Paper trading: Experience risk-free crypto trading

Trade crypto without having crypto? Read on to find out how:

Ever talked to a non-trader and asked them if they wanted to invest? The vast majority of them will say something along the lines of “No, I don’t know how” or “No, I don’t think I want to risk losing my money on something I can’t control”.

We aim to change that by introducing Paper trading.

It’s understandable that using a service like Cryptohopper can be quite daunting for new users. Linking your trading bot to your exchange with API Keys and allowing it to trade on your behalf with your hard earned cash can be a particularly scary experience.

It’s just like stepping into a self driving car. Most people know it's safe, but it’s probably not easy to let go of the wheel.

With this in mind, we have released the new Paper trading feature allowing complete unfettered access to the Cryptohopper, and real life exchange data of any exchange of your choice that Cryptohopper has access to.

The only catch is that you will be able to trade with play money. What this means is that your trading bot will be reading real life chart data, and placing pretend buy and sell orders.

How to set up your Paper trading account

Rather than inputting the API keys from your real exchange, which will give your trading bot access to your exchange (if you have one), you just select the paper trading option.

Then, when you finalize the configuration wizard, you’ll have a Cryptohopper which is interacting with the exchange data of your exchange.

The next step is to input a strategy which will tell it when to buy or sell and of course.

This process will be entirely the same when you use the real Cryptohopper. The best course of action is to use Paper trading as a testing ground for any strategy you want to apply. If it does well, you can always just save the template, link your real exchange and then continue your winning strategy on the Paper trading platform.

In order to make fake buys and sells, you’re going to need to import play crypto.

The above tab will allow you to deposit as much crypto as you want. It’s all fake, so you could easily import up to 100k Bitcoin if you want. From then on, your trading bot will be trading just like it would if you had that amount of money.

Please note: Only one paper trading account per exchange please.

Free Cryptohopper, Free Cryptocurrencies, Free trading. Experience and learn about trading before doing it, by trying the platform, in its entirety, with fake money.

Right now, 22 million people own Bitcoin wallets, a further 13 million people trade on Coinbase. Let’s make sure this number keeps growing removing barriers to experimenting and increasing the resources for learning.

Of course, our support staff is more than happy to assist you if anything is unclear. We hope you will have a great time make use of this new feature,

Happy Hopping,

Your Cryptohopper Team