Hodl Hodl is a p2p exchange for buying or selling Bitcoin directly from person to person anywhere in the world. It offers low fees and uses a multisig escrow address to ensure security and reduce transaction times.
Official site: hodlhodl.com
The platform does not store user funds and does not require the disclosure of confidential data, passing the KYC / AML check. Payment for a purchase can be carried out in any convenient way – using fiat money or a wide range of cryptocurrencies. At the moment, only Bitcoin can be bought and sold (previously Litecoin was also supported, but it was decided to abandon it due to lack of demand).
The main features of HodlHodl among other p2p exchangers:
✅ Multisig escrow addresses, independent control of keys to funds.
✅ Work with all world currencies and popular payment systems.
✅ Optional verification.
✅ Low commissions (up to 0.6% of the transaction amount).
✅ There is a test platform https://hhtestnet.com/ where you can try trading in test mode.
✅ Multilingual interface.
✅ Carrying out OTC for clients with large volumes.
Recommended to see: List of the best cryptocurrency exchanges to trade.
|Services||p2p exchange for bitcoin exchange; OTC platform|
|Year of foundation||2016|
|Country of registration||Great Britain|
|Registration address||Suite 122 Ground Floor Creedwell House, Taunton|
|The name of the company||Hodlex Ltd.|
|Russian language support||Yes|
|Working with fiat money||Yes|
|Fiat currencies||All world|
|Payment options||Cryptocurrencies, banks of many countries of the world, payment systems, cash|
|Transaction fees||The standard commission for a registered user is 0.6%. For a user who has registered using a referral link – 0.55%. For verified user – 0.55%|
|Trade volume limit||Depends on the user level. For unverified people – from 1 to 20 BTC. For verified ones – from 8 to 30 BTC. The minimum limit is 0.001 BTC.|
|KYC / AML verification||Not required. Expands the limits of transactions, reduces the commission, gives the Verified status visible to everyone.|
|Safety||Email confirmation, two-factor authentication, multisig escrow requiring two keys. Funds are not held by the exchange.|
|Contactsfirstname.lastname@example.org, https://t.me/hodlhodlrussian, https://twitter.com/hodlhodlrussian, https://vk.com/HHodl|
|Similar trading platforms||LocalBitcoins, Cryptolocator, Bitzlato, LocalCryptos, Bitpapa, PaxFul|
An account on HodlHodl is created by clicking the “Register” button in the header of the hodlhodl.com website.
The registration form requires the following actions:
✅ enter your email address;
✅ enter any nickname that does not yet exist on the site;
✅ specify the time zone in which the user is located;
✅ come up with and confirm a password;
✅ confirm that the user is not a resident or citizen of the United States;
✅ solve the captcha.
People who came by invitation need to indicate a referral code, this will help to slightly reduce commissions.
Then you need to click “Register”.
An e-mail will be sent with an activation link. After clicking on it, the user will be taken to his profile.
Profile and its editing
You can immediately edit the HodlHodl profile with the necessary information. To do this, just click the corresponding button in your account.
At the top of the edit page, there are tabs to navigate between sections. What they include:
✅ Profile. Here you can change your nickname and email, add a website and brief information about yourself, upload a photo. You can also check the “Only checked devices” checkbox so that the input is available only from a certain list of devices, for example, a computer and a phone. Changes must be confirmed with a password from your account.
✅ Two-factor authentication. A page for connecting 2FA using the Google Authenticator app or similar. To activate, you need to download the application, click on the website “Generate 2fa code” and follow the instructions.
✅ API Access. Working with API for developers. By default, this feature is disabled, you need to click Enabled API Access to enable it.
✅ Change Password. The page for changing the password for the account.
✅ P2p profiles. If the account owner has work profiles on Paxful or Local Bitcoins, he can transfer reputation information from there to increase the trust of other users.
✅ Notifications. Here you can configure which messages will be sent to e-mail and on the website (changes in the level of limits and contract status, payment methods, messages).
Buying and selling BTC
To use the HodlHodl trading platform, you only need to have a Bitcoin wallet. There is no need to download anything, all transactions are carried out through the site. Bitcoin address and commission are set in the “Trading settings” section.
