Cryptohopper is a trading bot that is operated by Cryptohopper BV and claims to function with a number of popular Cryptocurrency exchanges. The Bot was launched in 2017. The owner claims that this algorithmic technical-based trading robot is compatible with various Cryptocurrency exchanges and can automatically buy and sell coins for profits. What traders want to know is whether Crypto Hopper is a legit trading bot or just a scam. We have made it our job to present this factual review to you so you can make your own decision regarding the trading bot in question.
The website Cryptohopper.com is where the trading bot is hosted at. The developer claims that Cryptohopper was designed to present traders of all experience level with holistic and convenient trading solutions. It eliminates emotions in your trading, and thus you are able to make informed decisions every time the robot buys or sells Cryptocurrencies on your behalf.
Cryptohopper is basically made of a number of trading indicators which work in tandem with pre-programmed trading approaches in to make profits. As Cryptocurrency traders, this bot is intended to make work easier and more fun.
The one thing that we have identified with this bot is that it offers a free trial as well which users can take advantage of before making financial commitment. Cryptohopper is allegedly compatible with up to 75 different coins. However, this depends with the plan that an investor will choose.
Crypto Hopper is solely a web-based application. It can work on any internet enabled device such as a PC, Mobile device, tablet etc.
At the moment, Crypto Hopper is working with various exchanges namely Kraken, Bittrex, Poloniex and Binance. However, CryptoHopper also says that they will soon introduce other Crypto exchanges as well. For now, investors can only work with the available ones.
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One of the key features of this robot is that it is easy to get started with. Users can allegedly start trading in just under a minute. Unless a user embarks on the free trial, the only option is to choose one of their subscription models and choose a broker which they will then sync with the Hopper. For that reason, the Cryptohopper requires that the user sets up an account with any one of the supported Crypto exchanges.
The moment installation has been completed, the linking with these Crypto exchanges can begin. Once this is done, the user is supposed to have unlimited access to the Cryptohopper trading bot.
Since it is web-based, the user can access their dashing board to view their trading positions, performance reports and other things such as manipulating trading conditions to suit the circumstances.
The user is supposed to determine a fixed amount that they will use for every position that they will hold in the market. They can also include a take profit and stop loss levels which are functions that will be automatically executed once those levels have been reached.
Investor portfolio can be accessed through the dashboard area of the Cryptohopper. This way, they can view a detailed performance of their portfolio. In addition to this information, they can also view a detailed history of the different coins and their relative performance statements as well.
Basically, the dashboard area is supposed to serve all the relevant information in one spot.
Cryptohopper alleges that there are a number of dynamic trading approaches being offered here. It basically targets traders who want to experiment with various approaches before they can finally find their ”sweet spot”.
The dashboard enables traders to customize their trading approaches according to their liking. If one trading approach doesn’t help as much, they can always shift to another trading approach or even customize the current approach to suit their needs.
The problem with having a vast array of choices to choose from is that inexperienced traders run the risk of making a lot of mistakes before finding out what works for them. In the meantime, they will have lost a lot of money during these trials.
Cryptohopper is also making use of educational videos and posts to help their users learn how to best make use of this trading bot. Whether or not they find this information helpful is something we cannot confirm at the moment.
However, we were still able to find hints of the existence of a Cryptohopper community. This community is allegedly active with people who claim to be using this robot. They allegedly share their trading ideas and settings with one another. But the truth is that if a setting is working for one particular trader, there is no guarantee that the same settings will work for another.
Back testing is also available on this platform as well. Cryptohopper is providing this feature to let traders see how their investments would have fared on in the event that they placed their trades back in time. The problem with backtesting though is that the results that trades get can never be replicated. Back tests are only good for the history. Most traders complain that robots that are sold based on backtested results will never perform the same when being tested on a live market. So this is quite a concern here.
For Cryptohopper to function properly, signals have to be generated from somewhere. The website claims that their signals are generated from an external source and that they are constantly manipulating trading performance in relation to trade history so they can make this bot perform at its best.
The bottom line is that we are yet to see people who have actually profited from the use of Cryptohopper.
Cryptohopper sounds like a good idea. However, the way we see it is that it can be quite involving, plus traders must already have some experience before using it effectively. Are we saying this is a scam? Not at all. But is possibly going to cost a lot of time in trial and error. The best way to go about this matter is to make use of these bots because they were designed for both newbies and expert traders and are free.
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2 Replies to “Cryptohopper Review: Is It a Scam Crypto Bot?”
Gostaria de ter um treinamento de configuração do robô, Agradecido
Você poderia me explicar as diferenças das mensalidades.
Desde já, muito obrigado