Looking for Bitcoin Loan Shark…YouHodler is a Swiss-based company that works as a crypto-backed loan service provider. Among its main ideas is that you can still HODL, without needing to await a spike to sell.
It permits users to obtain fiat funds immediately, based upon the worth of their cryptocurrency asset holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most useful function would be the alternative to withdraw fiat to an individual savings account or individual credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to think about YouHodler as a bank for your cryptocurrency. It is efficient and quick, allowing users to transfer their crypto properties with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will discover everything that a crypto owner or a financier would possibly require. Simply put, YouHodler offers a variety of services that lets you harness your digital assets.
YouHodler’s wallet is created with simpleness 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 uses devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Bitcoin Loan Shark
Maybe the most noteworthy feature at YouHodler is its ability to provide you loans. A financier could consider these financing opportunities as a means of hedging. Crucially, it offers you access to a versatile path to get in 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 eliminates a big part of the danger that accompanies investment options.
YouHodler is certainly a leading player in this area– not least due to the fact that it uses a top-rate loan-to-value ratio of as much as 90%. Exceeding its rivals, YouHodler accepts 15 different 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 rates 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 process that YouHodler has in place.
YouHodler provides you a couple of alternatives to pick how you want to back your loan. You can look for a loan amount in fiat or Bitcoin– and you utilize multiple altcoins as security.
The initial application process works as follows:
Make a request using your crypto properties as collateral
Instantly receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you repay the loan, you will instantly get the security back, no matter whether its worth has actually increased.
As you can see from the above, the procedure is as seamless as it could be. The business does not perform any credit history checks or require time to consider whether you are qualified for a loan. On the contrary, if you have adequate security and a verified account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that include predefined terms.
There are 3 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 quantity of security that you installed. Instead, it depends on the kind of plan you pick.
YouHodler uses the exact same rates of interest for all its users. As the neighborhood grows, the company hopes that its rate of interest will also drop accordingly. YouHodler also has an affiliate program to encourage its users to welcome others to join the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous methods to keep your funds safe..
Solid Insurance coverage. Crypto properties are insured for up to $150 million.
Stablecoin Interest. YouHodler offers some of the very best rates of interest for stablecoins.
Distinct Features. You’ll discover cool items 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 utilized as security with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is rather current compared to its competitors.
Currencies to Borrow. Depending upon the currencies you utilize as security, you can just receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Headquarters: 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 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 just hold and hope your crypto gains in worth. Neither technique is particularly easy to do because of volatility.
What if you could 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 deal with that also since it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto loaning and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Bitcoin Loan Shark
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 in addition to in about a dozen other countries.