Looking for Borrow Cash Against Crypto…YouHodler is a Swiss-based company that serves as a crypto-backed loan service provider. Among its primary concepts is that you can still HODL, without having to wait for a spike to sell.
It enables users to obtain fiat funds immediately, based upon the value of their cryptocurrency property holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most useful feature would be the option to withdraw fiat to a personal bank account or individual charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be far-fetched to think about YouHodler as a bank for your cryptocurrency. It is fast and effective, enabling users to transfer their crypto possessions with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will find everything that a crypto owner or a financier would potentially require. To put it simply, YouHodler provides a variety of services that lets you harness your digital assets.
YouHodler’s wallet is designed with simplicity and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment functions in your wallet. The company provides devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Borrow Cash Against Crypto
Maybe the most noteworthy function at YouHodler is its capability to offer you loans. An investor could consider these funding chances as a means of hedging. Most importantly, it offers you access to a versatile path to enter 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 gets rid of a big part of the threat that accompanies investment choices.
YouHodler is unquestionably a leading gamer in this space– not least due to the fact that it uses a top-rate loan-to-value ratio of as much as 90%. Outmatching its rivals, YouHodler accepts 15 various digital coins as security.
Users can receive both instantaneous money loans and crypto loans in USD, EURO, GBP, CHF, and even in Bitcoin( BTC) and Tether( USDT). The rates of interest on crypto loans are fairly 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 process that YouHodler has in place.
YouHodler offers you a couple of alternatives to choose how you wish to back your loan. You can make an application for a loan quantity in fiat or Bitcoin– and you use several altcoins as collateral.
The initial application process works as follows:
Make a demand using your crypto possessions as collateral
Instantly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will immediately get the security back, regardless of whether its worth has 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 report checks or require time to think about whether you are eligible for a loan. On the contrary, if you have adequate collateral and a confirmed account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different packages for loans that include predefined terms.
There are three choices for loan durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not identified by the quantity of security that you put up. Rather, it depends upon the type of plan you choose.
YouHodler provides the exact same rates of interest for all its users. As the neighborhood grows, the supplier hopes that its rates of interest will likewise drop appropriately. YouHodler likewise 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..
Strong Insurance. Crypto properties are insured for as much as $150 million.
Stablecoin Interest. YouHodler offers some of the very best interest rates for stablecoins.
Distinct Features. You’ll find cool products such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Flexible Terms. You can increase the period of your loans at any time.
High LTV. The top 20 coins can be utilized as collateral with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is quite current compared to its competitors.
Currencies to Borrow. Depending on the currencies you use as security, 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 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.
Type of service: Direct financing.
Cryptocurrencies are unstable creatures. To earn a profit, you need to be good at trading them or simply hold and hope your crypto gains in worth. Due to the fact that of volatility, neither technique is especially simple to do.
What if you could just deposit your crypto someplace and make interest on it. In this manner, if the cost boosts by a percentage or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can manage that likewise given that it lends out its crypto on deposits if you’re in the market for a crypto-backed loan. Let’s see how it works.
YouHodler is a cryptocurrency exchange that concentrates on crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Borrow Cash Against Crypto
The business’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States along with in about a dozen other countries.