“Copy traders, manage all your exchange accounts, use market-making and exchange/market arbitrage and simulate or backtest your trading.”
This is the statement that greets you when you visit the official CryptoHopper website.
With “fast automated trading” and portfolio management for over 100 cryptocurrencies, it is clear to see why this platform is escalating in popularity. It is very lucrative and has a daily return of up to 20%. Its fully automated design makes it a suitable tool for beginners in the field of crypto. With just a deposit of $250, you can start earning big money online with the use of the app.
But what is CryptoHopper and how does it work? This article will dive into that.
How it came to be
CryptoHopper is the brainchild of two brothers: Ruud and Pim Feltkamp. The former is a brilliant web developer. The latter was once a soap opera actor who recently put all his focus on becoming a successful day trader. After hearing about the boundless opportunities that cryptocurrency brings, the two made the decision to jump on the bandwagon.
At one point, neither didn’t have the funds to properly invest. From this, they had a thought: “What if there was a way to let a bot trade for you?” For that matter, what if it works 24/7, trades as many coins as you want, and monitors the market?
Over time, this concept would become a reality. From the construction of a prototype on a raspberry pi with a 3D case came the creation of CryptoHopper.
The innovation’s birth was the result of the brothers merging their ideas, skills, and experiences. Together, they were able to create a bot that trades automatically for the user and operates 24/7. Moreover, it effectively trades a wide variety of coins; Bitcoin, Ethereum, and Litecoin, among many others. At the same time, it’s compatible with a number of cryptocurrency exchanges by way of an Application Programming Interface (API).
In a matter of weeks, people were asking if they could use the bot. What came into the world as a personal tool was suddenly garnering high demand. The community was growing, so the Feltkamp brothers came to the conclusion that they could help a lot of people. In return, these people offered input on what needs improvements. The collaborative effort led to the popular platform we know today.
So, what is it?
CryptoHopper is a trading robot that allows traders to capitalize on trading opportunities occurring within the crypto markets. The basic software of this bot enables trading of both the automatic and semi-automatic variety. In the case of automatic trading, the app conducts investment research and places trades automatically. The CryptoHopper app employs the use of high-frequency strategies in order to scan the markets for tradable news. Moreover, it allows for the app to place trades.
When it comes to semi-automatic trading, this software supposedly copies strategies of the best crypto traders. Afterward, they pass them on to users as recommendations. A lot of people refer to this approach as ‘copy trading’ and it is quite popular in forex and stock trading. Also going by the name of ‘mirror trading’, this strategy allows investors to copy the trades of more successful forex investors. They can implement the same trades – almost in real-time – into their own accounts.
With this particular approach, users have a specific responsibility. They determine which trading strategies they should apply in their accounts.
As is the case with most pre-programmed software, there is a requirement for some human involvement for configuration. However, it is perfectly capable of trading on your behalf. The CryptoHopper platform works on a subscription basis as well. Furthermore, it permits traders to spend considerably less time at a trading terminal.
CryptoHopper is not the only one of its kind. In fact, there are a number of cryptocurrency trading bots currently available, including 3commas. What ultimately sets CryptoHopper apart is its goal. It aims to empower traders by providing a service that is easy-to-use and consists of an array of features. It allows users to effortlessly trade multiple cryptocurrencies all while removing any and all human weaknesses from their trading process.
How it works
As mentioned before, CryptoHopper provides its users with both automatic and semi-automatic crypto trading. The platform provides high-quality trading signals to all participating traders. The source of these signals are from the best of crypto traders. In addition, they come as recommendations for users, giving them ideas on what to apply in their accounts.
There is something important to remember when it comes to the trading margin. CryptoHopper trades on margin with a majority of its brokers providing leverage of up to 1:500. High leverage like this means that you are able to place trades that exceed what your trading capital is. Let’s use the leverage of 1:500 for example. Leverage like this means that you can place a trade that’s 500 times bigger than whatever your capital is. As a result, CryptoHopper will make the claim that your profits will eventually multiply to that level.
In the case of losses, the exact same thing happens. This essentially means that there is a considerably high chance of your trading account dipping into the negative. When you are engaging in trading on margin, you must never deposit an amount you cannot afford to lose.
CryptoHopper offers a variety of features for their users that makes it as popular a platform as it is. One the website, you will find a drop-down list that displays:
- Automatic Trading
- Exchange Arbitrage
- Market Making Bot
- Mirror trading
- Trailing Stops
- Paper trading
- Strategy Designer
Beyond this list, the five most prominent features that the platform offers are the following.
