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P2P bitcoin with no KYC — and a Marshall Islands mailbox for a home
Hodl Hodl is the non-custodial P2P veteran: buyers and sellers trade directly, with the bitcoin locked in a 2-of-3 multisig escrow where the platform holds only one key. No verification is required — "we no longer perform voluntary verification", its FAQ says — and it claims 300,000+ registered users and 100,000+ deals over eight years. Checked 2026-08-21.
The legal footprint is as thin as the design allows: Hodlex Ltd., Marshall Islands, company 89220, at a trust-company address in Majuro. No financial licence is claimed, and the site's own explanation is structural: "Hodl Hodl doesn't hold any funds, so it avoids complex compliance." That position is the company's own reading, not a regulator's confirmation — and for UK users it means what it means: no authorisation, no ombudsman, no compensation scheme, by design.
The fee is 0.75% per trade split between buyer and seller (0.5% with a referral code, 1% extra via Trezor Suite), deducted from the bitcoin amount. There are no terms of service to read because the pages that should hold them return 404 — the FAQ is the closest thing to a contract.
What the model genuinely delivers: your counterparty risk is the other trader and the escrow mechanics, not a company balance sheet. What it doesn't: anyone to call. This is bitcoin trading at its most sovereign and least protected, and the site is honest about both halves.
Key details
| Entity | Hodlex Ltd., Marshall Islands (no. 89220) |
| Licence | None claimed — "doesn't hold any funds" is own rationale |
| Model | P2P with 2-of-3 multisig escrow; platform holds 1 key |
| KYC | None required; voluntary verification discontinued |
| Fee | 0.75% split buyer/seller; 0.5% with referral |
| Scale claims | 300K+ users; 100K+ deals; 8 years |
| Oddity | Terms-of-service pages return 404 |
| Last checked | 2026-08-21 |