Cryptohopper claims to be a world-class automated crypto trading bot. As per the vendor’s claims, it is easy, efficient, and innovative. To check the reliability of this trading tool, we are going to look into various factors like working principle, features, profitability, supported exchanges, customer support, pricing, and security.
What is Cryptohopper?
This platform lets you trade in crypto without falling prey to emotions. It is based on Artificial Intelligence, which facilitates the creation of a trading system that is adaptive and self-learning.
Let’s look at the principal features of this system:
To trade on this platform, you don’t need to be a professional. There are pro traders whose trades you can copy. You can download readymade bot templates and scan the markets using advanced strategies.
Backtesting and simulated trading
You can test your strategies without investing any real money, thanks to the paper trading tools available on this platform. It is possible to backtest your strategies and make the necessary adjustments.
This feature backtests your strategies automatically and enables the AI to choose the most effective strategy for the current market. The AI can analyze market trends and detect uptrends, downtrends, and sideways markets.
This platform was launched in 2017 by Dutch brothers Pim Feltkamp and Ruud Feltkamp. The headquarters of this company is located in Amsterdam, The Netherlands. We don’t know anything about the other team members, but the brand has several reviews on the web, which tells us that it has a good reputation.
How does it work?
This software remains active 24/7 scanning up to 75 markets at the same time. With every plan, you get a real robot and a simulator. While the former trades the crypto market, the latter lets you test new strategies. You can track the prices with trailing stop loss and this prevents you from buying and selling at the wrong moments.
How to sign up with Cryptohopper?
To sign up, visit the official website and click on the Get started button located at the top right corner. After that, you need to enter personal information like email and name and select a username and a password. You can also sign up using Google and Facebook.
Does Cryptohopper offer a demo account?
Yes, the platform offers a paper trading account where you can practice using fabricated crypto.
Profitability of Cryptohopper
Profitability depends on a number of factors like trading strategy and market conditions.
Payments, deposits, and withdrawals
There are no additional payments to be made except the subscription fee. You cannot make deposits and withdrawals through this system.
Here are the supported exchanges:
- Bitpanda Pro
- Coinbase Pro
- Binance US
What about customer support?
You can get in touch with the support team at the email address provided on the website. Alternatively, you can use the contact form.
Benefits of using Cryptohopper
Here is the list of advantages:
- No additional fees
- Advanced trading tools for professionals
- Copy trading features
Drawbacks of using Cryptohopper
Let’s look at the disadvantages:
- On-call support not available
- Limited features with the free plan
There are three paid plans, namely Explorer, Adventurer, and Hero, and the monthly charges for these are $19, $49, and $99, respectively. With the costlier plans, you get more trading positions, selected coins, and triggers.
What are the security measures?
Your account is protected by a username and a password. Additionally, you can secure your account with 2-factor authentication.
Is Cryptohopper legit?
Yes, this is a legit and secure platform that protects your privacy and is trusted by many.
Ease of use
Beginners will find it easy to use this platform, thanks to the tutorials and the copy trading features.
Is Cryptohopper a good choice for automated trades?
Yes, it is a great choice for those with existing accounts on exchanges looking for advanced trading tools.
What are the risks of using Cryptohopper?
The crypto market is volatile and some price changes can be unexpected. However, the platform has risk management features like trailing stop loss to limit losses.
Review verdict: affordable trading bots with advanced features
Cryptohopper is a platform that is suitable for both novice and expert traders. Even if you don’t possess any knowledge about crypto trading, you can get started by copying the trades placed by experts. With the more expensive plans, experts can access premium indicators and algorithmic intelligence that helps improve the decision-making process.