Cryptohopper Review 2024
- Copy and social trading
- Algorithm Intelligence
- Supported on a wide range of exchanges
In the fast-paced and volatile world of crypto trading, Cryptohopper is a growing automated bot that finds and places trades for investors. Crypto has become mainstream in recent years, attracting many new investors. Due to a lack of experience, many are turning to the Cryptohopper trading bot to help them find and take trades.
With the crypto market operating on a 24/7 basis, some opportunities will inevitably be missed. In this Cryptohopper review, we will discuss the benefits of using a trading robot and how to set your parameters and integrate your strategy.
Key Takeaways on Cryptohopper
The Cryptohopper bot offers a comprehensive automated crypto trading solution catering to new traders and seasoned investors. The platform has a diverse range of features, and the bot streamlines the trading process, allowing users to execute trades efficiently at any time.
Available on OKX and Binance, Cryptohopper searches the altcoin marketplace, seeking investment opportunities that will maximize the investor’s returns. Investors can then place limit orders meaning they enter and exit the market at desired prices.
- Real-time trading 24/7
- Limit orders (stop loss, take profits)
- Copy and social trading
- Risks of high market volatility
- High fees for advanced features
What is Cryptohopper?
Cryptohopper operates as a cloud-based trading bot, leveraging algorithms and artificial intelligence to execute trades on behalf of investors. Through its intuitive platform, users can set parameters, customize trading strategies, and monitor performance in real time.
It offers solutions for individual and advanced traders, asset managers, and some of the best centralized exchanges (CEX). Founded by two Dutch brothers, Ruud and Pim Feltkamp, in 2017, Cryptohopper now facilitates millions of monthly transactions.
The platform’s centerpiece is its automated trading system which enables you to backtest and paper trade before applying it to live markets. Additionally, there is also a social trading marketplace where users can find successful investors and mirror their positions.
To further build community engagement Cryptohopper offers a leaderboard to traders as well as live tournaments where participants have the opportunity to win prizes. Unlike traditional bots that usually focus solely on technical analysis, the AI-powered platform also factors in market fundamentals before opening new orders.
Cryptohopper Features
Cryptohopper has an array of tools and functionalities designed to enhance your trading experience. From automated bot trading to advanced trailing features and social trading capabilities, Cryptohopper empowers users with the tools needed to navigate the dynamic cryptocurrency markets with confidence. Let’s look at each in more detail.
Automated Trading
The main feature of Cryptohopper is its automated trading capabilities. This bot works around the clock to find and take trading opportunities for its users. The algorithm scans the altcoin ecosystem based on previous and set strategies and uses this information to select the trades with the most upside.
One main reason investors and traders lose is due to a lack of emotional control, and the Cryptohopper bot helps remove this potential liability in the marketplace. Additionally, the Cryptohopper trading botalso factors in your risk tolerance, so it knows exactly when to stay or leave a trade.
Social & Copy Trading
Social and copy trading are some of the top features we found in our Cryptohopper review. The platform enables users to mirror the trades of more well-rounded and experienced investors. This is great for beginners who may want to replicate the successes of veteran traders who have a strong track record of profitability.
Additionally, Cryptohopper is one of the best social trading platforms due to its community engagement. Members can share thoughts on potential trades, strategies, and general market conditions.
There is also a marketplace for trading signals, templates, and strategies that users can subscribe to. The marketplace showcases a variety of different solutions offered by third parties, at different price ranges.
Strategies
Another cool feature of Cryptohopper is its strategy builder. Here, traders can build out their ideal strategies using a variety of technical indicators and candlestick patterns. These tools can be designed proprietary to open and close trades based on your individual preferences.
There are over 130 indicators that you can choose from like moving averages, support and resistance channels, or Fibonacci patterns. Once you’ve built a strategy, you can backtest it on a paper trading account before applying it to the real markets.
Limit orders
The Cryptohopper bot also allows you to set limit orders before putting it to work. Firstly, the stop loss limit allows you to predetermine the amount you are willing to lose on any given position. The same can be said for securing gains, and you can also set these limits using a “Take Profit” order.
Other limit orders include trailing orders and the auto-close feature. With a trailing stop, the bot tracks the market momentum and will either buy or sell once certain thresholds have been hit. The auto-close option enables you to set an expiry on your position. So once this time duration has passed, your order will be closed.
Algorithm Intelligence
Although using a configured and predetermined strategy can be profitable, sometimes events occur that you haven’t factored in. This is where their or “Algorithm Intelligence” feature comes into play. The algorithm can automatically adjust itself based on live market conditions and can also be trained to identify the most profitable strategies you have used.
This feature is great for fine-tuning and iterating strategies to maximize profits. To do this, you can integrate third-party data sets into your algorithm, such as Tradingview or other signals that you might have bought elsewhere.
Trading terminal
Cryptohopper has a proprietary trading terminal where you can manage your altcoin portfolio in one place. The aim of this is to limit users from having to monitor positions on different platforms by centralizing the process.
