Hodly – a crypto-currency wallet from the IQ Option

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Hodly Review: App to Buy & Sell Cryptocurrencies with Your Bank Card

Hodly is a new platform with a mobile wallet for storing, buying, and selling major cryptocurrencies, it’s one of the latest ways you can complete fiat purchases of cryptocurrency using your bank’s debit or credit cards. Hodly was created by the IQ Option team and is aiming to be a competitor of Coinbase, another easy to use app for purchasing cryptos with fiat currencies.

The wallet is designed to be simple to use and because it is also a mobile application, users can have it with them at any time. The wallet provides an intuitive method of buying cryptocurrency with your method of choice as well as the ability to securely store cryptos. Because it supports all the major coins, most Hodly Wallet users will only need this single wallet for all their cryptocurrencies.

Update: As of May 2020 The Hodly wallet no longer accepts new customers. You can still signup with their parent company IQOption.

Hodly Account Creation

You can easily sign up for Hodly via the website or the application, the process is quick and simple and you will have access to your account in seconds.

Most of the functions do not require verification. With a Basic account, you can buy, sell, and receive cryptocurrencies. Verification is required for sending or withdrawing funds, but the process is incredibly simple. You just upload an image of your ID, and your account will typically be verified within about 15 minutes.

When you log into your Hodly Wallet account, you will see an easy-to-read summary. It includes the value of your entire portfolio in fiat currency as well as divisions for fiat and cryptocurrencies, divided into “Accounts” and “Crypto Wallets.” In the case of the crypto wallets, the platform displays the quantity of each coin as well as its equivalent in fiat currency and recent change.

How to Buy Cryptocurrency with Hodly

One of the most convenient things about the Hodly Wallet is the ability to purchase cryptocurrency via your chosen bank card. The wallet supports both Mastercard and Visa. Alternatively, you can purchase cryptocurrency with your account balance. To make the process go by smoothly, buying crypto can be as simple as selecting the cryptocurrency you wish to purchase then selecting a preset amount, such as $100 or $200. If you prefer, you can also choose a custom amount to buy exactly as much as you wish.

Sending & Receiving

Sending and receiving cryptocurrency via Hodly Wallet is straightforward. Transfers between two Hodly users are always free, letting you keep your hard-earned crypto. Just select the currency and click either “Buy” or “Sell.” You will see your transaction history regarding this currency, as well as the current price of the crypto in question.

Other Features

In addition to basic functions of storing, selling, buying, sending, and receiving cryptocurrency, Hodly has support for forks. This means that you can hold onto your favorite coin (or HODL it) and then benefit from the planned fork. It also includes an “Ultimate Explorer” with all the charts, market caps, price changes, and other data you need in a single place for easy purchase or sales decisions.

Those who plan to use Hodly Wallet to trade cryptocurrencies on a regular basis or with specific investment goals in mind will appreciate the newsfeed, which displays crucial information regarding upcoming announcements and the latest events. This can let users stay up to date on cryptocurrency news, so they do not miss out on an event that impacts the value of the cryptos they hold or want to buy.

Hodly Chat

While most cryptocurrency wallets are simply for storing and using your cryptocoins, Hodly Wallet also includes some social features, such as the chat function. This chat is within the application itself, so there is no need to waste space on your phone by downloading an additional app. Using the chat, you can talk to others on the platform any time of the day about specific cryptocurrencies. The chat feature is also your key to accessing the Hodly Wallet’s 24/7 customer support.

What Devices Does Hodly Support?

Those who want a larger view can use the Hodly Wallet via its website. Just visit the homepage and sign in to access the features. Most users will want to download the Android or iOS application, which also have full functionality. This means that you can use Hodly to buy or sell cryptocurrency using your bank card or send and receive tokens. Use the plication to check the relevant information for your chosen cryptocurrency, including the market cap, 24-hour changes, and price history.

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Hodly Fees

I couldn’t find any information about the fees that Hodly charges which is a little disconcerting so I contacted customer support via the chat box who didn’t respond.

