The web’s most detailed Cryptohopper review: World-class automated cryptocurrency trading software on desktop and mobile app. Cryptohopper is a well-recognized platform for sharing trading strategies, copying profitable traders, using market-making bots, and arbitrage trade across crypto exchanges. In this Cryptohopper review, we showcase this platform from a daytrader’s perspective.
In this section of our Cryptohopper review we highlight 6 special features that deserves extra attention.
Cryptohopper is the most reputable and most used automated trading platform for cryptocurrencies and was founded in 2017 by the two brothers Ruud and Pim Feltkamp from the Netherlands. The operating company is called Cryptohopper B.V and has its main office registered at Johan van Hasseltweg, Amsterdam, Noord-Holland.
The Cryptohopper platform truly stands out among similar software and is designed to be a helpful tool for crypto daytraders to improve results, reduce emotional impacts, use signals, copy traders, and share strategies in an easy format. Connecting other major exchanges to Cryptohopper was quickly introduced and you can now automate your day trading strategies by using your accounts of exchanges such as EXMO, Binance.US, Kraken, Bitvavo, and Crypto.com.
Why use Cryptohopper
Cryptohopper is a pure day trading platform for traders who are looking to level up their strategies and results by copying other profitable traders or choosing among profitable strategies created by professionals. The main tool on the platform is the complete automation of your trading which lets you make money by doing nothing. You can use market-making, exchange market arbitrage, backtest your strategies, and interact with other traders on their social trading platform.
The simulation tool is also a very effective way for traders to engage with their new strategies and try them out in a completely risk-free environment. Use the paper trading tool to simulate your bots without any fear of losing money until you find the best bot possible and later apply it to the live market.
Cryptohopper has also launched an Algorithm Intelligence (AI) feature that automatically backtests your strategies and chooses the best strategy for the current market environment. This saves you a lot of time and removes the emotional aspect from your trading that has previously held you back from reaching better results.
Trading on Cryptohopper
While it’s preferred to automated day trading strategies, choosing profitable bots, or copy other traders, it is possible to manually trade on Crytptohopper. From the dashboard, you can access the advanced charting interface where you can enter the market with limit and market orders.
Market maker traders are going to enjoy Cryptohopper and thanks to the Market maker bot that works by placing limit orders just on the edge of the order book and profits from the spread in the marketplace, all of these orders are executed automatically.
The arbitrage bot is another way to profit from the different prices on exchanges during volatile periods and here you can automatically capitalize on the BTC price when it’s falling or rising fast. Simply subscribe to Cryptohopper and get access to all these bots!
The trading fees on Cryptohopper depend on what exchange you are connected to, for example, if you are connected to Binance your trading fee will be 0.10%.
Payment methods and limits
You don’t need to use a credit card to start trading on Cryptohopper since you will use your cryptocurrencies that are stored on other major exchanges. But, if you wish you purchase the premium packages you can deposit money with Visa, Mastercard, American Express, DISCOVER, POLi, Bank Transfer, iDEAL, Sofort, Giropay, Bancontact, KBC/CBC, EPS, and Przelewy24.
It is not possible to deposit funds to the Cryptohopper platform, all your funds will be accessed on the other major exchange you are using, such as Binance, Kraken, and KuCoin.
Things we don’t like
Normally on bigger platforms there live chat is a problem due to the number of clients trying to reach customer support. However, on Cryptohopper this is not a problem and they have earned the Professional Support badge for having a fast live chat.
As a platform for trading automation and strategy creating, we consider Cryptohopper to be very complete. We recommend all our daytraders to try it out!
About the Special Features on Cryptohopper
Cryptohopper is an exchange packed with lots of special features that will catch most crypto trader’s attention. It offers you the easiest way to practice trading without putting your real money at risk with paper trading and with this cool special feature will you be able to test out new trading strategies, get comfortable with your new platform, learn from some errors in the bots and build confidence in your trades without stress.
The fact that Cryptohopper exists as an app makes things a lot more interesting because choosing the right algorithm to trade is one thing but sometimes the market moves fast and you want to swap crypto bot to something more suitable for a falling market where a short-selling algorithm would be the best choice. Other times you might want to set up a market-making bot if the market is more range-bound to profit from the overlap in spreads. This and much more is offered on Cryptohopper and I suggest that you spend some time reading through some of the most important special features below to get familiar with what’s coming.
In the early 2000s, mirror trading entered the market, this feature allows traders to copy other more experienced investors. This is a very helpful tool for new investors to avoid making emotion-based decisions and to simply let someone with more knowledge do the hard work for you. mirror trading is based on trading actions from multiple traders that might help you spread out the risk. Though it is extremely important to state the fact that in the same way that mirror trading can help you to make profits from other traders, it can also go in the opposite way that you copy someone’s loss, winnings are never guaranteed.
One of the most popular special features on Cryptohopper is the trailing stop-loss. This tool will help you to lock in profits while the trade is still open. Your trailing stop-loss can be a specific number or percentage that you are willing to lose before the trailing stop-loss triggers. The benefit of this feature is that you can never lose more than you have committed to losing from the beginning, but if the market goes in the opposite direction in your favor you will be able to collect more profit.
