Cryptohopper review 2024: Pros,cons and more

Our Verdict

Our Verdict

Cryptohopper is a cloud-based platform for trading cryptocurrencies, catering to both novice and seasoned traders. Users can either design their own trading bots or select from a range of pre-existing bots. Additionally, the platform provides various tools for backtesting and overseeing the performance of your bots.

Pros

• Enables continuous bot trading round the clock
• Provides copy and social trading opportunities
• Incorporates trailing stop-loss and stop-buy features

Cons

• Reliance on the linked exchanges
• Inherent risks of market fluctuations are present
• Subscription costs for advanced functionalities might be steep for certain traders

4.6

Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Starting price

$24.16(when paid annually)

KYC/AML verification

None

Limitations

It lacks automated trading bots and advanced functionalities

What is Cryptogopper?

Cryptohopper stands out as a premier automated crypto trading bot, enabling users to engage in hands-free transactions for buying and selling altcoins. Operating around the clock, the bot analyzes the market and executes positions according to users' trading strategies and preset parameters. It diligently scans for the most favorable prices to optimize profits. This innovative trading robot seamlessly integrates with top crypto exchanges like Binance and OKX, facilitating real-time cryptocurrency trading.

Ruud and Pim Feltkamp established Cryptohopper in 2017, aiming to streamline and enhance crypto trading accessibility for all. The platform provides automated trading bots that function continuously, enabling users to trade effectively and devoid of emotional influences.

It integrates with various crypto exchanges, allowing users to oversee their portfolios through a unified interface. Additionally, users can mimic strategies from seasoned traders or utilize the platform's AI for automated trading decisions.

This review of Cryptohopper showcases how users can utilize the platform's advanced features, such as market-making and arbitrage strategies, and engage in trading competitions.

Our assessment of Cryptohopper

Cryptohopper offers a flexible platform catering to crypto traders of all skill levels. Its attributes encompass automated trading bots, thorough market analysis tools, and an intuitive interface.

Our evaluation of Cryptohopper underscores its provision of resources for automating strategies, managing risks, and diversifying portfolios. Its dedication to security and privacy, alongside its adaptable trading algorithms, renders it a dependable and effective solution.

How does Cryptohopper work?

Cryptohopper is a rapidly growing auto-trading platform facilitating millions of monthly transactions. Its objective is to democratize and enhance crypto trading for both novices and seasoned traders through a suite of user-friendly yet robust tools.

Functioning as a comprehensive trading ecosystem, the platform enables users to automate their trading strategies, manage portfolios across multiple exchanges, and access various technical analysis resources.

A pivotal feature of Cryptohopper is its automation capability, allowing users to deploy trading bots programmed to execute transactions based on predefined criteria and signals. These bots operate continuously, mitigating the risk of missed opportunities due to time zone disparities. Moreover, automation minimizes the emotional aspect of trading, a common challenge for many traders.

The platform utilizes both technical and fundamental analysis tools to scan the cryptocurrency markets for potential opportunities. This functionality empowers traders to make well-informed decisions by leveraging current market trends and data.

Cryptohopper's algorithmic trading is another notable feature, enabling traders to devise, test, and execute intricate trading strategies. With an intuitive interface, traders can design algorithms without requiring extensive programming expertise. This broadens access to sophisticated trading strategies, previously accessible only to individuals with a technical background.

Features

This review of Cryptohopper underscores the platform's distinctive tools and features tailored for both novice and experienced cryptocurrency traders. Some standout features include:

Automated trading

 Cryptohopper facilitates automated trading through bots that operate continuously, executing trades based on predefined criteria and strategies, even in the absence of active market monitoring. This functionality minimizes emotional trading decisions and allows users to customize strategies to match their risk tolerance and objectives.

Portfolio management

Users can connect and manage multiple exchange accounts within Cryptohopper, offering a consolidated view of their cryptocurrency portfolio. The platform can automatically rebalance portfolios, ensuring alignment with strategic goals and desired asset allocations over time.

Trailing features

 Cryptohopper's trailing stop-loss feature dynamically adjusts trading strategies to protect profits and limit losses. Unlike conventional stop-loss orders set at fixed prices, trailing stop-loss orders adjust as cryptocurrency prices fluctuate, trailing the price by a predetermined percentage or amount.

