Hodl Hodl’s official statement for cash traders

Hodl Hodl
Hodl Hodl
Jun 3 · 3 min read

Localbitcoins has recently deleted the payment method “Cash” from the platform, so we would like to invite all cash traders to hodlhodl.com.

We’re open to cash traders

With us, you can:

  1. Trade for cash

We call this payment method “In person”, you can create & accept existing offers right away.

2. Use our exchange without KYC/AML

Anyone can use Hodl Hodl without passing verification, and no restrictions will be applied to your account — it has always been this way, and we do not plan to add KYC/AML procedures.

Every user that registers with the referral code “CASH” before July, will permanently receive the discounted exchange fee of 0.55%.

Cash offers

After Localbitcoins deleted the payment method “Cash”, we’ve seen the number of offers with the payment method “In person” grow quickly — this is also the reason why we’d like to invite all cash traders to our platform.

To see all available offers for cash, go to the offers page & filter the list by the payment method “In person”.

About Hodl Hodl

Hodl Hodl is a global P2P Bitcoin exchange, that allows users to trade directly with each other and it doesn’t hold user’s funds — locking it in multisig escrow instead.

The main difference between Hodl Hodl and other P2P Bitcoin exchanges is that we do not hold user’s funds and do not have KYC/AML procedures. Hodl Hodl is also cheaper than most of the other P2P exchanges, with a maximum fee of 0.6% per trade.

Trade workflow

Trading at Hodl Hodl is simple, and here we explain the trading process:

  1. Contract is created, Hodl Hodl generates unique multisig escrow for it.
  2. Seller deposits Bitcoin in escrow directly from his wallet.
  3. Buyer pays seller according to the agreed upon payment method.
  4. Seller releases Bitcoin from the multisig escrow directly to the buyers wallet.

That’s all for the trading process, P2P trading has never been as fast and secure.

Exchange fee

Hodl Hodl is cheaper than most P2P exchanges, with a maximum 0.6% exchange fee per trade.

  • 0.6% fee is applied for every registered user
  • 0.55% fee is applied for every user that registered with a referral code
  • 0.5% fee is applied for every user that passed verification (we repeat, this is not required)

Exchange fee is deducted upon release from the escrow to buyer (only if the contract was completed).

Both buyer and seller pay the fee in equal shares, it’s divided equally between them. Buyer pays his part of the fee in Bitcoin (by receiving less from escrow), and seller pays his part of the fee in fiat, or crypto if a non-fiat payment method is chosen (by receiving less from the buyer). More information about fees can be found in the FAQ section.

Transaction fees for sending to escrow is always covered by the seller. Transaction fees for sending from escrow is always covered by the side receiving funds — buyer if contract was completed successfully, seller if contract was cancelled and he refunds.

Support of the Lightning Network

We have recently announced public testing of Lightning powered trades at testnet.hodlhodl.com, and this week we plan to launch trades on the Lightning Network on the MAINNET version of our exchange.

Become one of the first who traded Bitcoin for cash on the Lightning Network at Hodl Hodl!

Reach us

Hodl!

Hodl Hodl

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Hodl Hodl

P2P cryptocurrency exchange that doesn’t hold funds

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