Looking for Blockfi Canada Interest Rates…YouHodler is a Swiss-based company that acts as a crypto-backed loan service provider. Among its primary principles is that you can still HODL, without needing to await a spike to sell.
It permits 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 advantageous function would be the option to withdraw fiat to an individual bank account or personal credit card. Users can also 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 fast, permitting users to move their crypto properties with ease.
The platform focuses on providing a well-rounded experience for its users. You will find whatever that a crypto owner or a financier would perhaps require. To put it simply, YouHodler offers a range of services that lets you harness your digital properties.
YouHodler’s wallet is developed with simpleness and performance in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The business uses devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
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Perhaps the most notable feature at YouHodler is its capability to provide you loans. An investor might think about these funding opportunities as a means of hedging. Crucially, it provides you access to a flexible path to enter 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 eliminates a huge part of the danger that accompanies investment options.
YouHodler is certainly a leading player in this space– not least because it uses a top-rate loan-to-value ratio of as much as 90%. Outpacing its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can get both instantaneous money 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 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 choose how you want to back your loan. You can request a loan quantity in fiat or Bitcoin– and you use several altcoins as collateral.
The preliminary application procedure works as follows:
Make a demand using your crypto assets as security
Quickly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will instantly get the security back, regardless of whether its value has actually increased.
As you can see from the above, the procedure is as smooth as it could be. The company does not perform any credit score checks or take some time to think about whether you are eligible for a loan. On the contrary, if you have adequate security and a confirmed account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various plans 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 interest rate is not determined by the quantity of security that you put up. Instead, it depends upon the kind of plan you choose.
YouHodler uses the 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 motivate its users to welcome others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Solid Insurance. Crypto properties are insured for as much as $150 million.
Stablecoin Interest. YouHodler uses a few of the very best rates of interest for stablecoins.
Special Functions. You’ll discover cool items 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 used as collateral 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 Obtain. Depending on the currencies you use as security, you can just get loans in USD, EUR, GBP, and BTC..
Year established: 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 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 animals. To make a profit, you need to be good at trading them or simply hold and hope your crypto gains in value. Since of volatility, neither technique is especially easy to do.
What if you might simply transfer your crypto somewhere and make interest on it. It pays high interest on cost savings. If you’re in the market for a crypto-backed loan, Youhodler can handle that likewise since it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto financing and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Blockfi Canada Interest Rates
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 dozen other nations.