Hodl Hodl
Hodl Hodl is a non-custodial P2P Bitcoin trading platform that uses multisig escrow to enable anonymous, direct trades between buyers and sellers across 100+ fiat currencies and payment methods without holding user funds.
- Company typePrivate
- Founded2016
- HeadquartersRiga, Latvia
- Headcount11–50
- GTM typeB2C
- OfferingDigital Commerce or Content
What Hodl Hodl does
Hodl Hodl, operated by Hodlex Ltd, is a non-custodial peer-to-peer Bitcoin trading platform that has been live since 2016. The platform enables buyers and sellers to transact directly with each other using 2-of-3 multisig (P2SH) escrow contracts, where Hodl Hodl holds one key and the two contracting counterparties hold the others. This architecture ensures that the platform never takes custody of user funds, eliminates the need for KYC/AML verification, and provides dispute resolution backed by the platform's third key. Hodl Hodl supports trading across 100+ fiat currencies and 100+ payment methods, and has accumulated 300,000+ registered users with 100,000+ deals completed over its operating history.
The product portfolio extends beyond the core P2P exchange to include Lightning Network trading via the Arkade protocol (LN-BTC), a separate P2P Bitcoin lending platform at lend.hodlhodl.com, a public REST API for programmatic trading, and a testnet environment for onboarding. The company monetizes through transaction-based trading fees (0.75% standard, 0.5% for referred users, deducted from BTC amount on contract completion), partner intermediary fees (e.g., 1% share from Trezor Suite-originated trades), and minor swap fees on Lightning/Arkade atomic swaps. It also operates the annual Baltic Honeybadger Bitcoin conference as a brand and community-building initiative.
Hodl Hodl targets two primary segments: privacy-conscious Bitcoin traders who want to avoid centralized exchange verification, and global P2P traders in regions with limited access to centralized exchanges who need local currency settlement. The company has raised outside capital in small rounds (notably Kingsway Capital, Ten31, XBTO Group, and Bitfinex in 2021) but appears to operate largely on trading-fee revenue with a lean team of 11-50 employees headquartered in Riga, Latvia, with legal domicile in the United Kingdom (Hodlex Ltd).
Hodl Hodl firmographics
Firmographics- Name
- Hodl Hodl
- Legal name
- Hodlex Ltd
- Website
- https://hodlhodl.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hodl Hodl is a non-custodial P2P Bitcoin trading platform that uses multisig escrow to enable anonymous, direct trades between buyers and sellers across 100+ fiat currencies and payment methods without holding user funds.
- Ownership category
- akta.pro rank
Hodl Hodl industry classification
Industry- Product category
- P2P Bitcoin Trading Marketplace
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Order-Book (CLOB) DEXs (FSADABAB)
- akta.pro secondary industry
- Wallet Connectivity & Session Protocols (WalletConnect, deep links, QR, auth sessions) (FSAPACAF)
Keywords
Where Hodl Hodl is headquartered
LocationHeadquarters
- HQ city
- Riga
- HQ country
- Latvia
- HQ region
- Europe
Markets served
Hodl Hodl business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Technology or R&D, Personnel
Revenue model
- Trading Fees: Platform charges trading fee deducted from BTC amount upon contract completion. Standard rate 0.75% for registered users. Discounted rate 0.5% for users who registered via referral code or have referred at least one active trader. Fee split between buyer and seller.
- Intermediary Fees: Fee charged by partner platforms or referrers when contracts are conducted through partner means, such as Trezor Suite application. Trezor intermediary fee is 1% paid entirely by Trezor referred user or equally divided between parties.
- Swap Fees (Lightning): Dynamic network fee for atomic swaps between Lightning Network and Arkade escrow. For a $10,000 trade, swap fee is approximately $1. For smaller trades, fee is negligible fraction of a cent. Non-refundable as network costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Trading Fee |
| Transaction based/ take rate | Pay-as-you-go | Discounted Trading Fee |
| Transaction based/ take rate | Pay-as-you-go | Minimum Trading Fee Cap |
| Transaction based/ take rate | Pay-as-you-go | Trezor Suite Intermediary Fee |
| Transaction based/ take rate | Pay-as-you-go | Lightning Swap Fee |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Hodl Hodl product offering
Product offeringCore offering
Hodl Hodl operates a non-custodial peer-to-peer Bitcoin trading and lending marketplace where buyers and sellers transact directly with each other. The platform uses multisig (P2SH) escrow contracts with 2-of-3 keys distributed between buyer, seller, and Hodl Hodl, ensuring the platform never holds user funds. It supports on-chain Bitcoin trades, Lightning Network trades via Arkade, and P2P Bitcoin lending, all without requiring KYC/AML verification.
