Cryptohopper Trading Bot: The Most Updated Review
Has anyone told you about Cryptohopper trade bot? Do you want to take your cryptocurrency trading to another level? Does the program deliver what it promises and does it provide profits for its customers? This Cryptohopper review is set to deliver an in-depth examination of what the trading bot is about, how it operates, its features, its advantages as well as the supposed downsides.
What Is Cryptohopper Trading Bot?
Want to know how crypto bots work? Read on and I will tell you.
First off, this trading bot is one of the best trade bots out there. It is made basically to help short term traders automate their already successful trading strategy and to simplify your trading process and in turn maximize your profit. With a robot making your trades for you, you can easily go about your daily activities without any worries about your trading because trading bots will do that for you. You cannot stay up the whole day and night because the cryptocurrency market is live all through the hours of the day. Traders are now leaning towards trade bots as a means of making passive income even during their nap times. Basically, every trader whether you’re just starting out or are already an experienced trader can benefit from it. Using the Cryptohopper, you can go on automation and earn money on your favorite exchange by automatically buying and selling different cryptocurrencies according to your wish.
Advantages&Disadvantages Of Using
Here are some major advantages of Cryptohopper, which define it as one of the best trading bots in use currently are exhaustively discussed below:
1. Algorithmic and Social Trading - This is the core of the exchanging bot. Utilizing the two techniques, the dealers can configure the exchanges and the procedures that follow utilizing the different technical indicators that can be incorporated with the bot. The merchants likewise have a choice to pursue the calls and forecasts that are given by outsider exchanging specialists through the crypto signals using the social trading expert of this bot.
2. Automatic Trading - Unlike many bots that swarm the ecosystem, it trades throughout the day on the basis of a detailed analysis that is coded into its algorithm. You don't need to stress over things like frenzy deals and voracious purchases since the algorithm of the bot will not allow for such exchanges to occur. The bot works more effectively than a human broker could; working nonstop all days of the year.
3. Strategy Customization - it enables you to fabricate your very own techniques and increase your comfort in trading. There are many technical indicators within the bot that can be tweaked in order to trade the way that you like it. Indeed, even with this customization, Cryptohopper stays perhaps the most effortless bot to work and individual systems can be imparted to other people so they can duplicate your configurations of the technical indicators.
4. Following Signals - Usually when a normal person trades, they follow the predictions and analysis that are handed out by experts on Telegram groups. Cryptohopper now allows its users to directly connect these groups with the bot and the signals are picked up automatically by the bot and the profits are delivered to the user.
5. Backtesting - Backtesting is a method to check the strategies by running them against the numbers in the past and checking the result. This helps to form trading strategies that will most definitely produce results. If you are not happy with the results, you can change your strategy completely or tweak it a bit to get the results that you want.
6. Trailing Stops - The most important aspect of trading is to make profits after making an investment. When you buy a coin, you are not looking to keep it for sentimental value. You want your investment to generate profits like any other asset. This profit can come within seconds or minutes or sometimes even days. The Trailing Stops feature helps you set the limits where to sell the coin and not make any hasty decisions while trading the coin yourself.
7. Exchanges - When dealing with an online trading bot, you need to be sure that the bot will have support for the exchanges where you want to perform the trades. Having the exchanges connected to the trading bot makes the trades fast and efficient, without the hassle of going through multiple channels.
Since it is a matter of finance, it also has a number of pitfalls and loopholes which should be paid attention to. These shortcomings include:
1. Pricing: For a bot that necessarily provides technical indicators and integrating signals in automation, the pricing for the bot is quite far-fetched. There is a free trial available but the features that are unlocked on the package are almost limited. To get the full potential of the crypto bot, you are obliged to pay $99 every month. On paper, this number may seem less considering that promises are made for high returns. On another note, the reviews of the people who have used the bot suggest otherwise. The packages for the Cryptohopper trading bot start from $19 and rises up to the $99 package. There is an intermediate package also, with a $49 price tag. All these subscriptions are renewed monthly.
2. Creator Information :On the official website, there is no information regarding the creators of the bot. There is an elaborate story given on the website that cites the beginning of the process but there are no credentials, which is totally Scary. This avoids accountability and is a major setback since many users are not able to trust the bot.
