Looking for Youhodler Credit Card Review Reddit…YouHodler is a Swiss-based company that functions as a crypto-backed loan company. One of its main concepts is that you can still HODL, without having to wait on a spike to sell.
It enables users to borrow 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 option to withdraw fiat to an individual checking account or individual charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be far-fetched to think about YouHodler as a bank for your cryptocurrency. It is fast and effective, enabling users to move their crypto assets with ease.
The platform focuses on delivering 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 possessions.
YouHodler’s wallet is created with simplicity and performance in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for investment purposes in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Credit Card Review Reddit
Maybe the most notable feature at YouHodler is its ability to use you loans. An investor might think about these funding opportunities as a means of hedging. Most importantly, it offers you access to a versatile path to go into 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 eliminates a big part of the danger that accompanies investment options.
YouHodler is undoubtedly a leading player in this space– not least because it uses a top-rate loan-to-value ratio of approximately 90%. Outmatching its rivals, YouHodler accepts 15 various 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 interest rates on crypto loans are relatively 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 process that YouHodler has in location.
YouHodler offers you a few options to choose how you wish to back your loan. You can make an application for a loan quantity in fiat or Bitcoin– and you utilize numerous altcoins as collateral.
The initial application process works as follows:
Make a request using your crypto properties as security
Quickly get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will right away get the security back, despite whether its worth has actually increased.
As you can see from the above, the procedure is as seamless as it could be. The company does not perform any credit score checks or take some time to think about whether you are eligible for a loan. On the contrary, if you have enough security and a confirmed account, you are great 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 3 options for loan durations:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not identified by the amount of collateral that you installed. Rather, it depends on the type of strategy you select.
YouHodler uses the exact same rate of interest for all its users. As the neighborhood grows, the service provider hopes that its rates 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 assist accelerate this objective.
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.
Special Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you won’t find anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The top 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 only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered 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, REP, and 15 other popular coins with the list growing.
Type of service: Direct loaning.
Cryptocurrencies are volatile animals. To make a profit, you need to be proficient at trading them or simply hold and hope your crypto gains in worth. Neither method is particularly easy to do because of volatility.
What if you could just deposit your crypto somewhere 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 lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Credit Card Review Reddit
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States as well as in about a lots other countries.