To try and find out what the fees are, I added a test transaction of £10. In the popup box to confirm payment, the fee does get listed as 4.9%. The app says would give me 0.015339 BTC, at the time of writing I should have been able to get 0.0164010 BTC so really Hodly is charging a fee of 0.001062 BTC which is £6.47 roughly so the fee is around 6.5% which is quite high. For example, Coinbase in the UK charges 3.99% for instant card purchases.

Hodly Customer Support

Support on Hodly is provided by the chat box, accessed with the icon in the bottom right hand corner of the site. You can send your query there as a message, unfortunately when I tried it I got the message:

Dear trader, at the moment all the specialists are busy. Please write your question in details and it will be replied as soon as possible.It is temporary inconvenience. We truly appreciate your understanding.

Customer reviews online with the app receiving 4 out of 5 with 276 reviews on the Android app store.

Is Hodly Safe?

To keep your funds and personal information secure at all times, Hodly Wallet uses two-step verification, as well as cold storage. To protect information from the start, Hodly Wallet transfers sensitive information to a secure storage facility that is not connected to the internet. Then, the data undergoes encryption before the system makes backup copies of the encrypted data on paper and flash drives. The copies, as well as the originals, are distributed across multiple bank vaults in several countries, providing further protection against hackers, as well as major issues, such as natural disasters.

To prevent unauthorized access to your account, Hodly Wallet strongly encourages users to enable two-factor authentication (2-FA). With this feature enabled, you must use a code delivered to your cellphone to log into your account, in addition to your password and username.

To protect your money and information during the processing of payments, particularly those using a Visa or Mastercard, Hodly Wallet has multiple security measures in place. The platform and website use the SSL (Secure Sockets Layer) protocol, which is considered the golden standard of the internet for protecting information online. The wallet also utilizes PCI DSS, the world-class security standard used for the acceptance, processing, and storage of bank card information. Finally, payments use AES-256, the most advanced encryption standard to ensure your sensitive data remains impenetrable.

To round out the security features, Hodly Wallet has strict restrictions on access to sensitive information for staff. Additionally, it monitors and logs all access to the data of customers.

Conclusion

Hodly Wallet has support for the most popular cryptocurrencies and goes above and beyond other wallets by making it possible to send or receive crypto or to buy and sell it. The ability to purchase cryptocurrencies using a bank card is particularly useful since this makes it easier for more people to get into the world of cryptocurrency. The choice of an online wallet or the apps for Android and iOS also makes Hodly Wallet very accessible to all users.

The desktop and mobile apps are well designed and easy to use, the interface feels very fresh and modern so beginners should have no trouble at all using it.

Fees are higher than Coinbase, but Hodly has a larger amount of cryptocurrencies available to buy with Fiat. With that in mind, if you are looking to purchase ETH, LTC, BTC or BCH you would be best using Coinbase. If you need to buy XRP, ETC, BTG, ZEC, OMG, NEO, OTN, XLM or TRX with Fiat then Hodly is the better choice.

IQ Option are a large and well established company with huge revenues so it’s no surprise this is a well made crypto offering, we recommend you take a look if you would like to purchase additional cryptocurrencies with your bank card that are not available on Coinbase. If you are comfortable using traditional exchanges though, it would make sense to purchase Ethereum or Bitcoin via Coinbase and then trade for your required currency on another exchange.

Update: As of May 2020 The Hodly wallet no longer accepts new customers. You can still signup with their parent company IQOption.

IQ Option Review

Overview

The IQ Option company has set a goal to create the best solution on the market. Working with the IQ Option traders, you get access to a new and innovative platform for binary options.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Details

Broker IQ Option
Website URL www.iqoption.com
Founded 2020
Headquarters Hinds Building, Kingstown, St. Vincent and Grenadines
Support Number +357 25 262 010
Support Types Online chat, e-mail, calls (Support 24/7, 14 languages)
Trading Platform Self-developed trading platform
Minimum 1st Deposit $10
Minimum Trade Amount $1
Maximum Trade Amount $20 000
Payout Up to 91% *
Leverage 1:1000
Spread from 0, 007 points
Free Demo Account Open Demo
Fees
Fee Info Only for withdrawals via bank transfer (31-93 USD, no minimal amount)
Deposit Methods Visa, Master Card, Wire Transfer, Skrill, Qiwi, WebMoney, Fasapay, Neteller, Boleto
Withdrawal Methods Visa, Master Card, Wire Transfer, Skrill, Qiwi, WebMoney, Fasapay, Neteller, Boleto
Number of Assets 500+
Expiry Times 60 sec, 2 min, 5 min, 10 min, 30 min, 1 Hour, 3 days, 1 week, 1Month
Types of Assets Indices, Commodities, Currency Pairs, Stocks, Forex, Equities, Cryptocurrencies
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 9.8/10

