When comparing Cryptohopper vs Gunbot, the Slant community recommends Gunbot for most people. In the question“What are the best trading bots for cryptocurrency?” Gunbot is ranked 2nd while Cryptohopper is ranked 3rd. The most important reason people chose Gunbot is:
With your purchase, you get free customer support.
Ranked in these QuestionsQuestion Ranking
Pro No updates required
It runs on the developer's cloud 24/7, so there are no updates required.
Pro Free "Paper" trading mode
It is a mock operation mode that works on a simulated balance with the live market data to check if a specific strategy works for you. This bot lets you do this for free before you decide to upgrade to a paid subscription.
Pro Mirror trading
You can do "mirror trading", meaning you can subscribe to templates and bot settings made up by experts to maximize profits. This can potentially give you an edge even if you know very little about trading.
Pro It supports shorting
Shorting is leveraged trading to earn big profits in a bear market. Use this setting with caution as it's VERY risky. As risky as taking a loan in crypto for trading.
Pro Technical analysis capable
Technical analysis is a type of chart analysis meant to statistically identify "low risk, high profit" trades. The bot can be configured to use several technical indicators, meaning that it can adapt to changing market conditions using the rules of your choosing. It has several volatility indicators (such as Bollinger bands), trend indicators (such as MACD, SMA, EMA, KAMA), and volume and momentum oscillators (such as Stoch-RSI, RSI, etc.)
Pro It supports backtesting
Backtesting is basically running a set of rules on past market data and see how would the bot have performed during that period. With good projection, an experienced trader can always find similar market conditions to the current ones in past data and then carry out that winning strategy on to the future.
Pro It supports trailing stops
Trailing stops are automated sell orders that protect your capital in the event of a market crash to give you peace of mind. They are trailing because they get automatically raised as the price of an asset grows.
Pro API keys do not need deposit/withdrawal permissions
API keys are the "keys" to access your trading exchange account with a 3rd party app. If an app has withdrawal permissions, it can theoretically steal your crypto. This bot does not need such permissions to work, thus it can lose money if not configured properly, but it can't steal your money.
Pro Pricing is in US dollars
The majority of paid bots cover their fees in BTC, meaning that when BTC goes up, you may end up paying well over $1000 per month in fees. This bot, however, charges its subscription plans in US Dollars, meaning you will always pay the same no matter the price of bitcoin.
Pro Custom strategies
You can add your custom strategies and tweak them to your liking.
Pro Strategy marketplace
Once you've tweaked your trading strategy to the max, you can lend your best template settings and technical strategies to other users, for profit.
Pro Free Support
With your purchase, you get free customer support.
Pro Locally hosted
It runs on your PC, meaning you get to keep your money making tool even if the developing software company closes.
Pro Privacy friendly
Does not gather information about trades from users, nor does it gather analytical data.
Pro One time payment
There are no monthly subscription fees, you buy it one time and keep it forever.
Pro Multiple operating systems supported
It runs on Windows, Linux and Mac.
Pro Multiple buy & sell strategies
It supports over 32 different trading strategies.
Pro Free software upgrades
There is no extra charge for major version upgrades.
Pro Many supported exchanges
It supports Bittrex, Poloniex, Binance, Kraken, Bitfinex and Cryptopia exchanges.
Pro Tradingview option
Tradingview is the world's leading technical analysis and charting platform, which this bot can use.
Con Not locally hosted
If the software company ever decides to shut down, you will still have your funds because they are in your exchange account, but you will be left without your money making tool.
Con Not free
Unlike some other bots out there, this costs a monthly subscription.
Con Not open source
You can't tweak its core code.
Con Purchase fee is based on bitcoin's price
If the price of bitcoin goes up too much, you may end up paying thousands of dollars for a license.
Con Server recommended product
Since the bot needs to operate 24/7 with stability, and it will use a lot more resources after a few days running (it also tends to eat more RAM), it is recommended that you run a VPS (or get a separate computer to run it reliably).
Con Each module costs more money
If you want backtesting, its 0.025 extra BTC, and if you want Telegram Trading Insights (Telegram messages to monitor your bot trades), its 0.015 extra BTC.
Even the cheapest edition costs 0.05 BTC ($189.78), while the ultimate edition costs 0.15 BTC ($569.35). Note: the prices in US dollars are measured on 04/JAN/2019, and can change drastically with the price of bitcoin.