Looking for Blockfi Bad Review…YouHodler is a Swiss-based business that works as a crypto-backed loan company. Among its primary concepts is that you can still HODL, without having to wait on a spike to sell.
It enables users to obtain fiat funds quickly, based on the value 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 feature would be the option to withdraw fiat to a personal bank account or individual charge 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 fast, permitting users to transfer their crypto assets with ease.
The platform focuses on providing a well-rounded experience for its users. You will discover whatever that a crypto owner or a financier would possibly need. In other words, YouHodler provides a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is developed with simpleness and performance in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for investment functions in your wallet. The company uses dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Blockfi Bad Review
Possibly the most noteworthy function at YouHodler is its capability to offer you loans. A financier could think about these financing chances 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 line of credit, 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 space– not least because it offers a top-rate loan-to-value ratio of up to 90%. Outpacing its rivals, YouHodler accepts 15 different digital coins as collateral.
Users can receive both immediate 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 relatively reasonably at 12% APR. If you are taking out a short-term loan, you could get your interest rate as low as 2.5%.
Now let’s break down the loan process that YouHodler has in place.
YouHodler offers you a couple of options to pick how you want to back your loan. You can obtain a loan amount in fiat or Bitcoin– and you use multiple altcoins as collateral.
The preliminary application procedure works as follows:
Make a demand utilizing your crypto possessions as collateral
Quickly receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you repay the loan, you will instantly get the security back, despite whether its worth has actually 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 score checks or take time to consider whether you are qualified for a loan. On the contrary, if you have adequate collateral and a confirmed account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that come with predefined terms.
There are 3 options for loan periods:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not determined by the amount of collateral that you set up. Rather, it depends upon the kind of plan you select.
YouHodler provides the very same rate of interest for all its users. As the neighborhood grows, the service provider hopes that its rates of interest will likewise drop accordingly. YouHodler also has an affiliate program to motivate its users to invite others to sign up with the platform to help accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of methods to keep your funds safe..
Strong Insurance. Crypto properties are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler uses a few of the best rate of interest for stablecoins.
Distinct Features. You’ll discover cool items such as the Multi HODL and the Turbocharge, which you will not find anywhere else.
Versatile Terms. You can increase the duration of your loans at any time.
High LTV. The leading 20 coins can be used 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 rivals.
Currencies to Borrow. Depending upon the currencies you utilize as collateral, you can only get 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 borrowing: 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 unpredictable animals. To earn a profit, you need to be good at trading them or just hold and hope your crypto gains in worth. Since of volatility, neither approach is particularly easy to do.
If you could just deposit your crypto somewhere and make interest on it, what. By doing this, if the price increases by a percentage or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can manage 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 focuses on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Blockfi Bad Review
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 as well as in about a dozen other countries.