Hodl Hodl: Bitcoin Trading Platform

Description

Hodl Hodl is a global peer-to-peer bitcoin trading platform. It is a non-custodial non-KYC solution to stack sats without involving a third party. Hodl Hodl uses a multisig escrow system to secure transactions and a built-in dispute resolution system to protect both parties of the trade. It also allows users to set their terms for each trade, such as payment method, currency, and trading window. Furthermore, it supports the lightning Network.

The platform does not hold users’ funds; they are stored in their bitcoin wallets. It supports any fiat currency in the world and has more than 100 payment methods, including bank transfers, SEPA transfers, SWIFT transfers, and credit cards. If the payment method is missing, it is possible to contact the service and propose to add it. After verification, it might be added to the list. The system also allows its customers to learn trading without the risk of losing their money. It uses the TESTNET platform for this.

How to Start Using Hodl Hodl

• Register an account by clicking the “Sign Up” button on the official website.
• Enter your email address and create a secure password. No KYC verification is required.
• Verify your email address via the link sent by Hodl Hodl.

Buying and Selling Bitcoin Process

Hodl Hodl does not have access to the private keys of users. All the transactions on the platform are held between a buyer and a seller and are secured by multi-signature escrow. This means that when the bitcoin purchase process is initiated, the service generates a unique multisig escrow bitcoin address. The seller sends bitcoin to this address. When the buyer sends payment in fiat, bitcoin is released from escrow and sent to the buyer’s wallet.

Dispute Resolution System

If either party does not agree to the contract terms, then Hodl Hodl can act as the third party to resolve the dispute. This can be done through arbitration or mediation. The Hodl Hodl team will use their experience and expertise to assess the situation and provide a fair resolution. This way, the funds stored in the escrow address remain secure and protected.

Limits

The limits are determined by a user’s total trading volume and the number of successful trades. The higher the total trading volume and the number of successful trades, the higher the limit. There are three levels of limits overall in the account. To move from the first to the second level, you need to have 10 completed contracts with 5 different users; for the third level – 50 completed contracts and 0.5 BTC reached.

Fees

The fees depend on the transaction size and type. Generally, fees range from 0.2%-0.4% for small trades and can go up to 1%-2% for large trades. The seller sends the funds to escrow plus his fee; the buyer receives the amount minus his part of the fee. The trading fee is equally split between the buyer and seller. It is paid only in bitcoin when a trade is successfully settled.

More Information

• Hodl Hodl updates
• Hodl Hodl on YouTube
• Hodl Hodl API documentation