Looking for Crypto-to-crypto Loans Use Cases…YouHodler is a Swiss-based business that acts as a crypto-backed loan company. One of its main ideas is that you can still HODL, without needing to wait on a spike to sell.
It permits users to borrow fiat funds immediately, based on the value of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial feature would be the choice to withdraw fiat to a personal savings 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 fast and efficient, allowing users to move their crypto assets with ease.
The platform concentrates on providing a well-rounded experience for its users. You will find everything that a crypto owner or a financier would potentially need. In other words, YouHodler offers a range of services that lets you harness your digital properties.
YouHodler’s wallet is designed with simplicity and effectiveness in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for investment purposes in your wallet. The business offers devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Crypto-to-crypto Loans Use Cases
Possibly the most notable function at YouHodler is its ability to provide you loans. An investor might consider these funding chances as a means of hedging. Crucially, it gives you access to a versatile course to enter the cryptocurrency trading markets.
With a crypto-backed credit line, you can get fiat when you require it without touching your crypto portfolio at all. It removes a big part of the risk that accompanies financial investment choices.
YouHodler is undoubtedly a leading gamer in this area– not least because it provides a top-rate loan-to-value ratio of approximately 90%. Outmatching its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can receive both instantaneous cash 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 relatively 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 location.
YouHodler offers you a few alternatives to choose how you wish to back your loan. You can look for a loan quantity in fiat or Bitcoin– and you use multiple altcoins as security.
The initial application procedure works as follows:
Make a request using your crypto properties as collateral
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will immediately get the security back, regardless of whether its value has actually increased.
As you can see from the above, the procedure is as smooth as it could be. The company does not perform any credit rating checks or require time to consider whether you are qualified for a loan. On the contrary, if you have enough security and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different plans for loans that feature predefined terms.
There are 3 options for loan durations:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the quantity of collateral that you put up. Instead, it depends upon the type of strategy you select.
YouHodler provides the exact same interest rate for all its users. As the neighborhood grows, the provider hopes that its rate of interest will likewise drop appropriately. YouHodler likewise 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 many ways to keep your funds safe..
Solid Insurance coverage. Crypto possessions are guaranteed for approximately $150 million.
Stablecoin Interest. YouHodler uses some of the very best rate of interest for stablecoins.
Distinct Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you will not find 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 rather current compared to its competitors.
Currencies to Borrow. Depending on the currencies you use as security, you can only get loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies readily available to make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies available for borrowing: 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 volatile creatures. To make 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 method is particularly easy to do.
If you could simply transfer your crypto somewhere and make interest on it, what. This way, if the cost boosts by a small amount or not at all, you can still earn a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can deal with that also considering that it loans 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 lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Crypto-to-crypto Loans Use Cases
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States in addition to in about a dozen other countries.