Automated trading is one of the most revolutionary discoveries in the financial space. A trader can trade the markets without manually placing buy and sell orders. This has also paved the way for the $18.8 billion algorithmic trading industry.
Many new traders are inclining towards crypto trading bots, which has resulted in a new hurdle — choosing the right crypto trading bot.
Today, let’s talk about TradeSanta and Cryptohopper and compare their features, pricing, and security to help you find the best platform.
TradeSanta Vs. Cryptohopper: Supported Exchanges & Cryptocurrencies Comparison
TradeSanta and Cryptohopper both support an array of cryptocurrency exchanges and trading pairs.
On the other hand, Cryptohopper offers many more options. It currently supports EXMO, OKEX, Bitvavo, Bitpanda Pro, HitBTC, Bittrex, Poloniex, Coinbase Pro, Binance, Binance US, Bitfinex, Huobi, KuCoin, Kraken, and Cryptpo.com.
Cryptohopper allows you to trade and manage 100+ cryptocurrencies from the top crypto exchanges in the world. These include BTC, ETH, LTC, XRP, ADA, and many more.
Let’s talk about TradeSanta first. TradeSanta currently supports Binance, Binance US, Binance Futures, HitBTC, Coinbase Pro, Huobi, OKEX, and UPbit. When it comes to trading pairs, TradeSanta supports over 6,000 trading pairs.
These include crypto-fiat (BTC/USD), crypto-stablecoin (BTC/USDT), and crypto-crypto pairs (ETH/BTC).
Verdict: It’s a tie, as both TradeSanta and Cryptohopper support multiple exchanges and cryptocurrency pairs.
Trading Tools, Strategies, Platform Features Comparison
Both TradingSanta and Cryptohopper are feature-rich platforms with various tools and functionalities. Let’s draw a head-to-head comparison between the two platforms and the features they offer.
Let’s start with Cryptohopper first. Let’s see how Cryptohopper performs against TradeSanta.
- Automatic Trading
Cryptohopper’s automated trading bot allows you to trade 24/7, 365 days a year without even looking at the screen and charts. All you need to do is select a strategy that works for you and implement a bot for it. The bot takes care of the rest.
Cryptohopper’s bot is one of the most powerful trading bots in the crypto landscape. The bot is data-driven and highly precise. You can use it in all kinds of markets — bullish, bearish, and sideways — to generate attractive profits.
The Cryptohopper bot leverages different strategies based on the market scenario.
For instance, it uses technical analysis and trailing stop loss in bull markers, scalp trading and positive pair trading in sideways markets, and triggers, short selling, and DCA in bearish markers.
- Exchange Arbitrage
Cryptohopper allows you to make profits from the price differences between the same pairs of different exchanges. Since cryptocurrency exchanges are unregulated, the price of the same pair can vary on different exchanges.
Cryptohopper’s arbitrage bot allows you to connect multiple exchanges and execute arbitrage trading. The bot buys a pair from an exchange at a lower price and sells it for a profit at a higher price on another exchange.
- Market Making Bot
Cryptohopper’s market-making bot automatically places market-making orders. Crypto exchanges charge a low fee on market maker orders, and some exchanges even offer a rebate. With Cryptohopper’s market-making bot, you can use advanced configurations and different market-making strategies.
- Mirror Trading
If you’re not sure which trading strategy to use, you can use Cryptohopper’s mirror trading option. It automatically copies strategies of expert trades and trades anonymously. Hence, you can skip the hassle of formulating winning strategies.
- Algorithm Intelligence (AI)
Cryptohopper’s unique algorithmic intelligence (AI) is an exclusive feature that backtests all your strategies automatically and determines the best strategy for you. You can add, test, and deploy strategies and discover the best ones.
- Trailing Stops
Trailing your stop-loss is as important as setting it. If your trade moves up in your direction, you should trail your stop loss to secure your profits. Cryptohopper’s trailing stops feature allows you to trail your stop losses easily and effectively.
- Paper Trading
If you’re new to crypto trading, you may not be comfortable trading with real money. Cryptohopper has a paper trading terminal where you can trade with virtual currency and test your strategies without spending real money.
Verdict: Cryptohopper is the winner, as it has more features and functionalities than TradeSanta.
Here are the features, tools, and strategies available on TradeSanta.
- Grid and DCA Bots
TradeSanta allows you to implement DCA and Grid trading strategies on all the supported exchanges. You can pick a strategy based on your trading style and determine whether you want to take profit separately or as an average of all orders.
Based on your preferences, the bot will execute a DCA or Grid trade.
