Home Cryptohopper Tutorial: How to use this trading bot

Cryptohopper Tutorial: How to use this trading bot

Cryptos

13 min read

Cryptohopp is is a cryptocurrency trading robot designed to simplify the crypto trading process. I told you about it in my top 5 best cryptocurrency trading bots. Trading bots help traders of all levels get the most out of their trading, maximize their profits and reduce the risk of losses.

Cryptohopper therefore wants to help traders by providing them an easy-to-use service and complete which allows its users to easily exchange several cryptocurrencies while eliminating human weaknesses (which are numerous) in their trading process.

I'm making big gains on Cryptohopper and it wasn't easy for me at first. So, I told myself that I had to do a little tutorial to explain how Cryptohopper generally works.

? A quick reminder about trading bots in general before starting

The semi-automated robot does not guarantee profits every time, however. I prefer to warn you. Besides, no trader in the world, not even Warren Buffet – could win all the time. But, this trading bot simply allows traders to trade smarter. These are in fact based on algorithmically programmed trading approaches and external signals. There's nothing like a robot to analyze such complex data.

Cryptohopper Overview

The site Cryptohopp is recalls that the project was launched by two brothers. One of them is a successful day trader, and the other is a brilliant web developer. The two brothers therefore naturally merged their ideas, skills and experiences to create a very practical bot.

This trading bot trades automatically for the user, operates 24/24 and trades various tokens, while being compatible with a number of cryptocurrency exchanges, such as Binance. Likewise, the bot can integrate with various other platforms through an application programming interface (API).

Additionally, the platform is owned and operated by Cryptohopper BV, a company based in Amsterdam, Netherlands. Far from an offshore paradise, which is already more reassuring, right? The domain cryptohopper.com was registered in July 2017.

The official website hosts the semi-automated trading bot which allows traders not to succumb to the vices of human psychology. The bot therefore allows you to rely instead on technical and fundamental trading algorithms. Quite simply, like all other trading robots, you tell me.

Users can also subscribe to external signals. This is the great particularity of Cryptohopper. The trading solution is aimed at cryptocurrency traders of all experience levels. The team announced that it has over 100 users to date. Which is just huge.

In addition, this is also the enormous advantage of Cryptohopper, which is that you can - in the absence of having a trading strategy - simply copy those of the best traders.

Cryptohopper is compatible with over 75 cryptocurrencies and nine exchange platforms whose Binance, Bitfinex, Bittrex, Coinbase Pro, Cryptopia, Huobi, Kraken, Kucoin and Poloniex.

The characteristics of Cryptohopper

Functionality - Cryptohopper operates as a digital solution and features an intuitive and easy-to-use user interface that includes a wide range of functions. Users can configure the bot to trade automatically 24/24. Trading strategies can be installed easily via various technical indicators. Likewise, one can simply copy traders and their strategies.

Technology – The semi-automated bot is carried out via an API interface with a cryptocurrency exchange platform. One can use the cryptohopper trading bot on any internet-connected device such as a desktop, laptop, tablet or mobile phone.

Range of tools – The site offers a wide range of trading tools and integrates features such as a backtest tool, configurable and saveable models, stop-losses and customizable technical indicators. Users can also count on famous indicators such as Stoch, RSI, Bollinger Bands and MACD.

Integration with exchange platforms : Cryptohopper is currently compatible with nine exchanges including Binance, Bitfinex, Bittrex, Coinbase Pro, Cryptopia, Huobi, Kraken, Kucoin and Poloniex. Support for BitFlyer, Bitstamp, CEX.IO, Cobinhood and HitBTC is planned to come soon.

Customer Support - The site includes a support team available to deal with all types of issues. They are very responsive to have tested the support myself. Users can contact the team by submitting a support ticket in the Support section. They can also be contacted via their Twitter account, Telegram group and Facebook. The site also has a number of FAQs in the Support section, as well as a number of tutorials. There are even video tutorials, to show you how much they care about their customers.

Why and how I use Cryptohopp is:

First of all, know that I have traded quite a bit before - before getting into cryptocurrencies - on forex in particular.

I had heard about trading robots, but I don't know why I didn't like it that much. I still loved following my indicators and trading manually. In any case, for forex, it was like that.

