Cryptohopper Review 2024

Our Verdict

Cryptohopper - Popular Crypto Trading Bot

Cryptohopper is one of the leading automated crypto trading bots that helps users adopt a hands-free approach to buying and selling altcoins. The trading bot scans the market 24 hours 7 days a week and opens positions based on users’ trading strategies and preset parameters.

The Cryptohopper bot scans the market for the lowest prices to maximize profits. This revolutionary trading robot can be integrated with the best crypto exchanges including Binance and OKX, trading cryptos in real time.

Pros

  • Allows 24/7 trading with bots
  • Includes trailing stop-loss and stop-buy options
  • Offers copy and social trading

Cons

  • Subscription fees for advanced features may be high for some traders
  • Dependency on the connected exchanges
  • Inherent market fluctuation risks are involved

Cryptohopper Review

Ruud and Pim Feltkamp founded and launched Cryptohopper in 2017 with the goal of making crypto trading simple and effective for everyone. The platform offers automated trading bots that operate 24/7, allowing users to trade efficiently and without emotional biases.

It connects to multiple crypto exchanges, enabling users to manage their portfolios from a single interface. Users can also copy strategies from expert traders or use the platform’s AI for automated trading decisions.

This Cryptohopper review highlights how users can leverage the platform’s advanced tools, like market-making and arbitrage strategies, and participate in trading tournaments.

Our Verdict on Cryptohopper

Cryptohopper is a versatile platform for crypto traders suitable for traders with any level of experience. Its features include automated trading bots, comprehensive market analysis tools, and a user-friendly interface.

Our Cryptohopper review highlights how the platform provides tools for strategy automation, risk management, and portfolio diversification. Its commitment to security and privacy and its adaptive trading algorithms make it a reliable and efficient tool.

How Does Cryptohopper Work?

Cryptohopper is a promising auto-trading platform that has grown rapidly and hosts millions of monthly transactions. It aims to make crypto trading accessible and enjoyable for beginners and experienced traders by offering a range of user-friendly yet powerful tools.

The platform operates as a comprehensive trading system, allowing users to automate their trading strategies, manage their portfolios across multiple exchanges, and access various technical analysis tools.

A key feature of the platform is its automation capability. Users can set up trading bots that operate based on pre-determined criteria and trading signals.

These bots can trade around the clock, ensuring opportunities are not missed due to time zone differences. This automation also reduces the emotional aspect of trading, which is often a significant hurdle for traders.

Cryptohopper Automatic Trading

The platform uses technical and fundamental analysis tools to scan the crypto markets for potential opportunities. This feature allows traders to make informed decisions based on current market trends and data.

Cryptohopper’s algorithmic trading is another feature that allows traders to develop, test, and implement complex trading strategies. With a simple interface, traders can create algorithms without extensive programming knowledge. This opens access to sophisticated trading strategies, previously only available to those with a technical background.

Features

This Cryptohopper review highlights the platform’s unique tools and features for beginner and experienced crypto traders. Some of the platform’s top features include;

Automated Trading

Cryptohopper enables automated trading through bots that operate 24/7. These bots can execute trades based on specific criteria and strategies, even when you’re not actively monitoring the markets.

This feature helps take emotion out of trading decisions, potentially leading to more disciplined and consistent trading. Moreover, users can tailor trading strategies to fit their risk tolerance and goals.

Portfolio Management

The platform allows you to connect to and manage multiple exchange accounts in one place. This integration provides a unified view of your crypto portfolio, making it easier to monitor and manage your investments across various exchanges without the need to log into each one separately.

The platform can automatically rebalance the user’s portfolio, ensuring their investment distribution aligns with their strategic goals. This automation helps in maintaining a desired asset allocation over time.

Trailing Features

Cryptohopper’s trailing stop-loss feature is a dynamic tool designed to improve trading strategies by protecting profits and limiting losses. Unlike a standard stop-loss set at a fixed price, a trailing stop-loss adjusts as the price of the crypto moves. This means it trails the price by a predetermined percentage or amount.

When the price of a crypto asset rises, the trailing stop-loss moves up proportionally. If the price falls, the stop-loss doesn’t move down, effectively locking in profits.

Copy Trading and Social Trading

Cryptohopper is one of the best copy trading platforms that allows users to copy the trades of successful traders automatically. Users select a trader to follow, and their trades will be mirrored in the user’s account, allowing them to benefit from the experience and strategies of seasoned traders.

Also, the social trading platform creates a community where users can discuss strategies, share insights, and learn from each other. This collaborative environment is ideal for new and experienced traders to exchange ideas and stay informed about market trends.

