Cryptocurrencies are the new money and it’s turning ordinary people into millionaires in just a short span of time. In this article, you don’t have to understand complicated crypto investing strategies to make big gains. Instead, you can make use of an automated cryptocurrency bot that will make digital coins for you.
What is a cryptocurrency bot?
A cryptocurrency bot employs current indicators, buying and selling cryptocurrencies for users at a profit. This was so you could put down the profit you wanted to make. You can consider setting the percentage however you want to, and the bot will make all the trades for you.
Now let’s get down to the business.
There isn’t only one crypto bot trading app in the market, so you need to choose one that suits you best. To name a few, there’s Pionex, Cryptohopper, CoinRule, TradeSanta, HaasOnline, and Zignly. Among these good crypto bots, CryptoHopper is the pick of the bunch.
Cryptohopper in a Glance
Cryptohopper is a broad-gauge trading avenue that intends to make investing in cryptocurrencies simpler and more spontaneous. Anyone can automate their investing processes, imitate professional crypto traders, set signals and alerts with the help of a single mobile app. Through Cryptohopper, investors can keep watching the market anytime and anywhere, regardless of the coin they trade.
Users can enjoy some of the most advanced features when it comes to cryptocurrency trading. However, aspiring investors are demanded to bet their money on the platform to benefit from its newfangled hallmarks. There is no need to pay a per-trade commission, though!
With this bot, you can trade 24/7 without any distraction.
No least possible amount is asked to get started with Cryptohopper, but it beats the drum for users to deposit a minimum of €300 to your exchange. The recommendation was made to spread risk between multifarious transactions while getting together all minimum trade requirements.
The platform offers various packages for users:
- Pioneer Package. This is a free package that users can access for mirror trading, paper trading, strategy designing, stop loss trailing, and strategy designing.
- Explorer Package. This package incorporates one simulated trading bot, 80 positions, and an utmost of 15 chosen coins and two triggers. You can level up your trading game with this package since this has the automatic trading feature that will automatically recognize trends and deviate to a better strategy. The Explorer package costs $19 per month.
- Adventurer Package. This is a $49 worth package, which includes all the basic functionality that is available in the explorer package. However, this was a bit more expensive because this takes in access to a sweeping 50 coins, exchange arbitrage, and five max triggers.
- Hero Package. This package was designed for expert investors who are seeking comprehensive tools. Through this package, you have the privilege to enter about 500 positions simultaneously with up to 75 distinct coins, making use of 10 triggers and inexhaustible trading signals. An advanced technical analysis function can also be enjoyed in this package. Spending $99 per month may be a bit expensive, but the tools you’ll receive from this can give you gains that are way higher than that.
Cryptohopper was designed for everyone. You don’t need a complicated coding experience to begin.
Get Started with Automated Crypto Trading
Here are the simple steps you should follow to kickstart your journey in automated trading:
Step 1: Create a free account
In creating an account with Cryptohopper, you only need to fill up the necessary requirements asked — email, username, full name, and password. Then, of course, you need to agree to the platform’s terms of service to proceed. Click “Get Started.
Step 2: Connect your exchange account
To begin trading, you need to connect Cryptohopper to your exchange account since that is where all your funds are stored and exchanged. You can find the exchange you are using from the dropdown button. If you are yet to decide whether you truly want to trade in the platform and connect your exchange account, you could start with paper trading, where you can trade with fake money to test the platform out.
After choosing which exchange account you will use, you need to give out your API key and API secret key. For instance, you use Binance. Just open Binance in your browser and copy the keys from API Management.
Configure the settings of your trading bot, then proceed to your hoppers (bots).
On the dashboard of your hopper, you’ll see various support sections you can run to in case you need help. In Documentation, you can get the materials that you need to train your skills in this field of expertise. Whatever it is that you need, Cryptohoppers customer support can assist you.
Step 3: Add a new hopper
Always remember that bots aren’t designed to make you wealthy, although their purpose can lead you there at some point. Basically, hoppers only do trade for you according to the data and signals that are coded into the platform.
You can choose from three options when creating a hopper: Auto Trading Bot, Arbitrage Bot, and Market Maker. The auto trading bot essentially configures your settings and trades on the exchange of your choice.
The arbitrage bot concomitantly buys and sells an asset to make a profit from a difference in price. And lastly, the market-making bot sets limit orders just outside the buy and sell prices, striving to make profits from the spread among two different orders.
Step 4: Configure your hopper (template)
You can actually configure one-hopper (template) on your own but doing so will take so much time and effort. Hence, it would be better if you would just pick one from the wide variety of choices you’re presented with. Once you’ve chosen the one you like, just click “Select” and then put in your API key if you want to trade in real-time. Then click “Save.”
However, rather than going real-time immediately, you could try paper trading first to ensure that the bot works well for you. Upon clicking Save, your hopper will instantly be set up, and you just have to proceed with the steps that will be handed out to you. Watch out for the tutorials that the platform recommends. Don’t skip them!
Step 5: Deposit money
If you go paper trading, you won’t need to use up your crypto holdings since you just have to inject fake money into the platform. Just click “Deposit,” type in the amount you want to trade, and the fake money will immediately enter your account.
On the other hand, if you head straight to actual trading and your real exchange account is connected with the platform, you will be using the USDT in your account.
Step 6: Customize your hopper
Now, what you have to do is to go to “Config” then “Baseconfig.” There’s basic and advanced configuration within the platform—no need to worry yourself with challenging labor since we’ll only be working with the basic. You can name your hopper in the Basic Settings.
For the essential part of this tutorial, click “Coin and amounts” and then change your currency (you can change it however you want).
Get rid of all the coins in the Selected Coins by clicking each coin included in the box. After you clear everything up in the Selected Coins, pick the coins you want in Available Coins and click them. You can leave the percentage buy amount on a standard.
Type in the minimum USDT amount per order that you are willing to spend per order and the maximum USDT amount allocated.
Go to “Strategy” and choose the plan of action you want to follow. It can be upward trends, buy the dip, buy extreme dips, or Bollinger bands.
Step 7: Sell Settings
Tap “Click Settings” and configure the percentage you want to take home in every trade. Click “Save.”
Once your settings are all set up, head back to the mainboard, enable the hopper, and you’re good to go!