In this Cryptohopper review, we will dig deeper into the workings, the pricing and the team behind the new and popular trading bot Cryptohopper. Being one of our top picks when it comes to trading bots we felt the need to provide a bit more depth on this beast.
Let’s jump straight into it!
The Need for Cryptohopper
Not everyone is heavily equipped to understand the investment sector and may falter if they choose to go in without any prior experience. Investments are after all a volatile business, and there is absolutely no certainty to any of your ventures. While you may be experiencing top of the line profits today, you may as well have lost all your money tomorrow. Businesses of such fickle nature can’t be trusted upon purely on your shoulders. You do rather need a bit of a helping hand, and a guiding force to see you through.
Now while you may consult an investment expert to help you with the same, but even they are not a hundred percent correct, and most of them end up charging you exorbitant amounts of money. But what if we were to tell you that there is a way through which you could get to simply relax while someone else does all the planning and subsequent investing for you? What if we were to tell you that you need to be aware of the market complexities and ups and downs, for someone else is quite efficiently taking care of all of that for you? And what if we were to finally tell you that this someone was actually not even human? What this basically means is that any chances there might have been of human error are completely eliminated. Yes, you read that right. You can actually hire bots which will do all of the investment scheming and actual investing for you, while all you need to do is sit back and relax.
What is Cryptohopper?
Cryptohopper is mostly defined as an automated bot program designed to carry out all your investment actions. It is automated because it requires absolutely minimum human interference and happens to be quite self-sufficient. Cryptohopper will effectively manage your trades for you, and since it is a bot, all it requires is a decent algorithm to work on. As soon as the algorithm is fed into the system, the bit starts working and works exactly as per your desired plan. To put it in simple words, all you need to do is sign up on the Cryptohopper platform, and further direct it towards whatever cryptocurrency exchange you like to work on, and your job is done. The bot will then begin its work on the exchange and make sure you get the best returns on all your investments. However, before you let the bot run loose, you must first decide upon a trading strategy. This strategy constitutes the algorithm that is fed into the bot. Once that is done, the bot knows exactly what to do and how to do it.
One of the greatest features of Cryptohopper is that you need absolutely no technical expertise or programming knowledge in order to get this bot to work. All you need is a clear perspective on your trading strategy and the campaign you are going to follow. Once the bot understands all of that, your job is done. It has been designed to be inherently user-friendly and pretty easy to use, with specialized efforts being put into it by the company to make sure the interface is as simple as your everyday program where you simply have to click on one of the many choices on your screen.
The Cryptohopper Review
The working of Cryptohopper, as specified earlier is pretty simple. All you need to do is sign into your account. Then, you will come face to face with a pretty intuitive and well-designed dashboard. Here, you get to choose your trading campaign and make any necessary changes in your profile if you wish to. The dashboard is good for a lot of other things as well, including accessing reports on how well a particular currency is performing. These comprehensive reports are prepared by the software itself and prove to be a great insight into what is working and what is not. They let you get a bird’s eye view of all the different currencies you might be involved with, and choose the ones you might want to let go of. Other than that, there is also specialized advice for your account on the dashboard from experienced and professional traders in order to further help you on your journey towards building a decent trading profile. Additionally, you get to check all of the latest and historical trends that certain coins and cryptocurrencies might have gone through. For example, you can check the price history of Bitcoins, if you want, and further even look into your own personal account and get a grip of your trading history to weed out potential mistakes or pitfalls.
But the many uses of the dashboard don’t end here, for it can be used to effectively feed a lot of useful information into the bot such as the amount of investment, strategies planned and target profits.
As far as setting up is concerned, simply create an account on their platform, pay the required fee, let the bot establish a link to your bank account and you are all set.
