Would you pay for a Telegram bot that balances your crypto portfolio?
My partner and I are currently discussing a Telegram Bot that keeps your crypto portfolio balanced https://www.producthunt.com/upcoming/colin
The bot would connect to the API of your exchange (Binance?) and present you with some options based on your preferred risk strategy. It would then show you the potential trades to balance your portfolio, and if you’re happy - execute those trades.
Each week/month the bot would let you know how your investments are doing and offer to rebalance the portfolio, with the aim of keeping your portfolio diversified and saving you time.
We'd love to know if this idea is something you'd be interested in and if you'd pay for it, how much you'd be willing to pay for a subscription.
Hi Danielle,
Love the name of the bot! 😅
However, it would take some seriously strong arguments and proof of the system working and showing successful results. i.e - Case Studies.
Otherwise, I'm afraid it would be a no-go for me.
There are a number of bots like this already that are generating significant revenue. I don't say this to discourage but rather to ENCOURAGE! It's great validation that there exists a market for this type of bot.
there is such a bot here, as an indie business with paying clients, so yes, is a valid business.
My two cents..
Firstly, no one in their right mind should hold their portfolio on an exchange, especially on Binance. So by telling your future customers to do so puts them at a huge risk at losing all their funds if their account or Binance itself would get hacked.
Secondly, diversification with different cryptocurrencies is a bad idea from the get-go since they are all extremely highly correlated to the price of bitcoin. And frequently rebalancing the different holdings would only bring a massive headache and cost when all those trades have to be declared and taxed on.