HodlBot is a system that lets you trade crypto coins on autopilot. According to the developer, it allows you to grow your portfolio like the most proficient investors. In this review, we are going to analyze the features of this platform, while also looking at the pricing, security, legitimacy, and ease of usage.
What is HodlBot?
It is an automated crypto trading platform with more than 10k users. To date, it has created over 20k custom portfolios and has a massive trading volume of over 50 million dollars.
The most important features of the system are as follows:
Thanks to this feature, you can create portfolios with the help of advanced market metrics. You can select an asset, select a strategy, and check its historical performance. It is also possible to build a crypto index composed of the top assets.
In the event of a market shift, the portfolio might deviate from its target allocation. HodlBot corrects this by rebalancing your portfolio. Thus, your portfolio is kept on track, thus mitigating risk and improving profits.
This system lets you modify the rebalancing frequency and blacklist assets you don’t wish to trade. Also, you can liquidate your holdings whenever needed.
Unfortunately, there is zero information on the parent company behind this system. We don’t know where it is registered or when it was founded. The vendor has not revealed the identities of the team members either.
How does it work?
This bot connects to your exchange accounting using encrypted API keys. After that, you can start trading with a readymade strategy or build a customized portfolio. Since this is a 100% automated system, it performs all tasks on its own and there is no need for manual intervention.
How to sign up with HodlBot?
First, you need to visit the official website and click on the signup button located in the top-right corner. This will take you to the Signup page where you can register using your Facebook or Google account. Alternatively, you can enter your email and choose a password.
Does HoldBot offer a demo account?
Unfortunately, there is no demo account available for this system, so you cannot test the performance of the strategy using virtual money.
Profitability of HoldBot
There is no guarantee of profit with an automated trading system. It depends largely on the chosen strategy and the market condition.
Payments, deposits, and withdrawals
This platform cannot conduct deposits and withdrawals on your behalf.
Currently, this platform supports Binance, Kraken, KuCoin, and Bittrex.
What about customer support?
There is no contact information available for the support team. If you require assistance, you can join consult the Wiki or join the Telegram group.
Benefits of using HodlBot
The benefits are as follows:
- Highly customizable settings
- Automatic portfolio rebalancing
- Cryptocurrency indices available
Drawbacks of using HodlBot
Here are the disadvantages:
- Lack of vendor transparency
- No demo trading
- Only four supported exchanges
- No live chat or email support
For a portfolio under $500, you need to pay $3/month. If your account value is $500-$1000, the fee is $6/month and for an account exceeding $1000, it is $14/month. There is a free trial period of 7 days.
What are security measures?
The API keys are cryptographically encrypted for safety. The user has full control over the keys.
Is HodlBot legit?
Yes, this is a legit platform that has been covered by Coindesk, Forbes, Bloomberg, Investopedia, News BTC, etc.
Ease of use
There are no complicated functionalities for this bot. The user interface is quite beginner-friendly.
Is HodlBot a good choice for automated trades?
This platform does not support too many exchanges and it lacks a demo trading facility. Also, there is no quick way to access customer support.
What are the possible risks of using the crypto bot?
First of all, this system is sold by a company we have very little information on. There aren’t many reviews on third-party websites, and this indicates a lack of reputation. Since there is no paper trading facility, there is no way to test the effectiveness of your strategy before launching it on the live market.
Review verdict: affordable bot without demo trading and customer support
HodlBot is a system that has a great set of features and is quite affordable compared to other bots. Nevertheless, we don’t have enough information on the vendor. The fact that it supports only a handful of exchanges might be an inconvenience for some users. Last but not the least, there is contact information for the support team.