HodlBot Review 2024 – Is It a Scam?

HodlBot Review -  Is This a Safe Way to Manage Cryptocurrency?

Does HodlBot work?

Can It be trusted with your precious crypto?

Cryptocurrency trades happen all day and night as the markets never close, but traders aren’t keen on sitting at their computers 24 hours a day, 7 days a week.

Besides that, digital assets are highly volatile, fluctuating rapidly and randomly hourly, daily, and/or weekly.

This means that there is no way to know the perfect time to buy and sell will occur, and you do have to sleep sometimes.

In conventional markets, traders use automated systems to buy and sell their assets based on market trends.

Therefore, it makes even greater sense for cryptocurrency trading to have automated bots for their trades.

One of the main reasons traders like trading bots is that this technology provides them with a way to trade without being at their computers all day and night. They can enjoy a better quality of life using it. 

While most cryptocurrency trading bots have been accessible for over about four years, only in the last couple of years has this technology become popular, amongst both seasoned and novice traders.

One of the most popular features used by traders is the portfolio management function.

This feature is classified as an automated algorithm designed to maintain the percentages of cryptocurrencies within their portfolios all the time. 

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HodlBot Review 2024

Being able to create a customized setup with preferred percentages is a good way for traders to diversify and maintain their portfolios as they desire.

HodlBot happens to be one of these bots.

We will review the HodlBot trading bot for your consideration.

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How Long Has HodlBot Been In Business?

HodlBot Metrics

Like many of its counterparts, HodlBot was rolled out in 2018. It’s a trading bot and portfolio management system that allows you to automate many functions for trading.

One way this works is that it indexes the crypto market, which helps you maintain your portfolios based on your own preferences.

Simply put, this bot will buy and sell cryptocurrency according to your preferences that allow you to maintain your chosen percentages for all your cryptocurrencies. You can set the platform to rely on the market conditions or you can choose your own presets. 

This function is easy to use by novice and experienced traders and cryptocurrency holders to ensure that they are maintaining their preferred percentages across their assets at any given time no matter how active they are in trading or which cryptocurrencies are gaining in the market. 

Portfolio management is a function that sets HodlBot apart from its counterparts. 

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What Kind of Reputation Has HodlBot Built?

Seeing as HodlBot launched in 2018, it’s had a little less time to build its reputation compared to its competitors that were launched a year or so earlier. However, it’s been around long enough to have established a reputation among avid traders.

Another thing that affects its ability to build its reputation as quickly as its competitors is the fact that it focuses on the portfolio management function, which doesn’t seem to be as popular as the functions and features of other trading bots within the same timeline.

However, HodlBot has made a name for itself in some arenas of the crypto community with traders looking to diversify their portfolios based on the market conditions.

What Exchanges are Supported By HodlBot?

HodlBot Exchanges

According to the website, HodlBot currently supports four exchanges including, Bittrex, Binance, Kraken, and KuCoin.

While these are popular exchanges, this is a limitation that prevents its growth since traders use different exchanges that would not be supported.

What Does It Cost to Use HodlBot?

Putting aside the limitations in conventional features and services provided by HodlBot, its pricing structure is not very high. It may even be one of the most affordable in cryptocurrency trading bots. 

There are three subscription plans for accounts ranging from under $500 to over $1,000. 

  • Under $500 – $3.00 per month
  • Between $500 and $1,000 – $6.00 per month
  • Over $1,000 – $14.00 per month.

This platform offers a 7-day free trial for traders who have never used this bot before.

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Performance Metrics

HodlBot Metrics

Ease of Use: With its clean and user-friendly interface, HodlBot is considered an easy-to-use bot. Connecting to its exchanges is a concise process via APIs. 

This is a web-based interface focused on portfolio management. The most prominent features are located on the dashboard, so it’s easier to navigate around the platform.

Not only is the interface easy to use, but the functions are easy to set up and execute. It’s helpful to novice traders who want to maintain their portfolio.

That said, seasoned traders find it restricted, or limited for their needs since they prefer more feature-rich trading bots. 

Settings: There is a limited amount of preset subsets focused on balance management which are based on the highest performing cryptocurrencies in the market. These are referred to as:

  • HODL10
  • HODL20
  • HODL30
  • Kraken10

The strategies express a specific number of the top popular cryptocurrencies.

For example, HODL10 represents the top 10 cryptocurrencies in the market, so if you choose this strategy, your digital assets will be bought and sold according to percentage provision with each coin falling into the top 10.

Kraken10 represents the top 10 cryptocurrencies on the exchange. 

Day traders and cryptocurrency holders may also choose their own diversification strategies and percentages for each cryptocurrency.

You can also adjust the automatic rebalancing according to settings in custom indexes and presets. 

Security: There is nothing unusual about HodlBot’s security measures. This service follows the industry standards at some level. 

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It does have an HTTPS secure server and backend encryption for protecting API keys. As a matter of fact, HodlBot cautions users not to withdraw via their API keys.

This is a protective measure that is effective in case of hacking. Therefore, funds of users are never withdrawn from their crypto accounts. 

One thing that would make HodlBot more appealing and secure is two-factor authentication, which it currently does not provide.

This added layer of security and protection is a must-have in today’s atmosphere. This is a deal-breaker for us.

Customer Support: The website offers a detailed documentation page that helps new traders get used to the platform and its features.

This documentation is also good for answering questions that might be on the minds of traders looking for a trading platform like this one. This way, there is no waiting for a response to queries.

This bot has a presence on the Telegram and Twitter communities, so you can reach out on these networks if you’re a client of this service. Social media may be the fastest way to get answers.  Also, you can use the support email. 

Profitability: HodlBot makes no guarantees or promises about profitability from using their service, which is the industry gold standard.

So, if you come across a trading bot that does promise any percentage of profitability, steer clear of that. 

If you want to learn more about this service, you can give it a try via the 7-day trial to help you understand how it works and if it’s beneficial and profitable for you. 

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Review Conclusion

HodlBot likely has an efficient and effective portfolio management system in place, but it cannot keep up with its competitors like Bitsgap and Quadency, which are both feature-rich, easy to use, and provides top-level safety and security for cryptocurrency trading. 

I recommend you avoid HodlBot for these reasons.

We always recommend that you do your due diligence and research cryptocurrency trading bots on your own before choosing one.

The information provided in this HodlBot review should be helpful when it comes to knowing what to look out for in crypto trading bots.

For instance, avoid those that make profitability claims and those that don’t at least follow industry standards for security measures.

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Avatar of Jonathon Spire
My diverse background started with my computer science degree, and later progressed to building laptops and accessories.And now, for the last 8 years, I have been a social media marketing specialist and business growth consultant.In my spare time I dabble in crypto and various types of automation.
Jonathon Spire

Jonathon Spire

Tech Blogger at Jonathon Spire

My diverse background started with my computer science degree, and later progressed to building laptops and accessories. And now, for the last 7 years, I have been a social media marketing specialist and business growth consultant.

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Jonathon Spire

I blog about a range of tech topics.

For the last 7 years I have been a social media marketing specialist and business growth consultant, so I write about those the most.

Full transparency: I do review a lot of services and I try to do it as objectively as possible; I give honest feedback and only promote services I believe truly work (for which I may or may not receive a commission) – if you are a service owner and you think I have made a mistake then please let me know in the comments section.

– Jon