I am continuing today the Cryptohopper Introduction i began here. Long story short Cryptohopper is an online bot for crypto coins. The bot keeps an eye on the charts and determines the right moment to make a trade. The goal is to obtain more Bitcoin or USDT by trading Bitcoin or an altcoin for another coin at a low rate and selling back with a profit.
I would really appreciate if you sign up on Cryptohopper or any other exchange with my refferal links, that way you will help me bring better content you you. Thank you!
Cryptohopper: https://www.cryptohopper.com/?atid=19396
Binance: https://www.binance.com/en/register?ref=JWJDXDS4
My Discord Channel to talk or ask questions: https://discord.gg/NpJ8HMQ3dy
Just like manual trading, there are also risks involved when trading through Cryptohopper. My experience so far has been positive and made some nice profits. In a week as you can see i made 102$ with 960$ invested.
Just be sure that i do not offer financial advice and any mistake can be made. Be sure to put into only your money that you afford to lose.
We are going to setup an account so you can make use of your hopper right away.
It is very important to take your time to configure the settings in Cryptohopper. Don’t worry if you do not have enough knowledge, because you can also use template trading settings. In Cryptohopper you can do this by purchasing a trading template and a strategy. Various trading templates and strategies have been made available by experts who have excellent knowledge and experience in trading with crypto coins.
To start, you’ll need to open an account on Cryptohopper and on the Binance exchange. You can then link Cryptohopper with Binance. Your crypto coins will always remain on Binance, but you are allowing Cryptohopper to make trades on BINANCE for you.
You can also connect Cryptohopper with other exchanges like Bittrex, Kucoin and many others but in this article we’ll describe how to trade on Binance through Cryptohopper.
I strongly suggest to made trades in USDT or any other stable coin. So you must have USDT or another stable coin on Binance or any other exchange. That way you will avoid most issues that can appear on Bitcoin trading. So you will practically increase your dollars every day.
Another tip is to have a separate Binance account made especially for Cryptohopper trading. If you plan to use your main Binance account could get you into a bit of trouble in a sense that your orders will mix up, it will be a complete mess. So it is better to keep things separate.
Let's begin by creating an API key on Binance. Creating an API key is important, it is as a bridge between you and the exchange. Cryptohopper needs this bridge in order to do all the automated things such as placing automated orders and reading your balance to do all sorts of calculations with.
So, go to the Binance website, and create an account if you haven't already. Start by naming the API something memorable such as "Cryptohopper API". Then alter your API key settings. For API restrictions, Cryptohopper needs everything to be set to full access, except for "Enable withdrawals", this setting would allow someone to withdraw funds from your account using your API. This is not something that Cryptohopper wants or needs to operate successfully.
Please careful note your Binance Api Key and your Binance Api Secret.
Navigate to your Cryptohopper account on left side of the screen on Config -> Baseconfig. From there on out, you can click on the tab labeled "exchange". Select your exchange, fill in your API key and you are done! Paper trading is to remain unchecked. If you check it all trading will be made with test money, so you wont lose anything but you also want win. It is just for test purposes if you want to see how the hopper works.
Give the hopper a moment to link everything and your balance should be loaded. Congrats, you linked Binance to Cryptohopper.
I will continue in Part 2 with setting the Hopper :)
