This week as people hear about the peer-to-peer exchange Localbitcoins requiring identification for traders who deal in “significant” trade volumes, many of them are scouring the internet in search of decentralized exchanges that don’t require Know-Your-Customer (KYC) verification. One such trading platform called ‘Hodl Hodl’ launched its beta version this past February allowing traders to swap cryptocurrencies without the need for regulatory compliance protocols.
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The Peer-to-Peer Multi-Sig Escrow Exchange ‘Hodl Hodl’ Doesn’t Require KYC Verification
There’s a new peer-to-peer cryptocurrency exchange called ‘Hodl Hodl,’ a platform that launched this past February, allowing traders to trade digital assets without the need for a third party. The trading platform creates a multi-signature escrow system that sets a predetermined trading time for both participants. At the moment Hodl Hodl is in its beta form and only has two cryptocurrencies available for trade at the moment which include BTC, and LTC. The creators of the exchange state more features will be launched when the platform comes out of beta in the summer of 2018.
Hodl Hodl is very similar to Localbitcoins and the platform Bitquick as it allows deals between buyers and sellers. The trading platform does not require users to verify their identities. Moreover, there are many options available for payments such as Moneygram, Skrill, various credit cards, Venmo, Western Union, Alipay, and many more. In order to sell BTC or LTC, a user simply fills out the trade requirements which include location, the amount they want to sell, a payment window, and the payment type. On the buyer side, users choose which cryptocurrency trades and the specific requirements look enticing to them. For instance, certain payment options for purchasing BTC
