Hodl Hodl

Sep 1, 2024

Hodl Hodl is a decentralized Bitcoin exchange that prioritizes user control and security. Unlike traditional exchanges, it operates on a peer-to-peer model, allowing direct trades between users. With its multi-signature escrow system, Hodl Hodl ensures the safety of funds during transactions. The platform also supports various payment methods and offers trading options such as contracts for difference (CFDs).

https://hodlhodl.com/pages/faq_help

Start your journey on Hodl Hodl

HodlHodl is a peer-to-peer (P2P) cryptocurrency exchange, which exclusively supports one digital currency but offers the flexibility to trade in any currency, encompassing all fiat currencies and altcoins. A significant aspect of this P2P platform is that it doesn't impose any deposit or withdrawal fees, instead, it levies trading fees ranging from 0.5% to 0.6%, depending on user verification status. Users have the advantage of a broad spectrum of payment methods, making HodlHodl one of the most versatile P2P platforms. Some of the commonly used payment methods include SWIFT, SEPA, bank transfers, credit card transactions, PayPal, Venmo, MoneyGram, and Western Union. However, the available payment options are dependent on seller acceptance.

One of the salient features of HodlHodl is the variable trading limits, which can be progressively relaxed with increased trading volume and successful trades. The minimum BTC trading amount is set at 0.001 BTC, and the lowest loan offer should not be less than 50 USD in crypto value. The platform does not necessitate any Know Your Customer (KYC) or Anti-Money Laundering (AML) procedures in compliance with its policy of maintaining user anonymity. However, users who opt for verification can enjoy benefits like reduced commissions, increased transaction limits, and a visible "Verified" status. HodlHodl has an extensive global reach, accommodating users from nearly all countries with a few exceptions like North Korea, Iraq, Syria, and Sudan.

Account Creation

To carve out your own account, simply click 'Register', located in the right corner on the platform's homepage. As expected, you'll be required to input an email address, choose a username, and establish a payment password. Furthermore, the platform prompts you to define your local timezone as this helps to streamline your operational hours and eases the transaction process.

Customize Your Profile

Upon successful account registration, your next move would be to furnish your profile with some necessary details.

Your profile customization should encompass:

Personal Info – This includes your chosen username, email, and a brief bio.
Two-Factor Authentication (2FA) – Enabling 2FA enhances the security of your profile, which is always a prudent move.
API Access – This is not mandatory and remains inactive by default.
Past P2P Profiles – If you've interacted with other P2P platforms previously, linking this information can increase your credibility among other traders.

Register Your BTC Address

In order to commence BTC trading, you'll need to provide your BTC address first. This can be entered within the "Trading Settings" menu. After logging your address, you can proceed to "Buy BTC" or "Sell BTC" to kick off your trading journey.

Step by step toward your first trade

Guide by Bitcoiner Q&A https://bitcoiner.guide/hodlhodl/

Visit hodlhodl.com and create your account. The only details you need to provide is a username and email address. You will then be met with the home page.

Click ‘Buy BTC’ in the website header.

Select your desired payment type and method. You can also specify a specific amount here if necessary.

Select your desired offer. You can then review the trade details and also read the peer’s activity reports and ratings.

Once you are happy, you can specify how much you want to buy, enter in the address you would like the bitcoin sent to and specify confirm the payment method advertised by the seller. Click ‘Accept offer and create contract’.

You now have your contract created and need to hit ‘Generate Escrow’ where you will be prompted to create a payment password. The payment password is an encryption key for the user’s escrow key pair. It is used in order to deposit or release Bitcoin to or from escrow.

Now you need to wait for the seller to deposit their bitcoin into the escrow wallet. After starting the contract you can chat with the seller using the chat box on the right side of the page.

Once the seller has deposited their funds to the escrow you will see this screen advising you not to send your money until there has been sufficient number of blockchain confirmations (this varies depending on the trade conditions). You can check on the progress of the sellers deposit transaction by clicking on the blue link ‘Deposit Transaction ID’.

Once confirmed you will be notified and you can then send the funds to the seller to the details they will provide you. Once you have done this click ‘Ive Sent The Payment’.

You will then need to wait for the seller to confirm they have received the funds, at which point the bitcoin will be released into the address you specified at the start of the contract. You will also be given the opportunity to rate your peer.

Congrats, you just bought yourself some non-KYC bitcoin!

Two final tips:

Hodl Hodl is web based so I would always advise accessing via the Tor browser to protect your privacy.
If you are a Telegram user, make sure you link your profile with the Hodl Hodl bot. That way you will receive live updates on each trade allowing you to take quick action.

lend option

This guide will help you take your first steps to using the Lend at Hodl Hodl platform.

Here is the source: https://medium.com/hodl-hodl/quick-guide-to-lend-or-borrow-on-lend-at-hodl-hodl-5a535d526217

Lend at Hodl Hodl (lend.hodlhodl.com) is a platform designed so that users from all around the world can lend or borrow between themselves without having to trust a third party or complete a verification procedure.

