HodlBot Launches on Bittrex - Bittrex Trading Bot
We’re excited to announce that we just launched our exchange integration for Bittrex Global.
As of today, HodlBot users will be able to create, diversify, and automatically rebalance their portfolios, right from their own Bittrex account.
If you’re unfamiliar with how HodlBot works, we are the middle layer between the exchange and the user. Users connect their exchange accounts to HodlBot and create/choose the portfolios they desire on our platform. We then programmatically send the trades to the exchange in order to achieve your desired portfolio composition.
To get started, all you need to do is input your API keys (trade-only) into HodlBot.
After that, you can get started with selecting an index, or creating your own portfolio/index.
Why We’ve Chosen Bittrex
At HodlBot, we pride ourselves on our rigorous approach to selecting exchanges. Every time we launch an exchange integration, we take the following factors into consideration:
- Liquidity — Are order book deep? Will users be plagued by slippage and high spreads?
- Integrity — Does the exchange report fake numbers, or does it act with honesty?
- Trading experience— Are trading fees reasonable, trading minimums low, trading pairs abundant, and the UI user-friendly?
- Popularity — How many people are using the exchange?
- Diversification— Are we providing enough geographic coverage across the exchanges our users are using?
According to coinmarketcap, Bittrex only ranks in the top #50 exchanges by reported volume, but Blockchain Transparency Institute, a 3rd party trading volume analytics firm, ranks Bittrex much higher at #18.
We’ve also done our own analysis, and have found that Bittrex’s liquidity was inline with other trustworthy exchanges: Binance, Kraken, Coinbase.
On the trading side of things, Bittrex features 318 active trading pairs and charges a 0.25% transaction fee on trades. The minimum trade size is 50,000 satoshis (0.0005 BTC).
Advanced user security protocols are available and encouraged by Bittrex.
- IP whitelisting— logging in from new IP addresses triggers 2FA.
- Crypto address whitelisting — whitelist addresses that withdrawals can be made to
- 2 Factor Authentication — Google Authenticator > phone number due to the phone numbers being vulnerable to SIM hacks
Adding an international exchange like Bittrex helps round out our exchange coverage. Between Binance, Binance US, Kucoin, Bittrex, and Kraken, we have strong geographic coverage in almost every area.
Despite this, we are not slowing down. We want to provide more options for users who may only want to use their favourite exchange or users who may want to use multiple exchanges at the same time to diversify their holdings.
Let us know in the comments what the next exchange you would like to see HodlBot support!
Written by Anthony Xie
I’m the founder of HodlBot.
I’m a big data nerd. I like to talk about all things data, finance, and crypto. You can find me on Twitter here.