The first Hopper type we have ever released. And it is still the most used hopper today! There are various ways you can use this Hopper type to trade, and we've listed it's most benefits here.
There are multiple ways of trading with the trading bot. Either use it to trade manually for free combined with the Pioneer package, trade semi-automatic by only using tools like a Trailing Stop-Loss, DCA, and Trailing Stop-Buy or us it as it is designed for and trade automatically.
But what are trading bots exactly? A Trading Bot is nothing more than an automated trading strategy. A fully automated trading bot scans the market with technical analysis for buying opportunities and sells when your investments made a profit. You can leverage tools like a Trailing Stop-Loss to help you prevent to sell too early. You can also subscribe to signalers to let them decide when to sell.
We've listed some ways that you could use the "Trading Bot" Hopper type for:
Manual Portfolio Management
You don't necessarily need to trade automatically, connect it to your exchange, and trade manually for free thanks to our free Pioneer package. Advice: use the advanced view to trade manually on your exchange. The positions tab helps to keep track of the positions you've bought.
Some may not feel comfortable with having a bot decide when to buy positions, that's why it's interesting to trade semi-automatic. Do your own analysis and buy using the "Advanced View". Use tools like the trailing stop-loss, trailing stop-buy, shorting, and DCA to upgrade your trading style.
Full Automatic Trading
Go full automatic and use your Hopper to decide when to buy as well. There are various ways to determine when your Hopper should buy positions. Either follow a signaler or buy/build a strategy that your Hopper will use to scan the markets.
Automatic Exchanging of Cryptocurrencies
Did you know that you could use Cryptohopper for simply exchanging cryptocurrencies?
Miners, (web)shop owners all have the same problem. They receive a lot of different cryptocurrencies, and all have to exchange them themselves.
Enable "Automatic Sync" (On your dashboard, go to "Current Assets" -> click "Synchronize" and enable Auto-sync). Your Hopper will automatically create positions for all assets on your exchange, including those you newly receive! Now decide how you want to sell them (-exchange for your base currency).
You can automatically sell them after a particular set of time, or use a stop-loss and trailing stop-loss to sell them with a slight profit strategically! You can even use technical analysis to sell your positions. The options are endless! For these settings, go to your config -> Basecongif -> Check the "Selling" category.