Best Alternatives to CryptoHopper: Some Other Trading Bots to Automate Your Trades

Crypto Trading

Best Alternatives to CryptoHopper: Some Other Trading Bots to Automate Your Trades

Last Update: 2022-03-21

Best Alternatives to CryptoHopper: Some Other Trading Bots to Automate Your Trades

Crypto trading bots are all the rage right now and for good reason. They automate your trading and can help you to make more money. CryptoHopper is a popular trading bot that has been growing in popularity lately. However, there are some other great options available if you're looking for an automated trading solution. 

In this post, we'll take a look at some of the best alternatives to CryptoHopper. These bots can help you automate your trading and make more informed decisions about your investments. So, if you're looking for something that can help you take your trading to the next level, be sure to check out these alternatives!

What is CryptoHopper? 

CryptoHopper is a cloud-based, automated cryptocurrency trading bot that allows users to trade cryptocurrencies on exchanges. The bot can be used with a variety of exchanges, including Binance, Coinbase Pro, Huobi Global, and Poloniex. 

The CryptoHopper team is based in Amsterdam, Netherlands. The company was founded in 2017 by two brothers, Ruud and Pim Feltkamp. The whole team has a background in software development and web infrastructure. One of the great things about CryptoHopper is that it can be used by anyone, regardless of their experience level. 

It has a number of features that allow users to customize their trading strategies, including a stop-loss feature, a trailing stop-loss feature, and the ability to trade on multiple exchanges simultaneously. The platform also offers a mobile app for Android and iOS devices.

The CryptoHopper team provides a wide range of resources to help you get started, including tutorials, blog posts, and a support forum. CryptoHopper also offers the ability to backtest strategies, paper trade, and integrate market analysis. In addition, the platform has a large community of users who share their insights and strategies.

Data Value
Tradeable Assets 100+ cryptocurrencies
Platform Intuitive; combines expert-level features with beginner-friendly tools and setup options
Mobile App Fully operational mirrors the desktop platform
Account Minimum $0 to link your brokerage accounts; the recommended minimum is €300 for most exchanges
Available Account Type Cryptocurrency trading terminal

5 Best Alternatives to CryptoHopper

CryptoHopper is a great platform that allows you to trade cryptocurrencies automatically. However, it is not the only option out there and there are some great alternatives available. If you are looking for the best 5 crypto trading bots providers, then this list will be your answer. We’ve carefully selected each one based on its features and usability so that it can provide an excellent alternative to CryptoHopper. 

1. Altrady

The Altrady platform is an easy-to-use, feature-packed cryptocurrency trading software that enables you to take control of your own trading. Unlike other platforms, which require you to trade manually or copy the trades of others, Altrady provides you with automated tools that do the hard work for you.

Altrady Smart Orders gives traders the tools to simplify and automate their trading from a single dashboard. With this innovative platform, you can view all of your positions in one place with quick updates on performance. Also, you can check detailed historical data for analysis before making any decisions about future trades.

With Altrady, you can view all of your trading and HODLing accounts in one place. You'll never have to worry about losing track or forgetting when it comes time for payouts again. The charts are perfect for traders looking to zoom in on a single cryptocurrency exchange or monitor several at once. With customizable options like zooming and filtering, you can find what's most informative with ease. 

Over this, the Crypto Base Scanner tool help traders in finding the best entry points for their money. It will be scanning through markets and notify you when it finds something likely going up in value. In comparison, the Quick Scan feature is like having an inside track on all of the market’s important events. You'll be able to take advantage any time with this quick scan.

Pros:

  • Single platform for trading on multiple exchanges
  • Real-time market data and analysis tools
  • Alert system to notify users of market conditions and price movements
  • Mobile app for iOS and Android devices

Cons:

  • Some beginners may find it difficult to use
  • A relatively new company, so there is some risk involved

    2. Bitsgap

The Bitsgap platform is a one-stop-shop for cryptocurrency traders who want to manage their trades across multiple exchanges in an easy, intuitive interface. With this innovative platform, you can monitor all of your holdings on up to 30 different crypto wallets without having to log in to each individual account again.

Bitsgap has many features that make trading easy and profitable. It includes automated bots to set up a buying strategy, total portfolio management, monitoring holdings order statuses. Apart from that tracking open positions from exchange monitors for smart trades like placing take profit or stop-loss simultaneously while you watch the charts.

