Cryptohopper Review

Cryptohopper Review 2024: Does It Work? Is It Safe?

Published on: April 5, 2023
Last Updated: April 5, 2023

Cryptohopper Review 2024: Does It Work? Is It Safe?

Published on: April 5, 2023
Last Updated: April 5, 2023


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Cryptohopper Review 2024

In some branches of commerce, an entrepreneur can only be as good as the tools that he uses. This is especially true for automated cryptocurrency trading.

A good trading bot is worth its weight in gold, while a bad trading bot does not only not earn, but can also lose you quite a bit of cash.

How do you distinguish between the two? Finally, is Cryptohopper a good or bad trading bot?

Think of a good crypto trading bot as a superhuman trader. It is wide awake and fully concentrated around the clock, seven days a week, without breaks.

It does not need leisure, vacations, entertainment, it does not suffer from physical and emotional needs and breakdowns.

It reacts within milliseconds to a profitable trading deal popping up, many times faster than a regular human ever could. Sounds superb, right?

Well, the only catch is that a trading bot has to receive trading instructions first, and this is where the problems start surfacing.

Some bots require exhaustive mechanical codes to be put in before they can move an inch on the market.

On the other hand, some require a couple of clicks to set off, but these usually either go blindly into the market or remain extremely limited in their performance.

The key, as always, is in balance. Strike a balance between ease of use and powerful performance and you have a recipe for an endless pot of gold. 

How does Cryptohopper fare on this scale? Is it powerful but complicated? Is it easy but too simple to earn?

And, ultimately, does Cryptohopper prove to be a reliable source of steady income? We’ll get the answer by the end of this review, so stay tuned.

What’s Cryptohopper?

Cryptohopper is a cloud-based trading platform designed to ease and simplify day trading of cryptocurrencies and tokens by automating many mundane chores and petty tasks.

The end result of this effort is a fraction of necessary time spent trading when compared to manual trading.

In other words, users no longer have to sacrifice their careers in order to dedicate themselves to crypto trading.

Alternatively, they can spend their time in leisure or other activities while the bot does the heavy lifting.

Cryptohopper accomplishes this by employing tried and true strategies and approaches that use bear and bull trends as well as a consolidating market.

These are all pre-set and packed into ready-made bots that users can start with a couple of clicks.

Limited customization options exist, as well as a drag and drop editor of features with which users can make their own strategies, unique to an extent provided by the software.

Besides crypto trading bots, Cryptohopper hosts a marketplace of strategies where experts post their own strategies and rookie traders follow those with experience and copy their approach for a fee.

Extensive research, simulations, and analyses are performed to further the AI-driven technology, to a point where the software can detect when a better strategy can be utilized and notify the user about it.

This is the pitch provided by the developers. How do the claims hold in reality? Let’s get on with the review and find out.

Cryptohopper Trading Bot Review

Cryptohopper Trading

As for the Cryptohopper trading bot, it follows a frequently-walked path in its conception and execution.

A standard set of features widely available in the industry can be found in this offer as well. 

These include Dollar Cost Averaging, which makes the best out of a failed investment by bringing down the weighted average price, Short Selling, a tool most useful when the price of a coin suddenly drops, as well as various other triggers that closely observe the value trends of digital coins and tokens and allow the bot to respond early to bull and bear markets.

Yet another driving aspect of Cryptohopper is its extensive paper trading and simulating options that use historical market data to create elaborate scenarios and pitch yoru strategy against documented trends in the market.

It costs nothing, but it can save you quite a lot if an idea sounds better in your head than when you say it out loud.

Also, the bot comes equipped with an arbitrage tool that can use its position amongst several markets to evaluate prices between different pairs and different markets and commit to a deal without having to pay multiple transactions.

Arbitrage makes use of price differences in two (or more) exchanges to deliver the difference right into your pocket.

Marketplace of Strategies

In an alternative way to establish your income with Cryptohopper, the platform has decided to provide a marketplace of strategies.

This allows senior traders to upload their bots along with the history of their performance and allow beginners and casual traders to copy it for either a fixed price or a percentage of earnings.

This is designed specifically to cater to those with little independent thoughts on market trends and copy trading in general.