Users can also browse and subscribe to trading signals, strategies, and bot templates in the marketplace. This feature opens up access to professional trading strategies, making it easier for users to improve their trading decisions.

Pro Tools

The platform provides advanced tools like dollar cost averaging (DCA), market making, and arbitrage. DCA is a strategy where investors invest their money in equal parts at regular intervals, regardless of the price. Market-making and arbitrage tools help exploit market inefficiencies for potential profits. Also, users can access comprehensive charting tools at no additional cost.

Additionally, for risk-free practice, the platform provides a simulator for paper trading, allowing users to test strategies without real money. It also offers a strategy designer that allows you to create trading strategies using various indicators and patterns.

AI and Algorithmic Trading

Cryptohopper uses AI to analyze market trends and adjust strategies automatically.  The AI analyzes numerous strategies and signals to optimize trading decisions. This algorithmic trading system is designed to adapt to changing market conditions, improving the potential for profitable trades.

Also, Cryptohopper’s AI is equipped to automatically backtest strategies, allowing traders to evaluate their potential without risking actual funds. This feature is particularly useful for fine-tuning trading approaches and understanding market dynamics.

Can You Really Make Money with Cryptohopper?

The chances of making money with Cryptohopper largely depend on the chosen trading strategy. The platform’s automated trading bots follow predefined strategies and execute trades based on market analysis and trends, making it one of the best crypto auto trading platforms to watch out for.

This automation can potentially lead to profits, especially in volatile markets where timing and quick response are crucial.

Additionally, for those who lack the experience or confidence to create their own strategies, Cryptohopper offers a copy trading feature. You can replicate the trading actions of experienced traders. This allows you to benefit from the expertise and strategies of seasoned traders, potentially leading to profitable trades.

Moreover, there are subscription fees for using Cryptohopper, which should be considered when calculating potential profits.

Cryptohopper Automated Trading

Cryptohopper provides various tools, such as DCA, market making, arbitrage, and trailing features, designed to improve trading strategies and be effective in different market conditions. For instance, DCA helps reduce volatility’s impact by spreading the purchase of assets over time.

The platform also includes risk management features like stop-loss orders, essential in minimizing losses during market downturns.

The platform offers educational resources and a community for traders. Engaging with these can improve your trading skills and strategy development, increasing your chances of making profitable trades.

Cryptohopper Pricing And Fees

Understanding the pricing and fees for using Cryptohopper is crucial for anyone considering it. While the free plan is good for starters, the paid plans provide more comprehensive features for serious trading. Users need to assess their trading requirements and budget when choosing a plan.

Here’s a quick breakdown:

Free Pioneer Plan

  • Cost: Free
  • Features: This plan offers basic functions like manual trading and managing your portfolio across multiple exchanges.
  • Limitations: It does not include automated trading bots or advanced features.

Explorer Package

Monthly Cost: Starting at $24.16 (when paid annually)

Key Features:

  • Up to 80 positions per exchange.
  • Strategy interval checks every 10 minutes.
  • Access to strategy designer tools.
  • Paper trading (simulated trading) and backtesting features.
  • Includes two event-based triggers and backtesting capabilities.

Suitable For: Beginners who are starting with automated trading.

Adventurer Package

Monthly Cost: Approximately $57.5 (pricing might vary based on promotions or payment frequency)

Key Features:

  • Increased open positions per exchange.
  • Faster strategy interval checks (5 minutes).
  • More event-based triggers (5 total).

Suitable For: Intermediate traders who require more capacity and quicker response times.

Hero Package

Monthly Cost: Starts from around $107.5 per month when billed annually.

Key Features:

  • Up to 500 open positions per exchange.
  • 2-minute strategy interval checks.
  • Capability to scan markets with the power of 75 bots.
  • Access to 10 event-based triggers.
  • Advanced features like AI strategies, market-making, arbitrage trading, and additional technical indicators.

Suitable For: Advanced traders looking for comprehensive tools and features for sophisticated trading strategies.

Additional Points To Keep In Mind

  • Trial Periods: A 3-day free trial is available for the Explorer package.
  • Subscription Flexibility: Monthly and yearly payment options are available, with the yearly option offering significant savings.
  • Copy Bot Trading: Separate fees apply for using copy bots, ranging from $9.99 to $99.99 monthly.
  • Minimum Funds for Trading: Varies based on the exchange; some trading might be possible with as little as $20, but users should consider subscription costs.
  • Multiple Bots: Multiple trading bots can be operated on a single account; however, each subscription allows one bot and one paper trading bot.
  • Refunds: Cryptohopper may offer refunds within two weeks of purchase for certain subscription plans.

