Whether you want to learn about cryptocurrency as a technology or as a means to make passive income on the side, actively trading your assets for added profits is a lucrative thought.
But manual trading isn’t a walk in the park. Apart from asking you to dedicate your sole focus on the activity, it requires you to act fast in the face of challenges. If you are going in blind, you have no option other than to turn down manual trading for the sake of your sanity and funds alike.
Enter cryptocurrency trading bots. With these solutions, you can move forward with utilizing your crypto funds through an automated trading tool. Since automated trading sets you free of sitting in front of a computer screen 24/7, you can use this solution and its offered strategies even with your day job.
One such bot is CryptoHero, which is an emerging yet reputable brand that allows you to trade your digital assets with the utmost ease.
To see how CryptoHero can help you buy and trade cryptocurrency without manual intervention, here’s a review of the service and what it brings to the table.
What is CryptoHero and How Long Has It Been in Business?
Established in late 2020, CryptoHero is a cloud-based cryptocurrency trading bot that is operated through a web browser interface. The Singapore-based automated tool is designed to be intuitive, simple, and easy to use. This makes it a perfect solution for beginners who have little to no experience trading cryptocurrency manually or automatically.
The user-friendliness is a big part of CryptoHero’s value proposition, which takes pride in the accessibility of its solutions for all types of cryptocurrency users. This approach also translates into the solution being available through modern web browsers with no software installation required in place.
This plan also shines through in the iOS app that CryptoHero has developed specifically for mobile trading purposes. At the time of writing, an Android version is still in development.
Through these offerings, CryptoHero aims to cater to cryptocurrency traders from all walks of life and delivers on its claims through well-organized features. These functionalities include long and short strategies, technical indicators, multiple trading bots, backtesting, paper trading, and artificial intelligence (AI) optimized bots.
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How Reputable is CryptoHero?
At the time of writing, CryptoHero has only been in operation for less than a year. But despite its short time in the industry – that too as a new kid on the block – it has carved a niche for itself.
This outreach is especially true for the trading bot’s target audience, which comprises new cryptocurrency traders who have either started trading digital assets quite recently or haven’t used an automated bot at all before.
The handful of reviews that are available for CryptoHero all sing its praises. Whereas, there seem to be no major complaints against its service or what it claims to sell in terms of easy accessibility to automated trading. This adds to the cryptocurrency bot’s reputation, even though it’s newer than many of its more well-known competitors.
Which Exchanges Does CryptoHero Support?
CryptoHero supports four major exchanges, which include the following:
With that being said, CryptoHero does not support all cryptocurrency pairs that are available on these exchanges.
For instance, on Binance, the solution supports USDT, BUSD, USDC, BTC, and ETH pairs for a majority of available cryptocurrencies on the exchange. But it puts a restriction on BCH/ETH, XTZ/ETH, and XTZ/USDC.
Due to this reason, it is important that you look into the supported cryptocurrencies for your specific exchange. This ensures that you are able to make an informed decision regarding the pairs you want to be able to trade without any problems.
How Much Does CryptoHero Cost?
CryptoHero offers a subscription service for its cloud-based solution that comes on a monthly and yearly basis. Dubbed Premium, the plan is available for $9.99/month on a month-by-month arrangement or $7.96/month on yearly payment.
Apart from the paid Premium plan, CryptoHero also offers a Free plan that comes without any costs to its packages. But there are multiple restrictions in the Free package as compared to the paid plan.
To help you get a good look at both plans, here’s a brief summary of their offerings.
Along with standard offerings such as long strategy, short strategy, backtesting, and paper trading, the Free plan comes with 3 active bots and 1 API/exchange connection. This plan supports all four exchanges that are available under CryptoHero’s banner at the moment.
The Premium Plan has everything that the Free plan does. But it has 15 active bots and 3 API/exchange connections.
