You may be looking for an AI crypto trading bot that adds the next level of autonomy to your standard ATS setups or is interested in building a unique sophisticated system utilizing some of the finest strategies designed by the power users of the TradingView platform. In any case, choosing this particular vendor will be a good idea.
Nevertheless, some users may think that the company has some issues with pricing or underdelivers on some fronts like the lack of a social component. Looking for the best Cryptohopper alternative is not an easy task considering the track record, deep product lineup, and other advantages of the platform. Nonetheless, you can find a plethora of options that are quite good and look superior to this company in some ways.
We will discuss the advantages of using this vendor, its downsides, and some of the most interesting options for those seeking something different.
Many reasons to use an ATS
An automated trading system (ATS) is a perfect tool for many investment approaches including statistical arbitrage, market-making, swing trading, and others. You can enhance the outcomes of your operations by simply decreasing the time needed to perform certain actions. Below are some processes that can be significantly improved or quickened by the use of automation:
- Dealing with user interfaces. Despite the best efforts from developers, you will always find it quite challenging to react to various events in the crypto market because you will need to make several operations to create a market position. While some CEXes and brokers have different tools to significantly speed up the process, it still must be done manually. Depending on your internet connection speed and hardware, it may be instant or take several seconds.
- Receiving signals. When trading manually, you will have to analyze incoming signals, interpret them, and find a good way to act upon various trading opportunities. Each of these processes can take time even if you have experience and know what to do. Robots usually do all these operations instantaneously and can react to various market events quickly. Since a CryptoHopper alternative may offer a more flexible way to work with external signals, having a robot to receive and interpret signals instantly is a massive advantage.
- Creating and adjusting orders. After finding an excellent entry, a retail trader must set up delayed orders (stop-loss and take-profit) to protect a position from volatility and secure profits. While each of these orders takes just a couple of clicks to be created, these are precious seconds that can be impactful when creating several positions at once or trying to protect positions from immediate risks.
- Robots connect to centralized exchanges and brokers via API gatewates allowing them to interact with the backend of target platforms instead of dealing with clunky UIs. It means that a robot will do everything instantly and reduce the average time of order execution by, at the very least, several seconds. For some strategies, these seconds can be decisive!
The advantages of ATS
Contemporary retail traders can use a wide range of different automation instruments and platforms to create fully autonomous systems that do not need any supervision aside from general portfolio management. The reason why automated systems became so prevalent in the crypto market is that their rise coincided with the blossoming of the automation industry propped up by the earlier expansion of the Forex market.
Modern investors simply cannot imagine a world where they do not have access to the rich selection of automation instruments like copy trading or staples such as DCA trading systems. For instance, distributed cost average is the most popular approach among the members of crypto communities that are focused on long-term holding. Bitcoin and Ethereum holders recommend all their peers to just DCA their way to a massive BTC pile over the course of decades. Many retail investors do not have the discipline or ability to stick to a DCA strategy. Robots solve this problem elegantly.
Below are some of the advantages enjoyed by investors who decide to focus on implementing various types of ATS designs into their portfolios:
- Robots do not have any emotions. The trader’s psychology is critically important for the success of any investment operation. People make financial mistakes due to fear, greed, or envy as well as many other emotions that negatively affect our ability to reason and make informed decisions. Robots simply follow optimized strategies and do not make unforced errors.
- Operating around the clock. The crypto market never sleeps. When trading volumes start diminishing in the US and Canada, Asian markets pick up the pace. It means that there are always new opportunities for money-making. An ATS will work without any pauses to capitalize on various market events whether they happen in the morning or during the night.
- It’s cheaper than ever. During the early onset of the automation industry at the beginning of the 1990s, only huge financial institutions could afford to run ATS setups. Contemporary retail traders have access to some of the most sophisticated robot designs and can use them for a relatively low price. In fact, some platforms have free plans for newcomers who want to play around with automation and its many advantages.
- Technological advancements. Modern robots do not stay the same. They change with each new breakthrough in the fintech sector. The arrival of advanced machine learning and AI created a new paradigm shift in the sector by allowing developers to enhance existing systems with artificial intelligence. For instance, you can go to WunderTrading and try out its new AI statistical arbitrage system which looks very promising.
