Cryptohopper: Scam or legit Trading Robot?

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Cryptohopper: Scam or legit Trading Robot?
4.1 (82.86%) 28 votes

Launched in 2017, Cryptohopper is a trading bot that allegedly helps investors make thousands of dollars in profits from crypto trading. Unlike most trading bots, this software is said to offer fully automated and semi-automated trading. The minimum amount required to trade with this bot is $250. But is Cryptohopper scam or legit trading platform?

InsideBitcoins investigations reveal that this trading robot is a scam. Our conclusion is based on our testing team experience and also an in-depth analysis of users’ online feedback. Read our main robot page to learn about the best trading bots in 2019.

Is Cryptohopper a legit trading platform? No!

  • InsideBitcoins gives this crypto trader a legitimacy score of 25%. Legit trading bots score above 80%.
  • Cryptohopper has a generally negative online feedback – There are a lot of complaints about people losing their deposit.
  • There are a lot of complaints about traders not being able to withdraw their money from this platform.
  • Cryptohopper scores poorly in transparency – InsideBitcoins did not find any information about its founders and fee mechanism.
  • Try a legit trading robot now or keep reading to learn more.

InsideBitcoins determines a legit trading robot through several metrics. These include transparency, consistency, reputability, and security.

A legit trading robot should have a proven track record and should guarantee consistent results irrespective of market conditions. Unlike human traders, robots are designed to make money in both rising and falling markets. This means that the potential to make money remains the same all the time even when the markets are crashing.

Recommended Robots

The following are the top trading robots in our list. These robots have been tested and verified to be fully legit.

Bitcoin Revolution

Bitcoin Revolution helps investors make an average $1500 per day from crypto trading. Just like other top trading robots, this software applies artificial intelligence-powered algorithms to scan the markets for tradable insights. We have determined that this trading software is legit and worth a try. Bitcoin Revolution scores best in reputability, accuracy and customer service.

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The best choice
  • 88% Win Rate - Not a Scam
  • $250 Min Deposit
  • Accepts Credit Card and Sofort

Bitcoin Code

Bitcoin Code is another top trading crypto trading robot. This robot guarantees investors an average daily profit of $1200. We find this trading bot easy to use and highly legit.

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1
 
The Best Choice
  • 88% Win Rate - Not a Scam
  • $250 Min Deposit
  • Accepts credit card and Sofort

What is Cryptohopper?

Cryptohopper is a trading robot that allows traders to capitalize on trading opportunities in the crypto markets. The software is said to enable both automatic and semi-automatic trading. In auto trading, the app carries out investment research and automatically places trades. The Cryptohopper app allegedly applies the high-frequency strategy to scan the markets for tradable news and place trades.

When it comes to semi-automated trading, this software is said to copy strategies of the best crypto traders and recommend them to users. This approach is known as copy trading and is popular in forex and stock trading. With the semi-automated approach, users are responsible for determining which trading strategies to apply in their accounts.

InsideBitcoins investigations reveal that Cryptohopper exaggerates its algorithms capability. We did not find any evidence that their automatic trading bots can analyze big data and make accurate trades. Also, they do not seem to offer any copy trading.

We found a lot of complaints about people consistently making losses when using this platform. There are also many complaints about users not being able to withdraw their trading capital. InsideBitcoins finds this robot highly suspicious and recommends that you stay away from it.

Who Founded Cryptohopper?

According to Crunchbase, Cryptohopper was founded in Sep 2017, by Ruud Feltkamp. InsideBitcoins Investigations reveal that Ruud Feltkamp is a real person. However, his online profile shows that he is a professional actor, DJ, and presenter. We find the disconnect between his professional background and Cryptohopper a bit alarming.

Deep online research reveals that this person is not popular in the tech or crypto industry. There is no information whatsoever linking him to crypto trading or developing trading software. We also did not find any information about the team behind the trading software.

Most legit trading platforms are founded by people with expertise in crypto trading and building trading software. These founders usually have experience building trading systems in other niches or are already well-established crypto traders.

On the “about us” page, Cryptohopper claims to have been founded by two brothers with crypto trading experience but doesn’t mention their names. InsideBitcoins investigations reveal that these are lies. Feltkamp is the real founder, and he has no background in crypto trading.

Also worth noting, Cryptohopper also lies about its headquarters. They claim to have headquarters but do not provide the address or contact details. Funnily enough, the only evidence presented is a fake photo of an unbranded building. InsideBitcoins recommends that you keep away from this trading bot.

How does Cryptohopper work?

As mentioned earlier, Cryptohopper claims to offer both fully automated and semi-automated crypto trading. Fully automated trading involves the app carrying out all the investment research and placing trades automatically. Semi-automated trading, on the other hand, consists of the trading bot carrying out research and delivering tradable insights to the user.

Cryptohopper claims to provide high-quality trading signals to traders. These signals are sourced from the best of crypto traders and recommended to users to apply in their accounts. This method is known as copy trading and is popular in forex and stock trading.

InsideBitcoins was not able to establish if Cryptohopper uses legit trading technology. There are a lot of complaints about people experiencing massive losses using this trading robot. This may be an indication that their algorithms do not work and they are nothing but a bridge to scam brokers.

We recommend that you read our review of Bit Bubble Tech if you are looking for a legit trading app that allows fully automated and semi-automated trading.

Account Creation.

The first step to creating an account with Cryptohopper is to fill the form provided on their homepage. InsideBitcoins determines a great signup process by the amount of personal data collected and how the robot safeguards this data. A great signup process should be easy and fully secure.

While Cryptohopper is highly likely to be a scam, it provides a seamless signup process. Users are required to submit their full names, email address, and agree to the robots terms of use. This step also involves creating a password and opting in or out of their mailing list. Users are required to verify their email address to continue.

The best signup practices take only the necessary user details and provide an option to opt in or out of the providers’ mailing list. A good provider should never share clients’ details including contacts with third parties. Also, they should protect users’ data by ensuring that their website is fully secured.

While Cryptohopper has a secure website and does not collect unnecessary users details, it appears to share clients’ details with third-party brokers. We found a lot of complaints about people receiving unsolicited offers from unregulated brokers after signing up with this robot. Most of these brokers are unregulated and have a reputation of scamming people.

Demo trading.

After verifying your account, you are redirected to the trading dashboard where you can choose to start with backtesting or demo trading. The demo trading account requires you to select a trading strategy and set stop loss and take profit functions. Backtesting uses historical data and is therefore not reflective of what you will make in live trading.

We find Cryptohopper platform a bit complicated for both beginner and experienced traders. Their algorithms seem not to work given that they have a reputation of reporting consistent losses.

InsideBitcoins finds this trading robot demo account to be exaggerated and not to give a clear picture of how the live trading platform looks like. While results between a demo and live trading account may differ, it should be slightly, and the platforms should not be any different.

Deposits and Withdrawals.

After the demo trading, you need to deposit your trading capital to start live trading. Cryptohopper accepts deposits through over 70 cryptocurrencies. These include Bitcoin, Ethereum, Ethereum Classic, Neo, Litecoin, Monero, Zcoin, and many others.

InsideBitcoins has determined that deposits take a few minutes to process, but you will wait for days to withdraw your money. Also, there are a lot of complaints about users not being able to withdraw their funds. This is another reason as to why we believe that this crypto trader may be a scam.

Legit trading robots have multiple deposit and withdrawal methods and take less than 24 hours to facilitate transactions. We recommend that you stay away from any trading robot that has negative feedback, especially on withdrawals. It is typical of scam trading robots to erect barriers to prevent users from withdrawing their money. InsideBitcoins recommends that you only trade with proven trading robots.

Live trading.

Live trading with Cryptohopper is either fully automated or partially automated. Full automation involves the robot doing all investment research and trading. On the other hand, partially automated trading involves the app gathering tradable insights and recommending them to the user for execution.

InsidBitcoins research reveals that Cryptohopper trading technologies are nowhere near what they claim to be. For instance, in automated trading, the accuracy level seems to be below 10 percent. This means that traders are likely to make more losses than profits when using this app.

Also, there are a lot of complaints about the signals delivered by this trading app being inaccurate. InsideBitcoins has determined that you are likely to lose more money when trading with this app than you would when trading conventionally.

