Cryptohopper Review: One Trading Bot That Does It All?

Is Cryptohopper the right tool for you? Or should you stick to manual spot and derivatives trades on centralized exchanges? This review will help you answer that question.

I’ll go over the features on Cryptohopper in depth to help you make an informed decision about this platform.

It’s worth noting that Cryptohopper isn’t just for traders. Professional analysts can also sell their services on the platform and earn rewards as high as $100,000.

Pros and Cons

Pros

• Supports 24/7 trading
• Works with a wide range of crypto brokers
• Highly secure, with restricted withdrawal API access
• Offers a paper trading account
• Comes with a strategy marketplace
• Loaded with technical analysis tools
• Tons of educational resources
• Intuitive interface
• Prompt customer support

Cryptohopper is rated 4.2 on Trustpilot, one of the most trusted online review platforms. Reviewers even praise its customer support setup.

Cons

• A bit complex for beginners
• High subscription costs
• Steep learning curve
• Driven by technical analysis and doesn’t always take market sentiments into account

Background and History: What Makes Cryptohopper the Service It Is Today?

Cryptohopper was founded in 2017 by two Dutch brothers, Pim and Ruud Feltkamp. Their goal was to create a service that uses automation to make life easier for new and advanced traders.

Over the years, the platform has established ties with many reputable crypto brokers like Binance, KuCoin, Bittrex, Kraken, OKX, and Exmo.

Setting up a Cryptohopper Account: How to Get Started

Setting up an account with Cryptohopper is incredibly simple. Just hit the “Sign Up” button and provide your username, email, and password to get started.

Once your account has been created, head to the exchange you want to work with and get an API to configure bots.

As an additional step, you can select a quote currency or switch to “paper trading” to get the lay of the land before proceeding.

Next, choose the type of bot you want to build. You can go the easy route and copy a bot, follow bot-driven signals, or create a fully customized bot. You can also select your bot’s risk profile (low, medium, or high).

Before activating your bot, check all the settings. If they’re good, hit the “Start Trading” button at the bottom of the page and you’ll be taken to the trading dashboard.

From the dashboard, you can:

• Tweak settings
• Follow trades
• Backtest strategies using technical analysis
• Check trade statistics
• Troubleshoot issues

If you’re using the Cryptohopper app, you can track markets and trading positions, position size, and more from your mobile device – or even your smartwatch.

All Cryptohopper Platforms: Unpacking the User Experience

I personally prefer to use the web interface since it makes it easy to try out multiple bots and combinations. However, Cryptohopper is also available as a mobile app (on Android or iOS).

The mobile app lets you track all exchange accounts, check the marketplace with a single click, and check positions.

If you have a pre-existing bot, you can copy its template and start trading. Or you can find templates on the marketplace and copy one of those.

Analyzing the Cryptohopper Platforms: Web, iOS, and Android

iOS Features

1. Quick access to the copy trading interface
2. Portfolio management tools
3. Built-in security implementations
4. Push notifications

Android Features

1. Price alerts
2. Real-time market insights
3. Integrated trade management tools
4. Access to trading history

Web Platform Features

1. Access to the strategy builder
2. Access to paper trading
3. Support for strategy backtesting
4. API access for businesses

Features and Tools

A good trading bot is all about the features it packs under the hood. So, let’s look at everything Cryptohopper has to offer.

Automation

The majority of Cryptohopper’s features are related to automation.

Beginners can start automated trading by simply copying a trading strategy and following it to the letter.

More experienced users can push trialing orders to better track prices and enhance their chance of making a profit.

Cryptohopper offers algorithmic trading tools and lets you connect with third-party signal providers to improve your trading performance.

It also offers a Dollar-Cost Averaging bot, letting you accumulate choice assets without having to time the market.

Social Trading

Cryptohopper’s social trading feature gives users access to a marketplace with a vast range of trading options. Unlike copy trading, where users copy individual strategies, social trading also gives you access to news feeds and chat rooms to share strategies.

Cryptohopper’s approach to social trading places an emphasis on template downloads, signal testing, and using pre-defined strategies.

