Looking for Youhodler Canada…YouHodler is a Swiss-based business that acts as a crypto-backed loan service provider. Among its main concepts is that you can still HODL, without having to await a spike to sell.
It allows users to borrow fiat funds instantly, based upon the value of their cryptocurrency asset holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most helpful feature would be the choice to withdraw fiat to an individual bank account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to think about YouHodler as a bank for your cryptocurrency. It is fast and effective, allowing users to move their crypto properties with ease.
The platform focuses on providing a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would potentially need. In other words, YouHodler offers a range of services that lets you harness your digital assets.
YouHodler’s wallet is developed with simpleness and efficiency in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for financial investment functions in your wallet. The company offers devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Canada
Maybe the most significant feature at YouHodler is its capability to use you loans. A financier might consider these financing chances as a means of hedging. Most importantly, it gives you access to a versatile course 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 eliminates a big part of the risk that accompanies financial investment choices.
YouHodler is certainly a leading player in this area– not least since it uses a top-rate loan-to-value ratio of up to 90%. Outmatching its rivals, YouHodler accepts 15 various digital coins as collateral.
Users can get both instant 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 relatively 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 place.
YouHodler provides you a few choices to pick how you want to back your loan. You can request a loan amount in fiat or Bitcoin– and you utilize numerous altcoins as collateral.
The preliminary application procedure works as follows:
Make a request using your crypto assets as collateral
Quickly get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will right away get the collateral back, despite whether its worth has actually increased.
As you can see from the above, the procedure is as smooth as it could be. The business 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 good to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that come with predefined terms.
There are three alternatives for loan durations:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not figured out by the amount of collateral that you installed. Instead, it depends upon the type of strategy you select.
YouHodler provides the same interest rate for all its users. As the neighborhood grows, the provider hopes that its interest rates will also drop accordingly. YouHodler also has an affiliate program to encourage its users to invite others to sign up with the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance. Crypto assets are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler provides some of the very best rates of interest for stablecoins.
Special Features. You’ll find cool products 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 leading 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 rather current compared to its competitors.
Currencies to Borrow. Depending upon the currencies you use as security, you can just get 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 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 unpredictable animals. To make a profit, you have to be good at trading them or simply hold and hope your crypto gains in worth. Neither method is particularly easy to do because of volatility.
If you might just deposit your crypto somewhere and earn interest on it, what. By doing this, if the price boosts by a percentage or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can deal with that also because it loans out its crypto on deposits if you’re in the market for a crypto-backed loan. Let’s see how it works.
YouHodler is a cryptocurrency exchange that focuses on crypto lending and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Canada
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States along with in about a dozen other nations.