Topic: Hodlie: AI-powered BTC trading bots for the everyday user (Read 167 times)

I actually hate the concept of bought trading and when people add AI to it, it becomes more suspicious to me. I know AI is a great thing but is it yet capable enough to give out accurate results? Let's keep that AI and bot stuff to the side. The more concerning part of this is the API key. Binance is a centralized platform itself, and giving its API key to another centralized platform is not appealing to me. They can claim whatever they want. Can't touch your assets, can't move your funds blah blah blah.... But what's going inside no one knows except for the owners.

I only approve of trading bot if you have created it yourself. Using centralized or something that has been created by someone else should not be the top priority when it comes to trading. You are dealing with money and you are okay with giving it access to other people?

Not me! I will never do that. I have saved this multiple times in some of my previous posts. I will say this again for you. If you are trading with bot, you will rely on them. You will become dependent on them. So imagine a time when those are not around and totally gone. You will be left with nothing. No knowledge no experience. You will not know how the market works and how you should trade. What happens then?
My suggestion is, do it on your own, gain the knowledge and experience so that you can continue to trade and become a better trader in the future. Or else you will have to learn everything from the ground up and that could be a time-consuming thing. Better to start it early and not to rely on others.

There is a UK or Italian Flag. You can choose the language.

If they just would have said no, this wouldn't be a red signal. Now it sounds like they are giving excuses. There are older, more legit and more time tested exchanges then binance. And implicating that they are smaller and a scam risk, is a comment from someone who doesn't know much about this space.


As of 20 Oct 2023, Binance has a trading volume of $4,738,146,467 in the last 24 hours and $3.92T in the last 7 days, according to BitDegree Exchange Tracker.2 Binance is the world's largest crypto exchange by trading volume, with $76 billion daily trading volume on Binance exchange as of August 2022, according to CoinMarketCap. Binance has 90 million customers worldwide and offers over 350 cryptocurrencies listed and thousands of trading pairs.1 Binance 24h volume is reported to be at $5,021,990,901.56, a change of -14.42% in the last 24 hours, according to CoinGecko. The most active trading pair is BTC/FDUSD with a 24h volume of $1,182,524,888.92, according to CoinGecko.3 Binance has a reported 24h volume of $13 855 460 007 with an estimated real volume of $8 536 930 840, according to Binance Exchange Statistics.0

For me it's ok.

Then what does this mean:

This option be only reason why i would be interested, but they already blew it with their answers, so i wouldn't use it even if it had that option.
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I've just studied PSPO and this is what I'm expecting of a new product. Frequent releases, frequent failures to better define and have a good product. I'm testing it, and I'm testing it now. I don't want to wait for 2 years until all the features are in place.  For sure you are a skilled and expert user. This product seems to be not for you effectively. I don't have time, so I need something automatic to contain the loss and let it run when necessary. I will report my experience in one month or more. For the moment the results are not reliable because the bots got already +12% in 6 days.

Only top right window i am getting, comes from browsers that have automatic translation system. So that would implicate that they are lying about completing the translation when they haven't done it in the first place.

If they just would have said no, this wouldn't be a red signal. Now it sounds like they are giving excuses. There are older, more legit and more time tested exchanges then binance. And implicating that they are smaller and a scam risk, is a comment from someone who doesn't know much about this space.

Then what does this mean:

This option be only reason why i would be interested, but they already blew it with their answers, so i wouldn't use it even if it had that option.

This is exactly what they do, if you reach to a point where you can control hundreds of thousands of dollars via your bot, that means you could buy something with all the money that you made from this when the time comes, and then you are going to end up telling all the bots to buy something you already bought, then sell at the top, and tell the bot to sell it for everyone, if not enough people get out, you can keep repeating it multiple times since it is quite fast and before the people reach and stop and before the exchange stops you would be able to make it go up and down while buying at the bottom and selling at the peak with the power you have.

Not that I am saying these guys are doing it, but I am just agreeing that its possible.

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.

I can answer to some of your questions because I asked the same on their telegram channel.

1) You can select the language on the top right, however there are some pages that are present only in Italian. They are completing the translation. Ah, and the main developers are italians.
2) No, and this done on purpose to decrease the risk to incurr in frauds with small exchanges
3) No, for the moment I see only btc-usdt. Others will come, but there is no ETA
4) No

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.


Good 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.

I used Criptsy long tme ago and they escaped with all the BTCs on the exchange. I used C.A.T. on a PC and 0day vulnerability was exploited to generate fake orders on Poloniex.
I agree on making the statement clearer.
I added a caveat to my post.

