Looking for Personal Loan For Cryptocurrency…YouHodler is a Swiss-based business that acts as a crypto-backed loan service provider. One of its primary ideas is that you can still HODL, without needing to wait for a spike to sell.
It enables users to borrow fiat funds immediately, based on the value of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial feature would be the alternative to withdraw fiat to an individual bank account or individual 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 fast and effective, allowing users to transfer their crypto possessions with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will discover whatever that a crypto owner or an investor would possibly need. To put it simply, YouHodler provides a variety of services that lets you harness your digital assets.
YouHodler’s wallet is created with simplicity and performance in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for investment functions in your wallet. The business uses devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Personal Loan For Cryptocurrency
Maybe the most notable function at YouHodler is its ability to offer you loans. A financier could think about these funding opportunities as a means of hedging. Crucially, it offers you access to a flexible course to enter 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 risk that accompanies financial investment options.
YouHodler is certainly a leading gamer in this area– not least due to the fact that it provides a top-rate loan-to-value ratio of up to 90%. Outpacing its competitors, YouHodler accepts 15 different digital coins as security.
Users can get both immediate cash 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 location.
YouHodler provides you a couple of choices to choose how you want to back your loan. You can get a loan quantity in fiat or Bitcoin– and you use numerous altcoins as security.
The preliminary application process works as follows:
Make a request utilizing your crypto possessions as collateral
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will right away get the security back, no matter whether its value has increased.
As you can see from the above, the procedure is as seamless as it could be. The business does not carry out any credit score checks or require time to think about whether you are eligible for a loan. On the contrary, if you have sufficient security and a validated account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various plans for loans that feature predefined terms.
There are 3 choices for loan durations:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not figured out by the quantity of collateral that you put up. Rather, it depends on the type of plan you pick.
YouHodler uses the same rate of interest for all its users. As the neighborhood grows, the supplier hopes that its rates of interest will also drop accordingly. YouHodler likewise has an affiliate program to motivate its users to welcome others to sign up with the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Solid Insurance. Crypto assets are insured for up to $150 million.
Stablecoin Interest. YouHodler provides some of the best rate of interest for stablecoins.
Special Features. You’ll find cool items 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 top 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 rather recent compared to its competitors.
Currencies to Obtain. Depending upon the currencies you use as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered to earn interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies offered 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 animals. To earn a profit, you need to be proficient at trading them or just hold and hope your crypto gains in value. Neither approach is especially easy to do because of volatility.
What if you might simply transfer your crypto somewhere and make interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can manage that also because it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Personal Loan For Cryptocurrency
The company’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not available in the United States in addition to in about a dozen other nations.