LEND allows you to lend or borrow different stablecoins or cryptocurrency using BTC as collateral. (At the moment, it is not possible to lend BTC, although that possibility is being developed for the future).

Once you have registered on the platform with just your nickname and an email, you will be ready to start lending or borrowing.

First, we are going to search among the existing offers for one that suits our needs. (Always bear in mind that you can publish your own offer if no existing offers satisfy you).

Further down the main page we find the search box:

The search tool shows us the offers to borrow by default.

If we want to lend we must select the corresponding button.

We enter the amount we want to borrow and the cryptocurrency we are looking for.

The LTV ratio refers to the percentage of cryptocurrency that we will receive based on the value in BTC that we place as collateral. The higher the LTV, the higher the amount we borrow relative to the value in BTC that we deposit as collateral, but the possibility that our collateral (BTC) will be liquidated is also greater if its price drops. If we choose a low LTV, the amount we borrow relative to the value in BTC that we deposit as collateral will also be low, and there is less chance that our collateral (BTC) will be liquidated in the event of a decline in its price.

Finally we choose the term of the loan that we are willing to take. That is, for how long the lender will give us the requested amount, and a final return date will be established. The credit can be fully returned on the day the term expires or through partial payments throughout the entire contract period.

By clicking the “Find offers” button, the platform will return all offers that match our search criteria, and we will be able to choose the one that best suits us.

Suppose we choose the following offer:

The user “NateN-09” offers to lend between 100 and 500 USDT sent by the Liquid network for a period of 1 week, at a rate of 0.50% (bear in mind that the rate applies to the entire contract term).

In the APR section (Annual Percentage Rate) you can see how much the proposed rate corresponds to an annual extension, just as a reference for comparison with other financial services.

The percentage relationship (LTV) between the value of the collateral and the amount that the lender will give us is set to 70%, therefore we must place 30% more BTC value as collateral to back the loan. In other words, he/she lends us the 70% in stablecoins (or cryptocurrency) of the value in BTC that we lock as collateral. This is called an over-collateralized loan.

Once we enter the offer, we will see the details as follows:

If the offer seems appropriate and we decide to take it, we complete the pending fields and confirm with the “ACCEPT AND CREATE” button.

Please note the following points, regarding the left part of the image above:

In this case, the amount offered goes from 100 to 500 USDT over the Liquid network, so we input the amount that we need in the corresponding field.
The period of the loan in this offer is fixed to 1 week.
In the field “Cryptocurrency payment address” we enter the one where we want to receive the cryptocurrency we are borrowing.
In the field “Bitcoin refund address” we put the one where we want to receive our BTC back once we have returned the loan.

In the green frame on the right we can see the details of the contract including the origination fee charged by the platform for providing the technical tools to carry out the contract.

Once the contract is accepted, a multi-signature escrow address is created where we must deposit the BTC amount due in order to support the contract.

To generate this address in the Bitcoin blockchain, we will be asked for a “Payment Password” (different from the login one) that will act as our private key to recover our BTC at the end of the contract.

When we have sent the BTC to the escrow address and it has been confirmed, the borrower will be able to send the requested cryptocurrency to the address that we entered in the previous step.

Once we have received them, we will confirm the link to the ID of the payment transaction that the borrower has sent us, and the contract will be active.

We must be careful that the LTV does not rise too much during the contract period so that our collateral is not liquidated. But don’t worry, the platform will send us an email and a notification every time the LTV moves towards risk margins.

We can make partial payments to return the loan or we can do it all together at the end of the term.

Once the entire loan plus interest is returned and the payments are confirmed, we will be able to withdraw our BTC from the multi-signature escrow address and the contract is finished.

In a future article we will describe the steps to follow if we act as lenders.

If you have any doubts regarding the procedure, do not hesitate to contact us through any of our support channels.

Reach us

Hodl Hodl trading platform: hodlhodl.com
Lend at Hodl Hodl: lend.hodlhodl.com
Predictions by Hodl Hodl: predictions.hodlhodl.com
E-mail: [email protected]
Blog: hodlhodl.medium.com
Twitter: twitter.com/hodlhodl
Telegram: t.me/HodlHodl
Reddit: hodlhodl.reddit.com
Facebook: facebook.com/HHodl
Youtube: youtube.com/c/HodlHodl

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Original source:https://bitcoiner.guide/hodlhodl/

Author

This tutorial has been written by Bitcoin Q&A

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Bitcoin Q&A

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My name is QnA. I am a Bitcoiner and I like to help other Bitcoiners. I spend my days building Bitcoin-centric sovereignty tools at Foundation. This site is a collection of my contributions that I can point people towards to help them along their journey. If you find it valuable, please share it with your peers and consider contributing or sending a tip.

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This tutorial has been proofread by Asi0Flammeus

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