Looking for Okay Coin Loan App…YouHodler is a Swiss-based company that acts as a crypto-backed loan company. Among its main principles is that you can still HODL, without needing to wait on a spike to offer.
It enables users to obtain fiat funds instantly, based upon the value of their cryptocurrency possession holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most advantageous function would be the choice to withdraw fiat to an individual checking account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be improbable to think about YouHodler as a bank for your cryptocurrency. It is effective and quick, permitting users to move their crypto properties with ease.
The platform focuses on providing a well-rounded experience for its users. You will find whatever that a crypto owner or an investor would perhaps require. In other words, YouHodler uses a variety of services that lets you harness your digital properties.
YouHodler’s wallet is created with simpleness and effectiveness in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for financial investment functions in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Okay Coin Loan App
Perhaps the most significant function at YouHodler is its capability to offer you loans. An investor might think about these funding opportunities as a means of hedging. Crucially, it provides you access to a flexible course to get in the cryptocurrency trading markets.
With a crypto-backed line of credit, you can get fiat when you require it without touching your crypto portfolio at all. It gets rid of a huge part of the threat that accompanies investment options.
YouHodler is undoubtedly a leading gamer in this area– not least because it provides a top-rate loan-to-value ratio of up to 90%. Exceeding its competitors, YouHodler accepts 15 different digital coins as security.
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 rates of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in location.
YouHodler offers you a couple of alternatives to pick how you wish to back your loan. You can look for a loan amount in fiat or Bitcoin– and you utilize numerous altcoins as collateral.
The initial application procedure works as follows:
Make a demand using your crypto possessions as collateral
Quickly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will instantly get the security 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 company does not carry out any credit rating 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 verified account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various packages for loans that feature predefined terms.
There are three options for loan durations:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not determined by the quantity of collateral that you installed. Instead, it depends upon the type of strategy you pick.
YouHodler offers the same interest rate for all its users. As the neighborhood grows, the service provider hopes that its rates of interest will also drop accordingly. YouHodler also has an affiliate program to motivate its users to invite others to sign up with the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance. Crypto assets are insured for approximately $150 million.
Stablecoin Interest. YouHodler offers a few of the best rates of interest 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 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 rivals.
Currencies to Borrow. Depending on the currencies you utilize as security, you can just receive 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 offered 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 financing.
Cryptocurrencies are volatile creatures. To earn a profit, you need to be proficient at trading them or just hold and hope your crypto gains in worth. Since of volatility, neither approach is particularly simple to do.
What if you might simply deposit your crypto somewhere and earn interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can manage that likewise since it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Okay Coin Loan App
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 as well as in about a dozen other countries.