Looking for Blockfi Review Reddit 2021…YouHodler is a Swiss-based company that works as a crypto-backed loan service provider. Among its primary ideas is that you can still HODL, without having to wait on a spike to offer.
It permits users to borrow fiat funds quickly, based on 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 advantageous feature would be the option to withdraw fiat to a personal savings account or personal charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be far-fetched to consider YouHodler as a bank for your cryptocurrency. It is effective and fast, allowing users to transfer their crypto assets with ease.
The platform focuses on providing a well-rounded experience for its users. You will find everything 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 created with simplicity and effectiveness in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for financial investment purposes in your wallet. The company provides devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Blockfi Review Reddit 2021
Possibly the most notable function at YouHodler is its ability to use you loans. An investor might think about these financing chances as a means of hedging. Crucially, it offers you access to a versatile 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 eliminates a big part of the risk that accompanies financial investment options.
YouHodler is unquestionably a leading player in this space– not least since it offers a top-rate loan-to-value ratio of as much as 90%. Surpassing its competitors, YouHodler accepts 15 different digital coins as security.
Users can get both instantaneous money 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 could 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 options to select how you want to back your loan. You can make an application for a loan amount in fiat or Bitcoin– and you utilize multiple altcoins as security.
The initial application process works as follows:
Make a demand using your crypto assets as security
Quickly receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will instantly get the collateral back, regardless of whether its worth 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 history checks or take some time to consider whether you are eligible for a loan. On the contrary, if you have enough collateral and a validated account, you are excellent 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 3 alternatives for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not identified by the amount of collateral that you installed. Instead, it depends on the type of strategy you choose.
YouHodler provides the very same rates of interest for all its users. As the neighborhood grows, the supplier hopes that its rate of interest will likewise drop accordingly. 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 numerous ways to keep your funds safe..
Solid Insurance. Crypto possessions are insured for as much as $150 million.
Stablecoin Interest. YouHodler uses some of the best rates of interest for stablecoins.
Unique Features. You’ll discover cool products 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 used as collateral with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is rather recent compared to its rivals.
Currencies to Borrow. Depending upon the currencies you use as collateral, you can only get loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies available to earn 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, ASSOCIATE, and 15 other popular coins with the list growing.
Type of service: Direct financing.
Cryptocurrencies are volatile creatures. To earn a profit, you need to be proficient at trading them or simply hold and hope your crypto gains in value. Neither method is particularly 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 savings. If you’re in the market for a crypto-backed loan, Youhodler can deal with that also considering that it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto financing and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Blockfi Review Reddit 2021
The company’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not available in the United States along with in about a dozen other countries.