Looking for Alternative To Blockfi…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 having to await a spike to offer.
It allows users to borrow fiat funds instantly, based on the value of their cryptocurrency property holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most helpful feature would be the alternative to withdraw fiat to a personal savings account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be improbable to consider YouHodler as a bank for your cryptocurrency. It is efficient and fast, permitting users to transfer their crypto assets with ease.
The platform focuses on providing a well-rounded experience for its users. You will find everything that a crypto owner or a financier would perhaps require. Simply put, YouHodler provides a range of services that lets you harness your digital possessions.
YouHodler’s wallet is developed with simplicity and efficiency in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Alternative To Blockfi
Perhaps the most noteworthy function at YouHodler is its capability to provide you loans. A financier could think about these funding opportunities as a means of hedging. Crucially, it gives you access to a flexible course 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 removes a big part of the danger that accompanies investment options.
YouHodler is certainly a leading gamer in this space– not least because it offers a top-rate loan-to-value ratio of as much as 90%. Outpacing its rivals, YouHodler accepts 15 various digital coins as collateral.
Users can receive both instantaneous money 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 rate of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler provides you a couple of alternatives to pick how you want to back your loan. You can obtain a loan quantity in fiat or Bitcoin– and you utilize several altcoins as collateral.
The initial application process works as follows:
Make a demand utilizing your crypto possessions as security
Immediately get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will immediately get the security back, despite whether its value has actually increased.
As you can see from the above, the process is as smooth as it could be. The business does not perform any credit score checks or take time to consider whether you are qualified for a loan. On the contrary, if you have sufficient collateral and a verified account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has different bundles for loans that include predefined terms.
There are 3 choices for loan durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not identified by the amount of security that you installed. Rather, it depends on the kind of plan you choose.
YouHodler offers the exact same interest rate for all its users. As the neighborhood grows, the service provider hopes that its interest rates will likewise drop appropriately. YouHodler also has an affiliate program to encourage its users to invite others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance coverage. Crypto possessions are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler offers 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 won’t discover anywhere else.
Flexible Terms. You can increase the period of your loans at any time.
High LTV. The top 20 coins can be used 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 rivals.
Currencies to Obtain. Depending on the currencies you utilize as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies available to earn 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, REPRESENTATIVE, and 15 other popular coins with the list growing.
Type of service: Direct loaning.
Cryptocurrencies are volatile creatures. To make a profit, you have to be proficient at trading them or just hold and hope your crypto gains in worth. Due to the fact that of volatility, neither technique is particularly simple to do.
What if you might simply transfer your crypto somewhere and make interest on it. In this manner, if the price boosts by a percentage or not at all, you can still earn a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can handle that likewise considering that it loans out its crypto on deposits if you’re in the market for a crypto-backed loan. Let’s see how it works.
YouHodler is a cryptocurrency exchange that specializes in crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Alternative To Blockfi
The business’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not available in the United States along with in about a lots other nations.