What to do if a person is interested in entering the ever-growing cryptocurrency market but has little or no prior trading knowledge? If this is the case, it may be worthwhile to explore the advantages of using a bitcoin trading bot.
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It enables the purchase and trade of digital currencies without spending time on a computer for long periods. The bot functions independently, depending on the pre-programmed circumstances that it has learned about. There are varieties of trading robots available online. Cryptohopper, for example, is often regarded as the most dependable.
Trading with this crypto trading robot intends to assist traders of all experience levels. It provides opportunities to optimize their earnings and minimize their chances of suffering losses by simplifying the crypto trading process.
It is important to note that the semi-automated robot has no guarantee over profits; rather, it enables investors to execute intelligent investments based on specially designed trading methods and external indications.
What is it?
According to the website of Cryptohopper, the project was the brainchild of brothers Pim Feltkamp and Ruud Feltkamp. One of them is a former actor of soap opera who became a well-known trader while the other is a web developer.
They both came together and combined their ideas, experiences, and skills to develop an automated trading bot that works around the clock, deals with a variety of e-currency, and is harmonious with several crypto exchanges through API.
Users may also subscribe to manipulatable investment solutions and external signals targeted at traders who want to make money quickly. Traders of various levels may participate in the exchange. It has more than 75,000 registered users, according to the company’s press release.
It comes under the ownership and operation of Cryptohopper BV, headquartered in Amsterdam since 2017.
The semi-automated trading bot is hosted on the official website. It enables investors to eliminate human emotions and tendencies from the process. It depends on technical algorithms for trading to make trading decisions.
It is fit for 75 cryptocurrencies. It performs nine prime exchanges like Binance, Bittrex, Coinbase Pro, Bitfinex, Huobi, Cryptopia, Kraken, Poloniex, and Kucoin. Cryptohopper is also compatible with a growing number of cryptocurrencies and exchanges.
More Information on Cryptohopper Can Be Found On The Official Website Here
Features
· Working– It is a web-based application with a simple interface for users that allows doing various tasks. Users may set the bot to trade automatically 24 hours a day, seven days a week, and utilize both social and algorithmic trading strategies. Different technical indicators are responsible for developing strategies for trading.
· Technology – Semi-automatic transactions are possible via API with a variety of crypto exchanges. The service is accessible from any device with an internet connection like desktop, tablet, mobile phone, or laptop.
· Ample Selection of Trading Tools — The platform offers a comprehensive selection of trading tools, including a bot backtesting tool, saveable and configurable templates, custom tech indicators, and trailing stops. In addition, one can also use indicators like the Stoch, Bollinger Bands, MACD, and RSI.
· Interacting with Exchanges – It is presently compatible with nine exchanges like Binance, Bittrex, Bitfinex, Coinbase Pro, Cryptopia (formerly known as Cryptopia), Huobi (formerly known as Kraken), Poloniex, and Kucoin (formerly known as Poloniex).
· Customer Support – It has a support staff ready to assist users with any problems they may be experiencing. Contacting the team may be done via the Support Segment, but they are reachable through the Twitter handle, Facebook page, and Telegram group, among other methods.
In addition to this, the website includes several frequently asked questions (FAQs) and several tutorials to assist users in navigation. The team has also created their video collection for Cryptohopper Academy, available online.
Registration for a Cryptohopper Account
The procedure for account creation is straightforward. The homepage shows a Signup button in green on top.
- Register for an account: Enter the website. Fill up the required fields with the name, username, password, and email address. After that, a person has to confirm the email account by clicking on the activation link in the email. The person will then get dashboard access.
- Create an account: The wizard will guide one through the process of rapidly configuring the hopper from this point on. One needs to choose an exchange as the first step. Later they can set up the bot using the API credentials for the exchange, using some basic hopper settings. The procedure is fairly simple, and there are tutorials with helpful material on each stage available to guide one through the process.
- Create an account with Signallers: User registration for integrated professional external signals is made possible via this app. The signaller assistance is given by experienced dealers looking for favorable indications of an upward trend. It has paid and free membership options available. The bots are set to follow signallers with a few simple clicks.
It is possible to track the profitability of signallers, and their performance reports are readily available. It uses ML algorithms and cloud computing to monitor various technical signs across digital currencies constantly.
Pricing
It has three primary price options. It also offers a free trial version of seven days called Pioneer Plan.
Traders can join the service by signing up and start using it. They also do not have to provide any financial information. After the trial period ends, it is automatically deactivated, and customers get the option to upgrade to a full membership at that point.
The following are the options for traders wanting to participate in the program:
The Pioneer option is available for a seven-day free trial
· There are 80 available positions
· There is a maximum of 15 chosen coins
· There is a maximum of two triggers
· TA has a ten-minute time interval
· 1 Trading Bot
Beginner package or Explorer plan is available at $19 every month
· There are 80 available positions
· There is a maximum of 15 chosen coins
· There is a maximum of two triggers
· TA has a ten-minute time interval
· 1 Trading Bot
Adventure pack or Trader Plus option available at $49 each month
· A total of 200 places
· There is a maximum of 50 chosen coins
· There is a maximum of 5 triggers
· TA has a 5-minute time intermission
· Exchange arbitrage
· 1 Trading Bot
Pro Trader option or Hero package available at $99 each month
· 500 slots are available
· There is a maximum of 75 chosen coins
· There are a total of ten triggers
· TA has a 2-minute time intermission
· Market Arbitrage
· All coins available as signals
· 1 Trading Bot
It has the availability to pay monthly. One can buy an entire year’s service. However, it is essential to remember that it does not provide refunds. Customers should take advantage of the free period before purchasing a plan.
How user-friendly is Cryptohopper for newcomers?
· Most trading bots are for expert traders. But this app contains a variety of features designed for beginners. A feature like Hopper Academy is accessible to all users and provides entry to a video collection that teaches the working and methods to utilize the assistance.
· It has also established a thriving community, particularly beneficial to newcomers to the cryptocurrency space.
· It should prove to be very beneficial in the case of bitcoin trading. Additionally, there are active Telegram and Discord groups for members. It also has a dedicated forum for members accessible in many languages, including English, Spanish, French, Portuguese, and Dutch.
· Hence, novice users have the opportunity to speak with fellow traders and acquire tips from more experienced users from all over the globe. They may continue to learn at any time of day or night.
· The platform design is user-friendly, requiring no prior programming expertise or sophisticated technical skills.
· Additionally, it allows for extensive backtesting, allowing novices to quickly determine whether or not their settings are correct by testing and experimenting with the setup.
· Using this feature, users may see the amount of money possible earned in the past. It allows modifying the robots to have a clearer picture of the working.
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Benefits
· Traders that are interested in replicating trades
· Traders who have previously established accounts with their preferred brokerage firms
· Traders seeking sophisticated analytical instruments that do not need coding expertise to put into action
Pros
· There are no extra commissions charges apart from the monthly costs in this case
· Investors will have access to top analytical tools via this service
· Advanced security measures are default in this mobile application
Cons
· There are no phone alternatives for customer assistance
· To use the majority of the most helpful services, a person must subscribe to a monthly subscription
ALSO READ: Cryptohopper Customer Reviews and Testimonials: Does It Work For Everyone?
Conclusion
Cryptohopper can be the solution for most crypto investing individuals. It makes it easy to assess transactions, imitate expert traders, and interact with a larger cryptocurrency community. It can be used as a beginner’s tool in the cryptocurrency market. It is also best for experienced traders looking to multiply their income. With language options, subscription plans, unique AI and ML algorithms for trading, this application is suitable for anyone trying their hand at crypto trading.
