Looking for Borrow Against Crypto…YouHodler is a Swiss-based company that functions as a crypto-backed loan company. Among its main principles is that you can still HODL, without having to wait on a spike to sell.
It allows users to obtain fiat funds immediately, based upon the value of their cryptocurrency possession holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most useful feature would be the option to withdraw fiat to a personal savings account or individual credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be improbable to consider YouHodler as a bank for your cryptocurrency. It is fast and effective, allowing users to transfer their crypto properties with ease.
The platform focuses on delivering a well-rounded experience for its users. You will discover everything that a crypto owner or a financier would potentially need. Simply put, 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 investment functions in your wallet. The business uses dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Borrow Against Crypto
Possibly the most notable function at YouHodler is its capability to use you loans. A financier could think about these funding opportunities as a means of hedging. Most importantly, it gives you access to a flexible course 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 danger that accompanies financial investment choices.
YouHodler is certainly a leading gamer in this area– not least since it offers a top-rate loan-to-value ratio of up to 90%. Surpassing its competitors, YouHodler accepts 15 different digital coins as security.
Users can receive both instantaneous 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 could get your rate of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler provides you a few options to choose how you wish to back your loan. You can look for a loan amount in fiat or Bitcoin– and you utilize numerous altcoins as security.
The initial application procedure works as follows:
Make a demand using your crypto properties as security
Instantly get 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, regardless of whether its worth has increased.
As you can see from the above, the procedure is as smooth as it could be. The company does not carry out any credit score checks or take some time to think about whether you are qualified for a loan. On the contrary, if you have enough security and a verified account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various bundles for loans that come with predefined terms.
There are 3 alternatives for loan periods:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not determined by the amount of collateral that you put up. Rather, it depends upon the type of strategy you choose.
YouHodler offers the exact same rate of interest for all its users. As the community grows, the service provider hopes that its rates of interest will likewise drop accordingly. YouHodler also has an affiliate program to encourage its users to invite others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Strong Insurance. Crypto possessions are insured for as much as $150 million.
Stablecoin Interest. YouHodler uses some of the very best rates 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 duration 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 quite current compared to its competitors.
Currencies to Borrow. Depending upon the currencies you use as security, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 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 offered for loaning: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REPRESENTATIVE, and 15 other popular coins with the list growing.
Kind of service: Direct loaning.
Cryptocurrencies are unstable creatures. To earn a profit, you need to be good at trading them or just hold and hope your crypto gains in worth. Because of volatility, neither technique is particularly easy to do.
What if you could just transfer 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 considering that it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Borrow Against Crypto
The company’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States as well as in about a lots other countries.