- • Innovative cryptocurrency storage and trading solution
- • Very user-friendly
- • Wide variety of supported cryptocurrencies
- • Fast deposit and withdrawals
- • Fees & commissions are not transparent
- • New cryptocurrency wallet/exchange
Hodly is an all in one cryptocurrency solution for buying, selling, sending, receiving and storing cryptocurrencies safely and securely all in one place. In essence, Hodly is both a personal cryptocurrency wallet and exchange which provides a greatly simplified and user-friendly experience. Hodly offers a web-based interface and a mobile application which was developed by the highly reputable and experienced IQOption trading brokerage. IQOption recently started to support account funding and trading with cryptocurrencies on their online trading brokerage and has now developed Hodly as a serious side project for cryptocurrency users. The Hodly application was just recently released in 2018 and quickly became a hit among cryptocurrency users from around the world. The application is open to users from every country in the world and supports funding via Visa, MasterCard, and SWIFT Bank Wire Transfers. Hodly is an innovative all-in-one cryptocurrency solution, but is it all that it’s stacked up to be? Find out in the following review where we’ll delve deep into all aspects that make up this cryptocurrency wallet/exchange and see what sets Hodly apart from the competition and whether or not they can be trusted.
The Hodly platform is available on both desktop computers via the web-based interface and on Apple and Android mobile devices via the downloadable mobile application. The web-based interface and mobile applications operate very smoothly and are very user-friendly. The whole premise of Hodly is to provide a simple and seamless all-in-one cryptocurrency solution, and they do just that. Users can easily switch between the trading interface and their personal wallet with the click of a button, it’s that easy. See below, some of the key features the Hodly cryptocurrency platform offers their users.
- Fast deposits and withdrawals with SWIFT Bank Wire Transfers or Visa/MasterCard.
- Hassle free and easy verification. Upload your government issued ID to the app and you’re good to go.
- View a live price explorer with interactive charts to see market movements and market capitalization for all your favorite cryptocurrencies.
- Track your trading history and view your profits and losses based on your trading activity.
- Hodly supports cryptocurrency coin forking for a variety of cryptocurrencies. This ensures traders will always receive their free coins.
- Live chat room for engaging and socializing with other Hodly members. Traders can discuss price movements and their favorite cryptocurrencies.
Overall, the Hodly wallet/exchange is a truly innovative development in the cryptocurrency space. There are very few cryptocurrency wallets who act also as an exchange, making Hodly one of the first movers in this area.
Hodly is a cryptocurrency wallet and exchange and therefore solely features trading in the cryptocurrency markets. However, users can fund their Hodly wallets with both cryptocurrency funds and fiat currency funds. Multiple fiat currencies are accepted, but all fiat currencies are exchanged for US dollars upon sending to the Hodly wallet. These US Dollars can then be used to buy a wide variety of cryptocurrencies that is constantly growing. Also, Hodly users can exchange cryptocurrencies with one another instead of buying cryptos with fiat currency. Currently, Hodly supports 12 different cryptocurrencies, see them listed below.
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- EOS (EOS)
- Tron (TRX)
- Dash (DASH)
- Ethereum Classic (ETC)
- Qtum (QTUM)
- OmiseGo (OMG)
- Zcash (ZEC)
- Open Trading Network (OTN)
Fees and Commission
Hodly can save cryptocurrency traders numerous transaction fees because there is no need to send cryptocurrencies from your personal crypto wallet to the exchange because with Hodly it’s all in one. As well, the fees associated with buying, selling, funding and withdrawing are said to be quite competitive. However, no where on the website or mobile application does it state these associated fees. We found this somewhat unsettling as they are not being very transparent with the associated costs.
Security and Fairness
Hodly combines the convenience of holding your cryptocurrency on an exchange with the security of holding your cryptocurrency offline in your personal wallet. Hodly stores 80% of all funds offline in secured cold storage wallets. This way your cryptocurrency funds are safe from hackers and you can still buy and sell your cryptocurrency because Hodly keeps enough coins in their hot wallets to facilitate the transactions. Another security feature is the utilization of a two-factor authentication (2FA) method for logging in and making transactions. The 2FA method used is an SMS messaging system which sends the user a one-time code specifically to the user’s phone. Other security features include advanced SSL protocols for the transmission of information online, PCI DSS security for processing and storing bank card information, and AES-256 encryption which makes your sensitive data impenetrable. All in all, Hodly is a very safe, fair, and secure cryptocurrency wallet and exchange.
The customer support offered by Hodly is very good. Support representatives can be reached via the Hodly in app chat function or via email. The in-app chat function is the fastest and best way to contact support as it is available 24 hours a day, 7 days a week. The support representatives are very quick to respond and are also very knowledgeable and friendly with their responses. Unfortunately, there are no telephone numbers of helpful guides available, but the excellent customer support through the live chat function makes up for it.
Hodly is an innovative cryptocurrency wallet and exchange that has been built into one easy to use web-based or mobile application. The Hodly wallet/exchange was built to provide an easy and secure way to store, send, receive, buy and sell a variety of cryptocurrencies. The Hodly app offers excellent customer support and very innovative services. We highly recommend checking Hodly out as they offer exceptional trading and storage services for a variety of cryptocurrencies.
The following are the common questions that customers inquired about Hodly.
Is Hodly regulated?
No, it is not a regulated service.
Is Hodly a scam?
No, Hodly is a legit wallet/exchange which was developed by the reputable IQOption trading brokerage.
Where is Hodly based?
Hodly’s main headquarters are located at Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles.