Looking for Bitcoin Lending…YouHodler is a Swiss-based company that functions as a crypto-backed loan company. Among its main concepts is that you can still HODL, without needing to wait on a spike to offer.
It allows users to obtain fiat funds instantly, based upon the value of their cryptocurrency property holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most useful function would be the choice to withdraw fiat to a personal bank account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be far-fetched to consider YouHodler as a bank for your cryptocurrency. It is efficient and fast, allowing users to move their crypto properties with ease.
The platform concentrates on providing a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would possibly need. To put it simply, YouHodler provides a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is created with simpleness and performance in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for financial investment functions in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Bitcoin Lending
Perhaps the most notable feature at YouHodler is its capability to use you loans. An investor could consider these funding opportunities as a means of hedging. Crucially, it offers you access to a flexible course to get in the cryptocurrency trading markets.
With a crypto-backed credit line, you can get fiat when you need it without touching your crypto portfolio at all. It eliminates a big part of the risk that accompanies investment choices.
YouHodler is undoubtedly a leading gamer in this space– not least since it uses a top-rate loan-to-value ratio of approximately 90%. Outpacing its competitors, YouHodler accepts 15 various digital coins as security.
Users can get both immediate money loans and crypto loans in USD, EURO, GBP, CHF, and even in Bitcoin( BTC) and Tether( USDT). The interest rates on crypto loans are relatively reasonably at 12% APR. If you are taking out a short-term loan, you might get your rates of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler provides you a few alternatives to pick how you wish to back your loan. You can look for a loan quantity in fiat or Bitcoin– and you use numerous altcoins as security.
The initial application process works as follows:
Make a demand using your crypto assets as security
Immediately get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you repay the loan, you will immediately get the collateral back, despite whether its worth has actually increased.
As you can see from the above, the procedure is as seamless as it could be. The company does not carry out any credit rating checks or take time to think about whether you are qualified for a loan. On the contrary, if you have enough security and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has different plans for loans that feature predefined terms.
There are 3 choices for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not figured out by the quantity of collateral that you put up. Rather, it depends on the kind of strategy you pick.
YouHodler provides the very same rates of interest for all its users. As the neighborhood grows, the service provider hopes that its rate of interest will also drop accordingly. YouHodler also has an affiliate program to encourage its users to invite others to sign up with the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance. Crypto possessions are insured for up to $150 million.
Stablecoin Interest. YouHodler uses a few of the very best interest rates for stablecoins.
Unique Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The top 20 coins can be utilized as security with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is rather current compared to its rivals.
Currencies to Obtain. Depending upon the currencies you utilize as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered to earn interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies offered for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, ASSOCIATE, and 15 other popular coins with the list growing.
Kind of service: Direct financing.
Cryptocurrencies are volatile creatures. To make a profit, you need to be proficient at trading them or simply hold and hope your crypto gains in value. Since of volatility, neither technique is especially easy to do.
What if you might just deposit your crypto someplace and earn interest on it. It pays high interest on cost savings. If you’re in the market for a crypto-backed loan, Youhodler can deal with that likewise since it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Bitcoin Lending
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States along with in about a dozen other countries.