Looking for Crypto Lending Shutdown…YouHodler is a Swiss-based business that serves as a crypto-backed loan provider. Among its primary concepts is that you can still HODL, without having to wait for a spike to sell.
It allows users to borrow fiat funds quickly, based on the worth of their cryptocurrency possession holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most advantageous function would be the choice to withdraw fiat to a personal checking account or personal credit card. Users can likewise 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 efficient and quick, enabling users to transfer their crypto possessions with ease.
The platform focuses on delivering a well-rounded experience for its users. You will find whatever that a crypto owner or a financier would potentially need. In other words, YouHodler offers a variety of services that lets you harness your digital assets.
YouHodler’s wallet is designed with simplicity and efficiency in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for financial investment purposes in your wallet. The business provides devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Crypto Lending Shutdown
Maybe the most noteworthy function at YouHodler is its ability to offer you loans. A financier might think about these funding chances as a means of hedging. Most importantly, it provides you access to a flexible course to get in 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 removes a big part of the danger that accompanies investment choices.
YouHodler is certainly a leading gamer in this space– not least because it offers a top-rate loan-to-value ratio of up to 90%. Surpassing its competitors, YouHodler accepts 15 various digital coins as collateral.
Users can receive 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 might get your rate of interest as low as 2.5%.
Now let’s break down the loan process that YouHodler has in place.
YouHodler offers you a few choices to choose how you wish to back your loan. You can look for a loan quantity in fiat or Bitcoin– and you utilize multiple altcoins as security.
The initial application process works as follows:
Make a request using your crypto possessions as collateral
Immediately get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will right away get the security back, regardless of whether its value has actually increased.
As you can see from the above, the process is as seamless as it could be. The company does not carry out any credit report checks or require time to think about whether you are eligible for a loan. On the contrary, if you have sufficient collateral and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various plans for loans that include predefined terms.
There are 3 choices for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the amount of collateral that you put up. Instead, it depends upon the type of strategy you pick.
YouHodler provides the very same rate of interest for all its users. As the community grows, the company hopes that its rates of interest will also drop accordingly. YouHodler also 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 numerous methods to keep your funds safe..
Strong Insurance. Crypto properties are insured for up to $150 million.
Stablecoin Interest. YouHodler uses a few of the best rates of interest for stablecoins.
Special Functions. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you will not find 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 security with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is quite recent compared to its rivals.
Currencies to Obtain. 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 make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies available 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 make a profit, you need to be good at trading them or just hold and hope your crypto gains in worth. Because of volatility, neither method is particularly simple to do.
What if you could simply deposit your crypto someplace and make interest on it. By doing this, if the rate increases by a small amount or not at all, you can still earn a profit. That’s what YouHodler does. It pays high interest on cost savings. If you remain in the market for a crypto-backed loan, Youhodler can deal with that also given that it lends out its crypto on deposits. Let’s see how it works.
YouHodler is a cryptocurrency exchange that specializes in crypto lending and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Crypto Lending Shutdown
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 in addition to in about a lots other countries.