Cryptocurrencies trading is really popular these days. I have bought crypto as well. This is the wallet I use. That is why I decided to write a Hodly review.
Introduction of the Hodly Review
Hodly is a relatively new online wallet, where traders can buy a wide array of cryptos. It is owned and operated by the company that owns IQ Option. Keep reading this Hodly review, as it is short and simple.Click here to get your wallet.
IQ Option is a reputable CFD and binary-options broker. It is licensed by several regulatory bodies. Read the full review here.
Initially, the wallet was for buying and selling actual cryptos (as opposed to trading cryptocurrencies as CFDs).
To buy cryptocurrencies on Hodly, you must, of course, create an account with them first. The Wallet allows two types of accounts with different functionalities. There are basic accounts and verified accounts. A basic account is a non-verified account and can only be used to buy, sell, and receive.
To get more from your wallet, you have to upload relevant verification documents. You can only send or withdraw to fiat currency after going through the verification app. Obviously, you have to make a deposit to buy cryptos. To that end, at the moment, they only accept deposits from debit/credit cards. You have to verify the method used to make the deposit.
Virtually any crypto tradable at IQ Option as CFD is available for purchase at Hodly. You can buy Bitcoin, Ethereum, Ripple, Bitcoin Cash, LiteCoin, Tron, and Dash. You can also buy Ethereum Classic, Zcash, OmiseGo, Qtum, and Bitcoin Gold.
Mobile Wallet and Hodly apps
The wallet offers a powerful mobile app with unmatched versatility. Even on the go, traders can leverage on small market movements to buy/sell cryptocurrencies. The Hodly app is on the Google Play Store and the Apple Store. Simply search “Hodly” in the store or go through the official wallet page.
Things You Will Love
1. Hodly Transaction Fees
Hodly is a stand-alone app; thus, its parent company doesn’t charge commission fees. From my experience, they don’t levy any fees to process deposits. However, they charge a fixed commission of 4.9% when buying crypto. This is well within industry standards.
For instance, a reputable exchange like Coinbase charges a myriad of fees. Other platforms have conversion fees that hinge on payment methods and converted values. Plus, there’s roughly a 3.99% commission on buy/sell transactions.
Although the commission levied by this crypto wallet is on the higher end, it is lower than Bitstamp’s 5%.Click here to visit the official wallet page.
2. Security – Is Hodly Safe?
With any online wallet, security is paramount. Therefore, they must ensure that traders’ deposits and cryptos are secure from unauthorized access. Even though Hodly has been around for a short time, you can rest assured your coins are safe from any threats.
As a precaution, they use cold storage. This means they have an offline storage for coins that makes them safe from hackers. Even if their site gets hacked, coins are air-gapped and, hence, can’t be accessed. In addition, their banking interface uses 128-bit SSL encryption for ultimate security.
3. Customer Support
Hodly’s customer support is superior compared to other online wallets. They offer support around the clock, including weekends and holidays. For quick help, live chat is the best support feature, where you get a response in a matter of seconds. Alternatively, you can shoot them an email or contact them on social media.
The website and customer supports are available in multiple languages. These include Swedish, English, Chinese, Turkish, German, French, Korean, Indonesian, Spanish, and Thai.
This is a 40seconds official promo video of the Hodly wallet:
Be the first to leave a review.
This was my Hodly wallet review. You can leave yours above if you have used it. Or leave comments and questions below.