Cryptohopper Review: Is It Worth It?
Cryptocurrencies have had their ups and downs over the past few years. Still, many believe they're on their way to being a major long-term investment. If that's true, investing in Cryptocurrencies might be worth considering, especially if you have limited time to research and keep track of the market trends between now and when it happens. The best part is that many platforms available today will do this heavy lifting for you! Read our Cryptohopper review to find out why we think it might be worth your money.
Disclaimer: We want to emphasize that this is not financial advice. Cryptocurrencies operate in a volatile market, where values can drastically fluctuate in a blink of an eye. It is imperative to conduct thorough research and seek guidance from a qualified financial advisor before investing.
History and Background
Cryptohopper was founded in 2017 by two Dutch entrepreneurs. The company is headquartered in Amsterdam, Netherlands. Cryptohopper is a crypto trading software that allows users to trade automatically on exchanges such as Binance, Kraken, HTX, and Poloniex. The software is designed to trade on behalf of the user 24/7, even when they are sleeping or away from their computer. Cryptohopper also offers a mobile app for Android and iOS devices. It has been growing in popularity since its launch, with currently more than 600,000 users.
Main Features
At the helm of Cryptohopper's offerings is its prowess in automated trading, an arena where it distinguishes itself. This platform dons the mantle of a seasoned trader, adept at executing buy and sell orders in alignment with pre-established criteria. The brilliance lies in its capacity to render human intervention optional, allowing traders to navigate the tumultuous seas of cryptocurrency markets without perpetually tethering themselves to screens. This autonomy, an emblem of modern convenience, speaks to Cryptohopper's ability to shoulder the trading journey.
Cryptohopper's prowess transcends spatial boundaries through its cloud-based platform, an incarnation that beckons traders to engage irrespective of geographical confines. A connection to the internet is the sole prerequisite for delving into the world of crypto trading, an attribute that augments the platform's accessibility. Bolstering this virtue is its mobile app, a testament to Cryptohopper's commitment to enabling on-the-go trading for the modern trader.
Algorithmic Intelligence emerges as the crown jewel within Cryptohopper's arsenal. The platform's software possesses the acumen to learn and adapt, mirroring the essence of seasoned traders. In a space characterized by market volatility, this feature ushers in a semblance of assurance, affording even novice traders the potential to navigate the tides with aplomb.
Cryptohopper's advanced technical analysis tools infuse an additional layer of sophistication into its ecosystem. Users are armed with candlestick charts, order books, and price action alerts, enabling them to glean insights that inform their trading decisions. The ramifications extend beyond automation; Cryptohopper is invested in facilitating informed decision-making, irrespective of the trading strategy.
A harbinger of communal engagement, Cryptohopper's social trading marketplace is a unique facet. This functionality empowers users to mirror the trades of accomplished traders on the platform, aligning novices with experienced trajectories. In a domain often fraught with complexity, this feature bridges the knowledge gap and ushers in a collaborative trading narrative.
Cryptohopper also embraces the concept of learning through trial and error, offering a paper trading feature. This risk-free environment allows users to familiarize themselves with the platform's mechanics and dynamics before committing their precious resources. The significance of this facet cannot be understated; it's a portal of exploration for those who seek to test their mettle without consequence.
The foundation of any robust trading software lies in its capacity to illuminate the past to shape the future. Cryptohopper achieves this through its backtesting capabilities, affording users the luxury of evaluating their strategies under varying market conditions. This feature stands as a crucible of strategy refinement, epitomizing Cryptohopper's commitment to equipping traders with the tools they need to thrive.
Safety and Security
At the heart of Cryptohopper's allure is its assertion of being the "safest and most secure" conduit for trading cryptocurrencies. Such claims, though bold, are essential in a domain where risks often hinge on the delicate balance between technical robustness and user protection. The platform's assertion of an "advanced security system" sounds promising, but in the cacophony of buzzwords, what truly underpins this assurance?
Diving beneath the surface, a pivotal feature emerges: two-factor authentication (2FA). This represents a crucial linchpin in the platform's security architecture. By imposing an additional layer of authentication, 2FA erects a fortress against unauthorized access. The concept is simple yet profound: the act of logging in or executing trades requires not just a password but also a corroborative confirmation of identity. This means that even if someone happens to possess your password, the veil of 2FA obstructs them from unfettered access to your account. It's a testament to Cryptohopper's pragmatic approach to user security.
However, the narrative extends beyond the realm of authentication; data integrity is a cornerstone of security. Cryptohopper addresses this through the implementation of SSL encryption for all data transfers within its platform. This cryptographic protocol acts as an impervious shroud, rendering personal and financial information inscrutable to any prying eyes that might seek to intercept it during its journey across the internet. In the grand symphony of online security, SSL encryption is the proverbial coat of armor that safeguards against the vulnerabilities of data transmission.
While assertions and claims are a necessary starting point, real trust is often forged through actions. In the context of Cryptohopper, these actions manifest in its steadfast commitment to 24/7 customer support—a lifeline that reflects the platform's dedication to aiding users in navigating both technical challenges and potential security breaches.
Trading Bots
One of the hallmarks of Cryptohopper's array of offerings is its suite of trading bots. While the term "bot" might conjure images of futuristic algorithms that operate beyond human comprehension, Cryptohopper places these tools firmly within the grasp of traders, regardless of their experience level.
The Custom Bot stands as a testament to this empowerment. A canvas upon which traders can sketch their strategies, it allows for the creation of tailored bots that reflect individual trading preferences. This isn't just about automation; it's about making the machine an extension of the trader's intentions, executing trades in line with their vision.
The Signal Bot complements this narrative, offering a bridge to external signals that can inform trading decisions. This symbiotic alliance underscores Cryptohopper's recognition that trading isn't just about algorithms; it's about harnessing insights from the larger trading community.
For those who seek to mirror the success of accomplished traders, the Copy Bot offers a distinct avenue. This mechanism echoes a sentiment prevalent in the modern world—the ability to stand on the shoulders of giants. It's a nod to the notion that innovation thrives in collective wisdom.
Cryptohopper's offerings aren't confined to merely interpreting market movements; they extend to exploiting price disparities across different exchanges. The Arbitrage Bot takes center stage here, capitalizing on the ephemeral opportunities that arise when markets exhibit inconsistencies.
Lastly, the Market-Making Bot embodies a sophisticated strategy. It's a testament to Cryptohopper's ambition to cater not just to traders but to the architects of liquidity. This tool ventures beyond the realm of simple trading; it engages with the fundamental mechanics of market stability.
Technical Indicators
One of the remarkable attributes of Cryptohopper is its comprehensive array of technical indicators. These aren't mere numbers; they're the building blocks of informed decisions. This is a platform that understands that trading isn't an arbitrary endeavor; it's a delicate symphony of patterns and insights. Cryptohopper's embrace of technical indicators echoes this sentiment, equipping traders with the arsenal they need to decode market movements.
The roster includes stalwarts like Moving Averages, the bedrock of trend analysis. This indicator unfurls a tapestry of historical prices, smoothing the journey through market noise and providing a clearer understanding of the prevailing trend.
MACD, or the Moving Average Convergence Divergence, steps into the limelight, highlighting momentum shifts. It's a compass that points to potential turning points, offering traders a glimpse into where the tides might shift.
The RSI, or Relative Strength Index, assumes the mantle of assessing overbought and oversold conditions. It's a reality check in a world often swayed by emotions, offering a counterbalance to herd mentality.
Stochastic Oscillator embodies the art of discerning potential reversals. It's a tool that reads the ebb and flow of price momentum, hinting at opportunities that might not be apparent to the naked eye.
The CCI, or Commodity Channel Index, captures the pulse of market cycles. It's a measure that places market movements in the context of broader trends, allowing traders to gauge whether the tides are aligning with historical patterns.
ATR, or Average True Range, functions as a prism through which traders can view volatility. It's a measure of potential price movements, essential in navigating a landscape that often hinges on swift shifts.
Cryptohopper isn't content with just technical indicators; it extends an invitation to participate in a communal tapestry of trading insights. Social media integration features beckon traders to connect, share, and learn from each other's successes. In a world where collaboration is often the key to thriving, this integration reflects Cryptohopper's commitment to fostering a community where knowledge is a shared currency.
Supported Exchanges
Cryptohopper is an automated crypto trading software that supports major exchanges, including Binance, Kraken, Huobi, and more. You can trade any major cryptocurrency on these exchanges with ease using Cryptohopper.
Usability and Interface
The interface of Cryptohopper, a gateway to the world of automated trading, is a testament to the art of clarity. Clean lines, uncluttered spaces, and intuitive navigation form the bedrock of its design philosophy. This isn't a mere aesthetic choice; it's a deliberate strategy to strip away the layers of convolution that often shroud trading platforms. Cryptohopper's interface is a canvas where the complexities of trading don't form an insurmountable wall; they're deconstructed into accessible elements that beckon users to engage.
Usability, in Cryptohopper's dictionary, isn't a jargon-riddled journey; it's a narrative that speaks the language of ease. Even to those who haven't traversed the realm of trading before, the platform extends an invitation that isn't intimidating. Navigating its corridors, understanding its features, and setting up trading strategies is an endeavor that doesn't require a degree in finance. It's a platform that acknowledges that trading isn't just for the initiated; it's an arena where learning is an integral part of engagement.
The duality of access is a testament to Cryptohopper's commitment to inclusivity. It's a platform that accommodates diverse preferences, offering both a web-based interface and a mobile app. The mobile app's presence across iOS and Android devices underscores Cryptohopper's recognition that trading isn't confined to desks; it's a fluid engagement that can unfold anywhere, anytime.
What sets Cryptohopper apart from the crowd is its embrace of newcomers. In a world where risks are inherent, the platform offers a safety net—a free trial and the option of Paper Trading. This isn't a mere token gesture; it's a commitment to equipping novices with tools to navigate the trading landscape without plunging headfirst into the financial deep end. It's a nod to the reality that understanding and proficiency are forged through experience, and the platform is keen on providing that experience within a risk-free realm.
Pricing and Fees
The basic version of the software is completely free to use. For those looking for more advanced features, there are three paid tiers. The lowest tier costs $19 per month, while the highest costs $99 per month.
While it's certainly not the cheapest option out there, it's worth noting that Cryptohopper does offer a 7-day free trial for those who want to try it before they buy.
Cryptohopper Pros & Cons
Like any other software, there are both pros and cons to using Cryptohopper. Overall, it seems that the pros outweigh the cons, but everyone's needs are different so it's important to weigh both before making a decision.
Cryptohopper: Pros
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It is an easy platform to use, even for those who are not familiar with trading cryptocurrencies.
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The software is automated, so you don't have to be constantly monitoring the markets.
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There are multiple customization options available, so you can tailor the software to fit your individual needs.
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There is a free trial period so you can try out the software before deciding whether or not to commit to it.
Cryptohopper: Cons
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The monthly fee
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The software does not guarantee profits - like any form of trading, there is always a risk of loss involved.
Cryptohopper Review: Verdict
If you're looking for the best automated crypto trading software, Cryptohopper is a great option. It's easy to use and has a wide range of features, making it ideal for both beginner and experienced traders. It's also one of the most affordable options on the market, with plans starting at just $19 per month.
If you'd like to start using Cryptohopper completely free, simply follow the link below!
Nuno Sequeira
As a filmmaker with extensive experience across multiple areas of content creation, my work has been featured internationally, and I’ve had the honor of serving as both a speaker and jury member at numerous prestigious events. However, in recent years, I’ve grown increasingly disillusioned with the direction of the art world, prompting a shift in my focus toward disciplines I believe will be pivotal for the future: cybersecurity, self-education, web design, and investing. These interests have culminated in the launch of RushRadar, a platform dedicated to exploring these vital topics and empowering others to navigate the evolving digital landscape.