HodlBot offers customized crypto trading bots using which you can index the market, make customized portfolios, and automatically rebalance your asset. The platform offers investing on autopilot that leaves you free of the hassles involved in manual tracking and execution of trades. Users also get access to institutional-grade portfolio management software.
Hodlbot provides fully automated bots that can work 24/7 executing the strategy you have chosen on the funds in your exchange account. Some of the key features of the platform are:
With the help of the crypto index provided by the service, you can diversify your portfolio. Diversification lowers the risk and increases your profits.
You can use advanced market metrics such as choosing crypto coins, a weighting strategy and finding the past performance. With advanced metrics, you can create dynamic portfolios and indices.
With the help of automatic rebalancing, you can keep your portfolio on its target allocation despite changes in the market. The rebalancing reduces the risk and improves returns.
Verdict: An advanced bot with efficient crypto management features.
How to start with HodlBot?
To get started with the bot service here are the steps:
- Register with the service by providing your email and password
- Connect it to your exchange using API keys
- Choose a predefined strategy or create one based on the advanced metrics
- The bot takes over the trading keeping track of your portfolio and rebalancing it automatically
A tier-based pricing model is used by the service and is based on the size of your portfolio. For accounts under $500, the cost is $3 per month. For accounts ranging from $500 to $1,000, the cost is $6/month and for accounts with a value of more than $1000, $14 per month is charged. A free trial for the initial 7 days is provided to try the platform for free and check its efficacy and profitability.
Minimum first-time deposit requirement
As per the vendor, there is no account minimum but $200 is recommended to safeguard users from the minimum trading limit and to create properly diversified portfolios.
The service does not handle funds. All crypto assets you hold are safe in the exchange account you have. Any deposits or withdrawals are handled by the exchange only. Hence there is no withdrawal process for this platform.
What about subscription fees and commissions?
Other than the tiered pricing model based on account size, there is no commission fee charged for trading with the bot. However, the exchange will charge a certain percentage of fees for trading.
HodlBot review: user interface
A user-friendly interface is present with easy access to all features and functionalities of the system. Newbie traders will find it easy to register and activate the bots for successful trading.
We found a single review for the service on the Trustpilot site. As per the feedback, the user is not satisfied with the account rebalancing and complains about the poor support.
We could not find details on the company such as its founding year, team member info, location, etc. The vendor fails to provide information on the company which raises doubts about the reliability of the system.
What exchanges does HodlBot support?
Kraken, Bittrex, Kucoin, and Binance are the main exchanges the company supports. You can connect to any of one or multiple exchanges at a time.
Is HodlBot secure?
To keep the API keys safe, the vendor uses backend cryptographic encryption and ensures trade-only API keys are used. For additional security, the vendor recommends disabling API key trading permissions in-between rebalancing periods.
Is it a regulated crypto trading platform?
While the vendor boasts a trading volume of over 50 million and more than 400 thousand transactions there is no info on the regulation of the platform. The vendor does not provide details about the regulation and licenses acquired by the service.