Copy Trading

If you’d rather focus on copying individual trades, Cryptohopper has you covered. The process is simple. Just head over to the marketplace and copy bots based on their exchanges, profits, and other metrics.

You can even click on the training strategy of any given bot and have a closer look at their assets, drawdown percentage, and other details.

Strategy Designer

Here comes the fun part.

If you’re already neck deep in technical analysis and want every trading move to be in line with particular indicators, the strategy designer is for you. This feature allows you to set explicit trading moves based on candle patterns or precise movement of indicators.

Cryptohopper lists all TradingView indicators. And yes, you can set the number of buy and sell signals based on the plan you’re currently subscribed to.

You can also set TradingView alerts and initiate trades based on them.

AI Trading

Cryptohopper’s AI trading feature lets you feed data sources into their AI and have the algorithm create strategies for you. You can even instruct the AI to pick signals from TradingView to further improve your trading capabilities.

Paper Trading

If you’re not yet ready to spend real money with the bots, you can use Cryptohopper’s paper trading interface to get some practice first.

Paper trading is just like real trading, except you’re using made-up funds and putting none of your money at risk. It’s a great way to learn how to set up bots, get familiar with trading, and get ready to move to an account with real funds.

Other Features

Cryptohopper has a marketplace packed with pre-defined templates, strategies, signals, and bots. For instance, you can pick a rising signal from the marketplace by paying an additional fee and then implement that signal in your own trades.

Cryptohopper can also work as your personal portfolio manager, allowing you to keep track of all your exchange assets. While training with bots, you can set highly specific orders like take profit positions, stop loss and TP orders, and short selling positions.

There are several pro tools as well. These will let you make more ambitious trades and set exchange arbitrage, triangular arbitrage, market making, and other signals to earn more.

There is also a loyalty program with benefits like partner discounts, access to newsletters, and the ability to become a marketplace seller.

Finally, Cryptohopper offers a wealth of educational materials for its users. These include free and paid courses designed to get you up to speed on bot trading, technical analysis, and other aspects of trading.

Fees and Limits

Like any other crypto service provider, Cryptohopper charges fees.

If you’re a new user, you can stick with the Free plan, which allows you to open up to 20 positions per exchange and manage portfolios across exchanges.

More confident traders can move up to the Explorer tier. For $24.16 per month (if you pay annually), this plan allows you to open 80 positions, set event-specific triggers, and connect external signallers to set AI-based strategies.

Ambitious traders can go for the Adventurer or Hero plan, both of which offer advanced features but at significant monthly costs.

Here’s a detailed feature breakdown of the plans and what they offer.

If you don’t want to subscribe to a monthly plan, you can still by individual signals from the Cryptohopper Marketplace. The prices range from $9.99 to $99.99 per month.

Whether you’re opting for a plan or sticking to individual signals, Cryptohopper accepts fiat payments through PayPal, crypto payments through BitPay, as well as other third-party payment processors.

Cryptohopper’s Security Posture and State of Customer Support

Cryptohopper takes security very seriously. They have taken special care with their API key integration, giving bots access to trade but not to withdraw funds.

The app and website also use:

• Two-factor authentication for logins
• Data encryption
• Session management (automatically logging you out after a period of inactivity)
• New device confirmation to ensure no one logs into your account without your permission

The platform also conducts regular security audits to ensure the safety of its users’ data.

One of Cryptohopper’s innovative security features is the bounty program, which rewards users for identifying and submitting any security vulnerabilities.

Cryptohopper also has great customer support features, including:

1. Round-the-clock chat support
2. Extensive FAQ section and video resources
3. Access to HelpDesk for raising tickets

Should You Give Cryptohopper a Try?

Cryptohopper is a great trading tool for users of any experience level.

Newbie traders interested in regular accumulation can greatly benefit from using the DCA-driven trading bot. And there are useful beginner-friendly features like copy trading and paper trading.

More advanced traders can use Cryptohopper to unlock arbitrage trading opportunities across multiple crypto brokers.

Professional traders and analysts can earn even more by selling their services on Cryptohopper.

No matter your experience or expertise, Cryptohopper can be your one-stop bot service platform.