Un-biased Review on the crypto trading bot platform Cryptohopper
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We have been vividly using the Cryptohopper trading bot for some time now. Here is a deep insider review of this crypto trading bot platform.
Why you should choose this?
* Ease of use ( 8 / 10 )
The User Experience is amazing. Upon first time login users get a plethora of options to checkout. Every section, button, module is well documented. You can never get lost. Extra care has been taken to stubbornly make you understand everything.
* Multi-pair scanning ( 7 / 10 )
If you are a mid level trader with good trading knowledge and experience, this is for you. Cryptohopper trading bot allows you to scan multiple pairs at the same time. This gives you a wide vision of the results based on various pairs. Can help in making better trading decisions and overall strategy.
* Templates ( 8 / 10 )
Cryptohopper certainly does have some incredible features that are not seen in other Crypto trading Bots. You get many options to pick and choose from when creating your templates. One of the remarkable thing in this crypto trading bot is that you can hold a specific signal over a preset number of candles.
* Strategy marketplace ( 7 / 10 )
You can think of this like an App store but for buying strategies. Experienced developers and traders have an option to sell their strategies in Cryptohopper marketplace. You can pick and choose the right strategy for maximum profits. You can also read previous reviews and make an informed decision. The downside is only some strategies are available for free by default. Many you would need to buy ( on top of the fee you pay for subscription ). We would also like to give a double thumbs up for the Strategy builder module. ( Room for improvement: When there is an issue or a bug in the strategy, the vendor of the strategy and Cryptohopper should work together to solve it. At present there is a lot of finger pointing among Cryptohopper and the vendor when a bug is reported. They blame each other )
* Portfolio management ( 8 / 10 )
This one an added bonus. We all know maintaining multiple accounts in various exchanges can become a daunting task to maintain. At one point we would definitely need a common place to manage and monitor all our holdings across all exchanges. Once you connect various exchanges to your Cryptohopper trading bot, you get a spectacular view of all your assets. This can be the best portfolio manager you could ask for 🙂
* Support ( 7 / 10 )
There is a built in A.I. bot that gives you support. Even though this does a good job at the base level, you would need to speak to an agent for specific issues. Yes, you get connected to the support team if needed. They answer your questions promptly. But the solution can vary based on your needs. ( Room for improvement: Would be awesome if the new support agent assigned each time does not pull a new angle to the conversation. They should be trained to check the previous conversations and follow track )
* Connectivity ( 9 / 10 )
You get to connect with every major exchange in the world. The process to connect is made extremly simple by just pasting your API key. Some smaller exchanges are yet to get added. But the Cryptohopper team is working on this quick and adding more on the go.
* Pricing ( 6 / 10 )
Cryptohopper is for sure prices its customers on the higher end when compared to competition. Though its not a big issue, it can create loss for new crypto traders who dont see a profit quickly. Cryptohopper provides an over all discount when subscribed for an year, but again how many would jump to immediately take it up for a year. You get access to certain features only if you go up the pricing plan. You get only 1 bot per subscription and experienced traders who need many bots would need to pay more. Obviously what all are looking for a Pay as you go pricing model.
* Crypto Payments ( 4 / 10 )
This seems to be a gray area. Most of the time when you try to make a payment using crypto, it ends up in frustrating hassle. The time it takes to sucessfully subscribe is way beyond reasoning. Also, no clear instructions on what can happen due to volatile markets, withdrawal fee etc. during sending out crypto. A crypto trading bot of this size would take care of all these nuisances and make it easy for the user to pay with crypto. Or just not have crypto payments at all ( and that would be an irony for a crypto business to not accept crypto payments)
* Getting started ( 6 / 10 )
Well, this is an issue with any crypto Trading Bot. Someone got to solve this. For beginners, any trading bot in the market is quite difficult to get their head around with. We are still looking out for a solution that just takes in the API key of exchange and starts doing its job. The user is just interested in seeing the results of the trade executed everyday and profits rolling in. Its that simple an ask. Or is it too much to ask for?
* Constant Exchange connectivity ( 6 / 10 )
This is something that Cryptohopper needs to work on more and fix it directly with the exchanges. Though it is no fault of this Crypto trading platform, it can affect the overall UX if not attended to. Some smaller exchanges create a problem when connected. It is definitely an issue with the API of the exchange. But again, Cryptohopper needs to take it up with the specific exchanges and fix it. Or this issue needs to be told to the users clearly when connecting to that respective exchange.