It has become more and more difficult to easily buy and sell bitcoin without completely giving up on privacy. Even good old LocalBitcoins has suspended ads for cash trades and only allows very limited trades for unverified accounts.
Luckily, there’s still one site out there that hasn’t given in to increasing pressure to collect personal data from its users: Hodl Hodl
Hodl Hodl is a global peer to peer trading platform that doesn’t hold funds and doesn’t require you to jump through all those KYC (Know Your Customers) hoops that most platforms require these days.
How does Hodl Hodl work?
Hodl Hodl is a global P2P Bitcoin trading platform that allows users to trade directly with each other and it doesn’t hold user funds – locking it in multisig escrow instead – which minimizes the possibilities of Bitcoin theft and reduces trading time. Because Hodl Hodl does not hold any money (neither Bitcoin nor fiat) it is not subject to complex compliance procedures.
All trades occur directly between buyers and sellers, and without a middleman involved. Each time a contract is created between two parties, Hodl Hodl trading platform generates a multisig escrow Bitcoin address. The seller sends Bitcoin from his wallet to this account, and when the Bitcoin is locked in escrow, the buyer sends fiat to the seller. The seller then releases the locked Bitcoin from escrow using his payment password, and the buyer receives them into his wallet.
Advantages of trading on Hodl Hodl:
- Safety – Hodl Hodl doesn’t hold users’ funds as other trading platforms do.
- No KYC/AML – because, again, Hodl Hodl doesn’t hold users’ funds.
- Speed – all trades happen directly between users’ wallets.
- Before you trade real Bitcoin, feel free to learn using TESTNET
How to get started
- Sign up with an e-mail and password
- Click on the confirmation link you will receive in your e-mail
- That’s all! You’re good to go.
There’s no need to download or install anything. All trades on Hodl Hodl trading platform are happening directly between users’ Bitcoin wallets. So to use Hodl Hodl, you only need to have a Bitcoin wallet. You can choose which wallet you use. Everything else happens on the website.
Now you should be ready for your first trade on Hodl Hodl. You can find us as MekongMonke, or just look for the monkey profile picture! We offer various buy and sell offers, check out our profile page for the latest details or you directly go here to buy bitcoin with cash in Phnom Penh. Alternatively, head here to sell bitcoin for cash USD.
If you need help or can’t find what you’re looking for, you can always contact us for assistance. Happy trading!
Hodl Hodl – the global P2P Bitcoin trading platform that doesn’t hold funds
Featured picture by:Mark
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