User Experience

Cryptohopper has a simple signup process. Users can quickly start by connecting their crypto exchange accounts using API keys. It supports some of the best cryptos and is compatible with major exchanges like Binance, Bitfinex, Coinbase Pro, and others.

The platform’s interface is simple to follow and use, making it easy for beginners to navigate various functions. The dashboard provides a quick overview of all essential features.

It combines advanced trading tools with a user-friendly setup for beginners. The drag-and-drop bot designer is a key feature, allowing users to create automated trading strategies without coding knowledge. Users can easily select indicators, define buy or sell conditions, and set up fundamental aspects like volumes.

Cryptohopper User Experience

Cryptohopper also focuses on education and support for its users. New traders can benefit from resources like the Cryptohopper Academy, paper trading accounts for testing strategies without financial risk, and a community forum. These features make the platform beginner-friendly and offer a learning curve to new users.

The platform’s marketplace is another key feature, providing access to pre-programmed trading bots and strategies developed by other traders. This marketplace offers free and paid strategies and includes a transparent view of each bot’s performance history and user feedback, allowing for informed decision-making.

Moreover, Cryptohopper is cloud-hosted, ensuring availability on various devices, including the web, phones, tablets, and even smartwatches. This ensures continuous monitoring and trading capabilities.

Additional Features Improving User Experience

  • Tournaments: Cryptohopper hosts trading tournaments, offering an engaging way for users to test their skills.
  • 24/7 Support: The platform provides round-the-clock support, promptly addressing user queries and issues.
  • Global Accessibility: Cryptohopper’s features are designed to cater to a global audience, with various tools and settings customizable for different trading preferences.

Where Can You Use Cryptohopper?

Cryptohopper is a highly customizable crypto trading bot that offers services across various crypto exchanges.

The platform connects to exchanges via API keys, allowing the Cryptohopper bot to execute trades on behalf of the user. This setup means your funds remain on the exchange while Cryptohopper manages the trading.

The platform can manage multiple exchange accounts simultaneously, providing a consolidated view of your crypto portfolio.

It’s designed to cater to different skill levels, from beginner to algorithmic trader, providing various tools and features. Here’s an overview of where and how you can use Cryptohopper:

Exchanges Supported by Cryptohopper

Cryptohopper is compatible with several major crypto exchanges. This broad support is crucial because it enables users to integrate the Cryptohopper trading bot with their preferred platforms. Some of the best exchanges compatible with Cryptohopper include:

  • Binance and Binance US
  • Coinbase Pro
  • Poloniex
  • Kraken
  • Bitfinex
  • KuCoin
  • HitBTC
  • OKX (formerly OKEx)
  • Bitvavo
  • Crypto.com
  • EXMO
  • Bybit
  • Coinbase Advanced
  • BingX
  • Other Supported Exchanges

Restrictions and Limitations

Each exchange has its own set of rules and limitations, such as minimum trade volumes and available trading pairs, which will also apply when using Cryptohopper. Some exchanges may have geographical restrictions, affecting where users can trade using Cryptohopper. Users must ensure they comply with their local regulations regarding crypto trading.

Additionally, depending on your subscription plan, there may be limits on the number of positions you can open, the frequency of strategy interval checks, and the number of triggers you can set.

Cryptohopper Customer Support

Cryptohopper’s customer support provides multiple channels for assistance, high customer satisfaction, and 24/7 accessibility. For a beginner investor, this means having a reliable support system while navigating the complexities of crypto trading. Here’s an overview of the platform’s customer support:

Channels of Support

  • Email Support: Cryptohopper provides email support for detailed queries and technical assistance. Users can reach out to the support team at [email protected].
  • Live Chat: The platform offers a live chat feature, allowing users to get instant responses to their queries.
  • Help Center: An extensive help center is available on the Cryptohopper website, which includes FAQs, guides, and articles to assist users.
  • Social Media Platforms: Cryptohopper is active on various social media platforms, offering another avenue for support and updates.

Additionally, Cryptohopper uses a support ticket system for customer service. This system requires users to have an account with Cryptohopper. After logging in, users can submit a support ticket to address their issues or queries.

It’s generally observed that Cryptohopper has a favorable reputation on TrustPilot. This indicates a high level of customer satisfaction and trust. User reviews often highlight the effectiveness of the platform and the quality of support received.

Binance, another major player in the crypto space, has comparatively lower ratings in some aspects of customer service. This contrast shows Cryptohopper’s strong position in providing customer support.

