Move to Hodl Hodl: Underlying features

This article is from the series “Move to Hodl Hodl” and explains the underlying features that might not be obvious at first glance.

Let’s delve in deeper together.

Payment methods

Actually everyone doesn’t know that Hodl Hodl allows you to add new payment methods to the exchange, and that it can be done by anyone.

As Hodl Hodl is a peer-to-peer exchange, the payment methods our customers use do not change the way we operate — buyer pays the seller directly and we are not involved in this process. Thus, you can add any payment method to the exchange, it can be a bank wire (let’s say, a specific bank name), online payment system, or a cryptocurrency etc.

To do this, navigate to the “Payment methods” page, which you can find in the user menu, and you’ll be able to add new a payment method there.

Once the payment method is moderated by the exchange’s administration (to avoid duplicates, wrong names etc.) the new payment method is available for use by anyone.

Link your profile from another P2P exchange

Hodl Hodl is a young exchange, and, obviously, we want to gather every trader from the other P2P exchanges to trade at Hodl Hodl.

Thus, one of our goals is to make the transition process as smooth as possible, and the first step was done a long time ago: you can link your profile from another P2P exchange to your Hodl Hodl profile, and share your existing reputation and number of trades with our customers.

Everyone can do it on the profile editing page in “P2P profiles” tab, just follow the instructions. Once administration approves your request, links to your profiles on Localbitcoins or Paxful will be displayed in your profile on Hodl Hodl.

Also, we are giving everyone that completes this procedure a discounted exchange fee of 0% for one month.

Referral program

A referral program isn’t uncommon — most cryptocurrency exchanges have one, but we would still like to shed light on it.

In general, we give you a referral link (and code), that your friends can use during registration. For every trade they complete, you receive between 5% and 10% of the exchange fee that we earn, right to your own Bitcoin wallet.

Your referral payout percent is dependent on how many traders you have invited to the exchange, and the hallmark of our referral program is that it’s permanent: you earn money from your referrals for life.

Discounted exchange fee

To help increase the amount of time of our customers are online, we discount your exchange fee for being online.

A 20% discount of the exchange fee is given to everyone that has been online for at least 8 hours within the past 24 hours.

Once the time online for the past 24 hours becomes less than 8 hours, the exchange fee rate returns to the previous level.

Limits

This is not something we are proud of, but because of the nature of our exchange (we don’t do KYC/AML and can’t freeze funds of the user in case of scam — we simply don’t hold funds) we introduced limitations for everyone.

Every our customer is limited by:

  • Maximum trade amount (initial limit is 1 BTC per trade);
  • Number of simultaneous trades (initial limit is 4 trades at once);
  • Number of active offers (initial limit is 4 offers).

This definitely helps us tie scammer’s hands, but also inconveniences users. And because of this, the limitations of each user are reduced as they increase their trade volume and frequency — more information about this can be found in our FAQs.

Offers bot

This is another thing we would like to shed light on — when a new offer is created at Hodl Hodl, we automatically post information about it to our specially created:

OTC

You may be facing issues with finding a counterparty at Hodl Hodl — we can help you.

At the page https://hodlhodl.com/otc_requests/new you may submit an OTC request, and our managers will match you with a counterparty. This will be done according to your conditions and at no extra charge to you.

Next post

In the next post we’ll dig deeper into how to move to Hodl Hodl from another P2P exchange.

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Hodl!