Additional Information

  • Download the iOS mobile app
  • Download the Android mobile app
  • Download the iOS IQ Option Forex mobile app
  • Autotrading: no
  • Training: yes
  • Analytics: yes
  • Affiliate Program: yes (Registration)

Full Review

*Amount to be credited to account for a successful trade.

«General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose».

«Digital and binary options are prohibited in EEA».

One of the advantages is that the broker IQ Option follows all regulatory rules to ensure secure trading.

Options of the broker IQ Option

The leading broker offers its users profitable trading in foreign currencies on one of the largest and most liquid financial markets – Forex. Cooperation with IQ Option is an excellent opportunity to receive a stable income from Forex trading on the best terms: the trader can count on a large selection of volatile assets, narrow spreads, fast execution of orders, hedging, a free demo account and fast transactions within the system. Additionally, there aren’t any commissions or slippage. Today it’s one of the most ideal conditions for trading on the market.

All the main operations are carried out on a perfect platform, which appears to be the development of the broker IQ Option itself. The platform has made trading a comfortable and convenient process. Here you can change the terminal skins and types of charts, add indicators and graphic elements for advanced technical analysis, use several charts at once, close several trading positions with one button, use the multiplier to increase your earnings, study the history of quotations, adjust stop-loss and take-profit orders.

Forex trading

The functional terminal IQ Option is available on different devices, including the availability of downloading a mobile application for free, which will provide constant access to the market, regardless of where you are. The highly informative broker’s website will also enable you to improve your skills by studying qualitative teaching materials. Traders can use an economic calendar and online chat. In order to make Forex trading (truth about Forex) with this broker more profitable, users are provided with professional support, including volatility signals, current market news, promotions, newsletters, etc.

The multiplier option for Forex trading will enable you to significantly increase your income by using the borrowed funds that the broker provides to you (by simply opening a position of $100 with a multiplier x10, you will get a profit commensurate with the investment of $1000). So, you can trade in impressive amounts, while having a minimum deposit on your account. It’s possible to increase your trading capital from 1 to 1000 units (х1, х20, х50, х100, х300, х500, х1000). However, it’s worth remembering that the risks associated with such trading are also high. But if you take seriously the capabilities of this tool, it will bring you unlimited profits.

Since October 2020 the broker started providing unfettered users with increased multiplier x20 for trading CFD for shares. In high volatility periods in the stock market the multiplier may become a very gainful trading way for those traders looking for a chance to earn on price changes. With the broker a unique option is available: investments of funds exceeding the trader’s budget. For instance, you may open a stake for 500$, apply the multiplier x20 and get profit you might obtain investing 1000$. In case the transaction completed not in favor of trader, his negative earnings will be limited just by 500$, and he won’t lose more than he invested.

Risk warning: your capital might be at risk

Trading in digital currencies with IQ Option

The broker IQ Option is truly interested in providing its clients with assets. That’s why the broker’s clients have an opportunity to trade in crypto assets, which are currently booming. Following the trends of the time, the broker offers clients and holders of crypto assets a perfect solution – provision of the service necessary for full-fledged trading in digital coins. On the broker’s platform you can freely sell or buy digital currencies and store them in crypto wallets for free.

Working with this organization guarantees exceptional security of information and funds, the stable operation of the platform, and high earnings on trade in the most liquid crypto assets as well as fast withdrawal of money. Investing in cryptocurrencies with the IQ Option broker is legal and safe. Unlike crypto exchanges, working with the broker means dealing with a licensed and well-regulated company, which has a monthly trading volume of more than $11 billion. The broker uses modern security protocols as well as encryption methods to ensure the maximum protection of your capital. All users of the system are offered OTN tokens (Open Trading Network), which are given for trading in crypto assets: the more you trade, the higher your commission, on which the system pays out tokens (are cryptocurrencies a scam?). Further, they can be easily exchanged for OTN-coins, withdrawn to the wallet or sold to earn an income.

