Looking for A Loan With Crypto Currency For Collateral…YouHodler is a Swiss-based business that acts as a crypto-backed loan service provider. Among its main concepts is that you can still HODL, without needing to wait on a spike to sell.
It enables users to borrow fiat funds immediately, based upon the worth of their cryptocurrency possession holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most beneficial function would be the option to withdraw fiat to an individual bank account or personal charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be far-fetched to consider YouHodler as a bank for your cryptocurrency. It is effective and quick, enabling users to move their crypto properties with ease.
The platform concentrates on providing a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would perhaps require. In other words, YouHodler provides a range of services that lets you harness your digital assets.
YouHodler’s wallet is designed with simplicity and performance in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for investment functions in your wallet. The business offers dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? A Loan With Crypto Currency For Collateral
Possibly the most noteworthy function at YouHodler is its ability to provide you loans. An investor might think about these funding opportunities as a means of hedging. Crucially, it offers you access to a flexible path to go into 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 risk that accompanies financial investment choices.
YouHodler is unquestionably a leading player in this space– not least due to the fact that it provides a top-rate loan-to-value ratio of up to 90%. Outpacing its competitors, YouHodler accepts 15 various 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 rate of interest on crypto loans are fairly reasonably at 12% APR. If you are taking out a short-term loan, you could get your rate of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler offers you a few alternatives to select how you want to back your loan. You can make an application for a loan quantity in fiat or Bitcoin– and you utilize multiple altcoins as security.
The preliminary application process works as follows:
Make a request utilizing your crypto possessions as security
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will immediately get the security back, regardless of 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 carry out any credit report checks or require time to think about whether you are eligible for a loan. On the contrary, if you have sufficient security and a validated account, you are great 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 alternatives for loan durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not figured out by the quantity of collateral that you put up. Instead, it depends on the type of plan you select.
YouHodler provides the exact same rate of interest for all its users. As the community grows, the 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 join the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Solid Insurance coverage. Crypto properties are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler uses some of the best rate of interest for stablecoins.
Special Features. You’ll find cool items such as the Multi HODL and the Turbocharge, which you will not 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 rather recent compared to its competitors.
Currencies to Borrow. Depending on the currencies you use as collateral, you can just get loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies available to make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies offered for loaning: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, ASSOCIATE, and 15 other popular coins with the list growing.
Type of service: Direct loaning.
Cryptocurrencies are unpredictable creatures. To make a profit, you have to be proficient at trading them or simply hold and hope your crypto gains in worth. Since of volatility, neither approach is particularly simple to do.
What if you might just transfer your crypto someplace 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 likewise considering that it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. A Loan With Crypto Currency For Collateral
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 dozen other countries.