Copy trading and social trading

Cryptohopper facilitates automatic copying of successful traders' trades, allowing users to benefit from experienced traders' strategies. The platform also fosters a social trading community where users can share insights, discuss strategies, and stay informed about market trends.

Pro tools

 Advanced tools such as dollar cost averaging (DCA), market making, and arbitrage are available on Cryptohopper. These tools help users exploit market inefficiencies for potential profits and access comprehensive charting tools at no extra cost.

AI and algorithmic trading

 Cryptohopper employs AI to analyze market trends and automatically adjust strategies. The AI-driven algorithmic trading system adapts to changing market conditions, enhancing the potential for profitable trades. Additionally, Cryptohopper's AI conducts automatic backtesting of strategies, enabling traders to evaluate their effectiveness without risking actual funds. This feature is valuable for refining trading approaches and gaining insights into market dynamics.

Is it possible to generate profits using Cryptohopper?

The possibility of earning profits with Cryptohopper largely hinges on the selected trading strategy. The platform's automated trading bots adhere to predetermined strategies, executing trades based on market analysis and trends, positioning it as one of the premier crypto auto trading platforms to monitor.

This automation has the potential to yield profits, particularly in volatile markets where precise timing and swift responses are essential.

Furthermore, for individuals lacking experience or confidence in devising their own strategies, Cryptohopper offers a copy trading feature. By emulating the trading actions of seasoned traders, users can leverage their expertise and strategies, potentially resulting in profitable trades.

It's worth noting that Cryptohopper incurs subscription fees, which should be factored into the assessment of potential profits.

Cryptohopper offers a range of tools including DCA, market making, arbitrage, and trailing features, all crafted to enhance trading strategies and adapt to diverse market conditions. For example, DCA aids in mitigating the impact of volatility by spreading asset purchases over time.

Moreover, the platform incorporates crucial risk management functionalities such as stop-loss orders, crucial for mitigating losses during market downturns.

Additionally, Cryptohopper provides educational resources and a community for traders, where active participation can enhance trading skills and strategy development, thereby augmenting the likelihood of executing profitable trades.

Cryptohopper pricing and fees

Understanding the pricing and fees associated with Cryptohopper is essential for those considering its use. While the free plan serves as a good starting point, the paid plans offer more comprehensive features for serious traders. Users should evaluate their trading needs and financial constraints when selecting a plan.

Here's a concise breakdown:

Free pioneer plan

• Cost: Free
• Features: This plan provides basic functionalities such as manual trading and portfolio management across multiple exchanges.
• Limitations: It lacks automated trading bots and advanced features.

Explorer package

Monthly cost: Starting at $24.16 (when paid annually)

Key features:

• Up to 80 positions per exchange.
• Strategy interval checks every 10 minutes.
• Access to strategy designer tools.
• Paper trading (simulated trading) and backtesting capabilities.
• Includes two event-based triggers and backtesting capabilities.

Suitable for: Beginners venturing into automated trading.

Adventurer package

Monthly cost: Approximately $57.5 (pricing may vary based on promotions or payment frequency)

Key features:

• Increased open positions per exchange.
• Faster strategy interval checks (5 minutes).
• More event-based triggers (5 total).

Suitable for: Intermediate traders requiring enhanced capacity and quicker response times.

Hero package

Monthly cost: Starts from approximately $107.5 per month when billed annually.

Key features:

• Up to 500 open positions per exchange.
• 2-minute strategy interval checks.
• Capability to scan markets with the power of 75 bots.
• Access to 10 event-based triggers.
• Advanced features such as AI strategies, market-making, arbitrage trading, and additional technical indicators.

Suitable for: Experienced traders seeking comprehensive tools and features for advanced trading strategies.

Additional considerations

• Trial periods: A 3-day free trial is available for the Explorer package.
• Subscription flexibility: Monthly and yearly payment options are available, with the yearly option offering significant savings.
• Copy bot trading: Separate fees ranging from $9.99 to $99.99 monthly apply for using copy bots.
• Minimum funds for trading: Varies by exchange; while trading with as little as $20 might be possible, users should consider subscription costs.
• Multiple bots: Users can operate multiple trading bots on a single account, although each subscription allows for one bot and one paper trading bot.
• Refunds: Cryptohopper may offer refunds within two weeks of purchase for certain subscription plans.