The Bitsgap platform offers an arbitrage opportunity by providing one easy-to-view format where you can see the purchase price, selling prices, and potential profits. You need connected accounts via API for this feature of their service but it is worth checking out if your trading balance permits.

New traders might find the Bitsgap platform to be overwhelming with all of its features, but experienced users will love how accessible and easy-to-use it is on both desktop and mobile devices. The demo mode allows beginners a chance to learn about trading without risking any funds which help them get comfortable before they start investing real money.

By implementing 2FA and email confirmation of unknown device logins, users can ensure that their account is secure. API keys allow them access only to trading history and balanced view. So, the user's funds stay on exchange accounts throughout any transaction process.

Pros: 

  • Provides users with detailed information about the cryptocurrency market.
  • Offers portfolio manager, arbitrage opportunities, and bot trading. 
  • Supports multiple exchanges and has a low 0.1% trading fee.
  • Access to detailed information about individual coins.
  • Highly secure mechanism.

Cons: 

  • Does not currently support margin or futures trading. 
  • Not available in all countries.

    3. 3Commas

Trading with the 3Commas trading terminal is easy and versatile. The wide range of automated bots means you can configure them for round-the-clock execution, which makes it possible to trade anytime anywhere. It also simplifies your process by allowing everything from finding an opportunity right down to executing a strategy.

With its accessible and intuitive functionality, the 3Commas platform is friendly towards users with no technical or financial background. The automation tools available allow you to optimize your own trades in an easy-to-follow format whether it be on a web browser or through their mobile app.

The new Smart Trade Terminal from 3commas will revolutionize the way you trade. With an array of customizable indicators and additional functions like alarms when prices reach certain levels, this impressive feature is sure to meet all investors' needs.

3Commas Trading bots are the perfect way to invest your money without having to worry about anything else. You can choose how much risk you want, when it's best for trading in certain markets, all based on what kind of skillset or goal set out ahead.

The bots provide traders with a variety of options to choose from, including pre-built bots tailored for beginners or custom strategies that experienced players may find useful. The statistics provided by 3commas as well as the ability to track one's own performance are what make this platform so versatile.

With 3Commas, you’ll never be at a loss for inspiration when it comes to trading. The platform is supported by 23 major cryptocurrency exchanges including Binance and Bitmex. Not only does this give traders access to countless options but also serves as an easy way of staying up-to-date on what's happening within the industry. 

Pros: 

  • Allows you to trade on multiple exchanges simultaneously. 
  • Ability to set up your own custom trading bot. 
  • Can help you manage your portfolio more effectively. 
  • You can back-test your trading strategies.
  • Can paper trade to test out your strategies. 

Cons:

  • It can be relatively expensive. 
  • Customer support is not always the best. 
  • Some people find the interface a bit complicated.

    4. CryptoHero

CryptoHero is an automated cryptocurrency trader that makes profits for you by following in the footsteps of successful traders like Bill Miller. With their years-long experience and cutting-edge AI technology, they promise to deliver better returns than any other bot out there on platforms such as Binance or Coinbase Pro.

The trading bot was created by experienced fund managers who have been in this business since before most people knew what cryptocurrency even meant. With over twenty years’ experience, these guys know their stuff and can help you make money with some serious expertise.

The AI-optimized bots go through simulations and give you information about the best opportunities in the market. The trading robot has an easy-to-use interface that allows you to set both entry and exit conditions. It also provides different types of indicators for checking trends in the market, which makes it perfect if your goal is simply investing rather than day trading or scalping stocks quickly.

By running your strategy through backtesting, you can see how well it would work in different types of market conditions. This way, if the strategy isn't felt fully confident with its effectiveness or profitability then we'll know before putting real money online.

CryptoHero offers a free version for you to test the waters before committing. The company also has affordable pricing plans, so no matter what your budget is they have something perfect just waiting.

Pros: 

  • Ability to manage multiple accounts at once.
  • Offer facility to backtest strategies.
  • Available on multiple devices.
  • Has a secure wallet that protects users' funds. 

Cons: 

  • Does not offer fiat support.
  • known to be unreliable at times.

    5. Coinrule

Coinrule is an AI-powered, cloud-based trading platform that simplifies the process of cryptocurrency investment for traders. It was founded by Gabriele Musella and Oleg Giberstein who found out there were too many unnecessary complicated steps involved in cryptocurrency investments. 