Why Cryptohopper is a scam.

InsideBitcoins tests reveal that Cryptohopper is a scam. Here are some of the reasons as to why you should keep off this trading robot.

  • InsideBitcoins legitimacy score of 25% – Cryptohopper has a legitimacy score of 25% from our tests. We take factors such as transparency, consistency, ease of use, cybersecurity, reputability and customer service when determining the legitimacy of a trading bot.
  • Does not disclose about partner brokers – This trading bot provides very little information about its partner brokers. InsideBitcoins has established that most brokers operating under this robot are unregulated.
  • Has poor online sentiment – Most online reviewers complain that they have lost money trading with this robot. InsideBitcoins analysis has determined that this trading robot has an accuracy level below 15%. Similarly, top trading robots such as Bitcoin Code have an accuracy level above 90%.
  • Lies about founders – Cryptohopper claims to have been founded by two brothers with extensive crypto trading experience. InsideBitcoins investigations reveal that this is not true. This trading robot owner is Ruud Feltkamp, a professional actor and DJ.
  • Does not disclose about its physical location and contacts – Cryptohopper claims to have offices but discloses very little about their location and addresses. Our investigation reveals that the address listed on their website does not exist.
  • Does not provide a traceable phone number – This trading robot does not provide a verifiable phone number. All customer services happen through email. We found a lot of complaints about Cryptohopper customer service being unresponsive.
  • Has a complicated trading platform – InsideBitcoins investigation reveal that most people who have used this trading platform find it complicated.

Is Cryptohopper a scam? The Verdict!

Cryptohopper is a scam, and you should keep away from it. This trading bot lacks transparency, is not user-friendly, has a poor customer service and is highly inaccurate. Consequently, you are likely to experience huge losses when trading with this bot. Furthermore, you may experience difficulties withdrawing your capital if you decide to opt out of trading. Click the button below if you are looking for a legit trading robot.

FAQ.

Is Cryptohopper legit?

Cryptohopper appears to be a scam trading bot. We recommend that you keep away from it.

How much money can I make with Cryptohopper?

You are likely not to make any money trading with Cryptohopper. Most of the reviews we have analyzed point out that this robot is a scam.

How much should I deposit with Cryptohopper?

Cryptohopper does not specify the minimum deposit needed to start trading with the app. Likewise, we find this crypto robot highly suspicious and therefore recommend that you avoid it.

Can I withdrawal my funds from Cryptohopper?
 

We found a lot of complaints about users not being able to withdraw their funds from this trading bot. You are likely to lose your money if you deposit it with them.

Is Cryptohopper a pyramid scheme?

Cryptohopper is not a pyramid scheme. However, it remains highly suspicious and therefore not worth a try.

How does Cryptohopper work?

Cryptohopper claims to automatically scan the crypto markets for tradeable news and execute trades accordingly. Similarly, it provides semi-automated trading where the app recommends trading insights to users. InsideBitcoins finds its technology highly suspicious and incapable of this type of trading.

How can I contact Cryptohopper

Cryptohopper provides the worst customer service. Users can only reach them through their contact webpage. There are a lot of complaints that this crypto trader is unresponsive most of the times.

 

3 Replies to “Cryptohopper: Scam or legit Trading Robot?”

  1. i invested $250 with them and i didnt make any money? can you pls advise? Please i need a response as quickly as possible.

  2. How can i withdraw my investment in the crypto hopper ? i invested some money some weeks ago and i have been unable to make any gain from the software since.

    from your review, the crypto hopper is a scam, will i still be able to make withdrawal from the software ? if yes, can you please put me through how to go about it ?

    i really need a reply as quick as possible because i do not want a situation in which i will be unable to refund my money. Which legit trading software can you recommend for me to use?

  3. During the time when there was economic crisis between China and US, I tried making some trade on the cryptohopper but none of the trade yielded profit I was so devastated and I almost lost it all thanks to God for today.

    I do not know why the founders launched this kind of cryptocurrency robot but it is not worth your investment, BELIEVE ME. Look for other worthwhile robot and invest your money, you will thank me later.

    I have been craving to ask this question and I hope I get a good response. Which of the Cryptocurrency robots do you consider the best of all?

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