My concern with such a bot is dealing with taxes at the end of the year...
1
Just signed up quickly to leave a comment;
I've been looking at HodlBot for a while being a "normal" index investor (VTSAX), I'd love to jump on board, but my issue lies with the reliance on Binance.
Is there any way to spread the risk off Binance?
Have you thought of keeping the coins off Binance and sending them in only when trying to re-balance the portfolio (Note; I haven’t looked into withdrawl limits/fees). Essentially pivoting HodlBot into not just something that interfaces with API keys on your behalf, but a piece of software licensed out to users that acts as both the current API mediator between Binance but also a wallet on the local machine?
What about interfacing with other exchanges with arguably more oversight purely thanks to legal jurisdiction, like Coinbase? Or even a great many of them, leveraging both the spread of risk, but also arbitrage between exchanges?
1
Congrats on the success, and very nicely written.
Key highlight:
Once you’ve earned people’s attention, you can talk about your project.
You almost always have to add value before people will pay attention.
1
Thank you for sharing your journey. Its inspiring and motivating for the rest of us to see fellow entrepreneurs succeeding in their ventures. Keeps us all posted...
My concern with such a bot is dealing with taxes at the end of the year...
Just signed up quickly to leave a comment;
I've been looking at HodlBot for a while being a "normal" index investor (VTSAX), I'd love to jump on board, but my issue lies with the reliance on Binance.
Is there any way to spread the risk off Binance?
Have you thought of keeping the coins off Binance and sending them in only when trying to re-balance the portfolio (Note; I haven’t looked into withdrawl limits/fees). Essentially pivoting HodlBot into not just something that interfaces with API keys on your behalf, but a piece of software licensed out to users that acts as both the current API mediator between Binance but also a wallet on the local machine?
What about interfacing with other exchanges with arguably more oversight purely thanks to legal jurisdiction, like Coinbase? Or even a great many of them, leveraging both the spread of risk, but also arbitrage between exchanges?
Congrats on the success, and very nicely written.
Key highlight:
You almost always have to add value before people will pay attention.
Thank you for sharing your journey. Its inspiring and motivating for the rest of us to see fellow entrepreneurs succeeding in their ventures. Keeps us all posted...