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Cryptohopper's API and Cryptwire
#cryptohopper#trading bot#Cryptohopper app+2 more tags

Cryptohopper's API and Cryptwire

Cryptohopper has a big and loving community who come up with many new feature requests and ideas for the Cryptohopper platform. By developing apps for Cryptohopper you can tap immediately into this community and get your app adopted quickly.

What were your first thoughts when you noticed Cryptohopper offers an API?

Over the past few years we've been involved in developing cryptocurrencies themselves as well as tools for the ecosystem, especially for providing network and mining stats to people that previously have very limited exposure to cryptocurrencies.

With that experience we saw an opportunity to use what we've learned and apply it to our trading on Cryptohopper.

Naturally we were excited to see that the Cryptohopper API offers all the functionality that is provided on the website and via the mobile app. This allows any developer to extend Cryptohopper however they want.

What was your motivation to use Cryptohopper’s API and what did you develop? (App in the app store, asset managing, as a pro user with your features, etc.)

Our initial idea was to capture your trading bot's current position in the market every day at the same time. That provides us with a way to accurately calculate your daily growth and also do some form of prediction on where you would be in a week.

At the time we were using spreadsheets to do this, but if you forget to capture at the same time, the numbers aren't as accurate.

Once we got access to the Cryptohopper API the ideas started flowing, we had questions like:

  • How is my coin list performing?

  • Did I remove coins from my list that actually perform very well for my strategy?

  • How did a specific coin perform over the time I had a position?

  • What is the actual profit I made in my local currency?

So we got to work answering all these questions and provide it as a service to all Cryptohopper users through the Cryptohopper App Store.

1. Our unique trade history view

We used the Cryptohopper API as well as the API webhooks to capture all your trades and keep receiving new trades as they happen. From the information we gather we create a TradingView chart for each trade and position that shows when you bought and sold.

This includes your DCA ( dollar cost averaging) buys. In our opinion, this chart shows just how powerful DCA can be when used correctly.

chart-1
chart-1

2. Trading bot specific candle chart

From our trade history view we expanded into doing the same thing, but for your total Hopper balance.

A candle chart showing your trading bot's performance from 15 min to 1 week candles.

This provides unique insight into how you are performing - you can even apply indicators to your trading bot's chart and make decisions using the full picture.

chart-2
chart-2

3. 24+ charts and insights

We use the Cryptohopper API to capture your positions, trades, assets, available funds and even extract information from your Bot output logs. From there we create more than 24 charts and insights so that you can make better decisions.

We combine your Cryptohopper information with other sources as well. An example of this is the additional information we display about a specific coin, there is no need to search for information about a project, it's all built in already.

chart-3
chart-3

Do you have other plans with Cryptohopper’s API?

Absolutely! We are currently previewing a feature we call 'Hopper actions'. This will allow you to take actions on your trading bot based on various internal and external factors.

In our current preview you can set a trailing stop loss on your trading bot's total balance and receive a notification when it is triggered.

You'll soon be able to execute actions like disable DCA, reduce positions, change specific positions' trailing stop loss and even panic sell. We believe using a Cryptohopper trading bot is an amazing.

way to stop emotions from interfering with your trades and this feature extends that belief - it's not about how much you make, but how much you keep.

How easy was it to develop based on Cryptohopper's API?

Our team found the Cryptohopper API very easy to work with. If you've ever worked with an OAUTH-based API (like Twitter, etc), you'll find that this aligns with the industry standard for API's.

Further, we found the documentation easy to understand and the naming of all the resources to be straightforward.

It's great to work with an API that is structured this way as it takes a lot of the guessing out of the equation so that you can get back to doing what you love and that's building your product.

We open-sourced our Go library for working with Cryptohopper's API and it is available at https://github.com/cryptwire/gogocryptohopper. We'll continue to add to this library as we expand our offering.

According to you, what other things can developers develop with Cryptohopper’s API for personal use or monetizing ideas?

Since the Cryptohopper API allows you to do everything you can on Cryptohopper website and mobile app, the possibilities are endless. Some ideas that come to mind are:

a) Automatic staking

This would allow you to automatically start staking coins and tokens (that support it) whenever a position is down by a certain amount. During the mid cycle dip we saw many members within the community stake some of their positions for a few months while waiting for it to recover.

What's great this about doing it while connected to Cryptohopper is you'll be able to track the position and determine when to move it out of staking.

b) Scheduled buys

For traders with a multi-year plan, you could allow them to schedule weekly or monthly buys of certain coins over a long period of time. This would essentially be a scheduled DCA regardless of activity on the coin. A solid accumulation strategy in our opinion.

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Disclaimer: Cryptohopper is not a regulated entity. Cryptocurrency bot trading involves substantial risks, and past performance is not indicative of future results. The profits shown in product screenshots are for illustrative purposes and may be exaggerated. Only engage in bot trading if you possess sufficient knowledge or seek guidance from a qualified financial advisor. Under no circumstances shall Cryptohopper accept any liability to any person or entity for (a) any loss or damage, in whole or in part, caused by, arising out of, or in connection with transactions involving our software or (b) any direct, indirect, special, consequential, or incidental damages. Please note that the content available on the Cryptohopper social trading platform is generated by members of the Cryptohopper community and does not constitute advice or recommendations from Cryptohopper or on its behalf. Profits shown on the Markteplace are not indicative of future results. By using Cryptohopper's services, you acknowledge and accept the inherent risks involved in cryptocurrency trading and agree to hold Cryptohopper harmless from any liabilities or losses incurred. It is essential to review and understand our Terms of Service and Risk Disclosure Policy before using our software or engaging in any trading activities. Please consult legal and financial professionals for personalized advice based on your specific circumstances.

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