper BV, Johan van Hasseltweg 18A 1022 WV, Amsterdam, The Netherlands.

As with all trading bots, customers aren’t required to switch any cash to an account managed by the bot developers, as the bots generally work by an API that lets in them to execute trades on linked exchanges. It is imperative to provide your API keys which are generated on your favored exchanges, and these keys supply the bot restrained get right of entry to to your account for trading purposes.

Furthermore, the bots do not acquire withdrawal rights, and in the match of a hack or facts breach, nefarious actors would not be in a position to without delay access your funds. The team at Cryptohopper have additionally developed working relationships with some of the industry’s main exchanges and customers can additionally set up two factor authentication (2FA) in order to further secure their accounts.

Cryptohopper Summary

Cryptohopper is an computerized trading bot that trades on your behalf using buying and selling algorithms. Once you join a hopper to a cryptocurrency exchange, you can pick out a number of techniques that the bot will enforce in order to try and make a profit.

The online dashboard approves customers to easily monitor their overall performance as nicely as the reviews of signallers and to subscribe to the quality signals.

Users can additionally preserve a track of their stats and trading history, as well as the price movements of around seventy five cryptocurrencies. Although the service is easy to set up and handy to use it additionally comprises a comprehensive range of trading facets including:

Trailing stop-loss

Trailing stop-buy

Dollar Cost Averaging

Shorting

Trailing stop-short

Config pools

Triggers

Backtesting

Walletscrubber

Auto synchronize

Reserve funds

Manual buy and sell

Conclusion

Cryptohopper has been engineered to grant the regular cryptocurrency community with a practicable solution that helps merchants to generate income on a more regular basis. The mix of technical warning signs and third party trading experts or signallers gives merchants with elevated preferences as do the template and backtesting features.

While Cryptohopper is essentially an algorithmic buying and selling bot it is effortless to configure and use and suits newer merchants as well as more experienced practitioners. The team have put enormous effort into creating a platform that is beginner friendly and new customers are additionally capable to get entry to an extensive education and community led resource sections.

The inclusion of the Cryptohopper Academy video collection and multi-lingual Hopper discussion board are extraordinarily really useful to anybody nonetheless getting to grips with both buying and selling cryptocurrencies or gaining knowledge of just how to use trading bots.

With its complete listing of features, everyday user-friendliness, and help for seventy five specific cryptocurrencies and 9 main exchanges, Cryptohopper has a lot going for it and does well to stand out it a market full of competing buying and selling bots and cryptocurrency administration platforms.

To stay safe, it’s exceptional to set up 2FA on your account, and to make full use of the free trial run, as well as make a modest monetary dedication to start off. It can also additionally be a desirable concept to join the bot with a live account that carries a average quantity of money as there is less to risk if the bot underperforms or the signals do not generate the predicted results.

It’s additionally essential to know that whilst trading bots do not have withdrawal access, if they turn out to be compromised malicious actors can take benefit of a bot’s API get entry to to buy extraordinarily low cost coins that are then “pumped and dumped”. This has happened in the past, and it’s a safety situation that desires to be addressed with the aid of each buying and selling bot builders and cryptocurrency exchanges.

Furthermore, customers have stated that the free third party indicators are of a low quality, mainly in sideways or bearish markets as the notifications arrive too late, and expose the trading bot to surprising downturns. As a result, customers must dedicate some time to gaining knowledge of signallers and look into subscribing to the extra dependable paid sign services.

With that being said, with the market beginning to pick out up, more moderen merchants can also look at the Cryptohopper platform as a easy way to get acquainted with the markets and research how to change cryptocurrencies before we experience a new bull run.

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