Hodl Hodl is a Service provided by Hodlex Ltd (“Hodlex Ltd” or "us" or "our" or "we"). Your use of Hodl Hodl available through it is subject to these Hodl Hodl Terms of Service (“Terms of Service”) and the Hodlex Ltd Terms of Service ("General Terms"), and together these are referred to as the Terms ("Terms").
If there is any conflict between the Hodl Hodl Terms of Service and the General Terms, the Hodl Hodl Terms of Service shall prevail.
Please read these Terms of Service carefully before using the Services, because these Terms of Service affect your legal rights and obligations.
Advertiser – a User who has published the Offer on the hodlhodl.com trading platform;
Agreement – agreement regarding the provision of Services concluded between the Hodlex Ltd as a service provider and a User as a service consumer. These Terms of Service constitute the rules of the Agreement. Agreement is deemed to have concluded between the Hodlex Ltd and a User, if a User has actually started to use Services;
Cryptocurrency (or Crypto) – Bitcoin or alternatives to Bitcoin.
Blockchain Bitcoin Network - is a peer-to-peer payment network that operates on a cryptographic protocol.
Buyer – a User who buys Cryptocurrency from any other User (the Seller) using hodlhodl.com trading platform;
Escrow address - a P2SH Cryptocurrency multi-signature address, which requires two keys (one belongs to the Seller, one to the Buyer, and another - to Hodlex Ltd) to sign the Cryptocurrency transaction.
Fiat money (or Fiat currency) - currency without intrinsic value established as money by government regulation or law;
Hodlhodl.com (“Hodl Hodl”) – Internet website owned by Hodlex Ltd where Users can:
Offer – advertisement published on the hodlhodl.com trading platform by any User. Offer indicates respective User’s intention to purchase or sell Cryptocurrency;
Parties – both the Seller and the Buyer;
Payment window - timeframe within which the trade between the Seller and the Buyer shall be completed (i.e. Cryptocurrency shall be received by the Buyer and the payment shall be received by the Seller). Payment window must be defined by the Advertiser in Terms of Trade during the Offer creation process;
Purchase Contract – Cryptocurrency sell/purchase contract concluded between the Advertiser and the User who has accepted Advertiser’s created Offer. Terms of Trade specified within the respective Offer creation process become the rules of the Purchase Contract;
Seller – User who sells Cryptocurrency to another User (the Buyer) using hodlhodl.com trading platform;
Terms of Trade – terms of the potential trade specified by the Advertiser within the Offer creation process. Terms of Trade include a country where the Advertiser is willing to buy or sell Cryptocurrency, Cryptocurrency price and Fiat or Crypto currency of payment, minimum and maximum amount of payment, acceptable payment methods, Payment window as well as other terms Advertiser or Hodlex Ltd consider necessary. Hodlex Ltd is entitled to amend the list of mandatory rules and conditions which must be defined in the Terms of Trade at any time unilaterally. If any User accepts the Offer, he is deemed to have entered into the Purchase Contract with the Advertiser and in this event Terms of Trade specified within the Offer creation process become the rules of this Purchase Contract;
Terms of Service – these terms of service;
User – an individual who has an account (record) created within the hodlhodl.com authentication system and who is actually using Hodlex Ltd Services. Any User is deemed to have entered into the Agreement;
User Account – an account (record) created within the hodlhodl.com authentication system and associated to the specific User which allows this User to access Hodlex Ltd services;
Wallet – a Bitcoin wallet that operates on the Blockchain Bitcoin Network;
Working Hours - daily hours when the Advertiser is ready to perform a trade with the other Users (i.e. when the Advertiser’s Offer will be available/visible for the other Users). Working Hours must be defined by the Advertiser in the Terms of Trade of the respective Offer.
You will be able to access Hodl Hodl by using your User Account.
After each deal, every User has a right to rate his cooperation with the other User. Such ratings are used by Hodlex Ltd to define User’s reputation. User’s reputation is an indicator which shows the other Users and Hodlex Ltd, how honestly and responsibly this particular User behaved during the course of his previous deals.
In order to reduce probability of frauds, Hodlex Ltd. has introduced several trading limitations (e.g. single-trade limit, number of active Offers at the same time etc.), which are determined by the limit level applied to those Users who have not reached certain number of successful deals and have not bought / sold certain amount of Cryptocurrency. The table of these limitations shall be published on the hodlhodl.com website on the FAQ/Help page, which is in addition to further information about the current limits visible on the page Dashboard.
The administrator of Hodl Hodl has the right to, at any time, change limits for a User, without changing limits for other Users and to change limits for all the Users on Hodl Hodl trading platform.
Limits level can be found in each User’s profile.
After your account is registered and your email has been verified you can start trading with the other Users of the hodlhodl.com trading platform.
