Looking for Crypto Lending Similar To Poloniex…YouHodler is a Swiss-based company that serves as a crypto-backed loan provider. Among its primary concepts is that you can still HODL, without needing to await a spike to sell.
It enables users to borrow fiat funds instantly, based upon the worth of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most helpful function would be the option to withdraw fiat to a personal checking account or personal charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to consider YouHodler as a bank for your cryptocurrency. It is effective and fast, allowing users to transfer their crypto possessions with ease.
The platform concentrates on providing a well-rounded experience for its users. You will discover whatever that a crypto owner or a financier would potentially need. To put it simply, YouHodler offers a range of services that lets you harness your digital possessions.
YouHodler’s wallet is designed with simplicity and effectiveness in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The company offers dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Crypto Lending Similar To Poloniex
Maybe the most notable feature at YouHodler is its capability to offer you loans. An investor could consider these financing opportunities as a means of hedging. Crucially, it provides you access to a versatile course to go into 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 eliminates a huge part of the risk that accompanies investment choices.
YouHodler is certainly a leading gamer in this space– not least since it offers a top-rate loan-to-value ratio of as much as 90%. Surpassing its rivals, YouHodler accepts 15 various digital coins as collateral.
Users can receive both instantaneous cash 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 procedure that YouHodler has in place.
YouHodler offers you a few options to select how you wish to back your loan. You can apply for a loan amount in fiat or Bitcoin– and you utilize several altcoins as security.
The initial application procedure works as follows:
Make a demand using your crypto assets as security
Instantly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will instantly get the collateral back, no matter whether its value 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 report checks or take some time to think about whether you are eligible for a loan. On the contrary, if you have enough collateral and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that include predefined terms.
There are three choices for loan durations:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not determined by the amount of security that you set up. Instead, it depends on the kind of strategy you select.
YouHodler uses the exact same interest rate for all its users. As the neighborhood grows, the service provider hopes that its interest rates will likewise drop accordingly. YouHodler likewise has an affiliate program to encourage its users to welcome others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Solid Insurance. Crypto possessions are guaranteed for approximately $150 million.
Stablecoin Interest. YouHodler uses some of the best interest rates for stablecoins.
Distinct 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 top 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 current compared to its rivals.
Currencies to Borrow. Depending upon the currencies you utilize as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered 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, ASSOCIATE, and 15 other popular coins with the list growing.
Kind of service: Direct loaning.
Cryptocurrencies are unstable creatures. To make a profit, you have to be good at trading them or just hold and hope your crypto gains in value. Neither approach is particularly easy to do because of volatility.
What if you might just transfer your crypto someplace and make interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can handle that likewise considering that it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Crypto Lending Similar To Poloniex
The company’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States along with in about a dozen other countries.