Looking for Bitcoin Loan Story…YouHodler is a Swiss-based business that functions as a crypto-backed loan company. Among its main ideas is that you can still HODL, without needing to wait for a spike to offer.
It enables users to obtain fiat funds quickly, 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 checking account or personal charge card. Users can likewise hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to consider 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 providing a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would possibly require. Simply put, YouHodler offers a range of services that lets you harness your digital properties.
YouHodler’s wallet is developed with simpleness and efficiency in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for investment functions in your wallet. The business uses dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Bitcoin Loan Story
Possibly the most notable feature at YouHodler is its capability to offer you loans. A financier might think about these funding opportunities as a means of hedging. Crucially, it provides 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 need it without touching your crypto portfolio at all. It removes a huge part of the threat that accompanies investment choices.
YouHodler is certainly a leading player in this space– not least because it provides a top-rate loan-to-value ratio of approximately 90%. Outmatching its rivals, YouHodler accepts 15 various digital coins as security.
Users can receive 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 fairly 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 couple of alternatives to select how you want to back your loan. You can look for a loan amount in fiat or Bitcoin– and you utilize several altcoins as collateral.
The initial application process works as follows:
Make a request using your crypto assets as security
Quickly get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will immediately get the security back, despite whether its worth 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 score checks or take some time to consider whether you are eligible for a loan. On the contrary, if you have adequate collateral and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various packages for loans that include predefined terms.
There are 3 choices for loan periods:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not figured out by the amount of security that you installed. Rather, it depends upon the kind of plan you choose.
YouHodler provides the same rates of interest for all its users. As the neighborhood grows, the company hopes that its rates of interest will also drop accordingly. YouHodler likewise has an affiliate program to encourage its users to invite others to join the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Strong Insurance. Crypto properties are insured for up to $150 million.
Stablecoin Interest. YouHodler offers some of the very best rates of interest for stablecoins.
Distinct Functions. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t find anywhere else.
Flexible Terms. You can increase the duration 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 rivals.
Currencies to Obtain. Depending on the currencies you utilize as security, you can only receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies readily available to earn 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, REPRESENTATIVE, and 15 other popular coins with the list growing.
Kind of service: Direct lending.
Cryptocurrencies are volatile creatures. To make a profit, you need to be good at trading them or just hold and hope your crypto gains in value. Neither approach is especially easy to do because of volatility.
What if you could 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 deal with that also given that it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Bitcoin Loan Story
The company’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 nations.