The section “Control Panel” contains the current trading commission, a list of active offers, limits, reviews of other traders and notifications.
There are two main terms used in trading – offer and contract. An offer is an advertisement posted by a user, which can be responded to by other participants in the system. The contract is the response to the offer, the consent to the transaction under the specified conditions.
To respond to the offer, you need to click “Sell BTC” or “Buy BTC” in the header of the site. By default, offers with the currency of the country of residence will be displayed, but you can change this in the filters.
The offer is selected according to the data from the presented table:
✅ Bitcoin rate, which does not depend on the actual market rate and is set directly by the seller;
✅ payment methods that suit the seller;
✅ trader rating;
✅ if the trader has verification (in the last column then a green shield with a check mark is displayed).
After choosing a suitable offer, you need to click on it. A page will open with more detailed information about the offer and the trader.
You must indicate the amount you want to buy and the address where the funds will be transferred. It is better to specify the address in advance in the trade settings, then it will appear automatically. If you specify a new address in this window, then it will be used only for this transaction.
Choose a payment method from the available ones. Optionally, you can write a comment or a greeting to the seller. Then click “Accept the offer and create a contract”. An unlimited number of contracts can be created at the same time.
✅ At the initial stage, either party can still terminate the deal if it was entered into by mistake. The seller has not yet sent funds to escrow.
✅ The seller sends the cryptocurrency to the escrow; at this stage, only he can cancel the contract.
✅ Cryptocurrency is blocked in escrow; at this stage, only the buyer can cancel the contract.
✅ The buyer sends the payment to the seller. You cannot cancel the deal at this stage.
✅ The seller “releases” the cryptocurrency from the escrow, it goes to the address specified by the buyer.
If in the process there are problems or misunderstandings, then a dispute opens. Moderators solve the problem while funds remain locked in escrow. Decisions made as a result of a dispute are not subject to appeal.
You can use crypto exchangers to buy or sell cryptocurrencies.
Create an ad
The user can create his own offer so that others will respond to it if they have not found suitable offers among the existing ones. To do this, you need to click the “Add offer” button on the trade offers page.
To create an ad, you must specify:
✅ Bitcoins are sold or bought;
✅ country (optionally also a region or city);
✅ minimum and maximum transaction limits;
✅ optionally – the balance of the offer, after which the offer will become inactive;
✅ the maximum limit of the first contract (can be set to limit the amount of the transaction with a user with whom there has not yet been interactions);
✅ the number of Bitcoin transaction confirmations – from 1 to 6;
✅ working hours outside of which the offer will be inactive;
✅ convenient payment methods;
✅ title, description.
You can also check the “Private” checkbox. This means that only those who have a link to it will be able to create a contract for this offer. And it will not be displayed in the general list.
There is an affiliate program on the HodlHodl p2p exchange that allows you to make money by attracting new users. The invitation is carried out using a referral link. To find it, just click on the “Affiliate Program” button in the drop-down menu next to the avatar.
When people follow the link, register and start trading, the referrer receives a percentage of the commission from each of their successfully completed contracts. The reward is paid immediately and transferred to the cryptocurrency wallet specified in the trading settings.
It is important to know: if the wallet is not specified in the settings, then the bonus will not be received.
You can view your statistics and the amounts earned on the same page where the referral link is located. Every referral ever registered remains that way forever and continues to make a profit. The referral himself, in turn, receives a trading commission reduced to 0.55%.
We recommend: Affiliate programs on cryptocurrency exchanges.
Advantages and disadvantages
✅ Optional verification.
✅ Low fees.
✅ There is testnet (you need to create a separate account).
✅ High level of security, the exchanger does not store any cryptocurrency.
✅ Multilingual interface, detailed help in Russian.
✅ Referral program.
❌ You can only trade BTC, and so far there are no plans to introduce new cryptocurrencies.
P2p-exchanger HodlHodl is convenient in that you do not need to necessarily confirm your identity by disclosing confidential information. Newbies who are afraid to immediately use real money can create an account on the testnet and try out the platform’s functionality.