This is a great example of how the tone of an essay can change from one paragraph to the next. It starts out in a fairly dry academic style, but then gets more personal.
Crypto Hopper The Ultimate Crypto Bot is a blog about a crypto bot that finds the best arbitrage opportunities across exchanges. It’s written in a very technical way, and uses jargon that might not be familiar to everyone, but it still reads pretty easily.
Only when you start reading the next paragraph does it become clear that this is the author’s own story:
I developed Crypto Hopper in October 2016 with my friend and colleague Steti Gikas, who was then working at Quantopian. At first we built it as a side project, but after we launched our thesis work on price prediction, it became part of our main research focus.
We’ve since received numerous press mentions (including being featured on CNBC), been invited to speak at conferences, and published several academic papers on price prediction with it.
Crypto Hopper is a crypto bot that we developed many years ago and have used ever since. It’s a trading algorithm that finds and executes trades across various exchanges simultaneously. You can set it up to trade on multiple pairs at once and it will do the necessary arbitrage between the different exchanges for you.
The crypto markets are hugely variable and can quickly be overwhelmed by competition. This can result in some really nice profits, but also means you can end up losing money if you are not careful.
While Crypto Hopper was built with Bitcoin in mind, it works well with Altcoins as well.
I’ve written an article on how to use Crypto Hopper , which explains how to set it up, how to monitor it’s performance, what settings to use etc.
A crypto currency bot is a program that automatically trades coins in and out of an exchange to maximize profit. The bot uses common sense, logic and statistics to predict when coins will rise in value or fall. In popular language, the bot buys low and sells high.
Crypto hopper is a new type of crypto currency bot which looks for opportunities in the market by trading different coins at various exchanges to find the best possible price. The idea is to find coin pairs which are undervalued on one exchange and overvalued on another exchange and see if there are arbitrage opportunities by taking advantage of the difference between the two prices.
The cryptocurrency market is currently dominated by bots that do similar things but not all of them are 100% accurate. Crypto Hopper calculates bid/ask spreads, order book depth, volume levels and price trends, then checks a variety of indicators from coinmarketcap.com to determine if there are any arbitrage opportunities. Cryptohopper automatically finds arbitrage opportunities looking for pairs with similar rankings as defined by coinmarketcap.com, however this does not mean that all pairs available in the market have similar rankings due to some coins being slow to update their data such as Bitcoin Cash and Bitcoin SV which do not appear on Coinmarketcap.com
Or a crypto bot that does simple arbitrage, like buying a cheaper coin on one exchange and selling it on another.
Is it just me, or does this sound a lot like the “cryto hopper” that got so much media attention some years ago?
The cryto hopper was a bot that used the public blockchain to find the best price to buy and sell coins. It was created by a man named Mark called Mark Karpeles (who was later arrested for fraud). The idea was that he could then buy and sell the same coins across different exchanges, earning him profits. This is how he made most of his money when MtGox went bankrupt in 2014 (the cryto-hopper worked on MtGox and also other exchanges).
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Crypto bots can be used for many things besides arbitrage, of course. They can be used to find the best available price on an exchange, or to identify undervalued or overvalued assets. And in general, they are useful as a kind of super-statistician that finds a lot of interesting patterns in the data.
But arbitrage is the simplest use of crypto bots. For arbitrage it suffices to have the ability to buy and sell on different exchanges at roughly similar prices. So if you have a bot that buys and sells at slightly different prices between two exchanges, it is possible to make a profit by finding opportunities to buy at one price and sell at another.
It’s not easy to do it reliably enough for money but trivial for fun: all you need is a bot that buys and sells back and forth at about the same price on some number of exchanges. The more exchanges you check, the faster you can find opportunities to make money.
In practice crypto bots are less reliable than they seem: they often fail because they don’t always get updated with real-time prices, or because they’re too slow or because they’re not even doing real arbitrage but just buying one currency and selling another using the same strategy.
The crypto bot is a computer program that tracks the price of cryptocurrencies on multiple exchanges and then automatically executes trades using an algorithm to maximize profits.
In 2013, an individual hacker published source code for the bot on GitHub. This exposed the bot to scrutiny from security researchers and other hackers. The hacker soon deleted the code, but not before it was copied.
The crypto bot uses a simple trading strategy: buy low on one exchange, sell high on another, and wait for arbitrage opportunities to appear.
The goal of the bot is to find opportunities without incurring significant risk. A large portion of the time, this means buying at a low price in one exchange and selling at a high price in another exchange. The other times, it means entering two orders at once – one buy order and one sell order – in order to take advantage of arbitrage opportunities when they appear.
Crypto arbitrage is a way of trading cryptocurrencies that exploit price differences among exchanges.