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Cryptohopper is a web-based fully hosted cryptocurrency trading bot. We will cover some of the basics such as what are it's main benefits, how easy it is to use, which plan to choose, what extra features should you consider subscribing to, and towards the end we will share some ideas on a strategy you could use to get started trading with Cryptohopper today. Cryptohopper really stands out among cryptocurrency trading bots in that it has a clean looking easy to use graphical web interface.
You create an account at Cryptohopper. There is some basic setup involved and they have video tutorials to help walk you through the process.
In terms of how easy it is to use, it seems fair to say that while the interface is very easy to use, it can be tricky to setup a good strategy and get it to execute properly.
Many other trading bots require much more computer expertise and often require use of a command line interface or a VPS, Cryptohopper makes all of that easy. A typical user of any trading bot should certainly already have at least some trading experience and knowledge of basic technical analysis indicators would be very helpful. Cryptohopper still may be an option for someone with less trading experience if they wanted to setup their hopper to act off of Signals rather than a technical analysis strategy of their own.
If that is the case, you could get away with selecting a signaler, choosing what coins to trade, and setting a profit target and other basic money management features if desired. Whenever the signaler sends out a signal for your coin, the hopper would automatically put in a buy order. Now that we have covered Signals, we need to mention that Cryptohopper offers 3 levels for their hoppers: Bunny entry level , Hare mid-range , and Kangaroo max coinage.
For someone who wants to make the most use of the most number of coins that get recommended by a Signaler, a Kangaroo package may be best as they allow the most number of coins to be actively traded.
The other differences in the packages have to do with how often it checks prices and executes trades. Different strategies may work well with different packages. If you think Cryptohopper sounds like the perfect vehicle to implement your world domination crypto trading strategy, it may be possible but you could also be slightly disappointed. While the interface is clean and easy to use, the technical analysis tools themselves are fairly standard if not basic.
They are however constantly improving the product and have recently added new features and appear open to new suggestions. They do however allow you to use their backtest tool to backtest your strategy to see if it should be profitable or not.
In the following section I will go over a basic strategy that people have used and that has tested mostly profitable. I used a Bunny account and then turned on an oscillator or two RSI or Stochastic with standard settings although you may want to fine tune them in the backtesting tool and this basically means that the bot will buy when it thinks prices are "oversold" and sell when it thinks prices are "overbought.
I chose a 15 min. There is also a feature I learned to turn on called: I also usually don't run a hard stop loss with this strategy because I am only using it on a coin that I like and believe in. Pick a pair where you like both, in my case, I like Dollars and I like Bitcoin I hope you found this information useful. I spent a decent amount of time tinkering with Cryptohopper and I still like the product and believe in it long term.
While I did share my experiences, I would like to point out that none of this is to be considered financial advice and is purely for informational purposes only. If you would like to give Cryptohopper a try, you can get a free Cryptohopper Trial month by Clicking Here. Please consider upvoting, resteeming, and sharing this article so I can continue to put our great new content!
Getting started with Cryptohopper, one of the easiest and affordable Cryptocurrency trading bots. View the Cryptohopper Academy Videos If you are trying to decide whether it is worth your time, consider some of it's benefits: Easy to use graphical interface. Can pay for subscriptions with crypto or Paypal. Hosting for the bot is including in the price. You can run multiple bots called hoppers for additional fee. They have a feature that allows dollar cost averaging DCA Their website includes a message board where people can ask questions and talk strategies.
They are growing and releasing new updates and features regularly including on working to fix a few bugs here and there. Authors get paid when people like you upvote their post.