• CryptoChris1

Cryptohopper vs Apitrade.

Updated: Feb 4, 2019

There are a lot of people killing it with Cryptohopper, I'm not saying its a bad trading bot. I think that experienced traders do really well with Cryptohopper. I myself am not an experienced trader. Not an expert at Technical Analysis and markets and investing are relatively new to me.

They are a company based in the Netherlands, a really great platform. They have a monthly subscription rate. Their trading bot has to be programmed. You can set your bot to your own specifications, for example to enter a trade when the RSI hits 20 and a coin is oversold. It constantly scans the market for coins that meet your specifications.

There are also signals groups, two kinds: free and paid

I did some research on the two and the consensus was overwhelmingly that the paid signals lead to profitable trades more so than the free signals groups. So there's the subscription plus the signals fees.

My personal experience was the signals group that I paid a monthly subscription for didn't seem to send out too many signals because I had the lower subscription that only allowed you to have 15 coins to trade. You pay the higher $49 dollar one and you can have 50 coins to work with, the $99 dollar plan gets you 75 coins.

The signals come out in different base pairs and different coins and if one of yours you've picked hits then it auto enters you into a position. The couple that did hit, about 1/2 were profitable. I had a stop loss set up so my losses weren't that serious but my initial investment started getting beaten down a little. At the same time I was also subscribed to a Telegram group that has a YouTube channel. I jumped on some of those signals too, because with Cryptohopper you can also make manual trades too. Me behind the wheel with making trades was a little more sketchy, I was relying strictly on their signals. I had done no personal research on the trades I was making, just being a signal follower. I don't recommend blindly making trades unless you like losing money and are addicted to the panic feeling of watching your position fall off a cliff right after you buy it.

Option 3 is to buy someone else's template for your Cryptohopper trading bot. They have found a winning set of TA settings and they will sell you their setup and you can just copy it to yours. I spent some more money on a template and it didn't seem to get me any winning trades. Seemed like the YouTuber's template I'd bought wasn't working as good as he'd made it sound.

That's when I searched for another bot. I liked the idea of a proven algorithm that analyzes the market and gets results time after time.

I found Apitrade. It's a company created from Russian developers. Their's is a different take on it. You do pick Algorithms to use, so It's not completely without some decision making but they are pre-set trading algorithms. You pick your exchanges, you can have all the exchanges going at the same time and that gives you arbitrage trading opportunities or you can only use one exchange at a time if you choose. To use multiple exchanges you must create accounts with each exchange and put funds to trade on each also. Link the bot and off you go. It's simpler in that you have your exchange account and then for each exchange you pick which algorithms you'd like to have running on each exchange. I personally went with one exchange, Binance, and picked multiple algorithms to run at the same time to take advantage of what each algo does.

So far, so good. I recouped my losses I'd experienced and now I'm in the green. Their cost is 50% of each profitable trade, so you only pay from winning trades. Sounds a little steep but its hands-free, it grows on its own. I don't have to watch the charts constantly and panic rush into trades. It's passive income. It isn't a fast process, the trades are micro-trades but thousands of them that add up. It grows slow but the market is ranging sideways or falling so I am impressed that for the most part it still profits even in rough times. There are some down days, but its mostly up. For every 7-8 winning days there's 1-2 down or sideways days it seems. The thing is that if it enters a losing trade, after 45 days Apitrade covers the loss 100% automatically. Yes, you heard me right they pay you back 100% of that trades cost if there is a loser. So there is no real risk if you are willing to let it ride and wait. I'm excited to see how big the profits will be during the next bull run.

In summary, they are both excellent programs. I say that Cryptohopper might work a little better for experienced traders and Apitrade works for all traders.

It's an extremely high-risk market, but where there is high-risk there's also high-reward.

#howtoinvestincrypto#cryptoprofits#cryptotradingbot#cryptobot#bottrading#makemoneywithcrypto

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Disclaimer: I am not a financial advisor, everything on www.simplecryptotrading.com is my own experiences and opinions about the things I have done myself to buy, sell and invest in Bitcoin and other cryptocurrencies. No part of any of this is meant to be taken as financial advice, cryptocurrencies can be a volatile, high risk market. Never invest more than you can afford to lose, please do your own research and due diligence before you spend any of your hard earned dollars. Any results shown are my results and may not be the same as your results. You are solely responsible for any decisions you make and the consequences thereof.