Looking for How To Borrow Bitcoins…YouHodler is a Swiss-based company that functions as a crypto-backed loan service provider. One of its primary ideas is that you can still HODL, without having to wait on a spike to sell.
It enables users to obtain fiat funds quickly, based on the worth of their cryptocurrency possession 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 option 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 far-fetched to consider YouHodler as a bank for your cryptocurrency. It is efficient and fast, enabling users to transfer their crypto properties with ease.
The platform focuses on providing a well-rounded experience for its users. You will discover 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 possessions.
YouHodler’s wallet is created with simplicity and efficiency in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The business uses devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? How To Borrow Bitcoins
Maybe the most significant feature at YouHodler is its capability to offer you loans. An investor might consider these funding opportunities as a means of hedging. Most importantly, it offers you access to a flexible path to go into 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 huge part of the danger that accompanies financial investment choices.
YouHodler is certainly a leading player in this space– not least since it provides a top-rate loan-to-value ratio of as much as 90%. Outmatching its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can receive both instant 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 fairly reasonably at 12% APR. If you are taking out a short-term loan, you could get your rates of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in location.
YouHodler provides you a few options to select how you wish to back your loan. You can get a loan amount in fiat or Bitcoin– and you use numerous 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).
Once you repay the loan, you will instantly get the security back, regardless of whether its value has increased.
As you can see from the above, the process is as seamless as it could be. The business does not carry out any credit report checks or take some time to think about whether you are eligible for a loan. On the contrary, if you have sufficient collateral and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has different bundles for loans that come with predefined terms.
There are three choices for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the quantity of security that you installed. Rather, it depends on the kind of strategy you select.
YouHodler uses the same rate of interest for all its users. As the neighborhood grows, the company hopes that its rate of interest will likewise 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 objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance coverage. Crypto assets are insured for as much as $150 million.
Stablecoin Interest. YouHodler uses a few of the very best rate of interest for stablecoins.
Special Functions. You’ll find cool items 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 leading 20 coins can be used as security with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is quite recent compared to its rivals.
Currencies to Borrow. Depending on the currencies you utilize as security, you can just get loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: 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 offered for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REPRESENTATIVE, and 15 other popular coins with the list growing.
Kind of service: Direct lending.
Cryptocurrencies are unstable animals. To earn a profit, you need to be good at trading them or simply hold and hope your crypto gains in value. Neither approach is particularly easy to do because of volatility.
What if you could just transfer your crypto someplace and earn 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 specializes in crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. How To Borrow Bitcoins
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not available in the United States in addition to in about a dozen other nations.