Looking for Blockfi Loan Reddit…YouHodler is a Swiss-based business that functions as a crypto-backed loan company. Among its primary concepts is that you can still HODL, without having to await a spike to sell.
It enables users to obtain fiat funds instantly, based upon the value of their cryptocurrency property holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most advantageous feature would be the alternative to withdraw fiat to a personal bank account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be improbable to think about YouHodler as a bank for your cryptocurrency. It is effective and fast, allowing users to move their crypto possessions with ease.
The platform concentrates on providing a well-rounded experience for its users. You will find everything that a crypto owner or a financier would potentially need. Simply put, YouHodler provides a variety 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, convert it to fiat, and hold the funds for financial investment purposes in your wallet. The business offers dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Blockfi Loan Reddit
Perhaps the most noteworthy feature at YouHodler is its ability to provide you loans. A financier might think about these funding opportunities as a means of hedging. Crucially, it offers you access to a versatile path to enter 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 removes a big part of the risk that accompanies financial investment options.
YouHodler is certainly a leading player in this area– not least due to the fact that it provides a top-rate loan-to-value ratio of approximately 90%. Exceeding its rivals, YouHodler accepts 15 different 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 interest rates 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 provides you a couple of choices to choose how you wish 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 demand utilizing your crypto possessions as security
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will instantly get the security back, despite whether its value has increased.
As you can see from the above, the process is as seamless as it could be. The company does not carry out any credit history checks or require time to consider whether you are eligible for a loan. On the contrary, if you have enough security and a confirmed account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different plans for loans that come with predefined terms.
There are three alternatives for loan periods:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not figured out by the amount of collateral that you set up. Rather, it depends on the type of strategy you pick.
YouHodler uses the exact same interest rate for all its users. As the community grows, the service provider hopes that its interest rates will also drop accordingly. YouHodler also has an affiliate program to motivate its users to invite others to join the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance. Crypto possessions are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler uses some of the best rate of interest for stablecoins.
Distinct Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you won’t discover anywhere else.
Flexible Terms. You can increase the period 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 competitors.
Currencies to Obtain. Depending upon the currencies you use as collateral, you can just receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered to make 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, ASSOCIATE, and 15 other popular coins with the list growing.
Type of service: Direct lending.
Cryptocurrencies are volatile creatures. To earn a profit, you need to be good at trading them or just hold and hope your crypto gains in value. Neither technique is especially easy to do because of volatility.
What if you could simply deposit your crypto somewhere and earn interest on it. It pays high interest on cost savings. If you’re in the market for a crypto-backed loan, Youhodler can deal with that also given that it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto loaning and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Blockfi Loan Reddit
The company’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States in addition to in about a lots other countries.