Looking for Blockfi Review Reddit…YouHodler is a Swiss-based company that acts as a crypto-backed loan provider. One of its main principles is that you can still HODL, without having to await a spike to offer.
It enables users to borrow fiat funds instantly, based on the value of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial feature would be the choice 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 improbable to think about YouHodler as a bank for your cryptocurrency. It is efficient and quick, enabling users to move their crypto assets with ease.
The platform focuses on providing a well-rounded experience for its users. You will find whatever that a crypto owner or an investor would potentially require. In other words, YouHodler provides a variety of services that lets you harness your digital assets.
YouHodler’s wallet is created with simplicity and effectiveness in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for investment purposes in your wallet. The business provides devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Blockfi Review Reddit
Perhaps the most significant function at YouHodler is its capability to use you loans. An investor could consider these funding opportunities as a means of hedging. Most importantly, it offers you access to a flexible course to get in 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 risk that accompanies investment options.
YouHodler is unquestionably a leading gamer in this area– not least because it offers a top-rate loan-to-value ratio of up to 90%. Outmatching its rivals, YouHodler accepts 15 different digital coins as security.
Users can receive both immediate money loans and crypto loans in USD, EURO, GBP, CHF, and even in Bitcoin( BTC) and Tether( USDT). The rates 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 process that YouHodler has in place.
YouHodler provides you a couple of options to select how you wish to back your loan. You can get a loan quantity in fiat or Bitcoin– and you use several altcoins as collateral.
The initial application procedure works as follows:
Make a demand using your crypto possessions as collateral
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will right away get the collateral back, no matter 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 require time to think about whether you are eligible for a loan. On the contrary, if you have adequate security and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different packages for loans that feature predefined terms.
There are 3 options for loan periods:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not identified by the amount of collateral that you installed. Rather, it depends on the kind of plan you choose.
YouHodler uses the exact same rates of interest for all its users. As the neighborhood grows, the supplier hopes that its rates of interest will likewise drop appropriately. YouHodler likewise has an affiliate program to motivate its users to invite others to sign up with the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many methods to keep your funds safe..
Strong Insurance. Crypto properties are insured for as much as $150 million.
Stablecoin Interest. YouHodler offers a few of the best rates of interest for stablecoins.
Unique Features. You’ll discover cool items such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Flexible Terms. You can increase the duration of your loans at any time.
High LTV. The leading 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 recent compared to its rivals.
Currencies to Obtain. Depending upon the currencies you utilize as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies readily 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, REPRESENTATIVE, and 15 other popular coins with the list growing.
Kind of service: Direct lending.
Cryptocurrencies are unstable animals. To make a profit, you have to be proficient at trading them or just hold and hope your crypto gains in value. Neither method is especially easy to do because of volatility.
What if you might just transfer your crypto somewhere and earn interest on it. In this manner, if the cost boosts by a percentage or not at all, you can still earn a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can manage 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 focuses on crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Blockfi Review Reddit
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 along with in about a dozen other countries.