Cryptohopper Review [Complete Arbitrage Bot Review 2023]

Cryptohopper, a cryptocurrency arbitrage bot and trading platform, aims to make the process of crypto trading and strategy planning accessible and profitable for users. It is one of the most popular crypto trading bots on the market, with over 700,000 users.

In this review, we are going to examine the core features of Cryptohopper, including exchange integrations, bot customization options, marketplace, pricing, security, and more.

While Cryptohopper is one of the best arbitrage scanners in the market today, it is worth noting that we’d give the edge as currently the best-automated trading platform to ArbitrageScanner due to its impressive set of features, the ability to scan over 50 central and 25 decentralized exchanges, and more. In addition, new ArbitrageScanner users can get up to a 72% discount.

What is Cryptohopper?

Cryptohopper is a cloud-based cryptocurrency trading platform that offers a variety of features for both beginners and experienced traders. It allows users to create their own custom trading bots, or to use one of the many pre-made bots that are available. The platform also offers a variety of tools for backtesting and monitoring your bots.

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Cryptohopper arbitrage review 2023: Examining automated trading features

Cryptohopper offers a comprehensive suite of automated trading products and services, highlighted by its impressive crypto trading bot offering. In the following sections, we are going to examine these core features and modules and provide feedback on how they perform in real life. Read along to find out everything there is to know about the platform in our Cryptohopper bot review.

User interface

Cryptohopper features a useful Charts section that displays all the important information about a particular cryptocurrency in a single place.

Cryptohopper’s user interface is sleek and intuitive, making it accessible for both novice and experienced traders. Navigating through the platform is mostly a breeze, and the design is well-organized, helping users find what they need easily.

If there’s anything we missed when using the platform, it would be tooltips explaining each feature in mode detail. While experienced users won’t have any problems discerning between various candlestick patterns and technical analysis indicators, new users might struggle a bit in this area. 

Bot customization

One of Cryptohopper’s standout features is its bot customization options. Users can define trading strategies based on technical indicators, candlestick patterns, and even social media sentiment. This flexibility empowers traders to adapt to various market conditions and cater their bots to their specific goals. 

Automated trading bots can execute trades automatically based on predefined parameters, and allow users to pursue different trading opportunities, including exchange arbitrage and high-frequency crypto day trading. It is worth noting that you can use Cryptohopper to make manual trades in addition to automated orders. The platform offers pretty much every order type you’d ever need, including limit, market, trailing stop loss, and more.

You can easily create your own strategy for bot trading with Cryptohopper’s strategy designer.

Bots can be deployed on supported exchanges simply by connecting an exchange account. This makes it very easy to manage trading orders from a unified terminal, instead of jumping between different exchanges. If you want to use Cryptohopper bots to pursue arbitrage opportunities, it is essential that you use exchanges with strong liquidity, low fees, and API connectivity — check our list of the best crypto exchanges for day trading for more information.

Backtesting and simulation

Cryptohopper offers a powerful backtesting and paper trading feature. Backtesting allows you to test your trading strategies against historical market movements. Meanwhile, paper trading allows you to trade with virtual currency without risking any real money.

This enables users to test their trading strategies against historical data, helping refine their approach without risking real funds, making it a valuable tool for both beginners and advanced traders alike.

Marketplace for strategies 

Cryptohopper boasts a marketplace where users can buy and sell trading strategies. This feature creates a sense of community and allows beginners to learn from experts, and experts to monetize their expertise. The marketplace is a significant asset for traders looking to expand their knowledge and diversify their strategies.

Cryptohopper’s marketplace features hundreds of premade trading strategies.

The Cryptohopper marketplace allows users to buy premade trading strategies and put them to work with crypto trading bots. There are hundreds of different strategies available, differing in price range, trading approach, configuration, and more. You can request a refund within 30 minutes of purchasing a new strategy on the marketplace.

Social trading

Cryptohopper has put a lot of emphasis on developing different aspects of social trading over the years. The platform prominently features the most successful and profitable bots, which can be bought in the dedicated copy bot marketplace. You can also choose to subscribe to the best crypto traders and receive trading signals about potentially lucrative investment opportunities.

