CryptoHopper provides algorithmic intelligence, strategy design, copy trading, arbitrage, and connection with more than 17 Bitcoin exchanges.
CryptoHopper is a cryptocurrency trading bot company with a Software as a Service (SaaS) business model of subscription-based cloud services. This company started as a family business and was founded in 2017 by two brothers who wanted to integrate their skills (trading and web development) into a single project.
No programming knowledge is required to use CryptoHopper. Default and manually configurable strategies are offered according to the average user experience. In this CriptoNoticias review you will see the most important questions about CryptoHopper answered, as well as the fundamental characteristics of the platform explained and valued.
Variety of services on multiple exchanges
CryptoHopper software allows you to trade cryptocurrencies using robots called Hoppers. Portfolio management, mirror trading, strategy design, trading automation, arbitration, market making, and configuration of trading signals, among others, are some of the services offered by the software platform.
This software can be connected to a wide variety of exchanges, such as HitBTC, OKX, KuCoin, Bitvavo, Binance, Coinbase Advanced and Pro, Bitpanda, Bittrex, Poloniex, Huobi, Kraken, Bitfinex, Bybit, Crypto.com and Exmo.
You have to know certain technical aspects of trading to operate on CryptoHopper, however. For this reason, the platform offers tutorials, blogs, and other documentation to get started, as well as a frequently asked questions section that addresses the most commonly found usage errors.
Responsive UI – Default or Advanced
Registration on Cryptohopper is immediate: just enter a username, email, referral code (if you have one), password, and agree to the terms of service. It is also possible to log in with Google, Facebook or Apple.
You also have to perform the typical email confirmation plus a device confirmation to fully access the platform, so security is robust. However, these confirmation emails took several minutes to arrive at the time of registration.
Subsequently, the initial account setup is guided and easy to follow, and consists of choosing a name, country, exchange, bot type, and risk strategy.
Regarding the user interface, visible after completing the initial configuration, it is quite complete and has various vignettes or ‘layers’ in the upper central part, as well as a comfortable side menu on the left that gives access to libraries from strategy design, preconfigured bot templates, strategy, and signals marketplace, to a trading ‘social network’, user support and other interesting functions.
The user interface has a light mode and a dark mode in which gray and black predominate, which is always appreciated. The platform also has an advanced page mode, which has a real-time Tradingview chart and all the tools on one page, and then a default mode where it is easier to track results.
Is CryptoHopper safe to use?
According to CryptoHopper’s answers to user FAQs, the platform is not allowed to withdraw its depositors’ funds, even in the context of a data breach. Therefore, it will not be possible for hackers to access these funds.
Since the platform uses API keys (encryptions that allow access to an application programming interface), the bot only issues orders and purchase and sale instructions on the exchanges integrated into CryptoHopper, but does not have permission to deposit or withdraw from the user’s account…
In case the above was not enough, CryptoHopper has two-step authentication (2FA). One of them is Google Authenticator, a method that is commonly used, secure, and consists of entering a temporary key that appears in the corresponding mobile application when performing an important action on the platform.
The striking security novelty is that it is also possible to configure a YubiKey; that is, an even more secure hardware key that connects to the USB port, which generates a secret code that enables login.
What does CryptoHopper offer?
CryptoHopper offers a huge variety of tools, utilities, and options that combine trading, automated bots, and artificial intelligence in financial environments.
The platform offers traders the option to perform manual, automatic, and portfolio management trades on several of the largest cryptocurrency exchanges with well-known order types (stop-loss, take-profit, etc.). The range of cryptocurrencies to which trading tools can be applied is wide: bitcoin (BTC), ether (ETH), cardano (ADA), litecoin (LTC), etc. CryptoHopper also allows the integration of third-party applications. Most of these options are vital for the traditional trader who wants to integrate the ‘old ways’ with automated trading.
Regarding automated trading specifically, Cryptohopper offers backtesting services, different technical analysis scanning intervals, simultaneous trading, as well as copy trading, also called ‘mirror trading’. This type of trading consists of copying, manually or automatically, the trading actions of a professional trader with the aim of obtaining similar or identical results as him.
This trading bot platform also has a strategy designer, so you can considerably customize your trading style and patterns based on complex statistical indicators and candlestick formations at different times.
One of the most attractive features of CryptoHopper is that it allows you to use algorithmic intelligence when trading with bots. In this way, the bot can ‘learn’ and ‘decide’ for ‘itself’ when certain market contexts occur. Of all the strategies you teach, the bot would choose the optimal one for the current market event. Unfortunately, this feature is only available on the most expensive subscription plan.
Then there are the so-called ‘pro tools ‘, which allow triangular and inter-exchange arbitration, market making, and various API functions.
In short, CryptoHopper is a broad and very complete platform that offers a number of attractive options for manual trading, but whose specialty, due to the variety of options available, each one more complex than the other, is that of automated trading.
How does CryptoHopper work?
The web version of CryptoHopper has various functionalities and tools when it comes to automated trading.
The central panel or ‘ dashboard ‘, for example, contains fundamental elements when it comes to tracking the orders and operations of the active trading bots, such as portfolio distribution, last open positions, profits, losses, etc. This central panel could be complex for the unfamiliar user, as it appears overloaded with functions and buttons that must be understood and learned to use.
On the positive side, these functions and buttons allow for interesting customization of the bot’s behavior, such as allowing only buying, only selling, or both simultaneously. A really useful and interesting function is the ‘panic button‘, which when pressed issues immediate sell orders for all positions and stops the trading bot.
Profits on CryptoHopper are not guaranteed; They are not even when several of the tools are friendly to the novice user. To get the most out of your Hopper, it will therefore be necessary to know at least the basics of the techniques and terminologies of trading with cryptocurrencies. This is because customizing the strategies that the bots will follow requires the configuration of their general automated behavior, when buying and when selling. You should know, therefore, the types of market orders, order opening times, allowed currencies, strategies according to risks and indicators, etc.
Therefore, using a Hopper requires at least basic training in cryptocurrency trading. While trading automation is convenient for newbies or busy people, that fact will not exempt the user from having to study and learn.
The positive thing is that CryptoHopper allows both the use of a mock account and backtesting. Both functions serve as an experimental trading laboratory where you can test strategies and indicators without committing real money, both being very low risk. It is recommended that you test your operations in the laboratory before taking them to ‘real life’. The market is not going anywhere; Maybe your money will if you don’t improve your trading skills first.
In addition, CryptoHopper has a notable marketplace or utilities market where you can find templates and copy bots, strategies, signals, applications, and more, both paid and free. This gives depth to the platform and makes a number of high-quality settings accessible for trading. Each of the products for sale in said market has user guides, reviews, and user comments. Make sure you know these elements before paying for something.