User experience

Cryptohopper offers a straightforward registration process where users can swiftly begin by linking their cryptocurrency exchange accounts through API keys. It supports a variety of popular cryptocurrencies and is compatible with major exchanges such as Binance, Bitfinex, and Coinbase Pro.

The platform boasts a user-friendly interface that is easy to navigate, particularly suited for newcomers to cryptocurrency trading. The dashboard provides a concise overview of essential functions.

With its blend of advanced trading tools and accessible design, Cryptohopper caters to both experienced traders and beginners. The drag-and-drop bot designer is a standout feature, enabling users to create automated trading strategies without requiring programming skills. Users can effortlessly select indicators, establish buy or sell conditions, and configure key parameters like volumes.

Cryptohopper prioritizes user education and support. It offers resources such as the Cryptohopper Academy, paper trading accounts for risk-free strategy testing, and a community forum, all aimed at assisting new traders and easing them into the platform.

The marketplace is another standout feature, granting users access to pre-programmed trading bots and strategies developed by fellow traders. It presents both free and paid options, along with transparent performance histories and user feedback to aid decision-making.

Being cloud-hosted, Cryptohopper ensures accessibility across multiple devices, including web browsers, smartphones, tablets, and even smartwatches, enabling users to monitor and trade continuously.

Additional features enhancing user experience

• Tournaments: Cryptohopper hosts trading competitions, providing users with an engaging platform to test their trading prowess.
• 24/7 support: The platform offers round-the-clock customer support, promptly addressing user inquiries and concerns.
• Global accessibility: Cryptohopper caters to a diverse global audience, with customizable tools and settings tailored to different trading preferences.

Where is Cryptohopper usable?

Cryptohopper is a versatile cryptocurrency trading bot that operates across multiple cryptocurrency exchanges.

By connecting to exchanges using API keys, Cryptohopper executes trades on behalf of users while their funds remain on the exchange.

Users can manage multiple exchange accounts simultaneously, giving them a comprehensive view of their cryptocurrency portfolio.

Catering to traders of all skill levels, Cryptohopper offers a range of tools and features designed to meet different trading needs.

Exchanges supported by Cryptohopper

Cryptohopper seamlessly integrates with numerous prominent cryptocurrency exchanges, facilitating users to connect the Cryptohopper trading bot with their preferred platforms. Among the top exchanges compatible with Cryptohopper are:

• Binance and Binance US
• Coinbase Pro
• Poloniex
• Kraken
• Bitfinex
• KuCoin
• HitBTC
• OKX (formerly OKEx)
• Bitvavo
• Crypto.com
• EXMO
• Bybit
• Coinbase Advanced
• BingX
• Moreover, Cryptohopper supports various other exchanges as well.

Restrictions and limitations

Restrictions and limitations are inherent to each exchange and are also applicable when using Cryptohopper. These may include minimum trade volumes, available trading pairs, and geographical restrictions that affect users' trading activities. Users should ensure compliance with local regulations governing cryptocurrency trading.

Moreover, depending on the chosen subscription plan, users may encounter limitations on factors such as the number of positions they can open, the frequency of strategy checks, and the number of triggers they can set.

Cryptohopper customer support

Cryptohopper boasts robust customer support services, offering multiple channels for assistance, high customer satisfaction, and round-the-clock accessibility. This comprehensive support system is particularly beneficial for novice investors navigating the complexities of cryptocurrency trading.

Channels of support include

• Email support: Users can reach out to the support team via email at [email protected] for detailed queries and technical assistance.
  
• Live chat: The platform provides a live chat feature for instant responses to user queries.
  
• Help center: An extensive help center comprising FAQs, guides, and articles is available on the Cryptohopper website to assist users.
  
• Social media platforms: Cryptohopper maintains an active presence on various social media platforms, offering additional avenues for support and updates.

Cryptohopper utilizes a support ticket system for customer service, requiring users to have a Cryptohopper account. Through this system, users can submit support tickets to address their issues or queries effectively.

