Cryptohopper Releases a Short Selling Feature - Here's How It Works
Amsterdam, Netherlands -- (ReleaseWire) -- 08/15/2018 --In short (no pun intended), short selling is the selling of an asset declining in price with the intent to buy it back at a later date, for a lower price. Although in stock trading this function usually includes borrowing, the Amsterdam based crypto scaleup Cryptohopper has included a very innovative form of short selling into their auto-trading platform.
When you start a short, Cryptohopper tracks that exact positions down, and holds the money that you had reserved for it. It then reuses that same amount of money, to buy back the coin at a lower rate. This is a great tool when you expect a bear market and you want to counter potential losses.
The best part: the entire process can be automated, and is just one of the many features Cryptohopper is launching, which shows that auto trading really is the smartest way to trade cryptocurrencies.
Auto trading essentially allows you to trade cryptocurrencies 24/h a day and respond to market conditions in real time without the need for you to manually follow the charts and price movements or apply your technical analysis manually.
"Shorting and automated trading is a great match," Says Co-founder & CTO Pim Feltkamp, "This feature allows you to trade more strategically in a down market. It has been requested a lot by our users".
Cryptohopper is less than a year old and now has over 55,000 users from around the world.
This is partially due to their user-centered approach; The product development team at Cryptohopper spend a great deal of time noting down feature requests from users and scanning for tools that are often missing in direct exchange trading.
This growth is also due to the fact that Cryptohopper understands that there is a huge market for people who either have an interest in cryptocurrencies but don't necessarily understand them or know how to trade them or professional trade who seek an advanced trading tool for trading cryptocurrencies.
Cryptohopper is the first to incorporate crypto signals. Traders are able to follow this signals and buy them automatically.
"It's important to stir conversation amongst traders." Says Ruud Feltkamp, CEO and Co-founder. " great that there's a system in place to reward influencers for sharing their trading insight while allowing passive users to take advantage of crypto trading opportunities."
To help encourage the spread of trading insight, Cryptohopper is also launching a template marketplace on their platform.
A template is essentially a collection of settings (indicators, coin selections, tools, and thresholds) which together guide a user's automatic trading decisions.
Those who lack trading/technical analysis experience can copy trades from experienced users. Those who have experience can tweak and test auto trading configurations, develop templates and even sell them to other users.
In a recent Cryptohopper competition, "Who Hopped Highest," a winning user managed to pull in 9.75% profit per trade as a result of his specific configuration. Naturally, lots of different users wanted to know his configuration, or at least copy it. A template marketplace makes it possible for a new user to copy the template, and for the influencer to generate extra revenue.
"I'm really glad that we have such a huge contribution to the crypto ecosystem. Our mission is to offer an advanced trading platform packaged in a simple UI" Says Ruud. "This makes the platform accessible to new traders as well as those with lots of experience."
Anyone can now set up a free Cryptohopper account in under 5 minutes, subscribe to over 50 crypto signalers, and trade automatically on their chosen exchange. "In the near future, they will be able to scan through hundreds of successful influencers and copy their strategy as well".
"Big things in the pipeline for Cryptohopper, and more to come!"
For more information visit www.Cryptohopper.com.
Cryptohopper is a young and fast-growing scale-up, based in the Amsterdam that offers a trading platform that works on the cloud, 24-7 and allows users to trade automatically on their favorite exchanges.
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View this press release online at: http://rwire.com/1028749