Many people are searching for decentralized exchange that does not require Know-Your-Customer (KYC) verification, as people receive news concerning peer-to-peer exchange local bitcoins requiring identification for traders this week.
This past February one such trading platform known as “Hodl Hodl” establish its Beta version permitting virtual currency players to exchange virtual currencies in the absence of regulatory compliance protocols.
KYC Verification does not require the Peer-to-peer Multi-sig Escrow Exchange “Hodl Hodl”
In this past February, there is a new peer-to-peer digital currency exchange known as “Hodl Hodl”, a platform which is established to permit users to trade virtual assets in the absence of a third party. A multi-signature escrow system is formed by the trading platform that provides a predetermined trading time for each user. Currently, the trading platform Hodl Hodl is in its beta version and just provides for two digital currency namely BTC and LTC. When the platform graduates from beta in the summer of 2018, the founders of the trading platform claim that more tools will be established.
Hodl Hodl resembles trading platforms like Bitquick that permits the trading between buyers and sellers, as well as similar to local bitcoins. The verification of users identity is not required by this new trading platform.
In addition to the above, there are other alternative payment methods provided such as Alipay, Western Union, Venmo, various credit cards, skrill and money gram to name a few. Users basically complete the trade requirements which consist of the payment type, location, the amount they want to sell and a payment window, in order to sell BTC or LTC respectively. Traders make decisions on which virtual currency trades and the precise requirements that they find desireable, on the buyer side.
To illustrate the above, some payment methods for buying BTC on Hodl Hodl are more than other payment methods provided. Other payment methods remain a couple of hundred dollars higher than the current spot price, in which credit card purchases reveal a worth of over $9000 per BTC.
Right now up to the beginning of July 2018, the exchange is waiving fees for Users
Users can play around with the Hodl Hodl testnet exchange first because the trading platform remains in Beta form. The exchange will charge nothing more than 0.6 percent per trade when the peer-to-peer platform comes out of beta. Nevertheless, currently, still, the commence of July 2018 the trading platform is waiving charges for clients as reported by Newsbitcoin.com. They simply offer users with “secure multi-signature (P2SH) contracts, and you control the key to the funds in escrow” argue Hodl Hodl and they further emphasize that they do not hold funds.