Dollar Cost Averaging (DCA)
When using a dollar cost averaging model you are telling the algorithm to buy a certain amount of cryptocurrencies at a pre-set interval. For example, one way of using the Cryptohopper dollar cost averaging bot would be to let it buy $500 worth of Ethereum once per week. Simply add your criteria to the bot and it will purchase the right amount of coins at your pre-set dates. Or you can choose to buy $50 worth of Ethereum once every two days and then the bot will execute a purchase every two days. This is a very effective tool to remove some emotions from your investing while staying in the game.
The Cryptohopper exchange arbitrage bot is a tool you can use to capitalize from price differences on two exchanges. For example, if the price of Bitcoin is $45,000 on Binance and $45,150 on KuCoin you can tell the algorithm to buy Bitcoin on Binance, transfer it to KuCoin and sell it there. In this case, you would have made a $150 profit minus the fees. I recommend using the Cryptohopper exchange arbitrage bot when the market has been through some volatility, this is the best time to find price differences on the exchanges.
With the strategy designer on Cryptohopper, you can create several different strategies for all kinds of market scenarios. You can create bullish or bearish strategies that work for both up and down trending markets by selecting which technical indicator you want to implement. The strategy designer can also be used to backtest your current strategies to see how they would perform with historical data. This gives you a good indication of whether it is better suited for a choppy or smooth market.
On the marketplace, you can browse signals, strategies, and templates that are created by other Cryptohopper traders. All templates are filtered by the most popular, newest, and best rated which makes it easy for you to choose a style depending on what you are looking for. You can also see how many other users have purchased a certain template or strategy by looking at the number of followers it has. The marketplace is a great starting place if you have never created your strategy before and would like to start trading right away.
Purchase already profitable trading signals by browsing the best weekly performers with high profitability rates. There are different signals on Cryptohopper for different scenarios, for example, if the market is dipping, breakout out to new highs, or if the volume increases suddenly. Use signals to maximize your day trading efforts without staring blindly at the screen all day long, let the computes work for you!
There are different packages you can subscribe for on Cryptohopper and below is a summary of the pricing:
Pioneer – Free package
Explorer – Starter package 19$/month.
Adventurer – Trader plus package 49$month
Hero – Pro trader package 99$/month
Algorithm Intelligence (AI)
This tool is very interesting because Cryptohopper is combining AI and crypto trading to let you automatically backtest your strategies and select the best-performing strategy. Not only can you add different algorithms, but the AI will also detect if the market is trending on stagnant based on your pre-written algorithms. This is extremely useful since you will get notified by the AI how the market is behaving without making an analysis yourself. Try it out and see how the algorithm finds buy and sell signals that you would never be able to detect.
The statistics page on Cryptohopper is a huge plus for all day traders. From here you can scan your average holding times, most profitable coins, allocation of funds, most traded coins, profits based on buy and sell triggers, daily profits, and all your buy/sell orders. By using these statistics you can optimize your portfolio to the max and choose the best coin, best holding time, and direction for your trading. Take full control over your account and positions!
Is Cryptohopper regulated?
No, Cryptohopper is not regulated by any financial regulator.
Is Cryptohopper a legit exchange?
Yes, this platform has quickly gained a super reputation for being legitimate on the cryptocurrency scene and is continuously improving on its software and customer relations.
Frequently asked questions
Read the most frequently asked questions about Cryptohopper. Find answers without searching the web.
Cryptohopper has 4 different member options. Pioneer - Free package Explorer - Starter package 19$/month. Adventurer - Trader plus package 49$month Hero - Pro trader package 99$/month.
Cryptohopper has its headquarter located at Johan van Hasseltweg 18, 1022 WV Amsterdam, Netherlands.
Cryptohopper is owned and operated by Cryptohopper B.V.
Yes, the Cryptohopper exchange has an app that is available from both Google Play and App store.
Yes, bot trading is fully legal in both the cryptocurrency and stock market (although only certain brokers allow it).
This battle is difficult to digest and it takes a real daytrader to separate the functions of each platform. The advantage we see on Cryptohopper is the marketplace where templates and strategies can be shared.
There are thousands of strategies to choose from and to be completely honest, the best strategy changes constantly due to the change in the market environment. To be fully up to date with the best strategies I suggest that you subscribe to the platform and follow the marketplace closely.
A template is sort of a bot or hopper, that has all preferences pre-set and all you need to do is download the template and choose the amount and start trading.
The exchange arbitrage lets you profit from different prices on different exchanges. For example, if the BTC price on Binance is $44,000 and the BTC price on KuCoin is $44,200 you can buy BTC on Binance, transfer it to KuCoin, and make a profit of $200 minus the fees. This is sort of a risk-free trade but it has to be executed well to work out.
Here are all exchanges connected to Cryptohopper: EXMO, Bitvavo, Binance, HitBTC, Bitpanda PRO, OKEX, Binance.US, Coinase PRO, Bitfinex, Kraken, Crypto.com, Huobi, KuCoin, Bittrex, and Poloniex.