The perfect IQ Option platform will enable you to maximize your benefits from trading. You can conveniently trade in digital coins, conduct deep market analysis, study the history of your transactions, etc. Only the best cryptocurrencies are available for investment: Bitcoin, Dash, Ethereum, Bitcoin Cash, TRON, Ethereum Classic, ZCash, Litecoin, Ripple, etc. The system allows the quick purchase of these digital coins in various ways, including bank cards (VISA/mastercard). You can easily withdraw digital assets from the platform. Moreover, the broker provides its users with free crypto wallets to store digital currencies. These wallets are automatically created for each investor. Thanks to the mobile version, crypto trading is available 24/7, at any time you find convenient. In addition, the broker is happy to offer customers high-quality technical support that is capable of resolving issues of any complexity in just 46 seconds, 24/7/365. Without exaggeration, it’s the fastest support service among brokers.

Another advantage of IQ Option is an awesome ability to invest in digital assets using a multiplier, which can increase your earnings by several times using even minor price changes. This tool came to crypto trading from Forex and immediately became popular with users. Thanks to this unique option, you can trade in crypto assets with a minimum deposit and receive unlimited earnings with the help of borrowed funds provided to you by the broker. Leverage (in the case of IQ Option, it’s a multiplier) offers work with positions that exceed the actual balance of your trading account several times. Opening a deal for $100 with x5 leverage, you can earn real income of $500 as if you invested $500. The broker offers to increase the crypto capital for work with the help of the following multipliers: x3, x5 and x10. We note that traders prefer to use high leverage, which gives tangible results from trading in digital assets (2020 cryptocurrency forecast).

Risk warning: your capital might be at risk

Crypto wallet Hodly

You’re welcome to get familiar with Hodly. It’s the perfect way to have your crypto traffic monetized. The broker IQ Option officially released a new convenient crypto wallet called Hodly. Despite the fact that it’s very easy to use, it’s a serious product, which can help traders earn money by investing in crypto assets. Having downloaded a free wallet (App Store, Google Play), you get a safe and powerful tool that will help you to easily monetize the chosen cryptocurrency. You can buy, sell or store digital coins in just a few clicks. The application has a built-in news feed, enabling you to track market trends.

Due to the fact that you can store currency here, you don’t need to look for crypto wallets, pay for transfers, or send digital coins to exchanges to for pay trading. Now all of these functions are available in one reliable solution.

Features of Hodly:

  • Fast deposits, rapid withdrawal of capital on a bank card;
  • Safe storage of funds: both fiat money and crypto assets. In this case, your confidential data is stored not on the device, but on a secure server, completely encrypted;
  • A wide range of crypto assets for trading, the number of which the broker plans to expand;
  • The absence of verification for purchase, sale and receipt of cryptocurrencies; simplified verification for the withdrawal of capital (you only need to upload the passport and the service managers will verify identity in 15 minutes);
  • Live chat with like-minded people and support staff;
  • Bonuses for participants of the system (50% of the net revenue from the commission for each purchase or sale of cryptocurrencies in the wallet).

CFD trading with IQ Option

Following the latest trends of trading, the IQ Option broker offers its users convenient CFDs, which are available to both Forex traders and those who invest in crypto assets. The peculiarity of CFD trading is that the trader receives an income not based on the purchase of an asset but on fluctuations in its value. At the same time, it doesn’t matter whether the price of this asset increases or falls – the speculator can earn in both cases. Such contracts allow you to trade, but not to acquire an asset; in addition, you don’t need to pay taxes for transactions and you don’t need to deal with documents. You only need to enter into a contract, which specifies the difference in the price of the asset in the event of a transaction being opened/closed. Today CFD-contracts are an advantageous way to receive decent earnings for those who don’t have enough funds to enter the market.

