Looking for Can I Trust Youhodler…YouHodler is a Swiss-based business that works as a crypto-backed loan provider. One of its primary concepts is that you can still HODL, without needing to await a spike to sell.
It permits users to obtain fiat funds instantly, based on 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 beneficial function would be the alternative 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 consider YouHodler as a bank for your cryptocurrency. It is efficient and quick, allowing users to move their crypto possessions with ease.
The platform focuses on delivering a well-rounded experience for its users. You will find everything that a crypto owner or a financier would perhaps need. Simply put, YouHodler offers a variety of services that lets you harness your digital assets.
YouHodler’s wallet is developed with simplicity and efficiency in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for investment functions in your wallet. The business offers devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Can I Trust Youhodler
Possibly the most significant function at YouHodler is its capability to provide you loans. A financier might consider these financing chances as a means of hedging. Crucially, it offers you access to a flexible course to go into 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 gets rid of a huge part of the risk that accompanies investment options.
YouHodler is unquestionably a leading gamer in this area– not least because it offers a top-rate loan-to-value ratio of up to 90%. Outpacing its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can get both instantaneous cash 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 relatively reasonably at 12% APR. If you are taking out a short-term loan, you could 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 want to back your loan. You can obtain a loan amount in fiat or Bitcoin– and you utilize multiple altcoins as collateral.
The initial application process works as follows:
Make a request using your crypto assets as security
Immediately receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will right away get the collateral back, despite whether its value has actually increased.
As you can see from the above, the process is as smooth as it could be. The business does not carry out any credit score checks or take time to think about whether you are qualified for a loan. On the contrary, if you have sufficient security and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various bundles for loans that include predefined terms.
There are three choices for loan periods:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the quantity of collateral that you installed. Instead, it depends on the type of plan you select.
YouHodler uses the same interest rate for all its users. As the community grows, the supplier 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 help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Strong Insurance. Crypto possessions are guaranteed for approximately $150 million.
Stablecoin Interest. YouHodler uses a few of the very best rate of interest for stablecoins.
Special Features. You’ll discover cool items such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Versatile Terms. You can increase the duration of your loans at any time.
High LTV. The top 20 coins can be used as collateral 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 use as collateral, you can just receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Headquarters: 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 borrowing: 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 unpredictable creatures. To make a profit, you have to be good at trading them or just hold and hope your crypto gains in worth. Neither method is especially easy to do because of volatility.
What if you might just deposit your crypto someplace and make interest on it. It pays high interest on cost savings. If you’re in the market for a crypto-backed loan, Youhodler can handle 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. Can I Trust Youhodler
The company’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States along with in about a dozen other countries.