With customization options being non-existent when you copy someone’s idea, it is usually reserved for those with no serious intention of making a career out of crypto trading.

How come? Well, as the dynamic of the crypto market changes rapidly, being unable to change the parameters of the bot on the go can have disastrous consequences.

Serious traders will never allow themselves to put all eggs in one basket then give that basket into the hands of someone else.

This type of social trading is supported by Cryptohopper even further by providing its users with an auto-scanner.

This tool scours the marketplace for fresh strategies and notifies you when it stumbles upon something that looks profitable. 

Ease of Use & Accessibility

Cryptohopper Ease of Use

Perhaps it is already clear where this ship is sailing by what you have read in this review.

By promoting a casual way of making and using bots, hosting a marketplace of approaches for sale, employing a drag and drop editor, and catering to the visual interpretation of complex data and instructions, Cryptohoppers leans heavily towards the less experienced part of the day trader pool.

This is positive to the extent of allowing beginners a foothold into the industry, but this comes with a flip side of the coin, of course.

What do we mean by this? Well, pre-made options and little to no customization leaves no room for error, but also no room for improvement.

In fast-changing economic environments this is especially risky as what has been a good strategy yesterday can turn into your worst mistake tomorrow.

If you cannot adapt, in best case scenario you will earn less than you can, in worst case scenario you will lose more than you can afford.

This is why seasoned veterans steer clear of such concepts.

The sooner you complete the 101 course on crypto trading, the more you will want something that you can tweak to better suit you and your business.

Supported Exchanges

Cryptohopper Supported Exchanges

Having a good number of supported exchanges is vital in providing more opportunities of making a lucrative trade, whether it is in arbitrage or just better maneuverability on the market in general.

Anyway, Cryptohopper provides support for more than 15 crypto exchanges, and these are:

  • EXMO
  • Bybit
  • OKX
  • Bitvavo
  • Bitpanda 
  • Huobi 
  • HitBTC
  • Bittrex
  • Poloniex
  • Coinbase
  • Binance
  • BItfinex
  • KuCoin
  • Kraken

Pricing Review

Cryptohopper Pricing

Cryptohopper’s services come in four different pricing plans, so to speak.

The first one is called Pioneer and it is free of charge. It does not provide automation services, though, only portfolio management, 20 positions, all available exchanges, and manual trading. 

The second plan is named Explorer and it costs $19 per month.

It gives 80 positions, a maximum of 15 coins in circulation, maximum 2 triggers, TA with 10 minutes interval, and 1 simulated trading bot.

The third plan is Adventurer, and it costs $49 per month.

It boosts the service provided by the Explorer package by giving 200 positions, 50 coins, 5 triggers, TA with 5 minute interval, 1 simulated trading bot, and access to exchange arbitrage.

The fourth package is the Hero package.

For $99 per month, it grants 500 positions, 75 coins, 10 triggers, 2 minute interval TA, all coins for signals, market arbitrage, market making, and sophisticated algorithm intelligence.

For those who want to sample the service first, Explorer is available for 14 days as a free trial.

Top-Rated Crypto Trading Bots

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


Cryptohopper Review Verdict

At last, we have come to the end of the Cryptohopper review, and this review owes some answers. Can Cryptohopper be recommended as a suitable crypto trading bot to wide audiences?

Sadly, no. A couple of serious faults cloud what could have been an excellent service.

Utter lack of customizability, blatant promotion of copying strategies without learning, merit, or skill development on the part of beginners, and average performance mean that there are better solutions out there, for all levels of proficiency.

Take Bitsgap and Pionex for example.

With a better learning curve, more options for senior traders, well-organized interface, and a lot of potential for powerful strategies, these two are both better options than Cryptohopper.

Give one of them a go and see for yourself.

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Written by Thomas McGovern

Thomas McGovern is a highly experienced blockchain and cryptography expert with over a decade of experience in the field. He has worked on numerous projects involving blockchain technology, including the development of decentralized applications and the implementation of secure cryptographic protocols. McGovern’s expertise in this area is complemented by his academic background; he holds a master’s degree in Mathematics, with a focus on cryptography and number theory.