In any case I play only with the crypto that I can lose.
So far it's working fine +8.27 against the 5.88% of the market.
https://imgur.com/a/sypNNLt

Good point. it's not like the bot is whitelisting the IP address. When creating an API key on binance, you can protect it with an IP address, so that binance will not accept orders from others even if they have an API key. The problem is that its not bulletproof in this case if the bot is not open source, because it is enough that it is programmed in its code to launch an attack on day X at time Y on trading pair xxx/BTC and, using your machine and your API address, it sends an order to binance using your API key. My point is that when using this bot you have to TRUST and BELIEVE that you won't be robbed because they have tools for it (unless the bot is open source and you have checked every function)

This 3rd party trading bot has the risk of being compromised. A few months ago, another popular 3rd party website 3commas was exploited and hackers managed to place market buy orders on some low cap alts on Binance. This causes lots of fund losses for many binance customers. First many thought the problem was from binance but later they found that it was from 3commas that messed up the binance API.

I'm not sure how the bot does it but the best way to prevent unauthorized usage of your API, if it's your account, is to whitelist the IP address on where the orders are coming from. In this way, it would be safer. I don't know if the bot does that but Gunbot does it very well.

is this open source software? If not, you have no idea what the bot does and when, and if it has access to the API key that allows you to create orders, it has access to create orders regardless of the currency pair. Binance does not generate API keys for "very basic" trading only on the BTC/USDT pair. It it access to trading, it can attack the account at any time.

"Hodlie can place orders but can't touch your assets." - in my opinion this needs to be deleted form the OP so that people are aware of the risks.

The systems seems to be very basic, it's not a trading system.  I think you didn't check yet the portal.
You just subscribe to the proper bot and you can only select for the moment only BTC - USDT. There is no way you can control what is buying or selling. It's useful for users that don't have knowledge about trading, are interested in crypto and want to invest something with some return without becoming crazy.  System is losing too, it's normal. But it seems to be able to cut the loss in an effective way.

In any case I'm testing it...and I'm curios how is reacting in a bear market.

Well it definitely isn't believable, you've said it already, if the AI trading bot is that effective then they wouldn't share it to anyone, I mean that's what I would probably do too but no they've decided to share it which means that they're not sure it will work and they want to make money out of it while they're still testing it and with that linking in your wallet, that's definitely a red flag.

Now this is will probably be the case of AI trading bots for a really long time but the AI developers should never be discouraged regarding developing trader bots because AI at best is in infancy right now, as long as progress is a thing, we should expect bots for different purpose become good and even better than us.

The claims made by the OP are not believable if you ask me, the pro version is too cheap for the supposed benefits that it offers, as if any of those bots actually worked then you could recover your investment really quickly, however this goes both ways, the developer of such bots will be able to earn what they charge for their monthly subscription by using their bots if they worked, so why not remain silent about it and use their bots in this way?

Because they do not work obviously, now this is bad enough but you also need to link your binance wallet as well, making it very likely that you can get scammed at any moment by the developer of those bots.

This is a basic marketing strategy for a service like this. I've seen at least three projects in the last few months that require API access say the same thing, but can't completely convince me that they can secure the API data. I'd advise people to be cautious if a centralized service requires your API key, especially if an open-source trading tool becomes freely available.

Btw, OP just woke up from a long period of inactivity, his last post was in 2018, and then he made a promotional post with a referral link like this. Anyone should be aware about that issue before they try the service. Better to be safe than sorry.

If it were possible to try it for free with limited features and without linking my Binance account, that would be great. Do the AI insights come programmed or will they be based on the data in your account?
Linking accounts may lead to misuse of credit to purchase or initiate failed transactions, and then you cannot ask Binance to cancel these orders and they will claim that artificial intelligence does not mean that you will win money in a guaranteed way, as artificial intelligence may give some errors.

Monthly subscription prices are low if the tool is useful, its results can be used, and it has acceptable accuracy.

First of all thank you very much @OP for sharing the information about Hodlie.
I myself have read about Hodlie only recently in the news, it was intensively promoted especially in Italy (where the developers come from as far as I know): Hodlie changes the face of crypto trading: the project founded by 3 Ligurians

Personally, however, I think very little of automated bots, especially when the buzzword "AI" is used immediately. Despite AI, these bots can't do magic either and can only analyze the past at most. The biggest disadvantage is therefore that the bot cannot react to news/market sentiment/... because it simply lacks the information to do so.

However, it is always worth a try with virtual BTC and it is certainly fun. I would use my precious BTC at most in play money amount, just with the certainty that the money is most likely gone. In whatever form. 

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-f4ef2160f3ea

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!

You can monitor your bot’s antics from the dashboard or dive deeper into each bot's performance. And remember, good things take time.
I’m enjoying the ride with Hodlie and if you fancy joining me, here’s my referral link. https://app.hodlie.finance/signup?ref=RLPAVD31B
We both score some perks with your signup. Transparency is key, and I appreciate a platform that rewards for spreading the word if one is happy to use it.

Currently I'm working only with the virtual wallet, and I would like to get other opinion before investing real BTC.

Thanks

Crazy

PS: As reported by different users you have to pay attention to protect the access to the app and to your api key and secret. Even if the API cannot reclaim or move money, it can generate orders on Binance with the potential risks that you can lose everything !