HodlBot Review: Pros, Cons, Recommendations

HodlBot provides customizable crypto bots for efficient trading and profitable returns. You can use the bots to form custom portfolios, index the market, and balance your portfolio automatically. Additionally, the service offers institutional-grade portfolio management software for faster portfolio growth.

HodlBot overview

HodlBot promises the automatic creation of diversified crypto portfolios. The service has created a proprietary crypto index fund. It has a trading volume of over 50 million USD and more than 10000 users. Over 400,000 transactions have been completed successfully, and more than 20,000 custom portfolios have been made by the platform.

Automated trading at HodlBot: How does it work?

As per vendor, the unique advantage of the system is it helps to manage your crypto portfolio without directly connecting to the exchange.  Instead, users manage their assets via the HodlBot platform. The service provides trade automation and faster execution with the exchange API keys. 

HodlBot bot features

The key features of this crypto platform are

• Automatic rebalancing of your crypto assets is easy with the tools provided by the service
• It helps to diversify your portfolio, reduce risk, and boost your profits
• Advanced Market Metrics are present to form dynamic portfolios. You can choose any asset and a weighting strategy to assess past performance
• You can make a crypto index comprising the top N coins
• Customization of rebalancing frequency, coin blacklisting, and liquidation can be done anytime

HodlBot trading strategy: Passive investing, active trading, and portfolio rebalancing

The platform provides HODL indices that help to track crypto market performance. With active trading, you can choose from the Fixed, Market Cap, and Square Root Market cap strategy and backtest it before you execute it. With the rebalancing approach, you can control your assets under volatile market conditions.

Steps to follow to trade with HodlBot

Here are the steps you need to complete to start trading with the bot:

1. Visit the official site and register using your email and password
2. On logging in to the site, connect it with a supported exchange you have an account
3. Choose from the existing strategies or make your own customized portfolio using the advanced metrics tools
4. The bot tracks your portfolio and keeps it flourishing by executing automatic rebalancing of your assets

HodlBot fees & account minimum requirements

A tiered pricing method is present for using this service. Depending on the size of your portfolio the price differs. For accounts that value less than $500, the cost is $3 per month and the cost is $6 per month for accounts of value ranging from $500 to $1,000. For accounts more than $1000 in value, the cost is $14 per month. A free trial is present for 7 days. When compared to the market average, we find the pricing is affordable.

Exchanges compatibility

The main exchanges the platform supports are

• Kraken
• KuCoin
• Binance
• Bittrex

Coins supported

All major crypto coins are supported by the vendor, including Bitcoin, Ethereum, Ripple, Stellar, Litecoin, Cardano, Monero, and more.

HodlBot performance 

The vendor does not provide info on the performance of the bot. We could not assess the performance due to the lack of a verified track record.

How to withdraw your funds with HodlBot?

Trade-only permission is provided for the bots, and they cannot handle withdrawals taken care of by the exchange where you trade.

Is it a costly crypto trading tool?

When compared to the price of competitor systems in the market, we find the pricing is not very high. 

HodlBot security and safety

As per the vendor info, user data is encrypted using HMAC SHA-256 encryption, and this does not entail the withdrawal of funds.

HodlBot regulation and legitimacy

We could not find info on the regulation and legitimacy of the service as the vendor does not provide the relevant details.

HodlBot team members

Anthony Xie is the founder of the company as per the info presented on the Blog section of the official site. According to the Twitter profile, the company was founded in 2018 and is based in Waterloo, Ontario. 

Is HodlBot customer support good?

For support, an FAQ section, Wiki, and links to Telegram and Twitter are present.

User experience

A friendly user interface is present with easy-to-access sections such as registration, login, support, and blog.

Is choosing HodlBot the right choice for you?

Automatic rebalancing of portfolio, a fully automated bot, crypto indices to boost returns and minimize losses, and customization are benefits of the platform. However, the lack of a verified track record and absence of regulation are downsides to consider.