Customer reviews on platforms like TrustPilot often highlight Cryptohopper's effectiveness and the quality of its support services, reflecting a high level of customer satisfaction and trust. This stands in contrast to some other players in the crypto space, such as Binance, which may have lower ratings in certain aspects of customer service.

Is Cryptohopper considered to be secure?

When using an automated crypto trading bot such as Cryptohopper, safety is a primary concern for novice investors. Cryptohopper assures users of data privacy, affirming that user data won’t be shared without consent.

Here’s an outline of the safety measures employed by Cryptohopper to ensure a secure trading environment:

• Advanced security measures: Cryptohopper utilizes advanced encryption technologies to safeguard sensitive user data and communications. Additionally, users have the option to enable two-factor authentication (2FA), adding an extra layer of protection to their accounts and thwarting unauthorized access.
• Collaboration with exchanges and regular audits: The platform collaborates closely with exchanges and regulatory bodies to ensure compliance with financial regulations and industry standards. Furthermore, it undergoes routine security audits to identify and address potential vulnerabilities.
• API key utilization: When users link their exchange accounts to Cryptohopper using API keys, they can configure settings to restrict the bot's withdrawal capabilities. This means that while the bot can execute trades, it cannot withdraw funds from the exchange, significantly reducing the risk of fund misappropriation. Moreover, the API keys grant limited access to the account for trading purposes only, minimizing the impact of potential compromises.
• Cryptohopper reviews: With a substantial user base exceeding 774,000 traders, Cryptohopper has garnered numerous positive testimonials. User reviews often highlight the platform's reliability and security.
• Regular updates and maintenance: Regular software updates enhance security features and ensure that the platform remains resilient against potential threats. Cryptohopper maintains a dedicated team focused on continuous improvement and security, demonstrating a proactive approach to safeguarding user assets.
• Cloud-based operation: Cryptohopper operates on a cloud-based infrastructure, ensuring constant and reliable performance. This setup mitigates the risk of downtime, ensuring that trading strategies remain active at all times. Additionally, users can access and manage the platform from various devices, offering flexibility and continuous oversight of their trading activities.

Is Cryptohopper considered lawful?

Cryptohopper, a company registered in the Netherlands and operating under Dutch jurisdiction, is presumed legal within Dutch law, provided it complies with all applicable regulations. Its legality extends to numerous jurisdictions, including the United States, where cryptocurrencies are lawful and regulated. However, legality may vary depending on specific regulations governing cryptocurrencies and automated trading in individual countries. Cryptohopper's terms and conditions outline financial details, such as service fees and payment methods, typical of legitimate companies. Compliance with local laws and regulations regarding crypto trading is essential for legality in different countries.

Dash 2 Trade: Best alternative to Cryptohopper

Dash 2 Trade emerges as a promising platform for crypto analytics and trading, empowering traders to make informed decisions. Its comprehensive dashboard offers independent insights and reliable trading signals. The anticipated auto trading feature, slated for release in Q1 2024, will enable automated trading based on preset strategies.

Dash 2 Trade specializes in algorithmic trading, notably Dollar-Cost Averaging (DCA) and grid bot strategies, with plans for further bot expansion. Its backtesting functionality allows traders to simulate over 10,000 strategies and indicators. Detailed analytics cover more than 400 coin pairs, aiding traders in identifying profitable opportunities.

Dash 2 Trade utilizes the ERC20 D2T token, operating on the Ethereum blockchain, as the primary currency for its dashboards and other services. With a total supply of 1 billion tokens, the allocation strategy encompasses treasury, liquidity, public sale, and project growth.

The platform offers five educational guides aimed at enhancing traders' decision-making capabilities. Additionally, it intends to introduce "CopyBots" and a "Strategy Builder" to enhance the trading environment, enabling users to refine their trading skills comprehensively.

In conclusion, Cryptohopper emerges as a promising crypto trading platform suitable for both novice and seasoned traders. Offering a mix of automated trading bots, strategic tools, and portfolio management features, it prioritizes high levels of security, privacy, and compatibility with major crypto exchanges.

Although trading outcomes hinge on individual strategies and market conditions, Cryptohopper equips users with a plethora of tools to refine their strategies, including copy trading and advanced AI analysis. Its range of free and paid plans accommodates diverse trading requirements and financial constraints.