Looking for Crypto Lending Platform Rating…YouHodler is a Swiss-based business that works as a crypto-backed loan company. One of its primary concepts is that you can still HODL, without having to wait on a spike to sell.
It allows users to borrow fiat funds immediately, based on the value of their cryptocurrency asset holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most helpful function would be the choice to withdraw fiat to an individual checking 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 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 discover everything that a crypto owner or a financier would perhaps require. Simply put, YouHodler provides a range of services that lets you harness your digital properties.
YouHodler’s wallet is developed with simpleness and performance in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for investment functions in your wallet. The business provides dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Crypto Lending Platform Rating
Possibly the most significant function at YouHodler is its ability to provide you loans. A financier could consider these funding chances as a means of hedging. Most importantly, it offers you access to a flexible path to enter the cryptocurrency trading markets.
With a crypto-backed credit line, 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 player in this space– not least since it offers a top-rate loan-to-value ratio of approximately 90%. Exceeding its rivals, YouHodler accepts 15 different digital coins as collateral.
Users can receive both instant 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 gives you a couple of options to choose how you want to back your loan. You can apply for a loan amount in fiat or Bitcoin– and you use multiple altcoins as collateral.
The preliminary application procedure works as follows:
Make a demand using your crypto possessions as security
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will right away get the collateral back, no matter whether its worth has increased.
As you can see from the above, the process is as smooth as it could be. The business does not carry out any credit history checks or require time to think about whether you are qualified for a loan. On the contrary, if you have adequate security and a validated account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various plans for loans that come with predefined terms.
There are three choices for loan periods:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not determined by the quantity of security that you installed. Instead, it depends upon the type of strategy you pick.
YouHodler uses the same rates of interest for all its users. As the neighborhood grows, the supplier hopes that its rates of interest will likewise drop accordingly. YouHodler also has an affiliate program to encourage 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 lots of methods to keep your funds safe..
Strong Insurance coverage. Crypto assets are insured for as much as $150 million.
Stablecoin Interest. YouHodler provides some of the very best interest rates for stablecoins.
Special Functions. You’ll find 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 recent compared to its competitors.
Currencies to Borrow. Depending upon the currencies you use as collateral, you can only get loans in USD, EUR, GBP, and BTC..
Year founded: 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 readily available for loaning: 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 unpredictable creatures. To earn a profit, you need to be good at trading them or simply hold and hope your crypto gains in worth. Neither method is particularly easy to do because of volatility.
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 handle that likewise since it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto loaning and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Crypto Lending Platform Rating
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 nations.