Home » Trezor integrates with P2P bitcoin trading platform Hodl Hodl to ensure transaction privacy
The non-custodial bitcoin trading platform, Hodl Hodl, is now available as a trading option in SatoshiLab’s pioneering hardware wallet, Trezor, and accompanying free coin management app, Trezor Suite. The integration has been enabled by Invity, the crypto exchange comparison tool inside the Trezor wallet, and will strengthen privacy in peer-to-peer bitcoin transactions from within the Trezor ecosystem.
Hodl Hodl is non-custodial, meaning that it doesn’t hold any customer’s funds (neither fiat or bitcoin), locking it in multisig escrow instead where the buyer, the seller, and the platform each hold one key. When everything is agreed, the buyer and seller both sign the transaction after the fiat payment is received and then release the bitcoin into the buyer’s Trezor wallet.
This minimizes the possibility of bitcoin theft and reduces trading time.
The Privacy Principal
Because Hodl Hodl is a noncustodial trading platform, it is also not subject to complex compliance procedures. This allows trades to happen directly between users’ wallets and without having to submit any identity verification data to the trading platform.
That’s important because whilst Know Your Customer (KYC) compliance is standard on any custodial crypto exchange (as a purported anti-money laundering measure) it greatly diminishes privacy and exposes users to risk from data leaks, data sharing with third parties like chain analysis companies that track users’ transaction behaviour, or even government bodies within rogue states.
Matěj Žák, Chief Product Officer at Trezor: “When consumers buy bitcoin on an exchange, they expose themselves to a level of risk and forfeit privacy. Integrating with Hodl Hodl gives our users more choice and control around where they feel comfortable in terms of this value-exchange.”
Štěpán Uherík, CEO of Invity: “It’s hugely important to offer wallet users choice within the Trezor environment, not just between the bitcoin exchanges but also around the privacy of their transactions. The integration with Hodl Hodl not only delivers this, it also greatly reduces friction in the crypto user experience, making the financial freedom that we offer more accessible to users.”
Max Kei, CEO of Hodl Hodl: “Being able to exchange your Bitcoin within the Trezor Suite application right from your hardware wallet is like finding a missing piece of the puzzle. Being a non-custodial platform implies leaving the secure storage of the funds to our users, which, unfortunately, is not always handled perfectly. We highly encourage everyone to be more aware of how you store your funds and the means you use to exchange those.”
Invity.io is an independent Czech company and a member of the SatoshiLabs Group. Invity’s platform compares 17 crypto exchanges – with more added regularly – to enable users worldwide to buy, exchange, and sell crypto at the best rates all in one place. Invity’s interface and educational materials are specially designed to onboard newcomers to crypto, regardless of their technical knowledge. Invity’s comparison tool is an integral part of the free Trezor Suite app and is available on its standalone website for users of any wallet. Invity also maintains Coinmap.org, a longstanding crowdsourced resource showing Bitcoin ATMs and businesses that accept crypto.
Trezor is the independent Czech company behind the world’s first Bitcoin hardware wallet, the Trezor One. Its flagship product, the Trezor Model T comes with a full-color touchscreen and many advanced features, and both wallets are enhanced by the free Trezor Suite app which increases privacy and makes crypto more intuitive.
About SatoshiLabs Group
SatoshiLabs Group is the parent company of Trezor, Invity, and Tropic Square. It has contributed more than 22 innovative open security standards to the cryptocurrency industry, including BIP-39 Recovery seed and Passphrase, BIP-44, and SLIP-39 Shamir Backup, which have made cutting-edge security available to everyone. SatoshiLabs has expanded rapidly, with Invity offering multiple purchase methods to most of the world’s population, and Tropic Square set to release the world’s first auditable secure chip later this year.
AboutHodl HodlHodl Hodl is a P2P non-custodial Bitcoin trading and lending platform. Built on Bitcoin smart contracts, Hodl Hodl offers a unique technology for non-custodial deals that allows its users to deal directly with each other on a P2P basis, thus eliminating the necessity of the third party’s contribution. The platform ensures safety by providing a unique multisig escrow for each deal, leaving its users in control of the keys.
Hodl Hodl is committed to security, privacy, and making Bitcoin accessible to everyone in the world. Founded with the knowledge that using Bitcoin’s blockchain is the most secure way to send, store, and receive value, Hodl Hodl offers real-life applications of Bitcoin, including safely trading and lending with Bitcoin peer to peer.