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Get Started with Cryptohopper

In this article, we’ll explain two ways how you can start with Cryptohopper. One is how you, as a new user, go through the "New User Experience". The other way is for those who skipped this and are here for help now.

Getting started as a new user with the "New User Experience"

Get started in 4 easy steps.

Have you ever wanted to start trading cryptocurrencies? In this guide, we'll cover everything you need to know to give you a jumpstart as a fresh new trader on Cryptohopper!

Step 1 - Register your Cryptohopper account.

Shouldn't be the hardest step. Registering is easy! 

You will need a username,  an email address, and a strong password. If you have questions ask our chat support.

Step 2 - Navigate the Quick tour!

The first time you log in, you will be assisted with setting up your bot. You can choose to connect your exchange right away, or you could start with a simulator first. We recommend connecting your exchange since you will immediately have the full Cryptohopper experience. Don't have an exchange yet? Or do you want to test things out first? Create a paper trading bot, so that you can trade fake funds first.

You will be asked to configure some basic settings, like a take profit. You can always change this later, so they don't need to be perfect. It's good to be aware of what is possible with Cryptohopper.

Congratulations! You have created your first bot! What is a bot? Well, a bot is nothing more than a connection to your exchange. You can create as many bot (exchange connections) as you'd like! 

Manually trading is free with our Pioneer, but if you'd like to trade automatically, you can buy and assign a higher tier subscription to the bot you'd like to auto-trade with. No worries, you have a 3-day trial of our Explorer to try out our basic functionalities.

Step 3 - Are you ready, young grasshopper?

Trading with Cryptohopper doesn't need to be complicated. Even if you do not have all the technical know-how, you can go to the marketplace and select any template, signaller, or strategy to apply to your very own bot. Another option is the Copy bot. With the Copy bot you copy an experienced trader.

When you've got an excellent configuration, it's time to apply it to your exchange account and turn those simulated profits into actual profits in the next step.

Getting started when you've skipped the New User Experience

Have you skipped this and need help setting up your bot? Watch this video or continue to read this explanation.

Step 1 - Create a new bot
Create a new bot in the left top of your dashboard, click "Your Hoppers/View all Hoppers" 
and click the "New" in the top right corner of your Hopper overview. You could also use the "Config Wizard" if you want step-by-step guidance on creating a new trading bot. Since we want to keep it simple, we'll go for simply creating a new bot.

You will be prompted with four bot types. The Arbitrage Bot, Trading Bot, Copy bot and Market-Maker. The Arbitrage bot can be found in the left down corner. There's a small link you can click. We'll go for the trading bot. Did you know that you don't necessarily have to trade automatically with the trading bot? You can connect as many exchanges as you'd like and trade manually with the free Pioneer package.

Step 2 - Select a template

We've created templates so that you'll have a jumpstart. Choose the exchange you want to trade on and which currency you are going to use to invest in other currencies. We call this your "Quote currency". Make sure that you actually have these funds on your exchange/paper trading exchange or your bot will not be able to buy anything! (This a commonly made mistake.)

Please note that your exchange doesn't necessarily offer all currencies (pairs) for all Quote currencies. BTC, more often than not has the most pairs, but can be harder to trade if you're a beginner.

Now's the moment to choose. Are you going to trade for real? Or are you going to create another simulator?

Creating a simulator is simple. Just toggle the "Paper Trading" switch. If you want to connect your exchange, you will need to generate API keys. These are created in your exchange account, and you will have to give the API key "View" and "Trading" rights. Please do not give "Withdrawal" rights. 

Yes, you did it! You've created your bot! 

Step 3 - Final edits

A couple of small things are left to do. Make sure to adjust the start balance, so that your profit calculation is correct. Please do not use the ".. INVESTED & TOTAL .. RETURNS. These are only handy if you're also using other tools on your exchange account (not recommended).

(Paper trading only) Deposit your fake funds for those who use paper trading. Click "Deposit" and deposit fake funds that correspond with your quote currency.

If you already have investments on your exchange account, which you'd like to import, go to "Current Assets" on your dashboard and import them. Make sure to fill in the price you've bought them for! You can find this in the trade history of your exchange account. 

What are your next plans? Are you going to use Cryptohopper to manage all your accounts from one place? Are you going to auto-trade by copying an expert, or are you going to set it all up yourself? The possibilities are endless!

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