This is done by connecting all accounts you may have with other exchanges onto the Cryptohopper solution. Beyond just overseeing all positions, you can then add trailing orders directly to your trades.
Pro tools
One of the last major features is the “Pro Tools” typically only reserved for high net-worth and professional investors. These include market making, arbitrage, and dollar cost averaging (DCA).
This strategy allows you to periodically invest in a position over time to limit risks. Essentially, you are increasing your stake but doing this at varying price points. So if the market falls, and you buy low, then there is an uptrend your profitability will be higher.
The Cryptohopper bot also utilizes market arbitrage, which is where you capitalize on price differences between pairs on your exchange. Typically, this is done using multiple platforms; however, this can all be done on the Cryptohopper trading terminal.
Is Cryptohopper profitable?
While Cryptohopper provides you with the tools for opening and closing positions, profitability will depend on various factors such as market conditions, trading strategies, and risk management. Users who implement effective strategies stand a greater chance of realizing profits with Cryptohopper.
The general emotional conditioning usually needed to be profitable will not be a key factor, as the Cryptohopper trading botwill do all the heavy lifting. You will need to ensure that you have backtested and practiced your strategies before going live. Use multiple strategies to find out which one is most profitable, and also integrate pro tools like market arbitrage to expand your earnings.
However, if you are a beginner and don’t feel comfortable building, testing, and fine-tuning your strategies, you can find one on the marketplace. This social trading solution enables less experienced traders to leverage those that are tried and tested.
Although not guaranteed, this can increase your chances of being profitable using Cryptohopper. Then, once you become more familiar with the markets, you can build your own process, which could replace the one you are copying.
How much does Cryptohopper cost?
Cryptohopper offers a tiered pricing structure, with varying subscription plans tailored to different user needs. From basic to advanced plans, each tier unlocks access to additional features and functionalities, with fees ranging from competitive to premium rates. Let’s break this down.
| Pioneer | Explorer | Adventurer | Hero | |
| Cost | Free | $24.16/mo | $57.5/mo | $107.5/mo |
| Number of trades (opened/closed) | 20 | 80 | 200 | 500 |
| Key features |
|
|
|
|
| Level of experience | Beginner | Beginner | Intermediate | Advanced |
Reviewing Crypptohopper’s User Experience
One key area of this Cryptohopper review is understanding how easy it is to use the platform. Navigating the Cryptohopper platform is a seamless experience, thanks to its user-friendly interface and design.
From setting up trading strategies to monitoring opening positions, Cryptohopper prioritizes user experience, ensuring a smooth and efficient trading journey. Although the platform has more advanced features like marketing making and AI systems, using them is easy to do.
Once you have connected all your accounts from other exchanges to the live terminal, you can simply manage all your positions in one place. This is great for beginners who may find it overwhelming to switch from one platform to another.
Whilst this can sometimes be a difficult task for new users, Cryptohopper has simplified the process by creating a set of guides to walk them through the process. Additionally, the platform has a dedicated academy that teaches you the fundamentals of crypto, the stock market, and portfolio management.
For those who face difficulties navigating Cryptohopper, the website has a live chat for any pressing issues that arise. There’s also a helpdesk that goes into detail on specific issues, such as solutions for common errors.
What exchanges accept Cryptohopper?
Cryptohopper is compatible with a wide range of cryptocurrency exchanges, including Binance, Coinbase Pro, Kraken, and OKX. However, users should verify exchange compatibility and any associated restrictions before integrating Cryptohopper.
The integration process is simple with the help of dedicated guides that walk you through the steps to take. You first need to create an API key that acts as a connection between Cryptohopper and the exchange.
Once connected, you can monitor all trades and adjust positions and orders from multiple exchanges — all on the Cryptohopper live trading terminal. Let’s take a look at what exchanges currently support Cryptohopper.
List of exchanges that support Cryptohopper
- Binance and Binance US
- Coinbase Pro
- Poloniex
- Kraken
- Bitfinex
- KuCoin
- HitBTC
- OKX (formerly OKEx)
- Bitvavo
- Crypto.com
- EXMO
- Bybit
- Coinbase Advanced
- BingX
Platform restrictions
Restrictions and limitations will depend on the exchange to which you are connecting. Each platform will likely offer different markets, fees, coin pricing as well as liquidity. It will be important to learn these on each platform before joining.
Additionally, capabilities may differ based on the geography of the exchange. There may be localized restrictions that could impact your ability to open multiple positions, especially when it comes to market arbitrage.
Customer Support
Cryptohopper offers customer support on multiple channels, including email, live chat, and a comprehensive internal knowledge base. Customers can contact Cryptohopper at any given time on their website via live chat. Here are the main modes of getting support from the platform.
- Live Chat: Cryptohopper has a live chat feature on its website which allows customers to get instant assistance on their urgent issues.
