Paper trading allows you to trade using real-life exchange data with simulated crypto. This way, you can experience the platform without taking any risk.
With every paid subscription, you get the option to create one simulator (or paper trader). This makes it ideal for testing out strategies on your simulator so that you can use successful strategies on your live bot.
When you start your journey with Cryptohopper, you will be asked if you want to create a paper trading bot. We do always recommend to connect your exchange account, so that you get the full Cryptohopper experience.
How to create a new simulator
If you want to create a new simulator, go to Your Hoppers/View all your Hoppers in the top left of your dashboard.
Make sure that you don’t already have a simulator or have enough subscriptions, as you can only have one simulator per subscription. Simulators demand a lot from our servers, hence why we’ve limited it to one per subscription.
Select the exchange and the quote currency you want to use. We’ve made templates to give you a jumpstart with trading. When you’ve selected a template, toggle the “Paper Trading” switch to make it a simulator.
Now click the deposit button and deposit fake funds that correspond with your selected base currency. For example, in the previous GIF, we chose a USDT template, so we deposit USDT.
Your start balance should adjust automatically. Adjust it yourself if you already had funds on this paper exchange account.
Yes, you’ve created a simulator!
Paper Trading Accounts
You receive a paper trading exchange account for every exchange for which you create a simulator. This means that if you make two Binance simulators, you will see the same balance on both simulators. Therefore, a simple solution is that you select a different exchange for a second or third simulator. If you do not want that, you can create a new paper exchange account.
To create a new paper exchange account, go to the baseconfig of your simulator.