Cryptohopper is a crypto trading bot powered by Artificial Intelligence. It remains active 24/7 trading automatically and you don’t need to make any manual inputs. In this Cryptohopper review, we are going to analyze the various aspects of this platform to determine whether it is reliable or not.
This company was founded in 2017 by Dutch siblings Pim Feltkamp and Ruud Feltkamp. One of them is an engineer while the other is an experienced Daytrader. The headquarters of this company is located in Amsterdam, The Netherlands.
Cryptohopper quick summary
Here are the key aspects of this platform:
- Large number of supported exchanges
- Social trading feature lets you mimic other traders
- Custom notifications, sell orders, and other actions
- Dollar Cost Averaging tool
- Backtesting and paper trading functionalities
- Large community of traders
- Monthly commission through the affiliate program
- Strategy designer for building custom strategies
Is it easy to use?
It takes very little effort to get started with this platform. You can sign in through your Apple, Facebook, or Google accounts. Alternatively, you can manually sign up by sharing your email address and name. Before you can start trading, you need to connect your exchange account. After this, you can trade with readymade strategies or build a trading bot. You can use different settings for each pair and install paid and free templates.
There are several user reviews for this trading bot on trusted third-party websites. Furthermore, it has tie-ups with some of the top exchanges. This tells us that many people are aware of its existence and it has a great reputation.
What crypto exchanges are supported?
Here is a list of exchanges supported by the platform:
- Bitpanda Pro
- Huobi Pro
- Coinbase Pro
There are four distinct plans for this crypto bot. With the Pioneer free plan, you can trade 20 positions and access portfolio management features. The Explorer package costs $19/month and it offers 80 positions and up to 15 selected coins. With the Adventurer plan, you can access 200 positions and up to 50 selected plans for $49/month. Finally, there is the Hero plan for pro traders that costs $99/month. You get 500 positions and up to 75 selected coins with this plan.
Security and privacy of Cryptohopper
At Cryptohopper, access to your account is protected by a username and a password. You also have the option of securing your account with 2-factor authentication. The developer recommends adding an extra layer of security using YubiKey or Google Authenticator.
Are traders happy with Cryptohopper?
This platform has a rating of 3.6 out of 5 on Trustpilot. Several users have praised the support provided by the service team and the strategy templates.
Profitability of Cryptohopper
The profitability of the system depends on a number of different factors. These include the market volatility, the strategies you are using, and the market sentiment.
Deposits, withdrawals and fees
For testing the system, the vendor recommends investing at least 20-40 Euros worth of Bitcoin through your exchange account. For optimum results, you should invest at least 300 Euros. This platform does not make withdrawals from your account.
Advantages of Cryptohopper
Here are the advantages:
The official website has a tutorial and detailed documentation. This will help novice users get started with the system.
No added fees
All you need to pay with this platform is the monthly subscription charges. Unlike some other platforms, they don’t charge you anything for the profits you make.
Here, you can backtest your configurations and strategies. As such, you don’t need to create simulations of your trading. This is a great way to find out whether your trailing stop-loss, stop-loss, and other settings are correctly configured.
Disadvantages of Cryptohopper
Let’s look at the disadvantages:
Limited features with free plan
To truly experience the power of this crypto bot, you need to invest in one of the paid plans. The free plan only lets you trade in a limited number of coins.
On-call support not available
You cannot contact customer support via telephone. This means you will need to wait a while before getting assistance.