Recently, I came across Hodlie, an intersting and new platform where AI digs into BTC trading to offer insights for making better trading decisions. The idea is pretty solid, and I found myself delving into it.
Before you dive in, you'd need a Binance wallet. If you've got one, you're ok. If not, no sweat, you can sign up for one or try Hodlie through a Virtual Wallet for a simulated experience as they're working on integrating other exchanges.
The setup is a breeze. Just head over to the WALLET page and link your Binance wallet using the API-Key. It’s safe and secure – Hodlie can place orders but can't touch your assets.
If you switch to Pro, you can enjoy a 30-day free trial to test the waters.
The cost afterward is pretty decent too – €4.99/month for a yearly subscription or €7.49/month if you go monthly.
Creating and launching your bot is a cakewalk.
There are three bots to choose from:
Deep Scalper - A quick mover, capitalizing on market inefficiencies.
Grizzly - Plays the long game, minimizing risks during bear markets.
Dynamo - Learns on the go and swiftly adapts to stay efficient short-term.
Pick a bot, allocate your amount, select your currencies, and you’re off to the races!
Two questions:
1. Why is their website available only in Italian?
2. Are exchanges other than binance available?
3. Does it work with ANY pair?
4. Does it support leverage trading.
Hodlie can place orders but can't touch your assets.
if it can place orders, it can also easily steal funds from the account. How? All the attacker needs is to convince a few people to give their api keys that have some capital behind them, then buy some low-liquid altcoin and then use the low-liquid currency pair to carry out the attack. How? by ordering all accounts to buy this altcoin at one time and setting his account to sell. For example 100k $ is enough to create x3000 flash pump on THETA/BNB trading pair.
The attacker buys THETA for $3,000 and sells it for $1 million, while stealing $1.1 million from the attacked accounts.
I've seen something like this several times, and the most popular case was a few years ago on the VIA altcoin.
https://medium.com/chainreport/binance-phishing-attack-creates-api-pump-f4ef2160f3eaGood point, but to be honest, when someone sells a closed source anything, not just a trading bot, it could always be or scamming people.
I guess as an act of good faith, they could audit their product with some legit 3rd party that does that.