Buying contracts for the difference in the prices of cryptocurrencies, the investor earns on the difference between the current and future prices for Bitcoin. The greater this difference, the higher your profit will be. At the same time, such trading is advantageous for short-term deals. In addition to crypto assets in similar CFD contracts, the broker IQ Option offers trading in shares and fiat currencies. It’s also possible to increase the amount of earnings with the help of a multiplier, enabling you to trade in large amounts of funds and get even greater benefits. Also, when forming trades, a trader can set limits on losses and use market orders.

Since October 2020 there are 50 new CFD for shares available on the broker’s platform, with the total number of CFD for shares – over 150! Among assets available for investments there are shares of such companies like eBay (EBAY), Bayer (BAYN), McDonald’s (MCD), Adobe Systems (ADBE), Facebook (FB), Apple Inc. (AAPL), Kraft Heinz Company (KHC), Starbucks Corporation (SBUX), PayPal (PYPL) etc.

Risk warning: your capital might be at risk

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions

Withdrawals and deposits

A good sign is that the amount you can withdraw is not limited! There are brokers who will not allow you to withdraw all of your profits, if the profit is very large. This fact can cause a lot of trouble and anxiety among traders. The IQ Option not only refrains from doing this, but also processes withdrawal applications quickly, allowing its traders to get their payouts as quickly as possible. Customers receive payments within 1 working day. To withdraw funds, you can use a credit card, wire transfer, Skrill, Qiwi, WebMoney, CashU, iDeal, Fasapay, Neteller, or Boleto.

The IQ Option does not take a commission for financial transactions, but a commission can be withheld by payment systems or a payment aggregator.

Complaints about IQ Option

We have searched the Internet for any complaints, and we found some negative reviews, but we thought it was the speculation of competitors; with regard to criticism that was objective, the company has resolved it all in a positive way. In several forums and blogs, we saw customers complaining that they did not receive approval for a withdrawal. But in each case, an official representative of IQ Option responded, and the problem was resolved, as evidenced by the initiators of the complaints. We do not believe this is a cause for concern, because, firstly, all problems have been successfully resolved by the broker, and secondly, the broker has strictly followed the «Terms and Conditions» policy, which outlines its obligations, and has solved all issues in a timely manner.

If we find complaints about IQ Option, we will post it on social media. Follow us to be well informed:

Is the IQ Option a scam?

IQ Option is currently one of the most law-abiding brokers in the market. For a long time, IQ Option activity has been regulated by the Center for Regulation of Financial Market Relations, which oversees them.

Regulator broker

The IQ Option is a regulated broker. This regulation provides accountability to the brokerage companies, as well as the fact that all customer deposits are compulsorily insured. That is, in case of financial problems with a broker, you can easily get your money back. And this feature also indicates a broker’s reliability.

Summary

In general, the IQ Option is one of the leading brokerage firms on the market. The IQ Option won the ShowFX World prestigious award as the «Most Innovative broker in binary options». The award was received at the largest international forum, which is dedicated to modern advances in the Forex market. Looking at the simple and intuitive graph of IQ Option, we can conclude that this is a definite leader compared to popular options such as Keystone, SpotOption and Tradologic. The difference in quality, services and functionality is obvious and visible to the naked eye. The IQ Option is comfortable and nice to trade with.

Conclusion

Trading in options can either be done with classic or turbo options. The purchase of an option is carried out in just one click. All transactions can be viewed in the section of the site that displays the history of all operations. Once the transaction is completed, a window pops up with the results of the auction. An interesting feature is that you can immediately share your success with your partners and friends in social networks.

The profitability of assets is very high and reaches 92%* of the indicators.

*Amount to be credited to account for a successful trade.

«General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose».

Reviews

I have a fully documented complaint. I have more than USD$175 thousand in funds available to withdraw. Several details are in between. Withdrawals have been cancelled by IQ IQ option has not responded in writing. Please let me know if you want to discuss.

Hodly – a crypto-currency wallet from the IQ Option

Hodly is a cryptocurrency wallet that was created by the founders of IQ Option Ltd.

It’s actually quite easy for you to register on Hodly and the whole process should take 5 minutes.

If you don’t have an account yet then you will be required to fill in your email address and password.

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