Looking for Blockfi.Com Review…YouHodler is a Swiss-based company that functions as a crypto-backed loan provider. One of its primary ideas is that you can still HODL, without needing to await a spike to sell.
It permits users to borrow fiat funds instantly, based upon the worth of their cryptocurrency possession holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial function would be the option to withdraw fiat to a personal bank account or personal charge card. Users can likewise 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 quick and effective, permitting users to transfer their crypto properties with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will find everything that a crypto owner or an investor would perhaps need. In other words, YouHodler offers a range of services that lets you harness your digital assets.
YouHodler’s wallet is created with simplicity and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment functions in your wallet. The company offers dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
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Possibly the most noteworthy function at YouHodler is its capability to offer you loans. An investor might think about these funding opportunities as a means of hedging. Most importantly, 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 financial investment options.
YouHodler is certainly a leading gamer in this area– not least since it uses a top-rate loan-to-value ratio of as much as 90%. Outpacing its competitors, YouHodler accepts 15 various digital coins as security.
Users can receive both instant cash 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 interest rate as low as 2.5%.
Now let’s break down the loan process that YouHodler has in location.
YouHodler gives you a couple of alternatives to select how you want to back your loan. You can request a loan amount in fiat or Bitcoin– and you utilize numerous altcoins as security.
The initial application process works as follows:
Make a demand using your crypto assets as collateral
Immediately get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will immediately get the collateral back, regardless of whether its value has increased.
As you can see from the above, the process is as smooth as it could be. The business does not carry out any credit score checks or take time to think about whether you are eligible for a loan. On the contrary, if you have enough collateral and a confirmed account, you are great 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 durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not determined by the quantity of security that you installed. Rather, it depends upon the kind of plan you choose.
YouHodler provides the same interest rate for all its users. As the community grows, the supplier hopes that its rates of interest will likewise drop accordingly. YouHodler also has an affiliate program to motivate its users to invite others to join the platform to help accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place many methods to keep your funds safe..
Strong Insurance coverage. Crypto assets are insured for as much as $150 million.
Stablecoin Interest. YouHodler uses some of the best rate of interest for stablecoins.
Distinct Features. You’ll find 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 top 20 coins can be utilized 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 on the currencies you utilize as collateral, you can just get loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies available to make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies available for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and 15 other popular coins with the list growing.
Type of service: Direct financing.
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. Neither approach is especially easy to do because of volatility.
What if you could just deposit 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 manage that likewise given that 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. Blockfi.Com Review
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not available in the United States in addition to in about a lots other countries.