Product overview
Hodl Hodl is a P2P Bitcoin trading platform ecosystem consisting of a core non-custodial exchange, Lightning Network trading via Arkade integration, P2P lending, a developer API, and a testnet environment. The core platform uses 2-of-3 multisig escrow (P2SH) where funds remain in user-controlled wallets and Hodl Hodl never holds user funds. The platform has operated for 8 years with over 100,000 deals closed and 300,000+ registered users. The product portfolio includes: the main P2P trading platform, LN-BTC trading through ArkadeOS integration, P2P lending, the Hodl Hodl API for developers, and TESTNET for risk-free practice.
Differentiator
Problem solved
Functional benefit
Brands
- Hodl Hodl Lend: P2P Bitcoin lending platform accessible at lend.hodlhodl.com
- Baltic Honeybadger
- Hodl Hodl API
Products and services
- Hodl Hodl P2P Trading Platform Global P2P Bitcoin trading platform enabling users to buy and sell Bitcoin directly with each other without middlemen. Uses 2-of-3 multisig escrow (P2SH) where Hodl Hodl holds one key and the two contracting parties hold the others. Non-custodial by design — the platform never holds user funds. Supports on-chain Bitcoin trades and Lightning Network trades via Arkade integration. Targets individual privacy-conscious Bitcoin traders globally.
- LN-BTC (Lightning Bitcoin) Trading Lightning Network Bitcoin trading capability powered by Arkade protocol. Enables near-instant Bitcoin transfers with near-zero fees while maintaining non-custodial security through a specialized Taproot-based multisig escrow (3/4 keys distributed between buyer, seller, Hodl Hodl, and Arkade operator). Beta phase limits: minimum 0.000070 LN-BTC, maximum 0.00070 LN-BTC for 30-day period.
- Hodl Hodl API
Quantifiable outcome
- 100,000+ deals closed on platform
- +2 more outcomes
Companies that use Hodl Hodl
Customer profileSegments3 records
Ideal customer profiles3 records
Hodl Hodl technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
Hodl Hodl partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- ArkadecoreArkade is a Layer 2 Bitcoin protocol for scalable, self-custodial off-chain payments. Hodl Hodl uses Arkade's Virtual Transaction Outputs (vTXOs) for Lightning Bitcoin (LN-BTC) trading. The escrow is a 3/4 multisig with keys distributed between buyer, seller, Hodl Hodl, and Arkade operator. Provides instant, near-zero fee Bitcoin transactions with Lightning Network interoperability via non-custodial atomic swaps.
- SatoracoreSatora provides the atomic swap mechanism that enables interoperability between the Lightning Network and Arkade escrow on Hodl Hodl. Handles the swap fee for moving Bitcoin between layers. Dynamic network fee structure where swap fee is approximately $1 for a $10,000 trade.
- Trezor SuiteminorHodl Hodl is accessible through Trezor Suite hardware wallet application. Users can trade Bitcoin via Hodl Hodl directly within Trezor Suite. Trezor charges 1% intermediary fee on trades conducted through their platform, paid entirely by the Trezor referred user or equally divided between both parties if both were referred by Trezor.
- Featured on Major Media OutletsminorHodl Hodl has been featured and mentioned in major media outlets including CNN, Yahoo Finance, Coindesk, Bloomberg, and Bitcoin Magazine. These appearances provide brand credibility and visibility in the broader cryptocurrency and finance media landscape.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Hodl Hodl competitors and assessment
Company assessmentDirect peers
- Paxful: Paxful is a direct P2P Bitcoin and crypto marketplace with offer listings, escrow, and multiple payment methods — the closest operating analogue to Hodl Hodl before Paxful's 2023 shutdown of its core marketplace and subsequent relaunch.
- Bisq: Bisq is a fully decentralized, non-custodial P2P Bitcoin exchange using multisig escrow, no KYC, and a global offer book. It competes with Hodl Hodl for the same privacy-conscious, self-custody-focused trader segment, with Bisq emphasizing desktop-native and Tor-only access.
- Peach Bitcoin: Peach Bitcoin is a mobile-first non-custodial P2P Bitcoin trading app using multisig escrow and no KYC, positioned explicitly to fill the gap left by LocalBitcoins and Paxful. It competes head-to-head with Hodl Hodl in the privacy-preserving P2P segment.