- Email: For more in-depth queries, you can reach out to the Cryptohopper team via its support email: [email protected].
- Helpdesk: The helpdesk is a comprehensive knowledge base that includes guides, FAQs, a blog, and general articles on various areas of the bot and the market in general.
- Social Media: You can keep up to date with the latest news on Cryptohopper and engage with other users on its X (formerly Twitter), Telegram, and Discord channels.
Overall, there are favorable Cryptohopper reviews and ratings on platforms like Trustpilot. It has demonstrated a commitment to user satisfaction and support, and this has been reflected in how customers view it.
Compare this to a company like Binance, which, although is one of the biggest centralized exchanges (CEX) in the world, has a bad online reputation. 67% of its Trustpilot reviews are 1-star.
Is Cryptohopper Secure?
One of the key reasons for the positive Crypsohopper review on Trustpilot is its security. Cryptohopper prioritizes user security and employs stringent measures to safeguard user funds and personal information. With features like two-factor authentication and encryption protocols, Cryptohopper maintains a secure trading environment for its users.
Here are the main security features on the platform:
- Two-factor authentication: 2FA is used to authenticate your Cryptohopper account and ensure that your login credentials are verified before you can go into the platform. So even if your password has been compromised, the hacker will be unable to access your account due to the additional security.
- API Keys: Upon integrating additional exchanges, the level of security can be difficult to manage. However, during the process, you will be able to configure the API keys to limit actions by the bot. For example, you can ensure that no automatic withdrawals are done for the accounts you have connected.
- Cloud-based: Cryptohopper is based on the cloud with no physical servers powering the network. This means that the bot will have limited downtime or be susceptible to physical attacks. As a result, the bot will be able to scan for trading opportunities on a 24/7 basis.
- System maintenance: There are regular system updates and repairs that take place periodically. If any vulnerabilities are discovered by the team or users, they are inspected and instantly rectified.
Legal status of Cryptohopper?
Cryptohopper is a legal and legitimate platform for cryptocurrency trading. As an automated trading bot, Cryptohopper operates within the framework of applicable laws and regulations governing cryptocurrency trading.
The company is registered in the Netherlands and, therefore, is overseen by the Dutch Authority for the Financial Markets (DAFM). In addition to this, it holds licenses in numerous countries, including the United States. However, as it is a crypto-based bot, its legality will vary from state to state.
Is Dash 2 Trade a good Cryptohopper Alternative?
Dash 2 Trade is an alternative analytical platform and automated trading provider that gives traders a bird’s-eye view of the market. Unlike Cryptohopper, D2T assesses the risks and opportunities of each trading opportunity providing you the signals and giving you the chance to take the decision.
Overall, its trading platform offers signals, automated trading, backtesting of over 10,000 strategies as well as a range of additional bundles.
The bundles aim to assist traders with picking the best cryptos to invest in and the risk management needed to maximize profits.
Similar to Cryptohopper, Dash 2 Trade offers algorithmic trading solutions and advanced features like DCA (Dollar-Cost Averaging). Additionally, you can also connect your D2T account with exchanges like Kraken, Binance, and Bitget.
There are over 400 altcoin pairs the platform can analyze, giving investors the opportunity to diversify their portfolio. D2T also has its own native token, which operates on the Ethereum network and has a total supply of 1 billion.
To learn more about Dash 2 Trade, follow its Discord channel.
Conclusion
Cryptohopper presents a robust platform for automated cryptocurrency trading, offering a wide range of features and functionalities to suit varying user needs. While challenges may arise, particularly for novice traders, Cryptohopper’s intuitive interface and active community support make it a viable option for those looking to streamline their trading strategies.
Although profitability can never be guaranteed, Cryptohopper does help traders find investment opportunities on a 24/7 basis, whilst employing risk management best practices in the process.
If you are searching for more crypto auto trading platforms we have created a guide just for you.
FAQs
What is Cryptohopper?
Cryptohopper is an automated cryptocurrency trading platform that utilizes algorithms and artificial intelligence to execute trades on behalf of users.
Can you make money with Cryptohopper?
Although not guaranteed, users can potentially make money with Cryptohopper by implementing effective trading strategies and managing risk appropriately.
Can I use Cryptohopper for free?
While Cryptohopper offers a free solution, a subscription to one of its paid plans is required to access more in-depth features and trading tools,.
Is Cryptohopper legit?
Yes, Cryptohopper is a legitimate platform for cryptocurrency trading, operating within the framework of financial laws and regulations in The Netherlands.
Does Cryptohopper have a minimum deposit?
The minimum deposit requirement may vary depending on the cryptocurrency exchange used with Cryptohopper.
What do users say about Cryptohopper?
Reviews of Cryptohopper are generally positive, highlighting its user-friendly interface, diverse range of features, and active community support.
References
- What Is a Paper Trade? (Time)
- 3 tips to avoid emotional trading (CNBC)
- Asian arbitrage booms slows down (Reuters)
