Looking for Is Blockfi Legit…YouHodler is a Swiss-based business that works as a crypto-backed loan service provider. Among its main concepts is that you can still HODL, without having to wait on a spike to offer.
It allows users to borrow fiat funds quickly, based on the value of their cryptocurrency property holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial function would be the option to withdraw fiat to a personal checking account or individual charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be far-fetched to consider YouHodler as a bank for your cryptocurrency. It is efficient and fast, allowing users to transfer their crypto properties with ease.
The platform concentrates on providing a well-rounded experience for its users. You will find everything that a crypto owner or an investor would possibly need. Simply put, YouHodler provides a range of services that lets you harness your digital assets.
YouHodler’s wallet is developed with simplicity and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for investment purposes in your wallet. The business provides dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Is Blockfi Legit
Maybe the most notable feature at YouHodler is its capability to provide you loans. A financier might think about these financing chances as a means of hedging. Most importantly, it offers you access to a flexible path to get in the cryptocurrency trading markets.
With a crypto-backed line of credit, you can get fiat when you require it without touching your crypto portfolio at all. It eliminates a huge part of the threat that accompanies financial investment options.
YouHodler is certainly a leading player in this space– not least because it provides a top-rate loan-to-value ratio of approximately 90%. Outmatching its rivals, 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 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 location.
YouHodler offers you a few alternatives to choose how you want to back your loan. You can make an application for a loan amount in fiat or Bitcoin– and you use several altcoins as security.
The initial application procedure works as follows:
Make a demand utilizing your crypto properties as collateral
Quickly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will immediately get the collateral back, regardless of 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 perform any credit history checks or require time to think about whether you are qualified for a loan. On the contrary, if you have sufficient collateral and a confirmed account, you are good 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 alternatives for loan periods:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not identified by the amount of security that you set up. Instead, it depends on the type of strategy you choose.
YouHodler offers the same interest rate for all its users. As the community grows, the supplier hopes that its rates of interest will also drop appropriately. YouHodler also has an affiliate program to motivate its users to welcome others to sign up with the platform to help accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance coverage. Crypto assets are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler offers some of the best interest rates for stablecoins.
Unique Features. 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 leading 20 coins can be used 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 competitors.
Currencies to Borrow. Depending upon the currencies you utilize as security, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: 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.
Kind of service: Direct financing.
Cryptocurrencies are volatile animals. To make a profit, you have to be proficient at trading them or simply hold and hope your crypto gains in worth. Neither approach is especially easy to do because of volatility.
If you could simply deposit your crypto somewhere and make interest on it, what. In this manner, if the price 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 savings. If you’re in the market for a crypto-backed loan, Youhodler can deal with that also given that it loans out its crypto on deposits. Let’s see how it works.
YouHodler is a cryptocurrency exchange that specializes in crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Is Blockfi Legit
The business’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.