Is Cryptohopper Safe?

When using an automated crypto trading bot like Cryptohopper, a primary concern for beginner investors often revolves around safety. Cryptohopper assures users of their data privacy, stating that user data won’t be shared without permission. 

Here’s an overview of the safety measures used by Cryptohopper to provide users with a secure trading environment:

  • Advanced Security Protocols: Cryptohopper uses advanced encryption technologies to protect sensitive user data and communication. Additionally, users can enable 2FA, adding an extra layer of security to their accounts and preventing unauthorized access.
  • Collaboration with Exchanges and Regular Audits: The platform works closely with exchanges and regulatory bodies to ensure compliance with financial regulations and industry standards. It also undergoes regular security audits to identify and rectify potential vulnerabilities.
  • API Key Usage: When users connect their exchange accounts to Cryptohopper using API keys, they can set it so that the bot does not have withdrawal rights. This means the bot can execute trades but cannot withdraw funds from the exchange, significantly reducing the risk of fund misappropriation. Also, the API keys grant limited access to the account for trading purposes only. This means that even if the keys are compromised, the security of the user’s funds in the exchange account is not compromised.
  • Cryptohopper reviews: Cryptohopper has a large user base of over 774,000 traders, many of whom have given positive testimonials. User testimonials and reviews often highlight the reliability and security of the platform.
  • Regular Updates and Maintenance: Regular software updates improve security features and ensure the platform stays ahead of potential vulnerabilities. The platform has a dedicated team continuously working on improving and securing the platform, showing a proactive approach to security.
  • Cloud-Based Operation: Being cloud-based, Cryptohopper provides constant, reliable operation. This setup minimizes the risk of downtime, ensuring that your trading strategies are always active. Users can access and control the platform from any device (web, phone, tablet, etc.), offering flexibility and constant oversight of their trading activities.

Is Cryptohopper Legal?

Cryptohopper is a company incorporated under the laws of the Netherlands and operates under Dutch jurisdiction. This suggests that its operations are legal in the Netherlands, provided they comply with all relevant Dutch laws and regulations.

The platform is also legal in many jurisdictions, including the United States. However, its legality depends on the specific regulations regarding crypts and automated trading in each country. In the U.S., cryptos are legal, and laws regulate digital assets, making platforms like Cryptohopper permissible for traders.

Additionally, the platform’s terms and conditions document outlines the financial aspects of using the platform, including service fees and payment methods. Legitimate companies typically have clear financial policies.

Legality also depends on how the service aligns with each country’s laws. Different countries have varying regulations regarding crypto trading.

Dash 2 Trade: Best Cryptohopper Alternative

Dash 2 Trade is a promising crypto analytics and trading tool platform that helps traders make well-informed and educated trading decisions.

It offers a comprehensive dashboard with independent, actionable insights and consistent trading signals. The platform’s auto trading feature is set to launch in Q1 2024. This feature will allow for automated trading based on pre-selected strategies.

Dash 2 Trade focuses on algorithmic trading, particularly DCA (Dollar-Cost Averaging) and grid bot types, with plans to expand its range of bots. The backtesting feature allows traders to simulate over 10,000 strategies and indicators, while detailed analytics cover over 400 coin pairs, helping traders identify profitable opportunities.

Dash 2 Trade homepage

Dash 2 Trade uses the ERC20 D2T token based on the Ethereum blockchain for all dashboards and other services. The D2T token has a total supply of 1 billion tokens. The allocation strategy for the supply includes treasury, liquidity, public sale, and project growth.

The platform provides five educational guides that help traders make better trading decisions. It also plans to add “CopyBots” and a “Strategy Builder” to offer a comprehensive trading environment that improves users’ trading skills.

Conclusion

Cryptohopper is a promising crypto trading platform for beginner and experienced crypto traders that offers a blend of automated trading bots, strategic tools, and portfolio management features. It focuses on providing high security & privacy and compatibility with major crypto exchanges.

While trading success depends on individual strategies and market dynamics, Cryptohopper provides various tools to optimize these strategies, from copy trading to advanced AI analysis. The flexibility of free and paid plans caters to a wide range of trading needs and budgets.

References

FAQs

 

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Michael Graw

Michael Graw is an experienced writer in the business and B2B tech fields. His articles can be found on Business Insider, Entrepreneur, Tom’s Guide, and TechRadar, and cover everything from corporate finance to crypto and international tech regulation. A prolific copywriter and entrepreneur, Michael has worked with a wide range of SaaS and tech companies and has his finger firmly on the pulse of B2B tech and finance.