Looking for Youhodler Is Not Safe…YouHodler is a Swiss-based company that functions as a crypto-backed loan service provider. Among its main ideas is that you can still HODL, without having to wait for a spike to sell.
It permits users to borrow fiat funds immediately, based upon the worth of their cryptocurrency property holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most useful feature would be the alternative to withdraw fiat to an individual savings account or individual credit card. Users can likewise hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to consider YouHodler as a bank for your cryptocurrency. It is effective and fast, allowing users to transfer their crypto assets with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would potentially require. In other words, YouHodler uses a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is developed with simplicity and performance in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The business offers dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Is Not Safe
Possibly the most notable feature at YouHodler is its ability to offer you loans. A financier could consider these financing chances as a means of hedging. Crucially, it offers 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 removes a big part of the risk that accompanies investment choices.
YouHodler is certainly a leading gamer in this space– not least since it uses a top-rate loan-to-value ratio of as much as 90%. Surpassing its rivals, YouHodler accepts 15 different digital coins as collateral.
Users can get both immediate cash loans and crypto loans in USD, EURO, GBP, CHF, and even in Bitcoin( BTC) and Tether( USDT). The rate of interest on crypto loans are relatively reasonably at 12% APR. If you are taking out a short-term loan, you might get your rates of interest as low as 2.5%.
Now let’s break down the loan process that YouHodler has in location.
YouHodler gives you a couple of alternatives to select how you want to back your loan. You can look for a loan amount in fiat or Bitcoin– and you use numerous altcoins as collateral.
The preliminary application procedure works as follows:
Make a request using your crypto possessions as collateral
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will immediately get the collateral back, no matter whether its worth has increased.
As you can see from the above, the process is as seamless as it could be. The company does not carry out any credit rating checks or take time to think about whether you are eligible for a loan. On the contrary, if you have adequate security and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has different plans for loans that come with predefined terms.
There are three alternatives for loan periods:.
One 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 set up. Instead, it depends upon the kind of plan you select.
YouHodler uses the exact same interest rate for all its users. As the community grows, the provider hopes that its interest rates 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 many ways to keep your funds safe..
Solid Insurance coverage. Crypto properties are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler provides a few of the best interest rates for stablecoins.
Special Functions. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t discover anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The top 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 Obtain. Depending upon the currencies you use as security, 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 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 financing.
Cryptocurrencies are volatile creatures. To earn a profit, you need to be proficient at trading them or simply hold and hope your crypto gains in value. Neither approach is especially easy to do because of volatility.
What if you might simply deposit 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 manage that also since it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto loaning and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Is Not Safe
The company’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States along with in about a lots other countries.