Cryptohopper is a bot shop as I like to call them. A place where one can program/design bots. Thus using a multitude of different AI-based execution elements. If you are a crypto trading enthusiast looking for some kick-butt bots to boost your profits, then you are in the right place!
In our Cryptohopper review, we go over all the main features. As we wish users to get a clear idea of what they are getting when joining Cryptohopper.
Cryptohopper is the second most popular Autotrader platform behind 3commas. If you are not familiar with what a crypto trading bot is. Very simply they are a bunch of lines of code giving buy/sell signals.
Some of these bot signals are manual. Thus this is where the users execute trades themselves. Or rather they are executed through an API on an exchange, automatically.
With Cryptohopper they are mostly for auto-trading, so most users there will use the signals with APIs to have trades made through the exchanges they use.
Main features of Cryptohopper
Going through the list of cool features Cryptohopper provides is fairly straightforward. The ones we like are paper trading, market-making & the signal providers marketplace. Add the FREE trial to the mix and you have a winner here! Let’s look at some of the benefits below.
- Market-Making Bot
- Exchange/Market Arbitrage Tool
- Strategy Designer
- Signal Provider Market Place
- Social Trading Platform
- Paper Trading Mode
The above features of Cryptohopper really give it a broad appeal to a wider base of users. Hence we think most users looking for a crypto auto-trader should at least give them a try. In some respects, we can see this being a tool that some would even prefer over the 3Commas platform.
In trading, you have to keep an open mind and not become too set in your ways. Markets are always changing and in cryptocurrency trading that is even more so. The speed of the change we see all around us is extreme, to put it bluntly.
Don’t become too set in your ways, feel free to explore what you don’t know and learn some more advanced forms of crypto trading with Cryptohopper. They really have made complex subjects easy for users.
I find it amazing. Yes, amazing how simple they made it.
Give it a try!
The Market-Making Bot in some respects will be confusing for most. So Cryptohopper goes a long way to make this enjoyable. Dare I say, relatively a simple task. The real complexities of market-making go far beyond what they offer, but this is a good start.
Be you trading large size as a Binance automatic trader bot, or on a small illiquid exchange like Cex.io. You have the tool here to really help you get your crypto orders filled.
Using a Cryptohopper strategy for market making or arbitrage, maybe you were Cryptohopper Reddit reading and found the perfect strategy for market making. They give you the ability to adapt and create your own as you grow.
The definition of a Market-Maker per Cryptohopper:
“A market maker must commit to continuously quoting prices at which it will buy (or bid for) and sell (or ask for) assets. Market makers must also quote the volume in which they’re willing to trade, and the frequency of time it will quote at the Best Bid and Best Offer (BBO) prices. Market makers must stick to these parameters at all times, during all market outlooks. When markets become erratic or volatile, market makers must remain disciplined in order to continue facilitating smooth transactions.”
Maybe an overcomplicated explanation still in layman’s terms a market maker is there to provide liquidity for a smoothly working market that is efficient in its mechanics. This ensures buyers/sellers are able to get filled quickly and at fair prices.
Now with Cryptohopper, the Market-Making bot looks to simplify this process as much as possible and help you as a trader may be profit from big spreads on coins of low liquidity, or maybe from newly listed coins that just started trading. There are many ways to profit from using the Cryptohopper algorithms and this Market-Making bot.
Cryptohopper Market Arbitrage Tool
This is very tricky but in our Cryptohopper review, we will go over this in a bit of detail. Arbitrage is the simultaneous buying and selling of an asset on different exchanges or derivative. This is a very profitable part of trading when done right simply because of the price differences from one exchange to another.
Cryptohopper gives you the tools to start arbitrage trading on your own. They have 3 main types of Arbitrage on Cryptohopper. Read below to learn more about the different types of arbitrage.
- Spacial Arbitrage
- Triangular Arbitrage
- Statistical Arbitrage
Firstly, we will start with Spacial Arbitrage: Also known as geographical arbitrage, which is the simplest form of arbitrage. In spatial arbitrage, thus an arbitrageur looks for price differences between geographically separate markets.
Secondly, we have Triangular Arbitrage: This is the result of a discrepancy in price between three foreign currencies that occurs when the currency’s exchange rates do not exactly match up.
These opportunities are rare and traders who take advantage of them usually have advanced computer equipment and/or programs to automate the process. With cryptocurrencies, you get a lot more of these opportunities due to the nature of the crypto markets.
