CryptoHero Review 2022: Is It Safe? Is It a Scam?

Last Updated: May 12, 2022
Today’s review has got CryptoHero in the spotlight. Will it make or break your crypto career? Let’s find out in our CryptoHero review.
CryptoHero Review
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Venturing into a cryptocurrency exchange without trading automation software? Well, you either have a lot of time to spare or you do not really intend to do crypto trading seriously.

Picking the right crypto trading tool can be the difference between a prosperous business and a failure in the making.

CryptoHero Review 2022

Today’s review has got CryptoHero in the spotlight. Will it make or break your crypto career?

Automating cryptocurrency day trading has made life easier for a whole bunch of people, a number which only grows as the industry expands at an unprecedented rate.

This surprises no one as more and more businesses and even some governments embrace cryptocurrency as legal tender and accept payment in digital coins.

The key is in finding a well-performing crypto trading bot.

The typical example of a good bot is the one which balances accessibility and performance to a point where even the slightly less experienced users can use it, and those with a solid grip on the matter can make use of its potential to dominate the market. 

The goal of today’s review is to ascertain whether CryptoHero is an example of that trading bot or it is full of story, little in practice.

So, let’s proceed together, shall we?

What’s CryptoHero?

CryptoHero Features

Launched in 2021, CryptoHero is a trading automation platform that has managed to get its name widely heard in a short amount of time.

The goal of the company is to make trading automation more widely available as it lowers the entry bar by removing technical experience as a prerequisite for running and maintaining a crypto bot.

These non-geeky bots go hand in hand with its user interface solutions that make CryptoHero a perfect app for mobile devices.

This combination of easy-to-make crypto trading bots and the aspiration of making the CryptoHero app widely available via Google Play, App Store, and in web device version makes CryptoHero an ideal candidate for traders that often find themselves on the go or simply those people with a more casual approach to crypto day trading.

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On the other hand, this approach is not hindered by performance as the CryptoHero bots promise performance that is not below the level of the industry standard of more dedicated software.

As the story goes, CryptoHero seems to perfectly fit into the category of those bots that maintain the subtle balance between accessibility and performance.

Does the story reflect the actual state in reality? Read the review to find out.

CryptoHero Crypto Trading Bot Review 2022

CryptoHero

So, what makes the CryptoHero trading bots easy to make and run without any particular coding skills? Well, the platform has oriented itself towards the graphical approach to placing instructions in scripts.

In other words, CryptoHero relies on “intuitive” drag and drop systems that link features in such a way that leaves little room for error.

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A cloud-based software, CryptoHero promises the bots to be active around the clock with zero downtime.

The bots that are made on the platform use AI technologies to improve performance and help traders design strategies that are supposed to “guide” you towards a solution that has a history of good performance.

With a certain number of technical indicators you can customize the approach to a degree, but you can also commit to a simple take profit action or buy in both long and short strategies.

Supported Technical Indicators

  • Bollinger Bands (BB)

Used to track the momentum of the market and generate indicators based on the traffic of sales and buys, Bollinger Bands rely heavily on the volatility of the market to generate opportunities for making a trade.

  • Relative Strength Index (RSI)

An oscillating indicator that uses the momentum of the market to measure the speed and magnitude of fluctuations in asset prices to indicate whether a cryptocurrency is overbought or oversold. 

  • Exponential Moving Average (EMA)

An indicator that fuses a short strategy interaction and long strategy interaction into one major indicator, EMA tends to provide a smoothed-out price trend over a designated period of time.

  • Stochastic RSI (SRSI)

Shunning the asset price in favor of the RSI value itself, SRSI tends to have much quicker reaction speeds and delivers oversold and overbought indicators more swiftly than the RSI.

Ease of Use & Accessibility

CryptoHero

It is quite clear from the very start that CryptoHero caters to the lower bracket of the experience pool of users.

Aimed towards beginners and inexperienced traders, even those with no previous contact with crypto trade, CryptoHero is tailored towards drawing the path to the market, literally.