A trade (contract) is initialized if:
Offers are Users’ advertisements to buy or sell Cryptocurrency published in the relevant sections (i.e. "Buy bitcoins" or "Sell bitcoins") of the hodlhodl.com website.
You can create a new Offer ("Offer” or “Offers”) to advertise your intention to buy or sell Cryptocurrency. Within the Offer creation process you will be asked to specify certain Terms of Trade ("Terms of Trade"), which include a country where the Advertiser is willing to buy or sell Cryptocurrency, Cryptocurrency price and Fiat or Crypto currency of payment, minimum and maximum amount of payment, acceptable payment methods, Payment window, Working hours, as well as any other information you consider necessary.
Terms of Trade shall only contain true and accurate information.
From time to time we may unilaterally amend the list of terms which must be defined within the Offer creation process.
If you do not want to display an Offer in the public Offer list, then when creating the Offer, you need to mark the Offer type as “Private”. When Users want to create a contract for this Offer, they can only do so if the link to this Offer has been sent to them.
After the Offer with a fixed price is created, the price is locked. However it can be changed by manually editing the Offer. If the Offer’s price is tied to one of the available exchanges, the price fluctuates accordingly. Whether the offer price is fixed or tied to an exchange, the price of the Cryptocurrency shall not deviate more than 30% from the market rate. Private Offers are not subject to this rule and may use any price.
Multiple Offers with the same payment methods are not allowed in the same country unless the Offers have a price difference of at least 2% (two percent).
Published Offer can be withdrawn by the Advertiser at any time even it is already accepted by the other User.
The Offers can have one of 3 statuses: Active, Inactive, Disabled. To improve the operations of the Hodlex Ltd, an Offer’s status may be automatically and/or temporarily changed to “Inactive” or “Disabled”.
An Offer’s transition to “Inactive” or “Disabled” status may occur in, but is not limited to, the following situations:
We may hide, or remove your Offer / Offers, if you violate these Terms of Service or any other agreement you enter into with Hodlex Ltd.
By publishing an Offer, you express your will to enter into a Purchase Contract (“Purchase Contract”) with any other User who will accept your Offer. Unless your Offer is withdrawn, you are deemed to have an intention and a will to enter into a Purchase Contract with any other hodlhodl.com User who will accept your Offer and in accordance with the rules (“Terms of Trade”) specified by you within the Offer creation process.
By accepting an Offer created by another User (the Advertiser), you are deemed to have accepted all Terms of Trade of the respective Offer and entered into a Purchase Contract with the Advertiser. In this event, Terms of the respective Trade shall constitute the rules of the Purchase Agreement concluded between you and the Advertiser.
The minimum amount for entering the Purchase Agreement is 0.001 bitcoins;
In accordance with this Purchase Agreement, the Seller agrees to sell a certain amount of Cryptocurrency to the Buyer, and the Buyer agrees to buy this said amount of Cryptocurrency from the Seller, for the price specified by an Advertiser and in full compliance with the Terms of Trade.
Terms of Trade, as determined by an Advertiser, are binding for both Buyer and Seller until the completion or termination of the Purchase Contract, unless the Terms of Trade contradict these Terms of Service or are illegal.
The Purchase Contract is deemed to be completed and all mutual obligations of both parties are deemed to be fulfilled, if the Seller has received the payment from the Buyer and the Buyer has received Cryptocurrency from the Seller within the Payment window, and in full compliance with the Terms of Trade.
If the Seller has not received the payment from the Buyer and/or if the Buyer has not received Cryptocurrency as it was stipulated by the Terms of Trade and within the Payment window and neither party has initiated a dispute, the Purchase Contract is deemed to be terminated. In this event Cryptocurrency (if any) which was transferred to the Cryptocurrency Escrow Address associated with this specific Purchase Contract shall be transferred back to its sender (or senders) and all sums (if any) which were transferred (or passed) to the Seller by the Buyer shall be repaid back to the Buyer by the Seller. Please be aware that fees associated with any transfers in this case are covered by the User that serves the sending transaction.
Both the Seller and the Buyer can also cancel the Purchase Contract unilaterally if and when they are allowed to do so by these Terms of Services. In this event Cryptocurrency (if any) which was transferred to the Cryptocurrency Escrow Address associated with this specific Purchase Contract shall be transferred back to its sender (or senders) and all sums (if any) which were transferred (or passed) to the Seller by the Buyer shall be repaid back to the Buyer by the Seller. Please be aware that fees associated with any transfers in this case are covered by the User that serves the sending transaction.
Within 180 days after respective Purchase Contract is completed or terminated or respective dispute is resolved, the Buyer, upon request, must be able to provide explicit and sustaining proof of the sent payment.
