Hey there! If you‘ve been exploring automated crypto trading bots lately, you must have come across CryptoHero. Launched in 2021, this cloud-based bot has been creating quite a buzz in the market.
But is CryptoHero worth your time and money? Can it deliver solid returns compared to other top trading bots out there?
Well, I‘ve tested and reviewed dozens of crypto bots over the years. And in this detailed CryptoHero review, I‘ll give you an in-depth look at what it does, how it works, features, pricing, and most importantly – is it a safe and legit platform to use?
Let‘s get started!
Contents
Overview – What is CryptoHero?
CryptoHero is an automated cryptocurrency trading platform that lets you build, backtest and run crypto trading bots using a visual drag-and-drop builder.
Created in 2021 by a team of trading and technology veterans, CryptoHero aims to make algorithmic trading accessible for everyone. The company boasts over 50,000 users on its platform so far.
CryptoHero connects to supported crypto exchanges like Binance, Coinbase, KuCoin etc. via API. You can then use inbuilt signals, indicators and actions to construct trading strategies visually without writing any code.
The bots run these strategies 24/7 to execute automated trades on your linked exchange accounts.
Some key features offered by CryptoHero:
- Drag-and-drop bot builder with no coding needed
- Prebuilt signals, indicators and actions to automate strategies
- Tools to set buy/sell rules, take profit, stop loss etc.
- Backtesting strategies using historical data
- Portfolio analytics to track performance
- Mobile trading apps for Android and iOS
- Cloud-based bots running 24/7
CryptoHero offers a free starter plan plus paid plans at $13.99 and $24.99 per month. Is it worth the price? Let‘s analyze in detail.
How CryptoHero‘s Trading Bots Work
CryptoHero stands out from other trading bots because of its beginner-friendly drag-and-drop strategy builder.
As someone without a coding background myself, I found this visual bot building approach extremely intuitive.
Here are the key elements of CryptoHero‘s strategy builder:
Signals
Signals trigger your bot to take certain actions like buy, sell etc. CryptoHero offers prebuilt signals based on price, volume, volatility indicators like RSI, moving averages etc.
Logics
Logics define the conditions that need to be true for a signal to trigger. For example, you can set a logic that RSI must be below 30 for a buy signal to trigger.
Actions
These define what action is taken when a signal fires. You can set actions like buy, sell, take profit, set stop loss and more.
By connecting these elements visually, anyone can automate their trading strategies without coding experience. The bot will then execute the trades 24/7 based on your strategy rules and market conditions.
You can also backtest strategies on historical data to fine tune performance before going live.
So while the drag-and-drop builder offers simplicity, it comes at the cost of limited customizability compared to code-based platforms.
Supported Exchanges and Coins
CryptoHero supports a decent range of popular crypto exchanges including:
- Binance
- Coinbase Pro
- KuCoin
- Kraken
- Bitfinex
- Huobi
- OKX
- Bybit
- And 5 more
This allows you to automate trades across various exchanges from a single CryptoHero interface.
In terms of coins, you can trade any cryptocurrency available on the connected exchange – that‘s over 500 coins in the case of Binance for example.
I always prefer bots that give me the flexibility to trade on multiple exchanges versus just one.CryptoHero definitely scores well in this aspect.
Key Features and Tools
Here are some of the most useful features provided by CryptoHero:
| Feature | Description |
|---|---|
| Trader‘s Panel | Provides an overview of all active bots, profits/losses, orders, portfolio etc. |
| Strategy Builder | Visually build trading strategies without coding by connecting signals, indicators, logics and actions. |
| Backtesting | Evaluate strategies by testing them on historical chart data before live trading. |
| Bot Modes | Choose between "make money" or "save money" mode depending on market conditions. |
| Smart Sell | Automatically sell coins at optimal times to book profits. |
| Dedicated Mobile Apps | Manage bots on the go via CryptoHero‘s iOS and Android apps. |
| Free Plan | Test the platform for free with 1 trading bot. |
Other handy tools include DCA buying, stop loss to control losses, TRAIL profit to dynamically book gains as price rises, and OCO orders.
CryptoHero also provides a handful of prebuilt bot templates that serve as a starting point to create your strategies.
Overall, CryptoHero covers a decent amount of features to automate basic trading strategies. But advanced functionality like derivatives trading, arbitrage across exchanges, etc. is not possible.
Ease of Use
This is one of CryptoHero‘s biggest selling points in my experience – the platform is extremely beginner-friendly.
Everything from bot creation to configuration and management happens via intuitive graphical interfaces. Additional coding or technical skills are not required at any step.
Dragging strategy elements visually to link them is a breeze. Backtesting those strategies is also easy – just specify a date range and hit run.
