All reviews for room (rating: 80%)

Why is trading on Hodl Hodl secure? Multisig escrow Hodl Hodl ensures every trader’s safety by providing unique multisig escrow for every contract created on our trading platform. During the trade, the bitcoins remain locked in the multisig escrow (P2SH) address on the blockchain. In order to release the Bitcoin from escrow, two (out of three) keys are needed - one belongs to the seller, one belongs to the buyer, and the other belongs to Hodl Hodl. This system ensures that both buyer and seller are protected from scams, since no transaction can happen without a signature from two parties. The seller is not able to refund Bitcoin from escrow without the approval of a second party, and the buyer is not able to receive the Bitcoin unless the contract is successfully completed. Hodl Hodl uses its key if there is a dispute.