This means that if you wanted to connect your accounts on multiple exchanges, the Premium Plan is the way to go. This also holds true if you need access to more than 3 bots at a given time. However, it’s important to remember that apart from key differences, both plans have similar features.
For instance, both offer the full range of technical indicators offered by the solution such as Bollinger Bands (BB), Exponential Moving Average (EMA), and Relative Strength Index (RSI).
Once you have subscribed to either of the plans, you can use CryptoHero on either a desktop web browser or the associated mobile app that is currently available for iOS.
How Easy to Use is CryptoHero?
Since CryptoHero is designed with novice users in mind, it is incredibly easy to use for traders from all walks of life. Whether you are trying to get a hang of cryptocurrency trading or need something simple to leverage your years of knowledge in the trading world, the solution offers you a simplified way to do so.
CryptoHero is a cloud-based service, which means that it doesn’t need to be installed on a separate computer. Instead, you can access it through modern web browsers from a variety of personal computers or laptops with ease.
To access CryptoHero through mobile devices, you need to install the associated app. But this is no more difficult than downloading your favorite streaming app. The interface of the mobile app is also quite easy to use and gives you all the information and functionalities that you need for trading on the go.
These design and accessibility offerings make sure that you are able to get the most out of your use of CryptoHero, regardless of the experience you hold in cryptocurrency or automated trading.
What Kind of Security is Offered?
CryptoHero offers basic security mechanisms that include hosting the program on a secure protocol (HTTPS) as well as the usage of application programming interface (API) keys. While CryptoHero itself doesn’t seem to boast of multi-factor authentication (MFA), it depends on the corresponding exchanges to verify the user’s account during the bot setup phase.
By the usage of API keys, the CryptoHero program ensures that you don’t have to share your exchange account’s password with the solution. Instead, you can give CryptoHero backend access to your accounts. This makes sure that you don’t have to compromise your password while also being able to use CryptoHero’s trading bot.
But when you are using the API key, you need to make sure that you are only giving the bot “Trade” level or similar permission instead of “Withdrawal” authority. This ensures that CryptoHero isn’t able to withdraw funds from your account and instead only trades them on the given exchange as it should. Similar to other reputable trading bots, this practice of giving trade-level permissions is strongly encouraged by CryptoHero to avoid any unsavory incidents.
These security offerings cover the foundational-level security. Since the solution doesn’t offer MFA itself, it lags behind in that segment. But it still caters to the basic requirements pretty well.
How Good is CryptoHero Customer Support?
CryptoHero’s customer support comprises a live chat option. In case no customer service agents are present, your inquiry is sent in a queue-based system, where the next available agent answers it as soon as possible.
Apart from this, the solution offers a detailed help section that caters to the setup and usage of the bot itself. This particular guide is helpful for those who hold no sufficient experience of trading digital assets or using a cryptocurrency bot.
As a result, CryptoHero’s offerings in customer support remain average. But the availability of a detailed knowledge base does work wonders to help new users set up and manage the solution on an active basis.
How Profitable is CryptoHero?
CryptoHero does not mention how profitable its solutions can be. This is due to the uncertainty that makes crypto trading so lucrative in the first place.
Since asset values can fluctuate on a rapid basis, what may have worked in the past may not work in the future. That is why, despite the availability of backtesting and paper trading, CryptoHero doesn’t project the type of profits you can generate.
With that being said, the automated trading bot does offer a highly capable solution at a captivating price. This makes sure that by the usage of different strategies, indicators, and actions, you can continuously fine-tune your approach to get maximum profits out of your actions.
All in all, CryptoHero offers an appealing solution to its audience in the form of an easy-to-use, accessible, and affordable cryptocurrency bot. Whether you decide to use the solution on your laptop or your mobile device, you can easily go through the setup phase and then start trading your digital assets with the utmost simplicity.
You can sign up for the Free plan right off the bat and check whether you like what CryptoHero has to offer. This availability of a free-of-charge plan can help you greatly in making an informed decision.