Once your bots are live, you can monitor performance conveniently via the trader‘s panel. Key metrics like profit/loss per bot, total portfolio balance, open trades etc. are displayed on a neat dashboard.
The mobile apps also allow seamless bot management from anywhere through your phone. I found them bug-free and reliable in my testing.
Overall, CryptoHero has designed the platform with simplicity in mind. Complete beginners will certainly find it easy to use with a shallow learning curve.
But this simplicity comes at the cost of less customizability for advanced traders – which I‘ll discuss next.
Limited Customization Options
While CryptoHero is designed to be easy to use, experienced traders may find it limiting in terms of customization.
The drag-and-drop builder only allows you to work with prebuilt signals, indicators, logics and actions. There is no way to code your own components from scratch.
This restricts the flexibility in designing complex strategies tailored to your specific trading style and risk appetite.
For instance, advanced tactics like creating custom indicators, using multiple data sources, building machine learning models etc. are not possible on CryptoHero currently.
So seasoned traders looking for more control via coding are better off with platforms like Bitsgap, 3Commas, Coinrule etc. These don‘t have visual builders but allow unrestrained customization for experts.
Security – How Safe is CryptoHero?
Security is a critical consideration when choosing a trading bot since they have access to your exchange API keys.
CryptoHero stores API keys encrypted using the AES-256 algorithm. Keys are held temporarily in encrypted memory while trading is active.
Other standard security practices followed include:
- Mandatory 2-factor authentication (2FA)
- DDoS protection and infrastructure monitoring
- Data encryption in transit and at rest
- Contracts with exchanges on API key handling
I couldn‘t find any public reports of security breaches at CryptoHero which is reassuring. However, I advise traders to always proceed with caution with any third party service.
Some tips worth following:
- Only grant "read-only" API access initially instead of full "trade" access
- Use a dedicated exchange account for bot trading with limited funds
- Never put all your crypto assets with one service provider
- Monitor bot activity closely especially when testing new strategies
By taking basic precautions, your funds should remain safe even if a bot behaves unexpectedly.
So in summary, CryptoHero appears to follow sound security practices but be vigilant as with any online service handling your money.
CryptoHero Pricing and Plans
There are three pricing plans available on CryptoHero as follows:
| Plan | Monthly Price | Key Features |
|---|---|---|
| Basic | Free | $0/month 1 trading bot1 exchange connection |
| Premium | $13.99/month | 15 trading bots3 exchange connections |
| Professional | $24.99/month | 40 trading botsUnlimited exchange connections |
The free Basic plan is great for trying out the platform. Premium unlocks more features for casual traders while Professional caters to advanced power users.
CryptoHero does not charge any transaction or commission fees – you only pay the monthly plan cost.
Compared to platforms like Bitsgap (starts at $19/month) and Coinrule ($29.99/month), CryptoHero‘s pricing seems very competitive in my view.
Low costs allow newbies to dip their toes into algorithmic trading without spending too much initially.
Customer Support
CryptoHero provides customer support via the following channels:
- Live chat
- Support emails
- Documentation resources
Based on my experience, response times via live chat are reasonably prompt during working hours. But occasional delays can happen during peak traffic times.
Support for complex technical issues could be improved in my view. Currently, the level offered is adequate for general queries but lacks depth for strategy optimization requests etc.
Phone or video call support would also add more value for troubleshooting complex problems.
Overall, CryptoHero customer support meets expectations for a platform focused on beginner traders. But there is certainly scope for improvement as the user base expands.
Verdict – Should You Use CryptoHero?
So what‘s the final call? Is CryptoHero worth using over other crypto trading bots?
Here‘s a quick summary of my key findings:
Pros
- Intuitive visual strategy builder requires no coding
- Perfect for complete beginners to understand algorithmic trading
- Decent range of prebuilt signals, indicators and actions
- Good selection of supported exchanges
- Easy backtesting before live trading
- Reasonably priced subscription plans
Cons
- Functionality limited compared to advanced platforms
- Lack of coding access restricts customization
- Sparse educational resources beyond documentation
- Customer support needs improvement
In conclusion, CryptoHero is a great starting point for crypto newbies given its simplicity and ease of use. But advanced traders will be better off with a platform like Bitsgap or Coinrule.
I would recommend CryptoHero if you have zero coding expertise and want an easy entry into algorithmic trading. It handles the automation basics reasonably well.
But for serious traders seeking maximum customizability, other bots offer greater flexibility and power.
So give the [free plan a test run][link] and see if CryptoHero meets your requirements as a beginner crypto trader before upgrading. Let me know if you have any other questions!