- Crypto bots like Cryptohopper help you optimize a portfolio and efficiently adjust the composition of its assets by simply eliminating some of the weaknesses that human investors tend to have. It is hugely important to work with reliable providers to ensure that you are using the best tools. Many experts believe that the platform we are discussing in this article is among the best choices an investor can make. Let’s talk about the “whys”!
What CryptoHopper’s competitors cannot do
This company is known for its technological prowess and strong focus on improving the existing product lineup. One of the biggest reasons why so many users are coming to this particular platform is the variety of ready-made strategies that can be deployed in a couple of clicks. While the variety of available ATS designs here is not as diverse as what can be found on TradeSanta, Cornix, or WunderTrading, it is still a great choice for many investors.
Below are some of the advantages enjoyed by retail traders who decide to pick this company as their starting point:
- Easy onboarding. Unlike similar crypto bots to Crypthopper which may offer comparable features, the user interface, educational materials, guides, and tutorials here allow newcomers to easily get started and master the products and their many functions. New users will quickly learn how to deploy their first ATS designs and how to adjust them.
- Technological superiority. This company delivers new products and tech to its users as quickly as possible with updates rolled out each month. During the peak of the AI hype cycle, the company reacted with impressive speed and rolled out an improved version of their grid systems enhanced with artificial intelligence.
- Unique tools for miners. Users who receive rewards for mining or staking can automatically convert them into any currency they like. You can adjust settings to make all conversions happen at certain prices to control the inflow of cash. Many crypto enthusiasts who are interested in passive income with crypto will find this feature incredibly useful.
- Pro traders will be able to run custom scripts and engage in automatic market-making. The company offers a product designed specifically to take advantage of market inefficiencies occurring in the crypto ecosystems with lackluster liquidity. People who want to reliably make money will be happy to engage in strategies like AMM.
- Affordable pricing. Unlike some companies like 3Commas, CryptoHopper can be quite cheap considering the fact that the most expensive plan for individuals is under $100 at the time of writing. It is not the cheapest option out there but an individual who wants to use automation will be able to afford it even with a relatively small portfolio under management.
These advantages make the company appealing to a wide audience of retail investors with different backgrounds. Whether you are coming from the tradfi ecosystem or from the world of mining, you will find exceptional products that will improve ROIs. On the other hand, some trading enthusiasts will say that there are better options for ATS deployment considering some downsides of this particular provider.
Why should you look for an alternative to Cryptohopper?
Despite the long list of upsides, the company has some issues that have been voiced by the community. On the side of technology, the company may look lackluster compared to some alternatives. Let’s discuss some of the inefficiencies and downsides of using the services offered by this provider.
- Customer support and pricing. Some users voiced their discontent with some products and the inability to refund purchases even after talking to customer support which can be silent in some cases. While the general quality of customer care is quite high, separate cases of poor handling of user complaints created a stain on the reputation of the company. Some users expressed their concerns with the inability to cancel subscriptions.
- The strong focus on presets. DCA and grid bots are some of the most prominent products featured on the platform. While it is fine to offer these useful tools to investors, the lack of social components and limited customization options with rules being insufficient to build complex ATS setups make it hard for experienced investors to take advantage of automation to the fullest extent.
- Software glitches can be disruptive. Some users experience issues with the app. It can have visual bugs and performance issues despite operating primarily in the cloud. Despite regular fixes and updates, some technical issues persist and can be detrimental to the overall performance of your portfolio. If you are planning on using the platform extensively, software issues are worth investigating.
- Problems with the dashboard. While it seems quite user-friendly and very informative, some data appears to be erroneous. Problems with the display of correct information in the portfolio management section have been also discussed by the community of users. While not disruptive or performance-defining, these issues can be very inconvenient and lead to various investment mistakes.
Many users who did not experience any technical issues with the platform still have grudges with the service. For example, newcomers are always interested in using some easy-to-use strategies or engaging in copy trading as it does not require them to have experience in the crypto market. At the same time, some say that the grid trading system here is one of the best in the market.
Regardless of why you think that you need to use top crypto bots instead of Cryptohopper, it is important to choose the best options out there. Picking the right provider can be quite challenging even for experienced users.
How to find the best automation vendor
With the current level of saturation in the ATS market, investors have to be extremely cautious. Finding a good provider is not an easy task if you do not have some hands-on experience. However, you can still weed out unreliable platforms before testing the best!
- Check track records. It is important to work with companies that have experienced leadership, technological expertise, and the goodwill of the community. For example, many good companies have been around for over five years and have reliable staple products like DCA or grid bots. You should not work with platforms that have appeared only recently.
- Good customer support. Testing the quality of the customer care service is relatively easy. You can simply talk to human operators using live chat features before committing to a paid subscription plan. The patience and the level of knowledge displayed by customer support employees will tell you a lot about the company’s corporate culture.
- The flexibility of products. If you are interested in building a sophisticated strategy, you need tools that help you create unique systems and implement a variety of complimentary features like third-party signals and instruments. If a company has only ready-made options or focuses too much on social components, it may not be able to give you all the necessary tools to maximize ROIs.
- Pricing. An investment plan must account for all expenses! If you are paying thousands of US dollars annually for just running a robot, all potential gains will be wiped out by subscription payments. It is important to work with companies that have sensible subscription options and offer different service packages depending on the available budget.
Cryptohopper and similar tools can be incredibly flexible and provide a seamless trading experience to users who are interested in optimizing their investment activities and achieving consistent returns. However, you should not be trying to cut costs everywhere or search for platforms that overpromise and underdeliver.
Thankfully, the current landscape of the automation sector in the crypto fintech ecosystem is quite diverse offering a variety of options to all sorts of investors. We want to give you a list of interesting companies that are known for excellent user experience, versatile products, and more! Note that we do not endorse any of the brands and encourage our readers to do their due diligence by learning more about each of the companies listed below.
The best alternatives to Cryptohopper
Many service providers deserve the attention of the community of crypto investors. We will focus on some of the best companies in the automation industry. Below are some of our picks made based on track record, product versatility, and general user experience.
- 3Commas is a good pick to start with as it is commonly mentioned as one of the biggest competitors to CH. This platform is strongly focused on social features like the marketplace with user-generated solutions and a massive copy trading section with hundreds of leading traders from a multitude of centralized exchanges. If you are interested in services that are all about implementing traditional Web 2.0 elements efficiently, 3Commas is a good choice. However, prices are very high compared to many other vendors with some plans reaching over $250 per month as of the time of writing.
- GunBot works across both the DeFi and CeFi sectors of the wider crypto ecosystem. The client can connect to centralized and decentralized exchanges via API gateways and perform similar strategies quite well. Recently, the company has been experimenting with machine learning. It implemented its own large language model which is used to analyze user requests and spit out ready-to-deploy automated strategies. While the AI feature is still in dire need of tweaking, the novelty of the idea has attracted the attention of thousands of new users. In general, it is a good choice if you do not need anything special from your robots.
- Cornix is a platform that offers one of the richest product catalogs in the industry. The company features a powerful social component, has a plethora of ready-made strategies that can deployed in just a couple of clicks, and can be used on a dozen CEXes. Experienced investors who like to have some flexibility in designing ATS setups will appreciate the versatility of the platform that seemingly ticks all the boxes of a great automation vendor.
- WunderTrading is a great choice for retail traders who want to be as flexible as possible. The platform is focused on providing strong customization options including the capacity to connect external signal providers. You can build bots that utilize alerts from the TradingView terminal. The social component is quite powerful too with the marketplace featuring hundreds of leading traders from all supported CEXes including Binance, Coinbase, KuCoin, and others. The AI-assisted statistical arbitrage bot is a great instrument for users who need some assistance with portfolio management. Prices are quite affordable and the quality of the customer support is simply excellent.
These are some of the best companies to work with if you need a great ATS to enhance profitability and bring some consistency to the portfolio. Other honorable mentions that may catch your attention are TradeSanta with its thousands of preset strategies and Signum which can translate alerts from any TradingView strategy into an autonomously operating ATS setup.
Note that we do not want to create a “Cryptohopper VS other crypto trading bots” comparison with a definitive verdict. In the end, CH is one of the most popular and well-respected companies in the industry. It deserves all the praise it gets. On the other hand, you should never be limited to just one provider when it comes to choosing a good trading bot capable of improving the outcomes of your investment activities. Use whatever makes the most sense for your budget and asset composition.