HodlHodl is pretty much a LocalBitcoins alternative that does the same but in a more decentralized way. That is, HodlHodl is a peer to peer Bitcoin (and Litecoin) trading system. The principle of buying and selling cryptocurrency is the same – you select a partner to transact with, both exchange crypto/fiat and ultimately ctyptocurrency is released.
The difference from LocalBitcoins though* is that HodlHodl does not hold any funds – the coin that’s being transferred is stored at a freshly created multisig address. As a result the trades are truly decentralized, the platform is not providing any financial services (hence no KYC or AML), and the process is more transparent.
The good news is that HodlHodl has gone live in the USA today, so if you are from the states and you’ve wanted to test it out for a while already – now’s a good day! To seal the deal, HodlHodl have waived all fees until July 2018 – and after July they’ll be charging 0.6% per trade.
NOTE: if you wish to learn the ropes and see how Hodlhodl works – use the testnet: https://testnet.hodlhodl.com/
Watch this video to follow a trade where Bitcoin is bought for Skrill on a testnet: