Anything you do with your investments with the Cryptohopper bot is entirely your own responsibility!
If you have informed yourself well and still have questions, feel free to ask them in our telegram channel. We give you tips to the best of our knowledge. What you do with it is your own decision.
In this regard, the information and suggestions here are not constitute instructions for action or even investment advice; “Crypto-Base.eu does not accept any responsibility for results and consequences!
You can choose any exchange for the strategy.
Here are a few things to consider when choosing a scholarship:
- Availability of signals / strategies for the Cryptohopper
- Trading volume
- Number of coin pairs
- Trading Fees
For trading with Cryptohopper, it is important that signals/strategies are also offered on the exchange you selected so that the bot can trade all programmed coins.
As already explained with the base currency, your desired coins should be displayed with corresponding trading volumes and – especially if you don’t have that much starting capital or want to work with very low profit thresholds (scalping) – the trading costs should be as low as possible.
We therefore recommend Binance.com and Binance.us.
A trading hopper based on swing trades with long waiting times. A slow and steady earner with little draw-down in a bearish or bullish market. We dispose of the bags by means of Dca.
A trading hopper based on high volume. A fast and aggressive earner whether the market is bearish or bullish. With this hopper we work with DCA, as you can see in our template we only use 0.6% per coin so that you have enough funds left for the bags.
DCA stands for “dollar cost averaging” or “average cost effect”. The idea is to massively lower your own average purchase price for a position by making targeted follow-up purchases after a price drop and thus get back into the profit zone faster.
Here you will find DCA calculators for your entire hopper portfolio
More information about Dca can be found here
The choice of base currency depends on many factors such as:
- the long and short term goals
- the projects/coins you want to invest in.
- When choosing a base currency, consider how much of the base currency you can extract from trades over time.
- It is best to choose a base currency that also has a trading pair with your desired coins and a liquid market so that you can trade successfully as often as possible.
- According to these criteria, USDT is currently still the recommended base currency on Binance, followed by BUSD. Alternatives such as USDC or even EUR have significantly fewer trading pairs and/or lower volumes.
There is no fixed minimum amount. However, you have to consider the costs for the bot and other items, which are incurred either once (buying a strategy) or regularly (subscription costs for the hopper itself). That is why we think that a minimum amount of $1000 is sensible to cover costs and make enough profit on top.
The most important thing about an automatic trading bot is that you can also get out of dips (red numbers), it is not always bull market. We use DCA to get out of the dips, so you need a lot of extra capital to get rid of losses.
We triple the total position at that moment, so you can understand that you use a lot of extra capital, we also want to be able to do this at least 2x per position.
Well, at least that’s not a bot’s fault. The price of a position can fall and rise, as is already known from stocks. If a large part or all of the positions are in the red, the market is likely to have corrected downwards on a broad basis and therefore already opened positions are initially paper loss. There is no need to panic, we use DCA so that you can get rid of it over time in case of an emergency. But every now and then there has to be profit too.
When in doubt, it helps to first turn off the hopper or at least the “Buy” function and get an overview of the situation.
The “Panic Button” does exactly what it’s called: sell everything, regardless of the loss (!) and take out the hopper.
It’s actually never necessary to do this, so be patient and calm!
If in doubt, please contact us.