Then when I discovered bitcoin and cryptocurrency trading. It changed. I understand that the market is different in its functioning from the traditional currency market. And, that's how I came to the trading robot.

In short, I've tried quite a few but I must admit that I really like Cryptohopper and for several reasons. The main reason is the fact that there is a marketplace. I'll explain how it works below, don't worry. And what I like is that you can get different bots and that's what I really liked about Cryptohopper.

Understanding the Cryptohopper marketplace:

In the Cryptohopper marketplace, you can access 3 important elements to create and configure your bot.

Templates: : These are the pre-designed templates that you can create yourself or download for free. A template contains all the settings you can configure for your hopper.

Signals: This is the crux of the matter. The better and sharper your signals are, the more good positions you will take. The more you will gain. The signals are often free. Sometimes they pay off because they come from professional traders and the results are breathtaking. Choose signals with good reviews. I give you further down in this article the best signals to choose.

Strategies: I admit that this is the hardest part to understand. In fact, it's really a set of indicators that make up the whole of a strategy. Often, the strategies turn out to be the most profitable. here too, it very often pays off, especially when strategies allow you to earn a lot of money.

Register on Cryptohopper

Creating an account is a simple process and the main page has a green “Register” tab at the top of the page.

The only problem, it's true, is that the site is only available in English. But, frankly, this isn't really a problem when you understand the features.

1) Create an account for free

Go to the Cryptohopper site on your computer or smartphone. Enter a name, email address, username, and password to register.

You can then confirm the email you received and go directly to the dashboard. You should arrive on the dashboard which looks like this:

2) Set up your account

From there, you can simply follow the wizard as it will help you quickly set up your profile. You just need to select an exchange and configure the bot via the API keys of your preferred exchange.

The process is very simple and if you really can't do it, don't hesitate to click on the "Wizard" to help you. Each step is clearly explained.

You will then be able to connect your trading platform (personally, I use Binance) to your Hopper robot.

Now you can immediately start using your cryptohopper bot.

Once you've used the wizard and set up your account, you'll be able to access a host of features from the dashboard. You can subscribe to signals, set up templates and start testing your bot. Don't forget to set up two-factor authentication on your account. This is what you must do systematically on all the different sites related to cryptocurrencies, by the way 😉

3) Registration for signals (hoppers)

Cryptohopper allows users to sign up for built-in professional external signals. The signal service is provided by experienced traders who base their robots on it. Free and paid subscriptions are available and robots can be configured to follow hoppers in just a few clicks.

Flaggers have easily accessible performance reports and their profitability can be monitored.

They also use cloud computing and machine learning algorithms to continuously monitor numerous technical indicators for different cryptos.

It is possible to combine buy signals and technical analysis indicators at the same time, in addition to setting stop losses and follow-throughs.

How much does Cryptohopper trading bot cost?

There are three main pricing plans available; However, Cryptohopper also allows members to use 7 days free.

So it's ideal to start and try. If you don't like it, you simply don't have to pay anything.

Users can simply register and start using the service without having to provide any payment details. At the end of the trial week, the hopper is automatically deactivated and users can then choose whether to purchase a full subscription or not.

The plans for anyone who chooses to sign up are as follows:

Explore Hopper Starter ($19 per month)

80 positions
Maximum of 15 cryptocurrencies
Max 2 triggers
Duration every 10 minutes
Basic support

Adventure Hopper Medium ($49 per month)

200 positions
Maximum of 50 cryptocurrencies
Max 5 triggers
Duration every 5 minutes
Extended support

Hero Hopper Pro ($99 per month)

500 positions
Maximum of 75 different cryptocurrencies
Max 10 triggers
Duration every 2 minutes
Arbitrage
Frontline support

It is possible to pay monthly or purchase the service for a full year. Per year, it will cost you less of course. It is also important to note that Cryptohopper does not provide any refunds and users should make the most of the free trial period before subscribing.

Is Cryptohopper suitable for beginners?

While many trading robots are best reserved for more experienced traders (I would say as for 3Commas), Cryptohopper includes a number of features aimed at beginners.

These include the Hopper Academy, which is available to all members and allows everyone to access tutorial videos that explain how Cryptohopper works and the best ways to use the bot.

Cryptohopper has also developed an active community, which should prove extremely useful for newcomers to trading cryptocurrencies. There are active Discord and Telegram groups, in addition to a special member forum available in English and also in French, Spanish, Dutch and Portuguese.

