HodlBot Crypto Bot Review

Apr 18, 2022 08:22 AM ET
HodlBot Crypto Bot Review

HodlBot enables efficient investment with its autopilot process. It is a customizable crypto bot that can take care of a wide variety of tasks like market indexing, creation of custom portfolios, and automatic rebalancing of your crypto portfolio. The platform boasts more than 50 million in trading volume and over 400,000 transactions. Its customer count is over 10,000 and the service has created more than 20,000 custom portfolios.

What is HodlBot?

As an automated system, this crypto bot allows the successful growth of your portfolio similar to how advanced global investors do. The software makes institutional portfolio management accessible to all. 

How does HodlBot work?

This platform provides a simplified trading setup that enables you to manage your assets without interfacing with your exchange directly. You can create and control your assets via the software instead of making individual transactions. The bot uses your exchange API to execute the trades. You can be assured of the safety of your funds as the software encrypts user data and does not have withdrawal permission.

Who is the founder of HodlBot?

Anthony Xie is the founder of this crypto bot. He specializes in big data. He has developed this software for the automatic and easy creation of diversified crypto portfolios. There is no location address or founding year info. However, the website domain shows 2019 registration.

HodlBot features

Important aspects of this automated crypto software are:

  • The bot enables diversification across the whole market with a single click using the HODL indices.

  • You can make dynamic portfolios using advanced market metrics.

  • Choose any coin, weighting approach, and see the past performance.

  • You can create a crypto index consisting of top N coins.

  • The chief exchanges it supports include Binance, Kraken, KuCoin, and Bittrex.

Deposit requirements

No, this is a software tool mainly and not an exchange or a fund. You deposit the funds directly on the exchange you use.

HodlBot fees

Tiered pricing is present for this software to make it affordable for users with small and big account sizes.  For accounts that are under $500, the service costs $3 per month and for values ranging from $500 to $1000, the cost is $6 per month. For values more than $1000, the cost is $14 per month.

For account value that is under $500, the charges are low but account holders can access all the features of the bot. When compared to other similar systems, the pricing looks affordable. A free trial run for 7 days is present for the system.

Withdrawal process with HodlBot

There is no withdrawal feature for this bot as it does not handle deposits or withdrawals. 

How to start with HodlBot?

Using this service is easy. Here are the steps you need to follow:

  1. Connect the bot to your exchange

  2. Make a strategy or choose from the existing list. 

  3. The bot keeps track of your portfolio by automatically carrying out rebalancing of your portfolio

HodlBot pricing

Other than the monthly subscription charges, the service does not charge any other fees.

How beginner friendly is HodlBot?

The free tier, user-friendly interface, simple starting process, and a community that enables sharing of strategies are points that denote this is a beginner-friendly system.

Is HodlBot safe and legit?

The company cryptographically encrypts your API keys to keep them safe. Additionally, you get to control your API keys via your exchange account and can delete the keys anytime. Further, the keys are for a trade-only purpose and do not allow withdrawals.

Customer service

User review for Hodlbot on the Trustpilot site.

We found a review for this service on the Trustpilot site with a rating of 3.2/5. As per the review, the user complains that the bot does not rebalance and the support is poor. 

Who is HodlBot best for?

New users who are in search of dynamic portfolio management will find this service desirable. The affordable subscription packages, easy installation and use, and security features are key points that make it ideal for newbies.

HodlBot review: pros and cons

Pros

Cons

  • Fully automated software
  • No performance proof
  • Efficient features
  • Very few supported exchanges
  • Affordable fee
 

HodlBot summary

HodlBot offers portfolio diversification in a seamless manner across the entire market. It eliminates the elaborate process of choosing individual coins, lowers risk, and boosts returns. Further, the affordable subscription plans, auto rebalancing, good security, and customization of your asset portfolio are other advantages we found in this bot that make it an ideal product for crypto investors looking for an increased ROI. 

  • Features –  5/10
  • Ease of use –  6/10
  • Pricing –  6/10
  • Reputation –  5/10
  • Customer support – 5/10
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