Review: Is Cryptohopper a scam?

Cryptohopper Logo

How it generates money for you: Cryptohopper is a popular platform for automated trading bots for the cryptocurrency. You can choose various cryptocurrency as your base for trading. I chose BTC because I believe in it. There are a lot of options for automated trading bots or as they call it ‘hoppers’. We will discuss below on some that I have used. You can get a little extra percentage of the profits if you refer others as I am trying to right now. Yes I am that direct, no hiding, no BS.

 

Crypto Pricing

You need a subscription to begin trading. I went with the Explorer package to try out.

 

Good Points:

  1. Legitimate company and platform as evident by many good reviews and positive results.
  2. Hoppers can be configured to auto-trade for passive income. Configuration can be done on the mobile app too. Manual trading also available.
  3. They use a built-in VPS by Amazon (probably included in the monthly fees you have to pay anyway). I really like the web platform, it has a very nice interface and easy to navigate.
  4. The Market Place has many strategies and signals you could start with for free, no need to build from scratch. Well, you could build from scratch if you want too. Technically you are the ‘trading bot’ as you control all the settings and the bot just executes for you 24/7 cause well…you probably need to eat and sleep and do other beneficial activities.
  5. A lot of information and tutorials provided for education.
  6. Extremely helpful customer service. You get to talk to an actual person during their working hours and they’re super attentive to your needs. I have engaged in their customer chat many times.
  7. Gotta love the crypto market as they simply do not close at all. Profits 24/7 365 days!

 

Bad Points:

  1. I am new to this and found it to be very complex to understand all the different functions available. There were many settings to tweak.
  2. I find that back testing is very inaccurate, as they have claimed so themselves, so the only option is paper trading and you have to do it for quite sometime as there are many strategies and signals with different settings to try out depending on the currency and broker you are using. As always, do not rush into a live account, just do paper trading first. I am still doing paper trading after opening my account on 17 June 2020.
  3. Monthly subscription maintenance and probably need to buy good strategies that are profitable from the marketplace

 

Initial Thoughts: It was very difficult but fun at first as cryptocurrency is much newer to me as compared to forex. The most important goal was to find a platform which is not a scam, and I believe I have found the one in Cryptohopper. It was still not easy initially as many of the free strategies and signals were either not profitable or not trading at all. There are many conditions to be met before trades are being made automatically by the hopper. I am not doing manual trading yet.

 

Current Thoughts: I have tried out the following

Strategies: CQS Basic Scalper (Free), RSI + Bollinger (Free), Trend & Volume Aggressive Settings by Capitaly (Free), Cavalry 3.0 by Tapoleon (Paid)

Signals: Nakamoto (Free)

 

Surprise, surprise…only the Cavalry 3.0 Strategy was actually working and profiting for me. The other free ones were making too few trades and when they do, the trades resulted in a loss. I bought Cavalry on 28 June 2020.

Costs of Cavalry 3.0: USD 25 for 6 months of updates. You get the strategy forever but updates for only 6 months. After 6 months you need to purchase again to get new updates.

Definitely worth the money especially if it is continuing to make consistent profits such as these:

Cavalry 3 Profits 05072020

Start Date: 28 June 2020

Current Date: 5 July 2020

Total Number of Trading Days: 7

Initial Investment (Paper Trading): 1.0 BTC (USD 9038.79)

Current Returns (including open trades): 0.06752754 BTC (USD 610.64)

 

The hopper made a whooping USD 610.64 on returns in just 7 days! Keep in mind that this is with an investment of 1 BTC and there are open orders. I will continue running this strategy for a couple of weeks before switching to live! Be sure to keep a lookout for updates and sign up to be notified as I will be posting frequently about my Cryptohopper journey.

 

Verdict: After installation of Cavalry 3.0 and tweaking the settings, it started to open positions within minutes! Most likely not a scam. I will have my final verdict after live trading and withdrawal.

 

Recommendation for Cryptohopper: High for what it is now.

Review for Cavalry 3.0: Very Good. It is very affordable and despite not being the most optimal market for a swing trade strategy to work, it is still making good profits. Has a discord channel with other community members and the owners from Tapoleon.

 

If you enjoyed my transparent review and honesty, I would greatly appreciate it if you could join my team. As a return, I will share with you the exact same settings I am using for Cavalry 3.0 to work so you can start getting profits too. I will also provide help if you need in terms of setting up your account and making your first deposit!

Sign up here to join my team: Team Painless Trades

Cryptohopper Logo

Published by Painless Trades

Raw content about making money online, no BS.

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