In a world where even services like Local Bitcoins and Shapeshift have capitulated to governments and regulators by collecting KYC/AML data from their users, HodlHodl is here to defy the trend. Generally speaking, as cryptocurrency adoption increases, the laws tend to get stricter and an increasing number of companies turn into custodians of both coins and personal information.
As Max Keidun and Roman Snitko reveal in this exclusive Crypto Insider interview, there are two reasons why this won’t be the case with HodlHodl: first of all, the service doesn’t hold any bitcoins and only charges a small fee while empowering users to make quick BTC to fiat or Shapeshift-esque BTC to altcoins swaps; secondly, the company is based in the Marshall Islands, which just happens to be a very cryptocurrency-friendly jurisdiction.
These two design strengths fuel both an ideological predisposition to enable a truly free market for bitcoins, and the need to be compliant with the laws of the land. HodlHodl combines these features into a service that is essential for privacy, in a world that otherwise looks more Orwellian by the day.
On the official website, HodlHodl is defined as a peer-to-peer cryptocurrency exchange that doesn’t keep any funds. In more simple terms, it’s everything that Local Bitcoins should have been from the very beginning. Otherwise, it allows users to make searches by country and find other enthusiasts willing to buy or sell BTC. The most popular mean of transaction appears to be the credit card (which is terrible for privacy, but at least only reveals the fiat amounts being traded at one time), but there is also the option to get engaged in Shapeshift-like bitcoin to altcoins exchanges.
Furthermore, HodlHodl has native support for Litecoin – though, as you’re about to find out from the interview, the most important point of focus is the invention of Satoshi Nakamoto (as opposed to Satoshi Lite‘s). And if you’re feeling a little confused about the way in which the service works, you may safely experiment with a Testnet before sending any funds.
By default, HodlHodl charges a 0.6% flat fee for every trade. However, if you sign up with the Crypto Insider referral code INSIDER, your fees get a reduction 0.55%. The amount may seem little, but it will matter in times of hyperbitcoinization – which, according to Max and Roman, are a matter of “when”.