During the course of the Cryptocurrency sell/purchase deal both Seller and Buyer will receive instructions how to act in order to finalize the deal and complete the Purchase Agreement. These instructions can be found on the respective contract page (additional notifications will also be sent via email and/or hodlhodl.com internal notification system).
Contract page can be opened by clicking on the respective contract in the My Dashboard or My contracts section of the website.
There are different status indicators, which indicate current status of the deal and make it easier for the User to understand what he has to do at a specific moment in order to finalize the deal.
Only the buyer may send payments, the buyer must be the sole registered account owner and the person who uses the account. The sellers payment details must match the account owner's name. Third parties may not be involved in making or receiving payments. It is a violation of this agreement to attempt to provide, provide, or make payments to or from third parties.
If the Buyer and the Seller are in a disagreement over a trade, either party can initiate a dispute, if and when they are allowed to do so by these Terms of Services. Disputes are to be resolved by hodlhodl.com support staff.
Hodlex Ltd support resolves disputes with due diligence by carefully inspecting and considering the Terms of Trade, payment evidence, Users’ chat messages, Users’ reputation, other data submitted to us by Users and data collected on our own.
Hodlex Ltd can take the Buyer’s side if any of the following criteria have been met:
Which will lead to the following result: Hodlex Ltd will and sign a transaction in accordance with which the locked Cryptocurrency shall be transferred from the Escrow Address to the Buyer. In this event, status of the deal will be - “Resolved”.
Hodlex Ltd can take the Seller’s side, when any of the following criteria have been met:
Which will lead to the following result: Hodlex Ltd will sign a transaction in accordance with which the locked Cryptocurrency shall be returned from the Escrow Address to the Seller. In this event, status of the deal will be - “Resolved”.
In case both Buyer and Seller provides equally convincing evidences, Hodlex Ltd will resolve the dispute to the Party that provides stronger evidence.
Both Parties are required to provide accurate, unquestionable and complete evidence, documents that confirm the correctness of the User in case of the dispute. Each User must be able to provide explicit and full information about the transaction and/or payment in question.
Any payment orders and slips must be with the complete payment information.
Hodlex Ltd draws the attention of Users, hodlhodl.com support staff does not resolve disputes with the payment method "In person". In case Buyer and Seller are in a disagreement over a trade with this payment method, hodlhodl.com will only sign a transaction for the locked Cryptocurrency to be returned to the Seller, if both Parties explicitly and clearly express their agreement for the trade & they want Hodlex Ltd to take the Sellers side. Otherwise, Buyer shall receive the funds only if Seller signs the transaction for the locked Cryptocurrency to be released to the Buyer.
Any party that knowingly submits fraudulent, false, or inaccurate documents or information, or forcefully tries to control the outcome of a disputed trade, or makes false claims, or obstructs the dispute resolution process in any way including but not limited to not responding, not providing information, files or documents to customer support within the established timeframe, or any user that violates any rule of the dispute resolution process is deemed to be in violation of these Terms of Service which may be grounds for losing a dispute and/or the User Account to be suspended and/or terminated.
Dispute resolution rules are located at this link https://hodlhodl.com/pages/dispute_rules. Both parties must strictly adhere to all stated rules.
You may request a review if you were a party of a dispute in any way and you believe Hodl Hodl did not resolve the dispute according to these Terms of Service. To do so, you must notify us by contacting customer support and request a review within 120 days after the dispute resolution.
Hodlex Ltd is entitled to charge its Users for each transaction performed using the hodlhodl.com trading platform. Fees that Hodlex Ltd charges shall be deducted from the entire amount of Cryptocurrency transferred to the Escrow Address within each deal/transaction.
Fees charged by Hodlex Ltd are calculated as a certain percentage of the amount of Cryptocurrency transferred to the Escrow Address. The trading fee of a certain contract is determined by the lowest trading fee rate between Parties.
It is deemed that the fees for using the hodlhodl.com trading platform charged by Hodlex Ltd shall be covered by both Buyer and Seller in equal shares. This way, both Buyer and Seller realize their respective half of the fee Hodlex Ltd charges in the following way:
All Cryptocurrency transaction fees related to transferring Cryptocurrency from Escrow Address to the Buyer shall always be covered by the Buyer.
At the same time:
Taking in account the fact that the Cryptocurrency transaction fee in Bitcoin Blockchain Network may vary from time to time and cannot be predicted, the total and final fee (both Hodlex Ltd fee and Cryptocurrency transaction fee) will be visible to both Parties only after the Seller transfers Cryptocurrency to the Escrow Address. At the same time, estimated (but not final) fees are visible to the User when creating a Purchase Contract on the Offer page.
Trading fee for using the hodlhodl.com trading platform can be found on Dashboard page.