Make trading more efficient
with this neat little tool
No matter how much of an experienced trader you are, mistakes can often happen when you make certain decisions under pressure, which usually leads you to losing money. Although experienced traders are naturally better at making fast decisions and developing good trading strategies, they can’t get away from a basic human trait: emotions.
Being a cold headed trader can be tough.
Fortunately, there are ways to make this easier with trading bots such as Cryptohopper, so stick around for this review and find out why you should be using this tool to optimize your strategy.
What can I do with it?
If you’re already into trading you’ve probably done your research, but in case you don’t know. Trading bots are essentially an automated system that can create and submit trade orders. These orders are generated based on certain parameters set based on the trading strategy you’re using. Trading bots are actually commonly used in the stock market. They’re known as Automated Trading Systems (ATS) over there, but they’re the same thing for different markets.
So, now that you know what a trading bot generally does, we can tell you what Cryptohopper offers that differentiates it from the rest:
- It’s a completely cloud based solution that is active 24/7.
- It integrates external signals, which allow the Hopper to automatically buy coins they provide signals for.
- It allows you to backtest your configuration to see how it would’ve performed during a specific timestamp.
Supports linking to the most popular exchanges, which includes:
Other features of the Cryptohopper are what you’d come to expect from a trading bot, such as:
- Trailing Stop-Loss.
- Detailed and customizable Technical Analysis.
- Detailed stats on your trade history, and charts for each currency you’re trading with.
What does the community think of it?
Looking around the web you’ll find that the community likes Cryptohopper quite a lot, as you’ll see it being recommended as a great tool that has a lot to offer to both new and experienced users. This is because it offers everything a trading bot should, while keeping it quite accessible thanks to a nice and intuitive GUI.
Additionally, their customer support is also praised quite a bit as they tend to any doubts or issues in a fast and efficient manner.
Being the internet however, you’ll still find some negative opinions towards Cryptohopper, but these mainly come from the fact that some users don’t fully understand the point of a trading bot. A tool like this is meant to optimize your trading strategy to improve your profits, meaning it requires a certain level of management and knowledge to set it up just right to fit your needs. If you’re expecting a trading bot to automate every aspect of trading while magically increasing your profits, you’ll most likely end up losing money.
Cryptohopper works as a monthly subscription service that has three different packages available. Prices for these go as following:
- A free one month trial for the “Adventure Hopper” package, with a price of £14 per month after the trial ends.
- A £36 a month “Advanced Hopper” package.
- A £73 a month “Master Hopper” package.
The main differences between these packages come in the form of the ability to trade and manage higher volumes of coins.
Alternatively, if you’re handling volumes larger than what is shown in these packages, you can contact the developers and they’ll provide you with a tailored solution.
Pros & Cons
- Intuitive, user friendly interface that’s easy to use.
2. Supports most of the relevant exchanges.
3. Supports more than 75 coins.
4. Reasonably priced.
5. Free 1 month trial.
6. It’s a cloud based tool, meaning it can be operating even if your PC is turned off.
7. Customer support is excellent
8. Their site has a FAQ and several videos that teach you how to use the tool.le
- None so far.
You might be surprised at the fact that there are no cons, but it’s not that hard to believe when you consider that Cryptohopper is a fairly straightforward tool made for a very specific purpose, and it pulls it off exceptionally well.
Summing things up
If you take the time to learn how to use it (which is luckily easier than it seems), Cryptohopper can prove to be a valuable asset to improve certain aspects of your trading strategy. So if you have some free time, check out their product here and if you’re interested, get your free trial today.
Cryptohopper was created by a pair of brothers that were fascinated by the cryptocurrency phenomenon. One of them was actually a day trader, and the other one a web developer. The web developer actually wanted to start investing in it but lacked funding, which got him thinking of a way to automate trading for you, while constantly monitoring the market.
The other brother, being experienced in day trading, thought that there could be a way to optimize your trading strategy or even automate certain aspects of it. This resulted in both brothers teaming up to improve a Cryptohopper prototype that the web developer brother had created to create the perfect trading companion for you.
Thanks to the input from the brother experienced in day trading, the end result of this was a cloud based app that allows you to customize every aspect of your trading operation and even back test it all.