Looking for Youhodler Reddit Review…YouHodler is a Swiss-based company that acts as a crypto-backed loan provider. One of its main concepts is that you can still HODL, without needing to await a spike to sell.
It permits users to borrow fiat funds quickly, based upon the worth of their cryptocurrency asset holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most beneficial feature 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 quick and effective, enabling users to move their crypto assets with ease.
The platform concentrates on providing a well-rounded experience for its users. You will discover everything that a crypto owner or a financier would potentially require. Simply put, YouHodler uses a range of services that lets you harness your digital possessions.
YouHodler’s wallet is developed with simplicity and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment functions in your wallet. The business offers devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Reddit Review
Maybe the most notable feature at YouHodler is its ability to use you loans. A financier might think about these financing chances as a means of hedging. Most importantly, it offers you access to a flexible path to get in 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 gets rid of a huge part of the threat that accompanies financial investment choices.
YouHodler is certainly a leading gamer in this space– not least due to the fact that it offers a top-rate loan-to-value ratio of up to 90%. Outpacing its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can get both immediate cash 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 fairly reasonably at 12% APR. If you are taking out a short-term loan, you might get your rate of interest as low as 2.5%.
Now let’s break down the loan process that YouHodler has in place.
YouHodler provides you a few choices to choose how you want to back your loan. You can apply for a loan amount in fiat or Bitcoin– and you utilize multiple altcoins as collateral.
The initial application procedure works as follows:
Make a request utilizing your crypto properties as security
Quickly get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will instantly get the collateral back, no matter whether its value has 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 report checks or require time to consider whether you are eligible for a loan. On the contrary, if you have enough collateral and a confirmed account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various bundles for loans that feature predefined terms.
There are three options for loan durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not determined by the amount of security that you set up. Instead, it depends upon the kind of strategy you choose.
YouHodler offers the very same rate of interest for all its users. As the neighborhood grows, the company hopes that its interest rates will likewise drop accordingly. 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 methods to keep your funds safe..
Solid Insurance coverage. Crypto possessions are insured for up to $150 million.
Stablecoin Interest. YouHodler uses some of the very best interest rates for stablecoins.
Unique Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you won’t discover anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The leading 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 quite recent compared to its competitors.
Currencies to Borrow. Depending on the currencies you use as collateral, 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 offered to earn interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies readily available 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 lending.
Cryptocurrencies are unstable animals. To earn a profit, you have to be proficient at trading them or simply hold and hope your crypto gains in value. Due to the fact that of volatility, neither approach is especially easy to do.
What if you could simply deposit 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 manage that likewise given that it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto financing and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Reddit Review
The business’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States along with in about a lots other countries.