Looking for How To Deposit Cryptocurrency…YouHodler is a Swiss-based business that works as a crypto-backed loan provider. One of its primary ideas is that you can still HODL, without having to wait for a spike to sell.
It permits users to borrow fiat funds instantly, based upon the worth of their cryptocurrency property holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most beneficial feature would be the alternative to withdraw fiat to a personal savings account or personal charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be far-fetched to think about YouHodler as a bank for your cryptocurrency. It is quick and effective, allowing users to move their crypto assets with ease.
The platform focuses on providing a well-rounded experience for its users. You will find whatever that a crypto owner or an investor would potentially require. To put it simply, YouHodler uses a variety of services that lets you harness your digital properties.
YouHodler’s wallet is designed with simplicity and performance in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for financial investment functions in your wallet. The business offers devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? How To Deposit Cryptocurrency
Maybe the most notable function at YouHodler is its capability to offer you loans. A financier could consider these funding chances as a means of hedging. Crucially, it offers 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 gets rid of a huge part of the risk that accompanies financial investment options.
YouHodler is undoubtedly a leading gamer in this space– not least since it offers a top-rate loan-to-value ratio of approximately 90%. Outmatching its competitors, YouHodler accepts 15 various digital coins as collateral.
Users can get both immediate 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 could 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 couple of choices to choose how you wish to back your loan. You can look for a loan quantity in fiat or Bitcoin– and you use multiple altcoins as collateral.
The initial application process works as follows:
Make a request using your crypto properties as security
Quickly receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you repay the loan, you will immediately get the collateral back, regardless of whether its worth has increased.
As you can see from the above, the process is as seamless as it could be. The company does not perform any credit history checks or take time to think about whether you are eligible for a loan. On the contrary, if you have adequate collateral and a validated account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various plans for loans that include predefined terms.
There are 3 alternatives for loan durations:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not determined by the amount of collateral that you put up. Instead, it depends upon the kind of strategy you select.
YouHodler uses the same rates of interest for all its users. As the community grows, the provider hopes that its rate of interest will likewise drop appropriately. YouHodler likewise has an affiliate program to motivate its users to invite others to join the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance coverage. Crypto possessions are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler offers some of the very best rate of interest for stablecoins.
Unique Features. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t discover anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The leading 20 coins can be utilized 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 Obtain. Depending on 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 earn interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies readily available for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REPRESENTATIVE, and 15 other popular coins with the list growing.
Type of service: Direct financing.
Cryptocurrencies are unpredictable creatures. To make a profit, you have to be good at trading them or simply hold and hope your crypto gains in value. Since of volatility, neither approach is particularly easy to do.
What if you could simply transfer your crypto someplace and make 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 because it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto lending and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. How To Deposit Cryptocurrency
The business’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 along with in about a lots other nations.