Looking for Crypto Lending Platform Shutdown…YouHodler is a Swiss-based company that works as a crypto-backed loan provider. Among its primary ideas is that you can still HODL, without needing to wait for a spike to offer.
It allows users to borrow fiat funds quickly, based upon the worth 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 function would be the alternative to withdraw fiat to a personal checking account or individual credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to consider YouHodler as a bank for your cryptocurrency. It is effective and fast, enabling users to move their crypto assets 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. Simply put, YouHodler offers a variety of services that lets you harness your digital properties.
YouHodler’s wallet is created with simpleness and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Crypto Lending Platform Shutdown
Perhaps the most notable function at YouHodler is its ability to provide you loans. A financier might consider these funding 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 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 financial investment choices.
YouHodler is undoubtedly a leading player in this space– not least due to the fact that it provides a top-rate loan-to-value ratio of approximately 90%. Surpassing its competitors, YouHodler accepts 15 different digital coins as security.
Users can get both immediate cash 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 could get your interest rate as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler provides you a few options to pick how you want to back your loan. You can get a loan amount in fiat or Bitcoin– and you use several altcoins as security.
The initial application procedure works as follows:
Make a demand using 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 immediately get the security back, no matter whether its worth has 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 history checks or take some time to think about whether you are eligible for a loan. On the contrary, if you have sufficient security and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that come with predefined terms.
There are 3 options for loan durations:.
One 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 put up. Instead, it depends on the kind of plan you select.
YouHodler offers the exact same rate of interest for all its users. As the community grows, the provider hopes that its interest rates will also drop accordingly. YouHodler also has an affiliate program to motivate its users to welcome others to sign up with the platform to help accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Solid Insurance coverage. Crypto properties are insured for as much as $150 million.
Stablecoin Interest. YouHodler provides a few 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.
Versatile 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 quite current compared to its competitors.
Currencies to Obtain. Depending on the currencies you use as collateral, you can just get loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: 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 readily available for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and 15 other popular coins with the list growing.
Type of service: Direct lending.
Cryptocurrencies are unpredictable creatures. To earn a profit, you have to be proficient at trading them or just hold and hope your crypto gains in worth. Neither method is particularly easy to do because of volatility.
If you might simply transfer your crypto somewhere and make interest on it, what. In this manner, if the price increases by a percentage or not at all, you can still earn a profit. That’s what YouHodler does. It pays high interest on cost savings. Youhodler can manage that also because 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 specializes in crypto loaning and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Crypto Lending Platform Shutdown
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.