3. Testimonials: There are many testimonials that are available about the trade bot. However, none of them seem to be written by a true user. From the perspective of a third person, the reviews seem to be written by a group of people who merely want to promote the bot. There are a few other Cryptohopper reviews which do seem genuine. The reviews are not positive and generally talk about how the website promised all the features but the traders are still unable to generate high profits as advertised.
Why Should Traders Use This Crypto Bot?
Many have made profits, and avoided heavy losses using Cryptohopper, and claim that a better bot is hard to find. Don't you wonder why? If you do, some major features, which define it as one of the best trading bots in use currently are exhaustively discussed below:
Beginner Friendly: It attends to the needs of newcomers, who venture into the cryptocurrency trading sphere. By this, I mean it has an exclusive beginner platform, that handles all the analysis and technicalities, till the users are comfortable and vast enough to carry on with the trading on their own. In addition, Cryptohopper offers training arenas in the form of paper trading and backtesting, making sure that traders have an opportunity to test out their new ideas and strategies, without being penalized by losses. This gives users enough time to familiarize themselves with the market and its conditions.
Cloud Based: Having data and applications offline is becoming a thing of the past. The future is all based in the cloud, helping users access data without any requirement of the physical disc. Cryptohopper is based entirely on the cloud, meaning that there is no risk of losing data due to an accidental disc wipe. Also, this helps you gain access when you are on the road. All you require is a stable internet connection the first time when you set up this bot. After that, it is all a matter of accessing it when you please.
Security: Since Security is an important factor when choosing a trading bot, Cryptohopper offers a complete reliable security. For instance, in case of a hack, as the Hopper cannot access funds, hackers cannot access the funds too. For extra security, it has an option to activate two factor authentication (2FA). The website itself is protected using Cloudflare, and its web app firewall, as well as protection against DDOS. The cloud, being hosted on Amazon Web Services, uses their serves, and all passwords as well as API keys are encrypted.
Optimization: Due to a large number of technical indicators, 130+ in number, there is a high change for optimized strategies and higher profits. Thus, there is an option to use third-party insights, which is therefore, a sure shot way to increase the bot’s standards as its users make use of expert advice which only prove profitable to them.
Cryptohopper Support: This Cryptohopper review won’t be complete without mentioning the great support that the bot's team provides to its traders. It has good Knowledge Base that extensively covers all the topics. It also has extensive Documentation library with all detailed technical information on everything that the platform has to offer. There is a forum for the crypto trading community and dedicated YouTube channel where investors can learn the basics of trading and how to use this crypto bot.
Does Cryptohopper Work For Beginners?
If you are new to trading with Cryptohopper bot, you have absolutely nothing to be worried about. The platform has been designed to be easy to use, and doesn’t require any professional programming experience or advanced technical knowledge or skills. As one of the best cryptocurrency trading platforms, it also allows for comprehensive backtesting, and beginners can easily check if their configurations are working accurately by playing around with and testing their setup.
For example, you can see how much you would have earned in the past and adjust your bots to gain a greater understanding of just how everything works while still learning the ropes. Simply put, it is a platform that allows you to get a feel for what you are up against in a relatively safe and welcoming environment before putting money on the table. There are active Discord and Telegram groups, in addition to a special forum for members that is available in various languages like English, French, Spanish, Dutch, and Portuguese. As a result, new users are able to converse with and learn from more experienced users from around the world, and continue to learn around the clock.
Which Subscription Plans Are Available?
We know you probably have never attempted a bot and you're most likely skeptical about it. So how about we not beat around the shrub. You most likely aren't going to attempt a trading bot now if it will cost you a fortune. Now, we cannot say for sure if there are discount codes but we have great news for you. One of the things we like most about Cryptohopper is that it offers its customers a 7-days free trial. Users can simply sign up and begin using the service without having to submit any payment details. When the trial month ends, the Hopper is automatically disabled, and users can then opt to purchase a full subscription. All the subscription plans are available right now on our platform. For more info you can visit the website.
Taken overall, this bot up ranks high up the echelon of crypto bots. It's special features, beginner friendliness and auto trading ability is a clear indication that the developer(s) have the interest of its users in mind. I hope this article has provided you with the answers you’ve been yearning for. For more Cryptohopper reviews, visit our website.