Looking for Coin Loan App…YouHodler is a Swiss-based business that functions as a crypto-backed loan company. One of its primary principles is that you can still HODL, without having to await a spike to offer.
It allows users to borrow fiat funds immediately, based on 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 helpful function would be the alternative to withdraw fiat to a personal bank account or individual credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to think about YouHodler as a bank for your cryptocurrency. It is fast and effective, enabling users to move their crypto assets with ease.
The platform concentrates on providing a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would potentially require. In other words, YouHodler offers a range of services that lets you harness your digital assets.
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 functions in your wallet. The company provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Coin Loan App
Perhaps the most significant function at YouHodler is its capability to offer you loans. A financier could think about these financing opportunities as a means of hedging. Crucially, it gives you access to a flexible course to enter the cryptocurrency trading markets.
With a crypto-backed credit line, you can get fiat when you require it without touching your crypto portfolio at all. It gets rid of a huge part of the threat that accompanies investment options.
YouHodler is unquestionably a leading player in this space– not least since it uses a top-rate loan-to-value ratio of approximately 90%. Outpacing its rivals, YouHodler accepts 15 different digital coins as collateral.
Users can receive 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 relatively 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 few options to choose how you want to back your loan. You can apply for a loan quantity in fiat or Bitcoin– and you use multiple altcoins as security.
The initial application procedure works as follows:
Make a request using your crypto properties as collateral
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will instantly get the security back, despite 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 rating checks or require time to think about whether you are qualified for a loan. On the contrary, if you have enough collateral and a validated account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that come with predefined terms.
There are three alternatives for loan periods:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the amount of security that you set up. Rather, it depends upon the type of plan you select.
YouHodler uses the exact same rates of interest for all its users. As the community grows, the company hopes that its interest rates will likewise drop appropriately. YouHodler likewise 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 methods to keep your funds safe..
Strong Insurance. Crypto possessions are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler offers a few of the very best rate of interest for stablecoins.
Distinct Functions. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t find 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 on the currencies you utilize as collateral, you can just receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered 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 financing.
Cryptocurrencies are volatile animals. To earn a profit, you have to be proficient at trading them or just hold and hope your crypto gains in value. Due to the fact that of volatility, neither technique is especially easy to do.
What if you could simply deposit your crypto someplace 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 manage that likewise considering that it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Coin Loan App
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States along with in about a dozen other countries.