Looking for Loan To Buy Bitcoin Reddit…YouHodler is a Swiss-based company that serves as a crypto-backed loan provider. One of its main ideas is that you can still HODL, without needing to wait for a spike to offer.
It enables users to obtain fiat funds quickly, based upon the value of their cryptocurrency possession holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most helpful feature would be the choice to withdraw fiat to an individual savings account or personal charge card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be far-fetched to think about YouHodler as a bank for your cryptocurrency. It is fast and effective, allowing users to move their crypto possessions with ease.
The platform focuses on providing a well-rounded experience for its users. You will find whatever that a crypto owner or a financier would perhaps require. Simply put, YouHodler uses a range of services that lets you harness your digital possessions.
YouHodler’s wallet is created with simpleness and effectiveness in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for investment purposes in your wallet. The business uses devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Loan To Buy Bitcoin Reddit
Perhaps the most significant function at YouHodler is its ability to offer you loans. A financier might think about these financing opportunities as a means of hedging. Crucially, it provides you access to a versatile path to go into 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 removes a big part of the threat that accompanies investment options.
YouHodler is undoubtedly a leading gamer in this space– not least since it provides a top-rate loan-to-value ratio of approximately 90%. Outpacing its competitors, 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 relatively reasonably at 12% APR. If you are taking out a short-term loan, you could get your rates of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in location.
YouHodler provides you a few alternatives to select how you want to back your loan. You can get a loan quantity in fiat or Bitcoin– and you utilize multiple altcoins as security.
The preliminary application procedure works as follows:
Make a demand using your crypto assets as collateral
Immediately receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will right away get the collateral back, regardless of whether its worth has increased.
As you can see from the above, the procedure is as seamless as it could be. The business does not perform any credit rating checks or take time to consider whether you are qualified for a loan. On the contrary, if you have enough collateral and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various plans for loans that feature predefined terms.
There are 3 alternatives for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not determined by the amount of collateral that you put up. Rather, it depends on the kind of plan you pick.
YouHodler provides the exact same interest rate for all its users. As the community grows, the supplier hopes that its rates of interest will also drop appropriately. YouHodler likewise has an affiliate program to motivate its users to invite others to sign up with the platform to help accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Solid Insurance. Crypto properties are insured for approximately $150 million.
Stablecoin Interest. YouHodler provides a few of the very best rate of interest for stablecoins.
Unique Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you won’t find 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 Obtain. Depending upon the currencies you utilize as security, you can just receive loans in USD, EUR, GBP, and BTC..
Year founded: 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 readily available for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and 15 other popular coins with the list growing.
Kind of service: Direct lending.
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. Because of volatility, neither method is especially easy to do.
What if you might simply deposit your crypto someplace and earn interest on it. This way, if the price boosts by a small amount or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. If you remain in the market for a crypto-backed loan, Youhodler can manage that also given that it lends out its crypto on deposits. Let’s see how it works.
YouHodler is a cryptocurrency exchange that focuses on crypto loaning and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Loan To Buy Bitcoin Reddit
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 as well as in about a dozen other countries.