1 – Functionality
CryptoHopper operates primarily as a web-based solution. Its user interface is intuitive, as well as incredibly simple to use. What’s more, it offers a wide range of different functions. Users have the ability to construct the bot to trade automatically and can do so 24/7. It makes full use of algorithmic and social trading alike. The trading strategies on the platform largely derive from various technical indicators. Alternatively, by precisely following the actions of experts pertaining to third-party trading.
2 – Impressive technology
The semi-automatic manner of trading takes place via API integration. It also includes a wide variety of cryptocurrency exchanges that users can select from. One can easily utilize the service on any device that connects to the Internet. Such devices include the likes of a desktop, laptop, tablet, or mobile phone. So long as the device has an Internet connection, you can use CryptoHopper.
3 – A wide and diverse range of tools
The CryptoHopper platform provides a solid range of trading tools. It also incorporates various features like the ones listed above. These, of course, include a bot backtesting tool, templates that are configurable and saveable, and trailing stops. Even better is there are technical indicators that you can customize to your liking. Users can also rely on numerous indicators such as RSI, Stoch, Bollinger Bands, and MACD.
4 – The integration of various exchanges
At this point in time, CryptoHopper is compatible with nine different exchanges. Below are the nine exchanges that you can use in relation to CryptoHopper:
- Coinbase Pro
This is an impressive range, however, some may understandably see this as a little restrictive in terms of options. Fear not, though, because support for other exchanges is soon to come. Other exchanges that we expect to see on this platform are CEX.IO, BitFlyer, Bitstamp, Cobinhood, and HitBTC.
5 – Customer support
The backbone of any successful platform is customer support, and CryptoHopper provides users with that. The platform incorporates a support team that is readily available to deal with any issues that you may encounter. Users are able to contact the team by simply submitting a support ticket in the Support Section. There is an alternative method in which you can contact them via their social media accounts. They are available on Twitter, Telegram, and Facebook.
On top of all of this, the website contains a number of FAQs in the Support Section. It also possesses a large number of tutorials that can help users to navigate the platform. As if all of this wasn’t enough, the team went the extra mile in creating the CryptoHopper Academy video library. There is no shortage of educational material and there are plenty of ways to reach customer support.
If any of what has been said interests you, then chances are good that you are planning on making an account. The process of creating one on this platform is actually quite easy. If you go onto the main page of the website, you will find a big “Try It Now” button. Click on that to begin.
Step #1 – Creating an account
The first thing you need to do to create an account is entered in your name and email address. In addition, you will need to create a username and password. To confirm your email account, you need to click the activation link in the email you will immediately receive. Doing so will grant you access to the dashboard.
Step #2 – Setting up your account
At this point, you can simply follow the wizard. It will provide assistance for quickly configuring your hopper. All you need to do is choose an exchange and construct the bot with your chosen exchange’s API keys. Moreover, you need to set up basic hopper configurations. It’s a straightforward process and there are links to tutorials on each step.
Now, you can start using your hopper. After using the wizard and setting up your account, you can access an array of features from the dashboard. You are able to subscribe to various signals, construct templates, and start to backtest your bot. Additionally, you can set up two-factor authentication on your account.
Step #3 – Sign up to “signallers” on the marketplace
CryptoHopper permits users to sign up to integrated professional external signals. The providers of the signaller service are expert traders looking for positive signs of upward movement. There are available subscriptions that are both free and paid. What’s more, you can construct bots to follow signallers with nothing more than a few clicks.
Signallers’ performance reports are easily accessible and you can track profitability with little effort. In addition, they make great use of both cloud computing and machine learning algorithms. This way, they can consistently monitor numerous technical indicators that exist across a wide and diverse range of digital currencies.
It is possible to combine buy signals and technical analysis indicators simultaneously. Moreover, you can also establish stop limits and trailing stops.
With your CryptoHopper dashboard, you will get access to the official marketplace. This is a feature that a majority of trading platforms are including into their system of operation. The marketplace lets you acquire trading strategies for your bots; some are free, others require payment. This is very ideal for novices because it basically allows you to “plug and play” your strategy that expert traders create. Furthermore, it allows you to test it out on your account.
If you have substantial experience with creating trading bots, this could also be a source of income. You can create and sell your own templates on the marketplace and garner a profit.
Is it safe?
Such as it is with all trading bots, there is no requirement for users to transfer money to an account that bot developers control. This is because the bots typically work through an API that allows them to conduct trades on linked exchanges. It’s imperative in order to provide your API keys which your favourite exchanges generate. These keys will give the bot a certain amount of access to your account for trading purposes.
What’s more, the bots do not obtain withdrawal rights. If there is ever a hack or data breach, malicious actors will unlikely be able to access your funds. The team behind CryptoHopper would also successfully form working relationships with several of the industry’s leading exchanges. And, as you may recall, users can set up two-factor authentication to add an additional layer of security for their accounts.