HODL bot was created to help you make long-term investments into your favourite cryptocurrencies using a Time-Based DCA (Dollar Cost Average) strategy.
This is how it works.
You choose your favourite cryptocurrency that you believe will appreciate in value over time (typically months and years).
The bot will invest the amount of funds you specify in the cryptocurrency at regular time intervals that you also specify.
It will then repeat the purchase of the cryptocurrency until you stop the bot.
For example, let's say you have $300 a month to invest in cryptocurrency.
You believe in the long-term future of Bitcoin. You could choose to configure HODL bot to buy $300 of Bitcoin every 30th day or you can set the HODL bot to buy $10 of Bitcoin every day at 0600hrs - it's up to you! Awesome, right?
So this will accumulate the coins on your balance no matter what price it is - the bot will keep buying at the same time for you every day/week/month.
This will make the average price smoother and lower.
Again - this is a long-term strategy that has positive results confirmed by time.
Now it's time to create a HODL bot.
Open the HODL bot page
Configure your new HODL bot's settings:
Choose the exchange
Choose the coin that you want to accumulate
Choose the currency of the funds you wish to use to invest with (minimum amount depends on the exchange)
Choose the time period when the purchases should occur (min 1 day, max 30 days)
Choose the time when the purchase should happen
Choose the day when the bot will make its first purchase
Double-check the settings and click on Create bot button
Congratulations! You have now created your own HODL bot!
When you return to the HODL bot page in the future, you will see the progress and status of the bot.
What will I see when my HODL bot is running?
The HODL bot has a clean status display, that shows:
Name of linked exchange account and the name of Exchange it is created on
A toggle button to stop/start the bot.
The frequency of the purchases and the next scheduled purchase the bot will make, along with the quantity and the currencies used.
The Average buy price of the purchased currency.
The current market value of the cryptocurrency the HODL bot has purchased, for example, if you were to stop the bot and sell the purchased amount immediately.
You can delete the bot if you wish to sell the investment.
Also you can edit the bot at any time to change the settings configured.