- LocalBitcoins: LocalBitcoins was the original global P2P Bitcoin marketplace and the direct historical predecessor to Hodl Hodl. It was shut down in 2023 after regulatory pressure, but its reputation system and user base partly migrated to Hodl Hodl, making it the most historically comparable peer.
Emerging players
- RoboSats: RoboSats is a lightweight, Tor-based P2P Bitcoin OTC platform using held escrows and Lightning rails for small-ticket trades. It overlaps with Hodl Hodl's Lightning-via-Arkade product for micro and privacy-focused traders.
- AtomicDEX: AtomicDEX is a non-custodial multi-asset DEX with atomic-swap escrow for cross-chain trading. It overlaps with Hodl Hodl in non-custodial philosophy and atomic-swap technology, though it focuses on coin-to-coin rather than fiat-to-BTC.
Broad incumbents
- Binance P2P: Binance P2P is the largest centralized exchange's P2P marketplace, offering multi-asset, multi-currency, multi-payment-method trading with deep liquidity. While it does require KYC, it competes with Hodl Hodl for fiat-to-BTC P2P volume globally.
- OKX P2P: OKX P2P is a major centralized-exchange P2P marketplace supporting multiple cryptocurrencies and 100+ payment methods globally. It competes with Hodl Hodl on global payment-method coverage, though with a KYC-mandated model.
- Bybit P2P: Bybit P2P is a fast-growing centralized P2P marketplace with multi-asset support and broad payment-method coverage. It represents the kind of incumbent that benefits from KYC-bound users migrating away from non-custodial venues.
Others
- Trocador: Trocador is a no-KYC crypto exchange aggregator that routes users to non-custodial and instant exchanges. It serves as an adjacent ecosystem player to Hodl Hodl by aggregating liquidity from P2P and DEX-style venues for privacy-conscious traders.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Hodl Hodl social profiles
Digital presenceHodl Hodl financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hodl Hodl leadership team
Management profileNumber of profiles
Profiles1 record
Hodl Hodl funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hodl Hodl M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hodl Hodl
What does Hodl Hodl do?
Hodl Hodl operates a non-custodial peer-to-peer Bitcoin trading and lending marketplace where buyers and sellers transact directly with each other. The platform uses multisig (P2SH) escrow contracts with 2-of-3 keys distributed between buyer, seller, and Hodl Hodl, ensuring the platform never holds user funds. It supports on-chain Bitcoin trades, Lightning Network trades via Arkade, and P2P Bitcoin lending, all without requiring KYC/AML verification.
Is Hodl Hodl a public or private company?
Hodl Hodl is a private company. It is classified as venture growth investor backed and is currently operating.
When was Hodl Hodl founded?
Hodl Hodl was founded in 2016. It employs 11 to 50 people.
Where is Hodl Hodl based?
Hodl Hodl is headquartered in Riga, Latvia, in the Europe region.
How does Hodl Hodl make money?
Three revenue lines are on record. Trading Fees are the primary driver. The others are intermediary Fees and swap Fees (Lightning).
Who are Hodl Hodl's main competitors?
Direct peers on record are Paxful, Bisq, Peach Bitcoin and LocalBitcoins. Emerging players are RoboSats and AtomicDEX. Broad incumbents are Binance P2P, OKX P2P and Bybit P2P. Trocador is listed as an others.
Does Hodl Hodl have an API?
Yes. Hodl Hodl provides a public REST API (v1) for programmatic access to their P2P Bitcoin trading platform. The API enables developers to integrate and automate trading operations including: managing contracts (create, confirm, cancel, mark as paid, dispute), searching and creating offers, retrieving exchange rates, handling chat messages, managing payment methods, and accessing user notifications. API keys are valid for 1 year. Public endpoints (GET /api/v1/countries, /api/v1/currencies, /api/v1/offers, /api/v1/payment_methods) do not require authentication. Signed requests using HMAC-SHA256 are required for operations involving release_address. Seed encryption/decryption, escrow validation, and transaction signing are client-side operations. API documentation includes JavaScript examples using bitcoinjs-lib. Developer documentation is at hodlhodl.com/api/docs.
What industry is Hodl Hodl in?
Hodl Hodl's product category is P2P Bitcoin Trading Marketplace. Its primary akta.pro industry code is FSADABAB, Order-Book (CLOB) DEXs, with a secondary code of FSAPACAF, Wallet Connectivity & Session Protocols (WalletConnect, deep links, QR, auth sessions). Its NAICS code is 5231 and its SIC code is 6200.