What Is Hodly?
Hodly is a new trading platform for the people who are interested in trading cryptocurrencies. By enabling to buy, sell and store the major cryptocurrencies on the market (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple, Zcash, among others), this can be an attractive way in the cryptocurrency market.
This company focuses on delivering a product that is simple to use because it targets new users of this market that are not expert traders yet and need platforms that they can understand well.
The site has many data charts that you can use to understand the price changes of the market and make more informed decisions about how you should spend your cryptocurrencies. It has support in the case that a hard fork happens while you are holding a cryptocurrency.
You will also be able to use the community chat to know other traders and exchange information with them.
Using Hodly To Buy & Sell Cryptocurrency Bank Card App
After creating your account, you can easily send money to it by using credit cards from Visa or MasterCard. Unfortunately, there is no other way to send money to the account at this moment, only using one of these two ways. There is no limit or minimum amount that you can choose to send.
You will only need to verify your ID when you withdraw the funds. You only have to use a document and you will probably be verified in less than 15 minutes, according to the company.
The Hodly Wallet
Hodly also has a wallet that you can use to store the tokens that buy on the platform. To ensure the safety of your tokens, Hodly keeps your money in cold storage. This means that your money is kept offline when you are not using it, so it can’t be hacked because it cannot be accessed. The data of the Hodly wallets is completely encrypted and backup copies are made on flash-drives and paper.
There is also the 2-factor authentication, another measure created to ensure that the clients of Hodly will be protected. In addition to your username and your password, every time that you log on the system you will also have to use a pin code that will be sent to your phone.
While this makes for a more cumbersome login, it means that you are more protected. Hodly also uses SSL protection, PCI DSS and AES-256 to ensure that you do not have to worry at all with security and privacy while using the company’s exchange.
The wallet can be used on your phone. All that you have to do to access this feature is download the app for Android or iOS.
This looks like a very good exchange if you are not looking for hundreds of choices. While it lacks the number of choices that you would have on Binance, for instance, it is fair to say that Hodly is a great crypto exchange for starters.