Looking for Youhodler Is Down…YouHodler is a Swiss-based business that acts as a crypto-backed loan service provider. Among its primary ideas is that you can still HODL, without having to wait on a spike to offer.
It permits users to obtain fiat funds quickly, 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 helpful function would be the option to withdraw fiat to a personal checking account or individual charge card. Users can likewise hold their cryptocurrency in a YouHodler savings account.
It would not be improbable to consider YouHodler as a bank for your cryptocurrency. It is fast and effective, allowing users to move their crypto properties with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will find whatever that a crypto owner or an investor would perhaps need. Simply put, YouHodler provides a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is designed with simpleness and efficiency in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The business uses devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
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Perhaps the most noteworthy feature at YouHodler is its capability to offer you loans. A financier might think about these funding opportunities as a means of hedging. Most importantly, it provides you access to a versatile course to enter 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 removes a huge part of the danger that accompanies investment options.
YouHodler is undoubtedly a leading player in this area– not least due to the fact that it uses a top-rate loan-to-value ratio of approximately 90%. Exceeding its rivals, YouHodler accepts 15 different digital coins as collateral.
Users can get both instantaneous money 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 interest rate as low as 2.5%.
Now let’s break down the loan process that YouHodler has in place.
YouHodler gives you a few alternatives to choose how you want to back your loan. You can get a loan quantity in fiat or Bitcoin– and you use multiple altcoins as security.
The preliminary application procedure works as follows:
Make a request using your crypto properties as collateral
Instantly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you repay the loan, you will instantly get the collateral back, despite 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 perform any credit history checks or take 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 Quantities.
YouHodler has different bundles for loans that come with predefined terms.
There are three options for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not figured out by the amount of security that you installed. Instead, it depends on the kind of plan you choose.
YouHodler provides the very same interest rate for all its users. As the community grows, the service provider hopes that its rates of interest will also drop accordingly. YouHodler also has an affiliate program to encourage its users to invite others to join the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Solid Insurance coverage. Crypto properties are insured for up to $150 million.
Stablecoin Interest. YouHodler offers a few 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 won’t find anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The leading 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 quite recent compared to its rivals.
Currencies to Borrow. Depending upon the currencies you utilize as security, you can just receive loans in USD, EUR, GBP, and BTC..
Year established: 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.
Type of service: Direct financing.
Cryptocurrencies are unpredictable animals. To make a profit, you need to be good at trading them or just hold and hope your crypto gains in value. Due to the fact that of volatility, neither technique is especially simple to do.
What if you might simply transfer your crypto somewhere and make interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can handle that also considering that it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto lending and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Is Down
The company’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.