Looking for Bitcoin Loan Platform…YouHodler is a Swiss-based business that acts as a crypto-backed loan provider. Among its primary ideas is that you can still HODL, without having to await a spike to sell.
It enables users to obtain fiat funds immediately, based upon the worth of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most useful function would be the option to withdraw fiat to an individual savings account or individual 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 focuses on delivering a well-rounded experience for its users. You will discover whatever that a crypto owner or an investor would possibly need. In other words, YouHodler uses a range of services that lets you harness your digital assets.
YouHodler’s wallet is created with simplicity and performance in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The company offers devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Bitcoin Loan Platform
Possibly the most noteworthy function at YouHodler is its capability to offer you loans. A financier could consider these financing chances as a means of hedging. Crucially, it gives you access to a versatile course to go into the cryptocurrency trading markets.
With a crypto-backed line of credit, you can get fiat when you need it without touching your crypto portfolio at all. It removes a big part of the danger that accompanies investment options.
YouHodler is certainly a leading player in this area– not least because it uses a top-rate loan-to-value ratio of approximately 90%. Outpacing its rivals, YouHodler accepts 15 various digital coins as collateral.
Users can get both instant money loans and crypto loans in USD, EURO, GBP, CHF, and even in Bitcoin( BTC) and Tether( USDT). The rate of interest on crypto loans are fairly reasonably at 12% APR. If you are taking out a short-term loan, you might get your rate of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler provides you a couple of alternatives to pick how you wish to back your loan. You can make an application for a loan quantity in fiat or Bitcoin– and you use numerous altcoins as collateral.
The preliminary application procedure works as follows:
Make a demand utilizing your crypto possessions as security
Instantly receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will instantly get the security back, despite whether its worth has increased.
As you can see from the above, the process is as smooth as it could be. The company does not perform any credit rating checks or take some time to think about whether you are qualified for a loan. On the contrary, if you have sufficient collateral and a validated account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different plans for loans that come with predefined terms.
There are 3 alternatives for loan periods:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not figured out by the amount of security that you set up. Instead, it depends upon the kind of plan you select.
YouHodler uses the same rates of interest for all its users. As the community grows, the provider hopes that its interest rates will also drop appropriately. YouHodler likewise has an affiliate program to motivate its users to welcome others to join the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Solid Insurance. Crypto assets are insured for up to $150 million.
Stablecoin Interest. YouHodler offers some of the best interest rates for stablecoins.
Unique Functions. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you won’t find anywhere else.
Flexible Terms. You can increase the duration of your loans at any time.
High LTV. The leading 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 recent compared to its competitors.
Currencies to Obtain. Depending upon the currencies you utilize as security, you can just receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies readily available to earn interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies readily available for loaning: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, ASSOCIATE, and 15 other popular coins with the list growing.
Kind of service: Direct loaning.
Cryptocurrencies are unstable creatures. To make a profit, you have to be good at trading them or simply hold and hope your crypto gains in value. Because of volatility, neither approach is particularly easy to do.
What if you might simply deposit your crypto someplace and earn interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can manage that also since it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto lending and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Bitcoin Loan Platform
The company’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not available in the United States as well as in about a dozen other nations.