Contrary to trading strategies, which are mostly sold as a one-time purchase, copy bots come with a monthly subscription that can range anywhere from $9.99 to $49.99.

Copy bots are subscription-based and start at $9.99 per month.

Security and customer support

Security is paramount in the cryptocurrency space, and Cryptohopper takes it seriously. The platform employs strong encryption and two-factor authentication (2FA) for added protection. According to our research, Cryptohopper has never been a victim of a hack, which speaks to the platform’s security features.

To complement the robust security, Cryptohopper has various types of customer support, including live chat, forum, and support ticket system. While we didn’t have any problem during our time testing the Cryptohopper platform, we can confirm that the support team quickly responded to our live chat request.

Pricing

Finally, we arrive at pricing. Compared to Cryptohopper alternatives, Cryptohopper’s pricing structure is definitely on the competitive side. Starting at $16.58/month, the Explorer package allows users to open 80 positions on each exchange, scan markets with 10-minute intervals, use strategy designer, and simulate trading performance with paper trading and backtesting features.

It is worth noting that you can use the Pioneer plan for free indefinitely, which is not common among arbitrage scanners. On the other hand, the trial period for Cryptohopper Explorer lasts just 3 days, which is less than most competitors.

Cryptohopper’s subscription starts at $16.58 for the Explorer plan and goes up to $83.25 for the high-end Hero plan.

On the high end of the company’s offering sits the Cryptohopper Hero plan, which starts at $83.25/month. Here’s a quick Cryptohopper Hero review of the included features, as described on the homepage: 

• 500 open positions/exchange
• 2 minute strategy interval checks
• Scan markets with the power of 75 bots
• 10 event-based triggers
• A.I. strategies and A.I designer
• All coins for trading signals
• Market Making & Arbitrage
• Extra Technical Indicators

Compared to most other competitors, the pricing of Cryptohopper’s trading plans is more than competitive and provides good value, especially if you are buying an annual plan that further slashes the cost of the monthly subscription.

Cryptohopper review FAQs

Is Cryptohopper a scam or legit?

Cryptohopper is a legitimate cryptocurrency trading platform and arbitrage bot. It has been in operation for several years and has a user base that includes both novice and experienced traders. Cryptohopper provides various features and tools to help users automate their cryptocurrency trading strategies.

How does Cryptohopper work?

Cryptohopper works by allowing users to create and customize trading bots that execute trades on connected cryptocurrency exchanges on their behalf. 

How much does the Cryptohopper bot cost?

Cryptohopper offers different pricing plans with varying features and capabilities. The cost of using Cryptohopper depends on the plan you choose. Cryptohopper’s pricing plans range from around $16 to $83 per month, with discounts available for annual subscriptions. 

Can you make money with Cryptohopper?

Whether you can make money with Cryptohopper depends on several factors, including your trading strategy, cryptocurrency market conditions, and risk management. Cryptohopper provides tools to help automate and execute trading strategies, but success in crypto trading is not guaranteed.

Cryptohopper review verdict: One of the best crypto arbitrage scanners today

Cryptohopper is a comprehensive crypto trading bot and arbitrage scanner offering that has pretty much all the features and options that you could ever want. There are various trading bots available on Cryptohoper, including Manual Bot, Copy Bot, Trading Bot, Market Making Bot, Exchange Arbitrage Bot, and Triangular Arbitrage Bot. 

In addition to the high number of bots, Cryptohopper features a marketplace with user-created bots, and boasts a highly competitive pricing structure. Overall, Cryptohopper is definitely near the top of the list of best automated crypto trading platforms available in 2023. To see how it compares to other top tools in the space, check the following head-to-head comparisons:

If you prefer a comparison of the best arbitrage scanners in a video format, feel free to check our YouTube video that focuses on the 5 best crypto arbitrage scanners of 2023.

Images in this review were collected from the Cryptohopper platform.