- Long and Short Strategies
Simultaneously placing long and short orders is a common automated crypto trading strategy. TradeSanta lets you launch trading bots to execute this strategy. Once you activate this strategy, you will earn profits regardless of where the market goes.
- Stop-Loss Orders
Stop-loss orders are an essential aspect of cryptocurrency trading. With the market being so volatile, traders need to place stop-loss orders when trading.
TradeSanta allows you to place stop-loss orders for bot trading. If the price reaches your stop loss level, the TradeSanta bot will automatically square off your positions. Hence, you can exit a trade for a small loss if things go south.
- Technical Indicators
TradeSanta offers three powerful indicators: RSI, MACD, and Bollinger Bands. You can also plot these indicators simultaneously to generate accurate trading signals and take high-probability trades.
- Trading Tools
TradeSanta offers a series of trading tools to enhance your trading experience. The first tool is Martingale. This tool allows you to automatically increase the volume of your orders by a factor of 1.05-2.0.
If you made a loss due to unfavorable market conditions, you could regain the lost value with Martingale.
TradeSanta also allows you to buy coins for commission. If you don’t have the initial margin needed to fulfill an order, the TradeSanta bot buys coins worth $5 to cover the missing margin. You can also turn this option off.
Lastly, TradeSanta allows you to enter trades at a market price. This way, you can leverage scalping strategies to generate quick profits from short market fluctuations.
- Extra Orders
If your initial trade didn’t go well, you could use the functionality of the extra order to place orders in the opposite direction to make a profit. TradeSanta bot places an order in the opposite direction at the current price, allowing you to earn a small profit and neutralize your loss.
With all these features, TradeSanta seems to be a great platform. It’s also beginner-friendly and easy to use. If you have never worked with a trading bot before, you can get started with TradeSanta.
Pricing & Subscription Structure Comparison
Both TradeSanta and Cryphopper are cloud-based platforms and offer subscription-based pricing. Let’s look at the pricing structure of the two platforms.
Cryptohopper has four plans:
- Pioneer: The Pioneer plan supports up to 20 positions, portfolio management, manual trading, and availability on all exchanges. This plan is available for free.
- Explorer: The Explorer plan has everything in the Pioneer plan, along with support for up to 80 positions, 2 triggers, technical analysis with 10 min charts, and 1 simulated trading bot. It’s priced at $19/month.
- Adventurer: The Adventurer plan has everything included in the Explorer plan, along with support for up to 200 positions, 50 coins, 5 triggers, 5-minute charts, and exchange arbitrage. It’s priced at $49 per month.
- Hero: The Hero plan has everything included in the Adventurer plan, along with support for up to 500 positions, 75 coins, 10 triggers, 2-minute charts, all coins for signals, AI, and market-making. It’s priced at $99 per month.
Cryptophopper offers an attractive discount on plans when you subscribe for a year. The Explorer, Adventurer, and Hero plans are available for $16.58, $41.58, and $83.25 when subscribed annually.
Verdict: Cryptohopper is the winner, as it has a free plan with excellent features.
TradeSanta has three plans:
- Basic: The Basic plan allows you to use up to 49 bots, along with all strategies and an unlimited number of pairs. It’s priced at $14 per month when purchased annually.
- Advanced: The Advanced plan includes everything in the Basic plan, along with support for up to 99 bots, trailing take profit, and TradingView signals for Binance, Coinbase Pro, HitBTC, and Huobi.
- Maximum: The Maximum plan has everything included in the Advanced plan, along with the support of an unlimited number of bots, custom TradingView signals, and Binance Futures.
Customer Support & Product Security
Both TradeSanta and Cryptohopper do a great job at product security. The platforms use APIs to connect exchanges and don’t store any funds. Hence, you don’t have to worry about security when using TradeSanta or Cryptohopper.
Coming to customer support, TradeSanta provides support by email and Telegram. You can also connect with the TradeSanta team on Twitter and Facebook.
Cryptohopper offers support by live chat and email. You can access the live chat terminal from the website and contact a live agent. If you want to send the team an email, head to Cryptohopper’s contact us page to find the support email address.
Verdict: Cryptohopper is the winner, as it offers live chat support.
TradeSanta and Cryptohopper are both excellent crypto-bot trading platforms. However, there are certain differences you should keep in mind.
TradeSanta is an amazing tool for beginners. If you are new to crypto bot trading, TradeSanta’s intuitive interface will help you. However, TradeSanta has limited features.
Cryptohopper is a robust platform with significantly more features than TradeSanta. It enables arbitrage trading, mirror trading, strategy designing, and backtesting, and much more. It also has a free plan.
So, if you are looking for a robust and feature-rich automated trading solution, Cryptohopper will be the right choice.