Finally, new users can chat with and trade with traders around the world, while continuing to trade 24 hours a day.

Cryptohopper Dashboard

The platform has also been designed to be easy to use and requires no programming experience or advanced technical knowledge. Previously, it took a lot of technical skills to install a bot! It was horrible when I think about it, it was so complicated.

Additionally, Cryptohopper also allows full backtesting, and beginners can easily check if their setups are working accurately by playing with and testing their setup.

Users can see how much they have earned per position and adjust their robots to better understand how everything works, while learning the basics of the trade.

Is Cryptohopper a reliable site?

The project is very active on social media and has a large number of users. New members can also browse Reddit posts to interact with previous users and gauge general sentiment about the company.

As with all trading bots, users are not required to transfer money to an account controlled by the bot developers, as the bots typically operate through an API that allows them to execute trades on linked exchanges. . It is necessary to provide your API keys generated on your preferred exchanges. These keys give the bot restricted access to your account for trading purposes.

😎 Yes, understand that cryptohopper will not be able to act on your account on exchange platforms.

Additionally, bots are not granted withdrawal rights, and in the event of a hack or data breach, nefarious actors would not be able to directly access your funds. The Cryptohopper team has also developed partnerships with some of the industry's leading exchanges and users can also set up two-factor authentication (2FA) to further secure their accounts.

How I use Cryptohopper:

Cryptohopper is an automated trading robot that trades for you using trading algorithms.

Once you connect your bot to a cryptocurrency exchange, you can select a number of strategies that the bot will implement in an attempt to make a profit. The online dashboard allows users to easily monitor their performance as well as flagger reports and subscribe to the best signals.

For example, I use a hopper already pre-designed for Binance which works very well!

You can also buy robots created by experienced traders. But this comes at a cost. In general, it costs around $20. Looking at the feedback and comments, some of the bots are just incredible in terms of performance. The more familiar you are with the platform, the more you will be able to see and consider the different trading robots created by pro traders.

The best signals on Cryptohopper:

For example, here is a strategy below that I use and with which I generally make 5% per week, in approx.

I am Tapoleon and I installed the same template as him. As simple as that.

Here are the positive comments that can be found:

That said, some people claimed they didn't win. So it will also depend on the time and the market situation. Plus, this strategy costs $24 so if you're just starting out, start with the free stuff.

I remind you that I am not recommending anything to you – because I am not an expert in finance, eh-. But, I'm just showing you what works for me and others.

It is up to you to carefully analyze the comments and the description of each item.

Conclusion on Cryptohopper, the trading robot par excellence

Cryptohopper was designed to provide the crypto trading community with a viable solution that helps traders generate profits more consistently.

The combination of technical indicators and expert or third-party trading indicators gives traders a greater number of options, as do the template and backtesting features.

Although Cryptohopper is essentially an algorithmic trading robot, it is easy to set up and use and is suitable for new traders as well as more experienced practitioners.

The team has put considerable effort into developing a beginner-friendly platform and new users are also able to access many of the tutorial sections in particular.

I also recommend you to use the videos of the » Cryptohopper Academy « and the multilingual Hopper forum as it can be extremely beneficial. Especially, if you want to improve your skills in crypto trading or simply exchange with other people like you.

— The risks of trading bots

However, despite the long list of standout features, users are still advised to use the platform wisely and note that there is little information about the team behind the project.

Therefore, it is best to install 2FA on your account, take full advantage of the free trial, and make a modest financial commitment. It may also be a good idea to connect the bot to a live account holding a small amount, as there is less risk if the bot underperforms or the signals do not generate the expected results.

It is also important to note that even though trading bots do not have access to withdrawal, if they become hacked, bad actors can leverage a bot's API to purchase very low value coins that are then “pumped and emptied”. This is what has happened in the past and is a security issue that needs to be addressed by both trading bot developers.

Additionally, users reported that free third-party signals were of lower quality, especially in sideways or bearish markets, as notifications arrived too late and exposed the trading system to slowdowns on the platform. As a result, users should spend some time researching flaggers and subscribing to more reliable paid signal services. It's my opinion.

There you go, I hope this tutorial has helped you take your first steps with Cryptohopper. Tell me in the comments if you have any questions.

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