Lastly, we have Statistical Arbitrage: This is a more complex set of trading strategies employing large, diverse portfolios that are traded on a very short-term basis most often. The construct of this in the cryptocurrency space is vastly different in mechanics say the same with trading other assets such as stocks. The main theme here is to reduce risk and increase profits as much as possible, with hedging most often employed.
Triangular Arbitrage Example Above
Cryptohoppers arbitrage tool is very useful, especially for beginners. There are times you can take advantage of prices from one exchange to another.
As per Cryptohopper Arbitrage: “It allows you to trade discrepancies in the market, capitalizing on changes in market price between the same pairs on different exchanges. First of all, the arbitrage bot on Cryptohopper does not send funds among different exchanges (as you might expect from Arbitrage). Therefore, we don’t need permission for “withdrawal rights” through the API.”
Arbitrage is an area more for advanced users, along with Market-Making, but it is really educational in nature to show you how markets act/function across the board. Cryptohopper makes the process of learning and using this a snap! So please try it out if you become a member of the Cryptohopper universe.
Cryptohopper Strategy Designer
Another great tool in Cryptohopper is the strategy designer. It is a very good tool. Simple to use, and powerful. You can also share your strategies with other users and even sell them in their marketplace.
The Cryptohopper strategy designer is the place where you can create your ideal strategy. So if you are a user with a specific combination of technical indicators and other advanced forms of trading, be it Candlesticks, Macd Crossovers, RSI OB/OS. The list goes on and on. Cryptohopper is there for you!
Cryptohopper has a whole marketplace where you can not only create but share your creations. As well you can not only share but use other user’s crypto trading strategies.
Signal Provider Market Place
The Cryptohopper marketplace has 4 categories. Templates, Strategies, Signals & Apps. This allows members to share different ideas with each other. It really completes and aids traders to get the most out of the Cryptohopper platform.
Due to the unified nature and design of the marketplace, I kind of get a feeling of being limited to a degree. It is really not though, as you get plenty here.
You can share strategies & templates with other users again for free or for a fee. You can also join their crypto social trading & receive signals from other users. Lastly, you can also use the App marketplace for connectivity to tools such as the Telegram bot, Tradingview, and other various widgets/utilities to use in combo with the Cryptohopper platform.
Paper Trading Mode
Cryptohopper paper trading mode = safety! Firstly, I can’t stress enough that most users imo should use this before ever risking any money on a platform they don’t know how to use yet. Secondly this is a great feature to test strategies to see if profitable.
The papertrading mode will allow you use Cryptohopper like you normally would. Hence you only need to make sure your settings for paper trading is turned on.
Thus you can add fake fund deposits to your paper trading account. This allows you to get a feel for what trading will be like with different amounts.
It is very easy to both create and erase paper trading accounts on Cryptohopper. So again you can learn to use the platform safely and profitably.
Cryptohopper and their pricing is great! This is because they give you the ability to graduate from one level to the next. You can start out with the FREE version so you can get a feel for it, then upgrade to a 7 day trial, gaining more features.
From there you can start with the $19.00 monthly explorer package. After that each package gives you more features and abilities. The Adventurer is often for those who fit within an advanced skill but don’t need a larger number of bots.
Still, all of this being said it tops out at $99.00 a month for the Hero package. This will give you the full range of trading capabilities of Cryptohopper. All once again letting you choose based on what you use.
What is nice about Cryptohopper is how easy they make it to grow and give you the flexable options you need to trade. Does not matter if you want to use a binance automatic trading bot. Maybe you want to use crypto signals along with your crypto portfolio strategies.
I really like how they tie everything together in a seamless way, along with the flexible nature of the features you get as stated above. They have thought deeply about simplifying some fairly complex trading ideas for their users. You can see this throughout their website.
An example of this is in their sites Cryptohopper documentation and tutorials, which are indexed perfectly for one to educate themselves.
In their crypto signals market place, you can make a crypto portfolio of signal providers. Not just regular crypto signals, but rather within Cryptohopper you can use crypto signals telegram channels as well. The combinations and abilities they utilize are pretty amazing.
The tools are all included in Cryptohopper to help you become a professional trader with a clear path for doing so. We hope you enjoyed the review, if you have any question feel free to comment below. Until next time we hope you enjoyed the review!