Overview of Cryptohopper trading bot
Automated trading with the help of crypto-traders bots (crypto bot) is gaining momentum. This is a great chance to automate trading. You only need to enter into the settings of the bot a certain algorithm of actions that will be based on your trading strategy.
Cryptohopper is a popular bot crypto that was founded by two brothers. One acted as a web designer and the other was a professional trader.
How Cryptohopper works
By linking the bot cryptocurrency to your own account on a cryptocurrency exchange, you can set up automatic trading through the bot functionality. In fact, this program will make trades on your behalf based on certain rules that you have entered in its settings.
To bind the cryptobot with your account, you need to use an API key. You can find it in your account on a cryptocurrency exchange. Cryptohopper supports work on several exchanges at once:
- BitPanda Pro;
- Coinbase Pro;
By linking several accounts to the crypto bot at once, you can significantly increase the efficiency of automated trading, as the bot will be able to conclude suitable deals on several platforms at once.
First of all, the principle of cryptobot’s work consists in technical analysis of the market, if the conditions match the settings, the bot makes a deal. It will repeat such trades until the user changes its settings.
Automatic trading may look very easy, but the trader should still monitor the market. If you don’t change the bot’s settings in time, you can miss out on profitable deals or even lose your deposit.
Advantages and disadvantages of Cryptohopper
Cryptohopper is popular among a large number of traders for a reason. The developers of this cryptobot (cryptobot) to users the following advantages:
- 12 compatible exchanges;
- The bot is easy to configure and use, friendly to beginners;
- training courses within the platform;
- ready strategies from developers are available.
Cryptocurrency bot Cryptohopper has no particular disadvantages. The only thing that can be noted is the need to pay extra money for the full list of platform features.
The functionality of different cryptocurrency bots. Cryptohopper offers a really wide set of options for users, but their availability depends on the chosen package.
Pioneer is a free package that is available to every client. It is available for 20 positions, manual trading, compatibility with all exchanges and the ability to manage a portfolio.
Explorer – $19 per month. A free 7-day version is available. By signing up for the package, the user receives:
- 80 positions;
- the ability to add to the trade 15 assets;
- 2 triggers for trading;
- Automatic technical analysis every 10 minutes;
- the ability to simulate the actions of the trading bot (to check the settings).
Adventurer – $49 per month. For the package you get:
- 200 positions;
- 50 coins maximum;
- 5 triggers;
- technical analysis every 5 minutes;
- bot simulation;
- exchange arbitrage.
Hero – $99 a month. You will have access to:
- 500 positions;
- 75 coins maximum;
- 10 triggers;
- Technical analysis every 2 minutes;
- market arbitrage;
- market making;
- beta version of intelligent algorithm.
Cryptocurrency bots are a great way to make trading more efficient. With Cryptohopper you can count on additional profits if you correctly understand how to set it up.