Automated cryptocurrency trading has grown in popularity over the years as more and more tools have come onto the market to enable crypto investors to carry out specific trading strategies.
CryptoHopper is one of the leading companies in this space providing trading bots and an automated trading platform for investors. As of today, CryptoHopper users can now seamlessly use CryptoTrader.Tax to handle all of their crypto tax reporting from their automated trading activity on CryptoHopper.
CryptoHopper is a crypto trading bot used by hundreds of thousands of traders all over the world. Users can connect directly to the exchanges they use and setup the CryptoHopper bot to execute trades on their behalf.
By creating automations and custom strategies within CryptoHopper, traders remove emotion and save time and energy as the software executes your trading strategies 24/7.
Whether you are a beginner or an experienced trader looking for deep functionality to maximize your crypto trading profits, CryptoHopper has tools for you. Trading features like paper trading, backtesting, trailing stop-loss and a strategy designer tool makes it easy to customize your strategy. You can also leverage over 130 indicators and candle patterns within the platform to help dictate your trades.
CryptoHopper is cloud-based and supports up to 13 exchanges, and they are always adding more. For advanced traders, CryptoHopper has a marketplace of free and paid signals which you can combine with technical indicators to customize your own strategy.
Learn more about CryptoHopper and associated features here.
Cryptohopper’s trailing features demonstrate the power of trading with a bot.
When your Hopper is "trailing", it is automatically following the price and waiting for an action to take. Such actions could be adjusting your take profit when the price drops, placing a buy order when the price goes up, or buying back your position when it was in a short. These strategies are known as Trailing Stop-Loss, Trailing Stop-Buy & Trailing Stop-Short.
Within CryptoHopper, your strategy designer allows you to select between common indicators and candlestick patterns and then execute trades based on the proper response to these indicators—whether that is buy, sell, or hold.
There are four different types of Technical Indicators; Trend, Momentum, Volatility, and Volume Indicators. You can select multiple indicators, including moving averages and momentum indicators, and scan their crossings and values on numerous time frames. All of these indicators can be tweaked and adjusted based on your strategy. Other available technical indicators include Moving Averages, Money Flow Index (MFI), Balance Volume (OBV), Relative Strength Index (RSI), Bollinger Bands, and more!
CryptoTrader.Tax users are eligible to receive a 20% discount on Adventure and Hero Hopper subscriptions from Cryptohopper using code: CRYPTOTRADERTAX. Use the discount code here.
It’s easy for crypto investors who are using bots to rack up a high volume of trades relatively quickly. While this can be effective for capitalizing on trading profits, it can make tax reporting much more tedious.
To make this process easier, CryptoHopper users can automate all of their tax reporting that is associated with their trading activity by connecting their exchange accounts to CryptoTrader.Tax.
After exchange accounts are connected, you can import all historical transactions and trades directly into your CryptoTrader.Tax account. Simply generate your crypto tax reports based on this data with the click of a button.
You can learn more about how CryptoTrader.Tax works here.