Cryptohopper: The Rundown
Cryptohopper might or might not fit the definition of a trading bot, depending on how you define it. Crypto hopper is a great trading platform that offers advanced trading tools, as well as backtesting and signaling tools that are used by professionals.
Cryptohopper offers its clients a cloud-based platform that allows them to manage multiple crypto positions on 8 major crypto exchanges (officially supported).
Cryptohopper is officially supported by the following exchanges:
- Coinbase Pro
According to its website, Cryptohopper supports 75 tokens, so clients won’t have any problems finding a token pair to trade.
Cryptohopper: How it Works
Cryptohopper’s clients will be able to use a range of semi-automated trading tools on supported exchanges. A user can configure the Cryptohopper bot to automatically trade on exchanges with a client’s account once it is configured.
Additionally, the platform provides trading signals that can help you decide whether to enter or exit a position. Cryptohopper also offers social trading functionality that allows traders to work together to profit.
Tools for Cryptohopper
You can use Cryptohopper to set up parameters for buying and selling on any of the crypto exchanges that support its platform. However, the platform doesn’t really offer fully automated trading something, even though you can configure your triggers to work in any market condition.
Cryptohopper has the following order types/trading tools:
Trailing Stop Loss –
It can be a good idea to use a stop loss order that adjusts itself to the market when a position moves in your favor, so that some of the gains will be certain. This is what a trailing stop loss does, and Cryptohopper has it built into its platform as a standard feature
Searching for Targets –
It is simply impossible for traders to be at a trading terminal 24/7, which is why they use automated tools. Cryptohopper will be at all exchanges, all of the time, looking to open or close a position when the market moves to a level you specify. This is very helpful for traders who aren’t able to make trading a full-time job, but have an idea of where they want to take positions.
Reserved Funds –
Using Cryptohopper’s reserved funds tool, you can set aside a certain amount of tokens to make sure you always have something in your account. Depending on your trading style, this feature may or may not be useful, but having it available is always a good idea.
Scalp Trading –
By scalping (or trading on small market movements), you can make money quickly. The Cryptohopper platform automates the scalping process, so you can set the parameters for the platform to follow.
Positive Pair Trading –
Cryptohopper has created a positive pair trading tool to help you find the best opportunities for winning trades based on the trend. Cryptohopper’s positive pair tool will look for token pairs that have been performing well over the past 24 hours, and enter those markets.
It’s easy to get involved in the crypto markets with Cryptohopper’s triggers. If you set up triggers to buy or sell short any of the tokens that Crypto hopper supports, you can make a trade when the market moves in the direction you think it will.
Short Selling –
When you sell a token short, you will be able to profit from the fall in its value, and Crypto hopper is able to sell a token short when a trigger point is hit. You can also set a level at which the position would be closed and your profit locked in.
Dollar Cost Averaging –
By buying a larger position in smaller increments, the overall position cost changes. It is called dollar-cost averaging, and Cryptohopper has built a dollar-cost averaging tool into its trading platform. You can learn more about dollar-cost averaging on Crypto hopper’s website.
As a part of its social trading network, Cryptohopper allows third-party traders to act as signalers. A signaler’s trading track record can be seen, and you can trade your tokens with them. The past trading success of other traders is no guarantee of the future, but it is a nice option if you want to use their insight to potentially profit.
Cryptohopper offers a three-tiered pricing structure, and the lowest tier can be demoed for a week for free.
7-Day Free Trial – Try the Explorer hopper plan for seven days for free.
Explore: Starter package ($19/month) – The starter package will cost you $19 USD per month. Using this plan, you will be able to manage 80 positions from a list of up to 15 tokens, with technical analysis applied every 10 minutes. With this plan, you can also set up two triggers.
Trading Plus Package ($49 Per Month) – The Adventure Hopper plan is Cryptohopper’s mid-range plan, and it will cost you $49 USD per month. This plan increases the number of positions to 200 and lets you trade 50 different tokens. In addition, you will get technical analysis every five minutes, and you will be able to use five triggers.
Crypto hopper’s Pro Trader package ($99 per month) is the top-of-the-line offering. With it, you can manage up to 500 positions across 75 tokens. It costs 99 USD per month and allows you to use 10 triggers and receive technical analysis every two minutes. In addition to the rest of the features, the Hero Hopper plan also offers altcoin signals.
We have a detailed review of Crypto hopper right here if you’re interested.
Is Cryptohopper a Better Platform?
The Crypto hopper platform could be a good choice if you want to manage your crypto trading. It does provide a range of automated trading tools, which once configured are more or less automatic. Although building your own trading algorithms might sound challenging, Crypto hopper’s platform is very easy to use.
Crypto hopper stands out for the sheer number of open positions it allows its customers to keep. The most basic plan allows you to trade up to 80 positions, which is quite a lot for a single trader. It is also very affordable to try Crypto hopper on a medium-term basis, and it can be paid for on a month-to-month basis.
Crypto hopper is a very capable automated trading platform, and it is a great choice for anyone who wants to be connected to the crypto markets all the time.