Is Cryptohopper a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Cryptohopper is a good crypto exchange to start trading with. In this article you will learn whether Cryptohopper is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Cryptohopper
Cryptohopper is a multi-purpose platform that combines its hub functions, copying service, social trading, and an investment portfolio management service. The Cryptohopper terminal trades in Bitcoin, Ethereum, Litecoin, and dozens of other cryptocurrencies and tokens, which are presented on partner exchanges. The one-of-a-kind system stands out for the presence of free-of-charge (the first 7 days) trading bots where you can create and test your bots. The platform also provides an emulator of exchange strategies. There is also an in-depth training system.
| 💰 Account currency: | Most |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | No |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
Cryptohopper Pros and Cons
👍 Advantages of trading with Cryptohopper:
•cryptocurrencies can be traded on any of the partner exchanges from Cryptohopper’s terminal;
•no fees or fixed payments for using the service;
•profitable partnership and investment program;
•service for copying transactions and auto-trading bots;
•a vast selection of instruments;
•synchronization of accounts on diverse exchanges;
•large trading volumes.
👎 Disadvantages of Cryptohopper:
•free mode is extremely limited in functionality.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Cryptohopper Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Cryptohopper offers traders the following conditions.
| 💻 Trading platform: | Cryptohopper proprietary platform |
| 📊 Accounts: | Standard, Simulator |
| 💰 Account currency: | Most |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, cryptocurrency wallets, e-wallets, and third-party services |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 (Binance) |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit order, Market order |
| ⭐ Trading features: | Adaptive auto trading tools, combining accounts from different exchanges, market making, exchange/market arbitrage, strategy design |
| 🎁 Contests and bonuses: | Depends on the selected exchange |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Cryptohopper commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The platform does not charge transaction fees. All commissions are determined only by the trading conditions of the crypto partner exchanges with which the user works. Cryptohopper charges a fixed monthly fee according to the selected plan - Explorer ($19.00), Adventurer ($49.00), Hero ($99.00).
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | $19 | Depends on the selected exchange |
Investment programs of Cryptohopper
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Cryptohopper offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Cryptohopper platform does not offer investment programs. However, you can use the investment programs of partner exchanges to receive passive income.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Cryptohopper’s affiliate program:
Cryptohopper offers a flexible affiliate program based on getting a referral link to invite users. It is available to any verified trader. A user who has registered on the platform using TU’s referral link will bring you income by trading on partner exchanges. The benefits are:
up to 15% from each payment of your referral;
$1.9 per referral fee for whoever bought the ExplorerHopper package;
$4.9 per referral fee for whoever purchased the Adventure Hopper package;
$9.9 per referral fee for whoever bought the HeroHopper package.
The amount of bonuses allows you to receive up to 50% of the amount earned by the referral. The program is single-level. Cryptohopper offers individual conditions to traders who have their blogs, channels, and publics. The site provides comprehensive information support and helps with advertising. In this case, placing a referral link on your website is offered on an individual basis, but you must apply to the appropriate section of the Cryptohopper site or contact the technical support service.
Conclusion. Is Cryptohopper good for beginners?
The Cryptohopper cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Cryptohopper could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.