The graphic approach to making and using crypto trading bot indeed does allow a lot more users into the industry.

However, this is a double-edged sword for those with slightly more experience and those who manage to learn the ropes in the process.

In fact, relying on predetermined features that get linked by drag-and-drop methods severely restricts the customizability of the code, and thus also hinder the bot’s performance.

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While helping more people into the industry, CryptoHero’s approach turns away traders with more experience looking for performance rather than accessibility.

Sure, bots made via this method are easy to run and maintain, but pretty much every bot with a degree of customizability and sophistication will beat CryptoHero when it comes to securing a favorable trade deal.

So yeah, the balance that we have talked about earlier in the review isn’t really achieved with CryptoHero as the company may suggest. Sadly.

Supported Exchanges

CryptoHero Supported Exchanges

As for the exchanges supported by the CryptoHero platform, there are quite a few of them, and a mix of major and niche players as well.

To name a few, these include Binance, Huobi, OKEx, Coinbase, Kraken, KuCoin, Mandala, etc.

This is a prominent achievement for a company that launched in early 2021. Securing that many partnerships lends CryptoHero a little bit more credence over the competition in their niche.

Security & Customer Support

The security measures upheld by the CryptoHero team match the basics of the standard of the industry, which means that they host their software over a secure protocol and rely on API keys for withdrawing funds to and from cryptocurrency exchanges.

By supporting backend access to your cryptocurrency accounts, CryptoHero’s trading bots ensure that you never need to put your passwords into jeopardy. 

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Regarding the customer support, nothing deviates from the standards of the industry here as well.

During working hours you have access to live chat, and if there are no available agents at the moment of inquiry, a queue-based system puts you onto a waiting list for when one of the agents is free to help you out.

While some aspect of video or phone call would be a welcome option, we cannot blame CryptoHero too much for missing out on this.

Pricing

CryptoHero Pricing

In its essence, CryptoHero offers its service within the scope of three pricing plans.

The first plan, or the Basic, comes for free and is meant to be understood as a free sample of what CryptoHero can achieve with its trading bots and automation tools.

It offers all services included within the platform, with the notable limit of having only one bot active and having only one active API connection.

In addition to this, bots processing priority for users in this plan are lower than those in the other two plans, meaning slower reaction speeds, as well as other consequences related to processing power of the central system.

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The second plan, or Premium, comes for $13.99 per month and expands upon the Basic plan by increasing the limit of active bots to 15 and increasing the number of API connections to the maximum of 3.

Also, your bots get more processing priority than those made in the basic plan, and the same as the power in the Professional plan.

Speaking of Professional, it is the third pricing plan that costs $24.99 per month and it provides a limit on active trading bots of maximum 40 and removes the limit on the number of API connections.

Top-Rated Crypto Trading Bots

These crypto trading bots have been voted as the best consistently in user ratings across various websites.

RankService 
1PionexGET IT FREE
2BitsgapVisit
3CoinruleVisit

Review Verdict

We have reached the end of the review and we have to provide the answer to the question posed in the beginning: does CryptoHero really provide top-tier service while removing coding from the equation and providing the same chances to those with no experience as the seasoned veterans of the trade have?

Regretfully, the answer is negative.

While it is true that CryptoHero lowers the bar and allows more people access to the crypto trading market by the means of automation, it is also true that bots made with CryptoHero simply lack the flexibility and the performance of bots made by coding or some other methods of easing access.

However, this does not mean that there are no trading bots out there that provide both performance and accessibility.

Take Pionex and Bitsgap as examples.

A well-thought approach, a model that scales with experience and skill growth of users, and a powerful punch for the people who devote themselves to a full-fledged crypto trading career make these two an excellent place to start (and stick to).

Give these guys a go instead.

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Written by Thomas McGovern

Thomas has over a decade of experience with blockchain and cryptography. He writes regularly for EarthWeb and holds a M.S. in Mathematics.
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