Looking for Crypto Compound Interest…YouHodler is a Swiss-based company that functions as a crypto-backed loan provider. One of its primary ideas is that you can still HODL, without needing to wait for a spike to sell.
It enables users to borrow fiat funds immediately, based on the value of their cryptocurrency asset holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most helpful function would be the option to withdraw fiat to a personal savings account or personal 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 efficient and fast, enabling users to move their crypto assets with ease.
The platform focuses on delivering a well-rounded experience for its users. You will discover whatever that a crypto owner or a financier would possibly need. To put it simply, YouHodler provides a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is designed with simplicity and performance in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for financial investment purposes in your wallet. The business provides devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Crypto Compound Interest
Possibly the most noteworthy function at YouHodler is its ability to provide you loans. A financier could think about these financing chances as a means of hedging. Crucially, it provides you access to a flexible path 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 huge part of the danger that accompanies financial investment options.
YouHodler is unquestionably a leading player in this space– not least because it uses a top-rate loan-to-value ratio of up to 90%. Exceeding its rivals, YouHodler accepts 15 different digital coins as collateral.
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 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 process that YouHodler has in place.
YouHodler gives you a few alternatives to choose how you want to back your loan. You can get a loan amount in fiat or Bitcoin– and you utilize several altcoins as security.
The preliminary application procedure works as follows:
Make a demand using your crypto possessions as collateral
Immediately get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will instantly get the security back, no matter whether its value has actually increased.
As you can see from the above, the process is as seamless as it could be. The business does not perform any credit rating checks or require time to think about whether you are qualified for a loan. On the contrary, if you have adequate collateral and a confirmed account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various plans for loans that feature predefined terms.
There are 3 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 security that you put up. Rather, it depends on the kind of plan you pick.
YouHodler uses the exact same interest rate for all its users. As the community grows, the provider hopes that its rate of interest will likewise drop appropriately. YouHodler also has an affiliate program to motivate its users to invite others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of methods to keep your funds safe..
Strong Insurance coverage. Crypto possessions are insured for up to $150 million.
Stablecoin Interest. YouHodler offers some of the very best interest rates for stablecoins.
Distinct Functions. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t find anywhere else.
Flexible Terms. You can increase the period 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 Borrow. Depending upon the currencies you utilize as security, you can just receive loans in USD, EUR, GBP, and BTC..
Year established: 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 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 lending.
Cryptocurrencies are unpredictable creatures. To make a profit, you have to be proficient at trading them or simply hold and hope your crypto gains in value. Because of volatility, neither technique is especially easy to do.
If you might simply transfer your crypto someplace and earn interest on it, what. By doing this, if the price increases by a small amount or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. If you’re in the marketplace for a crypto-backed loan, Youhodler can handle that likewise given that it loans out its crypto on deposits. Let’s see how it works.
YouHodler is a cryptocurrency exchange that specializes in crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Crypto Compound Interest
The business’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States in addition to in about a lots other countries.