Looking for Youhodler Credit Card Review…YouHodler is a Swiss-based company that functions as a crypto-backed loan company. One of its main ideas is that you can still HODL, without needing to await a spike to offer.
It enables users to obtain fiat funds immediately, based upon the worth of their cryptocurrency property holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial function would be the option to withdraw fiat to an individual savings account or personal 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 quick and efficient, enabling 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 potentially require. In other words, YouHodler provides a variety of services that lets you harness your digital assets.
YouHodler’s wallet is created with simpleness and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment functions in your wallet. The company uses devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Credit Card Review
Maybe the most notable feature at YouHodler is its capability to offer you loans. An investor could think about these financing opportunities as a means of hedging. Most importantly, it provides you access to a flexible path to go into 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 big part of the threat that accompanies investment choices.
YouHodler is undoubtedly a leading gamer in this space– not least since it offers a top-rate loan-to-value ratio of up to 90%. Surpassing its rivals, YouHodler accepts 15 different digital coins as collateral.
Users can receive 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 relatively 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 procedure that YouHodler has in location.
YouHodler provides you a couple of alternatives to pick how you wish to back your loan. You can look for a loan amount in fiat or Bitcoin– and you use several altcoins as collateral.
The initial application process works as follows:
Make a demand using your crypto assets as security
Instantly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back 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 smooth as it could be. The company does not carry out any credit rating checks or require time to think about whether you are eligible for a loan. On the contrary, if you have sufficient security 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 come with 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 figured out by the amount of security that you put up. Instead, it depends on the type of strategy you pick.
YouHodler offers the same interest rate for all its users. As the neighborhood grows, the company hopes that its rates of interest will also drop appropriately. YouHodler also has an affiliate program to encourage its users to welcome others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Strong Insurance coverage. Crypto properties are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler uses a few of the best rates of interest for stablecoins.
Unique Features. You’ll find cool items such as the Multi HODL and the Turbocharge, which you won’t discover anywhere else.
Flexible 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 rather recent compared to its rivals.
Currencies to Borrow. Depending upon the currencies you use as security, you can only get 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 available for loaning: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and 15 other popular coins with the list growing.
Kind of service: Direct loaning.
Cryptocurrencies are unpredictable creatures. To make a profit, you have to be proficient at trading them or simply hold and hope your crypto gains in value. Due to the fact that of volatility, neither approach is particularly easy to do.
What if you could simply transfer your crypto someplace and earn interest on it. It pays high interest on cost savings. If you’re in the market for a crypto-backed loan, Youhodler can handle that also since it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto lending and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Credit Card Review
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 along with in about a dozen other nations.