With Coinrule, you can set up your own automated trades with ease and never miss a rally or get trapped in an exchange dip. You don't need any coding skills. The bot is fully customizable so it operates as less of a black box for users who want full control over their investing strategy.

The Coinrule has dozens of templates available and you can create your own strategy with unlimited options. It’s easy to test them on the demo exchange before connecting it up in real life, where withdrawal rights won't be required - meaning that all funds are safe.

The API uses military-grade encryption for keys so they're not accessible maliciously by anyone who gains access. There's also two-factor authentication included just because we know how much peace this brings into our lives.

The Coinrule platform is the go-to for traders who want power and performance in their trading, with features tailored to each user's needs. Whether you're a professional investor or just starting out, there are options available on this market maker that will fit whatever type of trader may be at hand.

Finally, Coinrule's trading community is a friendly and helpful bunch, with an extensive tutorial section to teach newcomers how they can make the most out of the platform. One-on-one sessions are also available for those who need extra guidance.

Pros:

  • Outstanding customer service.
  • Doesn't access private keys.
  • Advanced trading indicators.
  • Several pricing plans with promotions.
  • Clean dashboard to keep track of your results across exchanges

Cons:

  • Trades only on centralized exchanges
  • No mobile app

Advantages Of Using Trading Bot

Although there is a long list of advantages that you can get by using trading bots. However, we would like to mention the top 6 of them.

You can trade 24/7

One of the main advantages of using a trading bot is that it can trade 24/7, even when you are asleep. This is because bots do not get tired and can work for longer hours than humans.

Bots can execute trades faster than humans 

Another advantage of using a trading bot is that they can execute trades much faster than humans. This is because bots do not have to go through the same process of decision-making that humans do. They simply follow their programmed rules and make trades accordingly.

Bots can handle more trades than humans 

Since bots can trade 24/7 and do not get tired, they can handle many more trades than human traders can. This can result in more profits for the trader.

Bots can trade in multiple markets 

A bot can also trade in multiple markets simultaneously, which gives it an advantage over human traders who can only trade in one market at a time.

Bots are not influenced by emotions 

One of the biggest disadvantages of human traders is that they are often influenced by their emotions, which can lead to bad trading decisions. bots, on the other hand, are not influenced by emotions and make trades based on their programmed rules alone. This leads to more consistent and profitable trades.

Bots are cheaper than human traders 

Another advantage of using a bot is that they are much cheaper than hiring a human trader. This is because bots do not need to be paid a salary or given benefits. They simply need to be purchased and then they can start trading.

Risks Involved in Using Trading Bots

When considering using bots, you must be aware of the risks involved in this phenomenon. Here is the list of a few risks that need to be tackled well to secure your investment. 

Security risks 

Trading bots connect to your exchanges and place trades on your behalf. This means that they have access to your account information and can potentially make unauthorized trades or withdrawals. It is important to only use trading bots from reputable sources and to never share your exchange login information with anyone.

Market risks 

The cryptocurrency market is highly volatile and subject to sudden changes in price. This means that there is always the potential for loss when using trading bots, even if they are well-designed and have a good track record. Always be sure to carefully monitor your bot’s performance and make sure to have a solid exit strategy in place.

Unexpected downtime 

Trading bots can be subject to unexpected downtimes, which can lead to missed opportunities or losses. Always be sure to have a backup plan in place in case your bot goes offline.

False signals 

Trading bots rely on algorithms to place trades. These algorithms can sometimes give false signals, resulting in losses. Be sure to always test your bot’s algorithms thoroughly before using them in live trading and be prepared to quickly exit any unfavorable positions.

FAQs

Which bot is the best for me?

The best bot for you will depend on your individual needs and preferences. Some factors to consider include the exchanges you want to trade on, the features you need, and your budget. 

Are trading bots safe to use?

Most bots are safe to use as long as you choose a reputable provider. However, it's always important to do your own research to ensure the safety of any bot you use.

What features should I look for in a bot?

Features vary from bot to bot, but some common ones include stop losses and take profits, price alerts, and trade copying. 

How much do bots cost?

The cost of bots varies depending on the features they offer. Some providers have free plans while others charge a monthly fee.

Conclusion

Now you have 5 options other than CryptoHopper. Each of these bots has its own strengths and weaknesses, so be sure to do your research before choosing one. No matter which bot you choose, always remember to practice risk management and use stop-loss orders to protect your investment.

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