If these intuitive features aren’t enough, Cryptohopper actually offers more. There is a pretty awesome dedicated education section, which is exactly as it sounds since it exists for the sole purpose of educating an average newcomer about all the coolest tricks, tips and strategies one must follow to achieve success while trading for cryptocurrencies. There are even interactive videos which come packed with so much knowledge and user-friendly instructions. Also, there is a dedicated community section, which is nothing but a forums panel where you get to interact and discuss stuff with your fellow traders. You get the opportunity to ask questions, clear doubts and even share tips of your own, thus helping you greatly in becoming one with the community and establishing a healthy involvement in the community’s discussions.
As far as the prescribed exchange services are concerned, currently the platform offers support for a diverse range of exchanges such as Kraken, Bittrex, GDAX, and Poloniex. However, the list is not even nearly complete, for Cryptohopper as a service keeps on expanding and does plan to add on many more such services in the future.
To contribute towards the most hassle-free and painless experience a customer can go through, Cryptohopper comes with a unique range of dynamic features which make work a breeze for the average user.
External signal integration is the first of these features. While the name sounds complicated, it is actually something pretty simple, but at the same time highly useful in principle. Suppose there has been a major shift in the trade market for some reason. Obviously, the said change is going to affect your personal trading investments as well. In order to adjust your trading account as per such changes such that they lead to the minimum amount of losses, or can help you harness the maximum amount of profits, one must enable external signal integration. These signals basically function as alerts for the traders themselves and prompt them to carry out certain actions such buying or selling of a particular commodity. All of these signals are generated on the basis of certain mathematical algorithms, or some major change or events or even a recent announcement with the potential to leave a lasting impact on business. Also, you need not worry about control, for at any given time, you can always yank the steering wheel into your hands and make any changes you want.
Next, we need to mention the basic but feature-rich design. As detailed earlier, the platform has been created to work with even the most novice users and has been designed as simple but user-friendly. No matter what the experience level you belong to, Cryptohopper has something in store for you.
The community is another great gem of a feature that has been incorporated into the Cryptohopper system. It allows you to not just hold discussions, but more importantly, lets you interact with your fellow traders and get to familiarize yourself with the community at large in order to better seek guidance from the experienced ones.
As with any new service, the one aspect of this product that you must be desperate to get to is the price plan. Even here, Cryptohopper is willing to go all out in making the customer happy and keeping them satisfied. They actually offer a pretty unique and one-of-a-kind Bunny plan, which is sort of like a trial period. It lasts for about a month, and during all this time you get to enjoy the services of the bot without actually paying anything. Owing to the cut-throat competition in the world today, it seems pretty generous on Cryptohopper’s part to offer the customer this deal. As soon as the one month trial period gets over, the user needs to choose a payment plan. As for what these plans are, firstly there is the Bunny Adventure Hopper plan, which costs as low as $19 for a month and lets you deal in as many as 15 different coins. Next, there is the Hare Advanced Hopper plan, which is still pretty economical at $49 for a month and lets you choose from among 50 different coins.
For people who are still not satisfied with any of these plans, there is the even bigger Kangaroo Master Hopper, which costs a good $99 for a single month and lets you choose from 75 different supported coins. The members of this plan also gain access to some other high priority services such as priority customer service and complaint addressal.
If there is one aspect of Cryptohopper that happens to be a little shady, it is this one. Unlike all the other cryptocurrency services out there, for some reason, Cryptohopper won’t list the names of its team members on to its website. None of the team members have found a mention on the official website and neither is there much information on the development history of the platform.
All of this seems a little jarring, especially to new users since it always remains to assure to know that the people you are dealing are in fact real people with legit backstories. Cryptohopper, for some unfortunate reason, fails to offer this satisfaction. However, a point worth mentioning here is that the entire Bitcoin Empire was built purely on anonymity as the developer chose to stay hidden behind the pseudonym, Satoshi Nakamoto. Perhaps, Cryptohopper simply aims to uphold the same tradition.
Overall, this is one of the best trading bots we have ever tested. What we especially like is that it is so newbie-friendly, meaning that everyone could get their hands into trading with bots. It’s quite affordable with different plans based on what your budget is. Even though Cryptohopper is a new entrant to the trading bot game, they are for sure the most revolutionary one since it is 100% based on the cloud.