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Cryptohopper is a revolutionary cryptocurrency trading bot that works on autopilot. The bot allows you to buy and sell Bitcoin and other altcoins and is programmed to detect the best times to buy and sell your cryptocurrencies. It has the technology to scan markets at the lowest prices to place purchase orders. So he sells the crypt once the operations have moved into considerable profits.
He says trading has never been easier when using the bot, because it does all the hard work for you.
A big advantage of Cryptohopper is that it eliminates the need to spend hours learning and mastering how the market works and how to trade. This makes it very profitable for traders who do not have much time available full-time to sit for hours watching their cryptocurrencies.
The bot is able to connect to your current exchange platform, which means you do not have to move your money around because it uses the money in your wallet to trade. This helps reduce transaction time and costs.
Exchanges supported by Cryptohopper
Cryptohopper features
Here are some of the features that Cryptohopper has to offer:
Cloud-based
Cryptohopper is completely cloud based and works 24/7. It also has the additional advantage of automatic updating, which means that it is not necessary to update it manually each time it creates a new feature.
Bot models for trading
The templates feature allows you to save and load your customized templates to change and configure your trading bot. Templates allow you to build your own strategy when trading cryptocurrencies. Several models are needed to allow the robot to adapt to changes in market conditions. These models can then be linked to certain triggers such as price movements and fluctuations so the bot knows how to respond accurately.
Trailing stop
This feature allows you to have laser-focused tracking of all your investments. One of the most difficult tasks in trading can be to sell and make a profit at the same time. They can also take days or weeks to reach target returns. However, with trailing stops, Cryptohopper allows you to be free and unblocked on your computer screen. It manages all the complicated parts of trading with its multiple tools.
Backtesting
The backtesting function uses insights from the past to predict the future, which can be a very useful tool when trading. The tool allows you to test your crypto strategy, ie it will use every single currency in your exchange and will evaluate its real life data table to find out the best times to buy and sell. Backtesting is known to be one of the most important ways to fine-tune strategies and teach you how to trade.
Risk
Trading bots are not perfect, so there's a certain amount of risk if you choose to use one. First, you not only trust your money with a third party, but if the source code is not open, you will not know the quality of the software. If you have to follow the path of a bot, make sure it is reliable and has a proven track record.
With the ever-evolving and evolving cryptocurrency market, robots must be adapted or constantly updated. One way to increase trust in the bot would be to start with small amounts and accumulate slowly once you get this trust.
Remember, however, that any investment in a trading bot will be intrinsically linked to risk. This is on top of the risk already associated with cryptocurrency trading, so always remember to never invest more than you can afford to lose.
If you want to know more about cryptocurrencies and trading, we have a range of cryptocurrency guides on our website along with the latest cryptocurrency news.
