CryptoHero is a reputed automated crypto trading bot that trades on a 24/7 basis. As per the vendor’s claims, it never misses a profit-making opportunity. They also claim that you don’t need any coding skills to work with this system. To check the reliability of this tool, we will analyze the working principle, pricing, profitability, and supported exchanges in this CryptoHero review.
What is CryptoHero?
It is a trading bot that automates your crypto trading operations. Here, you can create trading bots and run them in a matter of minutes. You can also backtest them with historical data to test their profitability.
Here are the most important features of the system:
- Paper trading
There are simulated accounts on this platform where you can test your crypto bots. Since you’ll be using virtual money, this is totally free of risks.
- Portfolio tracking
The platform lets you observe the performance of your portfolio. You can keep a close eye on how your assets are performing on multiple exchanges.
- Technical indicators
CryptoHero has a wide range of technical indicators like Bollinger Bands, EMA, RSI, Stoch RSI, and MACD. Using them, you can make your entries and exits without writing any code.
- Discover section
This section presents you with a list of instruments and bot settings. You can copy them to easily create a trading bot. These settings are updated regularly. Apart from the performance, you can also access technical analysis.
The parent company behind this platform is known as the Novum Group, which is a large group of blockchain companies in the media and technology, hedge fund industry. The founder of this company is an entrepreneur called Christopher Low and its headquarters is located in Singapore.
How does it work?
The first step is to connect your exchange. This will populate the list of tradable crypto assets, after which you can allocate your funds in the bots. You can set different rules for entries and exits. The platform also lets you test the viability of strategies using archival data.
How to sign up with CryptoHero?
Visit the official website and click on the Login tab located in the upper right corner. This will take you to the login page where you can find the option to create an account. You can sign up by providing basic data like name and email address and choosing a password.
Does CryptoHero offer a demo account?
Yes, there are demo accounts on this platform where you can trade using virtual money.
Profitability of CryptoHero
Profitability depends mainly on the market sentiment and the chosen strategy.
Payments, deposits, and withdrawals
Apart from the subscription fee, there are no other payments to be made. The platform doesn’t have permission to make deposits or withdrawals, which means even if someone got access to your credentials, your funds would not be compromised.
This platform supports several exchanges like Binance, Huobi, OKEx, Bittrex, FTX, Kraken, Bitfinex, Coinbase Pro, Gate IO, Kucoin, IndoDax, Tokocrypto, Mandala, Crypto.com, and TradeStation.
What about customer support?
You can directly send a mail to the service team using the Contact Us button on the website.
Benefits of using CryptoHero
Here are the advantages:
- Free plan available
- Multiple bot types
- Technical indicators supported
Drawbacks of using CryptoHero
- Different payment modes for web and mobile
- No on-call or live chat support
There are three plans for this platform, namely Basic, Premium, and Professional. While the Basic plan is free, the Premium and Professional plans cost $13.99/month and $29.99/month, respectively. Compared to other platforms, the plans are quite cheap.
What are security measures?
CryptoHero links to exchanges securely using API keys and uses the HTTPS protocol. However, it doesn’t have 2-factor authentication.
Is CryptoHero legit?
Yes, it is a legit platform that has been featured on Yahoo! Finance, Tronweekly, SuperCryptoNews, Coinmonks, and other places.
Ease of use
While the sign-up process is easy, new users might get confused with the wide range of bots and strategies.
Is CryptoHero a good choice for automated trades?
If you know the basics of crypto trading, then this platform is a great choice, thanks to its multiple strategies, paper trading, backtesting, and portfolio features.
What are the risks of using CryptoHero?
The volatile nature of the crypto market makes trading inherently risky, but you can use take profit and stop loss to mitigate the risk.
Review verdict: renowned crypto bot with affordable plans
CryptoHero is a decent choice for those who require an affordable trading bot. It has an intuitive interface and all the necessary features a crypto trader might need. Since it has a free plan, you can experience all the basic functionalities to determine whether it is suitable for you.