Cryptohopper VS 3Commas: Which One Is Better?
Cryptohopper and 3Commas are two leading platforms in the crypto trading bot market. Choosing between them can be a challenging task as both offer a wide range of features and tools that make crypto trading easier. To help you determine which platform stands out, we will compare both platforms and highlight their positives and negatives.
Cryptohopper VS 3Commas: Which One Is Better?
Cryptohopper and 3Commas are two of the most popular crypto trading bot platforms in the marketplace. They offer a wide range of features and tools, making crypto trading easier for users. However, choosing the right platform can be challenging due to the similarities between them. In this article, we will compare Cryptohopper and 3Commas to help you make an informed decision.
Cryptohopper
Cryptohopper, a renowned cryptocurrency trading bot platform, was established in July 2017 and has its headquarters in Amsterdam, Netherlands. Founded by two brothers, Ruud Feltkamp, an accomplished day trader, and Pim Feltkamp, a skilled web developer, the platform has garnered a substantial user base of more than 229,000 registered traders. Cryptohopper's exceptional features and performance have solidified its position as a preferred choice in the competitive crypto trading bot market.
Cryptohopper specializes in automated bot trading and provides advanced trading signals, exchange arbitrage, mirror trading, strategy design, backtesting, and more. The platform offers a fee-based service that caters to both beginner and experienced traders.
3Commas
3Commas is a platform based in Vancouver, Canada, and was founded in 2017 by Yuriy Sorokin. With over 220,000 registered users, 3Commas has gained a significant following in the crypto trading bot industry. The platform is known for its smart trading terminal and a range of auto trading bots that cater to various trading needs.
3Commas is designed to meet the unique requirements of every type of trader, including beginners. The platform offers a user-friendly interface and provides simple automated trading tools
Crypto Exchanges Supported
Both Cryptohopper and 3Commas support trading on various exchanges through API integration. Here's a breakdown of the supported exchanges:
Cryptohopper supports 13 leading global exchanges, including HitBTC, OKEx, KuCoin, Binance Futures, Coinbase Pro, Kraken, Huobi, and more. This wide range of supported exchanges provides users with flexibility and access to multiple markets.
On the other hand, 3Commas supports 23 of the best crypto exchanges, including Bittrex, Bitmex, Coinbase Pro, Binance, KuCoin, Kraken, and many others. With an even larger selection of exchanges, 3Commas offers users more options to trade on their preferred platforms.
Winner: 3Commas offers a wider range of choices when it comes to supported exchanges, giving users more flexibility in their trading activities.
Trading Tools/Platform Features
Both Cryptohopper and 3Commas offer a variety of trading tools and platform features to enhance the trading experience. Let's take a closer look at what each platform provides:
Cryptohopper's platform features include:
Automatic Trading: Cryptohopper utilizes over 130 indicators and candlestick patterns to make trading decisions. Users can set up trading bots within 5 minutes and start trading. The platform can track up to 75 coins simultaneously and apply trading strategies accordingly.
Strategy Designer: Cryptohopper offers a powerful Strategy Designer feature that empowers users to personalize their trading strategies. With access to a vast array of indicators and over 90 candle patterns, traders can craft custom strategies that align with their unique trading goals and preferences. This comprehensive tool enables users to fine-tune their approach and make data-driven decisions in the dynamic cryptocurrency market.
Paper Trading/Backtesting: With paper trading, users can test the effectiveness of their customized strategies without risking real funds. This feature enables traders to refine their strategies before implementing them with real money.
Risk Management: Cryptohopper provides trailing features such as trailing stop-loss, trailing stop-buy, and trailing stop-short to help limit potential losses.
The Marketplace: Professional traders can become sellers of their own trading strategies on the Cryptohopper marketplace. Additionally, users can integrate third-party signal providers into the platform through mirror trading. The marketplace offers advanced strategies and real-time performance reports for crypto signals and seller ratings.
Trading Bots/Tools: Cryptohopper offers two types of trading bots, arbitrage bots, and market maker bots. The arbitrage bot searches for arbitrage opportunities between exchanges, while the market maker bot searches for arbitrage opportunities within an exchange. Other available trading tools include trailing stop loss, scalp trading, positive pair trading, triggers, dollar-cost averaging, short selling, and target searching.
On the other hand, 3Commas primarily focuses on automatic trading bots and provides a range of trading tools, including:
Smart Trading Terminal: 3Commas offers a smart trading terminal that allows users to optimize their trading process. Features include take profit and stop-loss order options, trailing take profit and stop-loss orders, selling by multiple targets, and the ability to receive trade signals from TradingView.
Automated Trading: 3Commas offers tools such as simple bots for single pairs, composite bots for multiple trading pairs, long and short algorithms, custom TradingView signals, CQS scalping, TA presets, and the ability to copy other successful bots on the platform.
Portfolio Management: Users can create portfolios with any coin amounts, balance their portfolios by maintaining an ideal coin ratio, and check the performance of other 3Commas users' portfolios.
Winner: 3Commas offers more flexibility in trading strategies through the use of custom signals and composite bots, enabling users to execute more complex trading strategies.
Pricing Structure
Next, let's compare the pricing structures of Cryptohopper and 3Commas:
Cryptohopper offers four different account types, including a free account package:
Pioneer: This is the free account type that provides access to the strategy builder, portfolio management, 130+ indicators and candlesticks, strategy backtesting, and manual trading. However, it does not offer access to the automated trading feature.
