Cryptohopper Introduces Mainstream Techies to Trading Bot Marketplace at CES 2019
Cryptohopper is a trading bot software-as-a-service company based in the Netherlands. The platform itself acts as a trading bot marketplace and trading school of sorts. They allow veteran traders to sell trading algorithms in their marketplace. More importantly, they allow beginning traders to buy working strategies and use them. They have a booth at the annual Computer Electronics Show in Las Vegas. If you’re at the event, you can find their booth here .
People can also try out trading strategies using “paper trading” on the site.
Quantitative Trading for Everyone
Quantitative trading is the technical term for trading strategies which focus primarily on market activity. Computers do most of the quantitative trading in modern markets. Human traders still play a valuable role in the market place. Quantitative trading supplants other strategies at a rapid rate due to its success.
Occasionally quant firms and bots have been blamed for severely bad market performance. When the market is raised by the same entities, it’s rare that anyone sings their praises. Either way, bot-assisted trading is highly interesting to people looking to make a start in the still-nascent crypto markets. Trading bot marketplaces have existed for Dow Jones and other traditional indexes for years, such as this one .
Cryptohopper CEO Ruud Feltkamp said:
Originally a cryptocurrency trading bot for professional traders, Cryptohopper has evolved into a platform where everyone can implement trading strategies that professionals use on a daily basis. There is still serious demand from mainstream consumers who are getting into cryptocurrency trading but most do not know or have time to learn technical analysis. They just take a gamble or buy coins to HODL and ignore the trading game that professionals play. Cryptohopper fills this gap by allowing inexperienced users to register, buy a trading strategy from a professional trader and have their trading bot execute trades on their behalf, 24/7.
Cryptohopper aims at beginning traders. It hosts the bots and strategies. Subscriptions range from $19 to $99 per month. The base subscription allows up to 80 positions across 15 cryptocurrencies, while the top tier plan is unlimited. The platform pays users selling their trading strategies out of these subscription fees.
Grandchildren of Willy Bot?
Trading bots have been around since the beginning of crypto trading. The industry’s most famous bot is Willy, blamed in part for the implosion of Mt. Gox.
High-level and high-volume traders host their own bots and often keep their algorithms secret. Retail investors with smaller holdings are a more recent target market of bot development. Trading bot marketplaces are likely to grow in demand on the next big bull run.
People at CES will be able to try out the platform on the spot. Several other crypto firms have booths at CES this year. Lawnmower-clone Bundil is among them, along with hard-wallet provider CoinPlus . BTU Protocol is there along with blockchain-based Internet of Things company SmartAxiom . Perhaps two dozen blockchain companies are represented in all at the major mainstream event.
Featured image from Shutterstock.
