Threenvest > Decentralized exchange reviews

Hodl Hodl Review 2024

Our veredict

Hodl Hodl is a peer-to-peer (P2P) Bitcoin exchange that offers a secure and efficient platform for buying, selling, and lending Bitcoin directly between users without intermediaries. Its standout feature is the use of multisig escrow accounts, which ensure that trades are conducted safely and that funds are released only when both parties fulfill their contractual obligations. The platform is non-custodial, meaning it does not hold users’ funds, reducing the risk of theft or loss due to platform vulnerabilities. Hodl Hodl is praised for its wide range of payment methods, easy registration process, and lack of complex verification requirements, making it accessible and convenient for users worldwide.

However, Hodl Hodl has some drawbacks. It does not support users from the United States, which limits its reach. Additionally, the platform only facilitates Bitcoin transactions, which may not appeal to traders looking to exchange other cryptocurrencies. While it offers a high level of security through its escrow system and two-factor authentication, it is not regulated, which might be a concern for users who prioritize regulatory oversight. Despite these limitations, Hodl Hodl remains a robust choice for those seeking a decentralized and secure P2P trading environment.

Pros

Non-Custodial Platform Security Hodl Hodl operates as a non-custodial exchange, meaning it does not hold user funds, thereby reducing the risk of theft or loss due to platform vulnerabilities.
Wide Range of Payment Methods The platform supports over 100 different payment methods, including bank transfers, PayPal, and various cryptocurrencies, providing users with flexible and convenient options.
Global Access and Availability Hodl Hodl is available to users worldwide (except in the United States), allowing for a broad user base and diverse trading opportunities.

Cons

Threenvest Score

Network

Bitcoin

Fees

Variable

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Why choose Hodl Hodl?

Choosing Hodl Hodl as your cryptocurrency exchange offers several strong advantages. Firstly, the platform’s non-custodial nature ensures that your funds are never held by the exchange, significantly reducing the risk of theft or loss due to hacking. This security measure is reinforced by their use of multisig escrow accounts, which require both parties to confirm transactions before funds are released.

Additionally, Hodl Hodl provides a high level of flexibility and convenience with its wide range of supported payment methods. Users can choose from over 100 different payment options, including popular methods like bank transfers, PayPal, and various cryptocurrencies, making it easy to find a payment method that suits your needs. The platform’s straightforward registration process, which does not require complex KYC verification, allows for quick and easy account setup, making it accessible even for beginners.

Furthermore, Hodl Hodl’s competitive transaction fees, ranging from 0.5% to 0.6%, are among the lowest in the industry. This, combined with its transparent fee structure and the ability to reduce fees through verification or referrals, makes trading cost-effective. The platform also offers a peer-to-peer lending service, where users can borrow against Bitcoin collateral, adding another layer of utility and flexibility for those looking to leverage their assets.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I can confidently recommend Hodl Hodl for peer-to-peer Bitcoin trading. The platform’s non-custodial nature ensures that your funds are never held by the exchange, significantly reducing security risks. With its wide range of payment methods and competitive fees, Hodl Hodl offers a flexible and cost-effective trading environment. Additionally, the multisig escrow system provides a high level of security, making it a reliable choice for both buying and selling Bitcoin.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.