June 18, 2024

Switch to Hodl Hodl: How to switch from another exchange

Hodl Hodl continues a series of educational posts dedicated to traders who trade on other P2Pvenues but are familiar or not very familiar with Hodl Hodl.

This “Go to Hodl Hodl” series explains how to upgrade to Hodl Hodl from another P2P exchange.

Step one

... trivial, it doesn’t exist, all you needneed to do — go. Hodl Hodl is a peer-to-peer exchange, with functionality similar to other P2P exchanges. Moreover, we are trying to remove transition barriers for our users.

To switch to Hodl Hodl, you only need an account, you can trade as soon as it is.

For those who still have questions after reading this series of articles, we would like to summarize and emphasize the following:

Account Registrationfree, registration takes 30 seconds. Immediately after registration, anyone can create offers and conduct contracts:

  • Hodl Hodl does not carry out KYC / AML procedures, therefore you do not need to go through verification;
  • Hodl Hodl does not store funds, so you do not need to send us your cryptocurrency in advance in order to create an offer or hold a contract.

Creation of an offerfree, no need to send a deposit or go through verification, anyone can create an offer and start trading.

Contractsdo not differ significantly from contracts on otherplatforms: The biggest difference is that we do not store funds, in each contract the seller sends bitcoins to escrow directly from his wallet and the buyer receives bitcoins from escrow directly to his wallet.

Everything else remains the same: the seller blocks the bitcoins, the buyer pays the seller and the seller displays the bitcoins to the buyer.

Disputesare resolved by Hodl Hodl employees, and the process is not much different from other platforms.

We take full responsibility for solving problems, after which, the party in whose direction the dispute is being decided can return (receive) blocked bitcoins.

Add informationfrom other exchanges it is partially possible: you can already link your profile on Localbitcoins and Paxful to your profile on Hodl Hodl in order to share your existing reputation with our clients (and receive a reducedexchange commission 0% per month)

In the near future we plan to addadditional functions, such as copying existing offers, reputation transfer and other additional functions that are on other platforms, but not with us.

Payment Methodsand the currencies you can use for trading are unlimited due to the nature of our exchange: you trade with other people, not us.

If you want to offer a new payment method, see the previous post in this series.

Moreover, we have no prohibitions on payment methods (some platforms have limitations) and you can also trade for cash through us.

Global availabilityOne of our advantages is that the only country in which we do not operate is the US.

With us you can trade and exchange bitcoins for fiat or cryptocurrency around the world.

BitNovosti.com publishes this press release “as is” and the information provided cannot be regarded as investment advice from the editorial board. The reader conducts an independent analysis and makes a decision at his own risk.