Explorer: The Explorer pack costs $19 per month and includes all the features of the Pioneer pack. Additionally, users can manage up to 80 positions in 15 different coins, gain access to automated and copy trading features, perform backtesting, and use technical analysis with 10-minute intervals.
Adventurer: Designed for professional traders, the Adventurer pack is priced at $49 per month. It includes all the features of the Explorer pack, along with the ability to take up to 200 positions in 50 different coins, access to 5 triggers, technical analysis with 5-minute intervals, and features such as automated trading and exchange arbitrage.
Hero: The Hero pack is suitable for high-frequency traders and costs $99 per month. It provides access to all the features of the platform, including beta versions. Users with a Hero account type can enjoy the full range of features available on Cryptohopper.
On the other hand, 3Commas offers three different account types and does not offer a free account:
Starter: The Starter pack is priced at $14.50 per month and offers smart trading terminals for both spot and futures markets. It includes concurrent take profit and stop-loss features for risk management, as well as short and long trade algorithms. However, it does not provide access to automated trading.
Advanced: The Advanced pack is billed at $24.50 per month and provides access to all the features of the platform. While it offers limited access to automated trading, users can utilize features such as a simple bot, short algorithm, long algorithm, and the ability to view and copy other bots.
Pro: The Pro account type is the premium option, costing $49.50 per month. It grants users access to all the trading tools and features of the platform. Additionally, the Pro account offers a three-day free trial period and includes a free educational course.
Winner: 3Commas has an advantage over Cryptohopper in terms of pricing structure. It provides a range of account types at affordable prices, catering to different trading needs.
Support
Having reliable customer support is essential when using trading bot platforms. Let's compare the support systems of Cryptohopper and 3Commas:
Cryptohopper has a robust support system in place, offering multiple channels for users to seek assistance. The support options include a live chat feature with quick response times (typically within 5 minutes), email-based ticketing, and a knowledge base containing articles on platform features, common errors, and bot usage.
Similarly, 3Commas also provides a live chat feature with a response time of under 10 minutes. Users can reach out for support via email, and the platform offers a comprehensive knowledge base with articles covering various platform features and bot trading.
Winner: Cryptohopper has a responsive customer support team and an extensive knowledge base, ensuring that users can quickly find solutions to their queries or concerns.
Conclusion: Which is Better - Cryptohopper or 3Commas?
In conclusion, both Cryptohopper and 3Commas are highly efficient trading bot platforms with a slight difference in features. Choosing between the two depends on individual preferences and requirements.
Both platforms offer a wide range of tools and features to automate cryptocurrency trading and enhance profitability. Cryptohopper specializes in automated bot trading, advanced trading signals, exchange arbitrage, mirror trading, strategy design, backtesting, and more. On the other hand, 3Commas focuses on providing a smart trading terminal and a variety of auto trading bots suitable for traders of all levels.
When it comes to crypto exchange support, Cryptohopper supports 13 leading global exchanges, including HitBTC, OKEx, KuCoin, Binance Futures, Coinbase Pro, Kraken, and Huobi. Meanwhile, 3Commas supports 23 exchanges, including Bittrex, Bitmex, Coinbase Pro, Binance, KuCoin, Kraken, and others. In terms of flexibility and exchange options, 3Commas has a slight edge.
Regarding pricing, Cryptohopper offers a range of account types, including a free option with limited features. The paid plans start at $19 per month for the Explorer pack and go up to $99 per month for the Hero pack. 3Commas, on the other hand, offers three paid account types: Starter ($14.50 per month), Advanced ($24.50 per month), and Pro ($49.50 per month). Considering the pricing structure, 3Commas offers more affordable options for traders.
In terms of customer support, both platforms provide reliable assistance through live chat features, email support, and knowledge bases. Cryptohopper's support team is known for its quick response times, while 3Commas also offers a responsive support system.
Ultimately, the choice between Cryptohopper and 3Commas comes down to personal preference. Traders should consider their specific trading needs, preferred features, exchange support, and pricing structure. It's recommended to try out both platforms using their free trials to determine which one aligns better with individual requirements.
Thank you for reading our comparison guide between Cryptohopper and 3Commas!
FAQs (Frequently Asked Questions)
Can I use both Cryptohopper and 3Commas simultaneously? Yes, you can use both platforms simultaneously if you wish. However, it's important to manage your trading strategies effectively to avoid any conflicts or unwanted outcomes.
Do Cryptohopper and 3Commas provide mobile apps for trading? Yes, both platforms offer mobile apps that allow users to monitor and execute trades on the go. You can download the apps from the respective app stores.
Can I switch between different account types within Cryptohopper or 3Commas? Yes, you can upgrade or downgrade your account type within both platforms based on your trading needs. However, it's advisable to review the features and pricing of each account type before making any changes.
Are there any additional fees involved apart from the monthly subscription? While the monthly subscription covers most features offered by both platforms, it's essential to review their fee structures to understand any potential additional charges for specific services or advanced features.
Is it necessary to have prior trading experience to use Cryptohopper or 3Commas? No, both platforms are designed to cater to traders of all levels, including beginners. They offer user-friendly interfaces, educational resources, and support features to help users navigate the world of automated trading effectively.
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