HodlBot Review – Is This Crypto Trading Bot Worth Using?

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By Austin DeNoce

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HodlBot Review

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HodlBot Review

  • Trading
  • Customizable Portfolios
  • Portfolio Tools
  • Customer Support
4.3

Summary

HadlBot is a cryptocurrency trading bot that allows users to customize their portfolios. Along with customizable portfolios, HadlBot also includes the ability to create, backtest, and automatically rebalance portfolios as well as utilities such as threshold rebalancing and coin blacklisting. Users also get access to resources such as the HadlBot blog and help center. Learn more about this crypto trading bot by reading our complete HadlBot review.

Pros

  • Multiple customizable portfolios
  • Automatic rebalancing
  • Amazing learning resources

Cons

  • No trading interface
  • Expensive subscription

About HodlBot

HodlBot is a customizable cryptocurrency trading bot that enables users to create, backtest, and automatically rebalance custom portfolios.

HodlBot is a subscription service with pricing determined by the size of your account. $0 – $500 is $3 per month, $500 – $1000 is $6 per month, and $1,000+ is $14 per month. And if you decide to subscribe to a paid account, you can even make your payments in crypto.

If you want to learn all about HodlBot’s services and whether or not they’re right for you, stick around for this in-depth HodlBot review.

HodlBot Account Overview

HodlBot Crypto Trading Bots

While HodlBot doesn’t currently have its own exchange or trading interface, the platform supports crypto trading through Binance, Kraken, Coinbase, KuCoin, and Bittrex via an exchange account API.

HodlBot Integrations

Users with accounts on any of the above exchanges can manage their portfolios directly through HodlBot’s cryptocurrency trading bots, including trades for any rebalancing. All you have to do is sign into your respective exchange account to link the API keys, and the rest can be handled all through HodlBot.

For those unfamiliar with how a trading bot works, a trader will outline certain parameters related to price or various technical indicators and trading strategies. 

Though HodlBot doesn’t offer too many custom trading strategies, it still affords users a great deal of flexibility through customizable portfolio weightings and rebalancing.

With its crypto trading bots, HodlBot can manage multiple portfolios entirely through automated trading exactly to your liking. You simply set the parameters for any of your cryptocurrency portfolios, and the crypto bots will take it from there by buying, selling, and rebalancing how you want and when you want.

As a side note, given their automated nature, trading bots are not the same as regular trading. It would be nice to see a basic trading panel added to the platform to avoid the need for one-off visits to one’s respective exchange, but you won’t be able to accomplish that with a trading bot.

That said, HodlBot is aimed at portfolio management, not trading, and it helps with the former quite well.

HodlBot Custom Portfolios

With HodlBot’s customizable portfolios, you can select all the crypto assets you’d like to hold and choose a weighting strategy the portfolio will automatically rebalance to as allocations drift with market activity.

HodlBot Portfolios Customization

The frequency of the rebalancing is entirely customizable, you can liquidate your assets at any time, and you even have the ability to blacklist certain crypto assets you want to avoid, allowing users to truly construct dynamic portfolios.

HodlBot Utilities

You also have the option to backtest any basket of assets and weighting strategy to see how that portfolio would have performed in the past.

What’s more, HodlBot has several pre-made indices, such as a top 10 market cap-weighted index or an entire crypto market index investors can look to for a quick and easy indexing strategy rather than create custom portfolios with specific assets.

HodlBot Custom Portfolio Options

HodlBot even enables users to meet somewhere in the middle by creating their own cryptocurrency index comprising any number of the top coins and weighting strategy.

And if you can’t decide on one specific strategy, you can create multiple customized portfolios to go back and forth between all of your own diversification strategies.

HodlBot Custom Portfolio

HodlBot Utilities

The HodlBot Utilities tab is where you can find and tweak specific portfolio parameters, such as the frequency of rebalancing, threshold rebalancing, and coin blacklisting.

Rebalancing periods are denominated in days and are entirely customizable, and the threshold rebalancing allows you to automatically rebalance whenever an asset in your portfolio exceeds a specific percentage allocation. 

Both rebalancing features grant investors a great deal of flexibility and should be valuable tools for automatically managing risk, which is always a great feature to have but rarely found among exchanges and brokers.

The coin blacklisting is also a handy feature given the nature of crypto, and the prevalence of rug pulls in the space. If there is any coin or token you don’t trust or just don’t want to invest in, regardless if it finds its way to the top ten or thirty list, you can add it to your blacklist, so none of your portfolios include it.

The last feature in the Utilities tab is the Cashout function, where you can quickly convert any percentage of your existing portfolio into a single asset. This can be used to consolidate all your assets into any single asset, but its primary intention was to easily facilitate a transition into stablecoins during bear markets or extreme volatility.

Hodlbot Resources

While many platforms have blogs these days, most of them are hardly worth mentioning, but HodlBot’s “HodlBlog” is exceptionally well developed.

HodlBot Resources (Hodlblog)

Aside from a sleek aesthetic, the HodlBlog has regular articles on market activity, crypto trading tips, advanced market metrics, and just about everything else that has to do with crypto. Each article is also broken down into a wide range of helpful categories you can quickly scroll through at the top of the blog. 

One of the categories the HodlBlog has is filled with articles all about the platform. Here you’ll find in-depth and organized walkthroughs for all of HodlBot’s services, so if you’re struggling to get started, we highly recommend checking it out.

HodlBot Resources - Blog Articles

HodlBot also has a “Wiki” tab that takes you to a help center where you can find even more information on how the platform works, how to set up your account, and plenty more.

HodlBot Resources (Wiki)

Conclusion: Hodlbot Review

After carefully testing the platform for this HodlBot review, we believe it’s an excellent service for serious but quasi-passive investors.

Most portfolio rebalances generally lead to more hassle than they’re worth, and most people in crypto are probably content with a simple buy-and-hold strategy that doesn’t require them to rebalance. Still, there are certainly those who take their portfolios much more seriously. If you’re one of those investors, you will likely find HodlBot’s rebalancing and custom portfolio tools incredibly useful.

The ability to create multiple portfolios with specific holdings and weightings and then rebalance or switch back and forth at the click of a button is a luxury any serious long-term crypto investor will love.

That said, the HodlBot platform is definitely not for traders–despite its trading bot functionality–and is probably not for novice investors with small portfolios. Still, the costs could be justified for anyone who can get overwhelmed managing their assets. In fact, the more crypto holdings you have, the more HodlBot will appeal to you as a simpler way of implementing any organizational system via allocation size.

Even if you want to implement a simple index strategy, that option isn’t widely available or easy to do on your own, so HodlBot creates an excellent system for being a traditional passive investor.

To justify the cost of using HodlBot, you would want to make sure its services are providing additional growth to your portfolio of at least $20 a month, and that might be hard to say with confidence if you don’t have a very large portfolio.

So while HodlBot is a fantastic resource for optimizing your investments, it remains a hard sell for anyone with a minimal number of crypto holdings or just a small account value.

However, if you think HodlBot can save you a fair amount of money or headache with portfolio management tools, there’s no reason not to create an account because it really is that helpful.

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Austin DeNoce

Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders. He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein. Austin specializes in topics related to cryptocurrencies and blockchain technology.

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