In today’s article: HodlBot review, we will look at the platform and explain its features and advantages.
The cryptocurrency market is very challenging to enter, especially for new traders; even talented traders need to be very mindful of operating their portfolios. A crypto coin can change unexpectedly, causing holders huge losses. But, coins indexes is an excellent solution for that issue.
Hodlbot is where you can connect all your exchange accounts and link them together and apply premade portfolios to them. Also, you can rebalance your portfolios manually or automatically. The platform has a lot to provide, and we will discuss all that during this review.
Table of Contents
- About HodlBot.
- Getting Started with HodlBot.
- HodlBot Alternatives.
HodlBot is a customizable cryptocurrency trading bot that enables users to index the market, create custom portfolios, and automatically rebalance their cryptocurrency portfolios. Think of HodlBot as a software service that plugs into your cryptocurrency exchange account and intelligently executes trades.
Also Read: Best Exchange Platforms.
In the following part, we will share all the features you will get by using HodlBot. Those features really impressed us during our HodlBot review.
HodlBot built the HODL indices for users who want to diversify across the market instead of picking individual coins. Diversification mitigates risk and improves returns. However, studies found that 95% of active traders fail to beat the index.
Select any coins, choose a weighting strategy, and see how it performed in the past. Then, use advanced market metrics to construct dynamic portfolios. You can also create a cryptocurrency index comprised of the top N coins.
When the market shifts, a portfolio will drift away from its target allocation. HodlBot automatically rebalances your portfolio to keep it on track, saving you time. Portfolio rebalances generally lead to risk mitigation and improved returns.
Tailored to Your Needs
HodlBot is highly customizable. Change your rebalancing frequency, blacklist coins you want to avoid trading, liquidate your assets anytime. On top of that, they provide 24/7 customer support.
How much does HodlBot cost?
HoldBot pricing depends on your trading volume; if you have a trading volume below $500, HodlBot will be free, $500 – $1,000 costs $6/mo, and Account Value Over $1,000 costs $14/mo.
Is HodlBot safe to use?
HodlBot only requires API keys with trade access, not withdrawal. Therefore, this means nobody can withdraw funds from your exchange account. Also, HodlBot encrypts all of their users’ data on their end with cryptographically secure hash functions. In addition, they engage in penetration testing and monitor logs to shut down trading in the case of suspicious activity.
What exchanges does HodlBot support?
Currently, HodlBot supports Binance, Kraken, KuCoin, Coinbase, and Bittrex. This might be not very pleasant for some users, but these are the top exchanges. Also, we hope for more exchange support soon.
Getting Started with HodlBot.
in the following part of this Hodlbot review, we will demonstrate the entire process of creating an account, connecting it to your exchange, and automating your trades.
Create an Account.
First, head to HodlBot’s main page, then click on “Sign up” in the top right corner. After that, you can proceed with entering your information.
Verify Your Account.
Now, head to your email and check for a verification link sent by Hodlbot’s team.
Connect Your Exchange Account.
After completing the sign-up process, you can proceed with connecting your exchange to HodlBot. On your dashboard, select the exchange you are going to connect, then enter the API key and API secret.
Choose Your Portfolio.
In order to choose coins index, click on “Portfolios” on the left menu. After that, you will see all the available portfolios for your exchange. Clicking on “Select Portfolio” will apply that portfolio to your exchange.
Also, clicking on the edit icons will expand the portfolio and show you the exact numbers of each coin in that portfolio.
Rebalance Your Portfolio.
HodlBot can automatically rebalance your portfolio to keep it on track. Portfolio rebalances are generally lead to risk mitigation and can improve your returns.
In order to rebalance your portfolio, click on “Utilities” on the left menu; then, you can manually rebalance your portfolio or set a rebalancing period.
In brief words, HodlBot is a great tool to get access to coin indexes that you can apply to your portfolio. Unlike most automated trading platforms, HodlBot is created to give you options for your portfolio and allow rebalancing in order to minimize your losses. Learn more in this pros and cons list.
- Easy to use;
- can adjust rebalaning period.
- No trading bots.
We have been listing the best automated trading platforms, including alternatives for HodlBot. There are many alternatives that provide the same experience as HodlBot. Each product has a detailed review which will assist you in getting a comprehensive idea of the platform.
Finally, we would love to know your thoughts on this HodlBot review. So, make sure to share your opinions with us in the comments section below.