Looking for Open Interest Crypto Longs Pay Shorts…YouHodler is a Swiss-based company that acts as a crypto-backed loan provider. Among its primary principles is that you can still HODL, without needing to wait for a spike to sell.
It allows users to obtain fiat funds instantly, based upon the value of their cryptocurrency possession holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most helpful feature would be the option to withdraw fiat to an individual checking account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to think about YouHodler as a bank for your cryptocurrency. It is effective and quick, allowing users to transfer their crypto properties with ease.
The platform focuses on delivering a well-rounded experience for its users. You will find everything that a crypto owner or an investor would potentially need. Simply put, YouHodler offers a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is developed with simpleness and performance in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for financial investment functions in your wallet. The business uses dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Open Interest Crypto Longs Pay Shorts
Perhaps the most noteworthy feature at YouHodler is its ability to offer you loans. A financier could consider these funding opportunities 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 investment choices.
YouHodler is certainly a leading gamer in this area– not least because it provides a top-rate loan-to-value ratio of up to 90%. Surpassing its rivals, YouHodler accepts 15 various 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 interest rates on crypto loans are relatively 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 choices to choose how you want to back your loan. You can request a loan amount in fiat or Bitcoin– and you utilize numerous altcoins as security.
The initial application process works as follows:
Make a request using your crypto possessions as security
Immediately receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will right away get the collateral back, no matter whether its worth has actually 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 score checks or take some time to consider whether you are eligible for a loan. On the contrary, if you have enough security and a verified account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different bundles for loans that feature predefined terms.
There are three options for loan periods:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not figured out by the amount of collateral that you set up. Instead, it depends upon the kind of strategy you select.
YouHodler provides the exact same rate of interest for all its users. As the community grows, the service provider hopes that its rate of interest will also drop appropriately. YouHodler likewise has an affiliate program to encourage its users to invite others to sign up with the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous methods to keep your funds safe..
Solid Insurance coverage. Crypto assets are insured for approximately $150 million.
Stablecoin Interest. YouHodler provides some of the best interest rates for stablecoins.
Unique Functions. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you will not find anywhere else.
Versatile Terms. You can increase the duration 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 Obtain. Depending upon the currencies you utilize as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year founded: 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 available for loaning: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REPRESENTATIVE, and 15 other popular coins with the list growing.
Type of service: Direct loaning.
Cryptocurrencies are unpredictable creatures. To earn a profit, you need to be proficient 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 simply 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 manage that also because it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto loaning and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Open Interest Crypto Longs Pay Shorts
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 as well as in about a lots other nations.