Looking for Blockfi Inc…YouHodler is a Swiss-based company that serves as a crypto-backed loan provider. Among its primary concepts is that you can still HODL, without needing to wait on a spike to sell.
It allows users to borrow fiat funds quickly, based upon the worth of their cryptocurrency possession holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most helpful feature would be the alternative to withdraw fiat to an individual bank account or personal credit 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 fast and efficient, permitting users to transfer their crypto possessions with ease.
The platform focuses on delivering a well-rounded experience for its users. You will discover whatever that a crypto owner or an investor would perhaps require. To put it simply, YouHodler uses a range of services that lets you harness your digital properties.
YouHodler’s wallet is designed with simplicity and efficiency in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Blockfi Inc
Maybe the most notable function at YouHodler is its ability to offer you loans. A financier might think about these financing chances as a means of hedging. Crucially, it offers you access to a flexible path to go into 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 gets rid of a big part of the threat that accompanies financial investment choices.
YouHodler is certainly a leading player in this space– not least due to the fact that it uses a top-rate loan-to-value ratio of approximately 90%. Exceeding its rivals, YouHodler accepts 15 various digital coins as collateral.
Users can get 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 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 procedure that YouHodler has in place.
YouHodler provides you a couple of options to choose how you wish to back your loan. You can get a loan amount in fiat or Bitcoin– and you use numerous altcoins as collateral.
The preliminary application process works as follows:
Make a request utilizing your crypto properties 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 collateral back, no matter whether its worth has increased.
As you can see from the above, the process is as seamless as it could be. The business does not perform any credit history checks or require time to consider whether you are eligible for a loan. On the contrary, if you have sufficient collateral and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different bundles for loans that come with predefined terms.
There are three choices for loan durations:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not figured out by the amount of security that you put up. Instead, it depends on the kind of strategy you choose.
YouHodler offers the same interest rate for all its users. As the community grows, the provider hopes that its rate of interest will also drop appropriately. YouHodler likewise has an affiliate program to encourage its users to welcome others to join the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Strong Insurance. Crypto assets are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler uses a few of the best rates of interest for stablecoins.
Distinct Functions. You’ll find cool items such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Flexible 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 rather current compared to its competitors.
Currencies to Borrow. Depending upon 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 readily available to earn interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies offered 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 lending.
Cryptocurrencies are volatile creatures. To make a profit, you need to be good at trading them or simply hold and hope your crypto gains in worth. Neither method is especially easy to do because of volatility.
What if you might simply transfer your crypto somewhere and make interest on it. In this manner, if the rate increases by a small amount or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can handle that also given that it lends 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 specializes in crypto financing and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Blockfi Inc
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.