Looking for Youhodler Review Reddit…YouHodler is a Swiss-based company that works as a crypto-backed loan service provider. Among its main principles is that you can still HODL, without needing 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 transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most advantageous feature would be the choice to withdraw fiat to a personal bank account or individual charge card. Users can likewise 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 efficient, permitting users to move 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 a financier would possibly need. To put it simply, YouHodler uses a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is created with simpleness and efficiency in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for investment functions in your wallet. The business provides dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Review Reddit
Maybe the most noteworthy function at YouHodler is its ability to provide you loans. An investor might think about these financing opportunities as a means of hedging. Crucially, it offers you access to a flexible path to get in the cryptocurrency trading markets.
With a crypto-backed credit line, you can get fiat when you require it without touching your crypto portfolio at all. It removes a big part of the danger that accompanies investment options.
YouHodler is unquestionably a leading player in this space– not least since it provides a top-rate loan-to-value ratio of as much as 90%. Exceeding its rivals, YouHodler accepts 15 different digital coins as security.
Users can receive both instant 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 process that YouHodler has in place.
YouHodler offers you a few choices to select 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 initial application process works as follows:
Make a request using your crypto possessions as security
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you repay the loan, you will immediately get the security back, despite whether its worth has actually increased.
As you can see from the above, the process is as smooth as it could be. The business does not carry out any credit rating checks or take time to consider whether you are qualified for a loan. On the contrary, if you have adequate security and a confirmed account, you are good 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 choices for loan durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not figured out by the quantity of security that you set up. Instead, it depends upon the type of plan you select.
YouHodler uses the same rate of interest for all its users. As the community grows, the supplier hopes that its rates of interest will also drop appropriately. YouHodler also has an affiliate program to encourage its users to welcome others to sign up with the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous methods to keep your funds safe..
Strong Insurance coverage. Crypto assets are insured for approximately $150 million.
Stablecoin Interest. YouHodler uses some of the very best rates of interest for stablecoins.
Unique Features. You’ll discover 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 leading 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 rivals.
Currencies to Borrow. Depending on 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 available for loaning: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, ASSOCIATE, and 15 other popular coins with the list growing.
Type of service: Direct financing.
Cryptocurrencies are unpredictable animals. To earn a profit, you have to be good at trading them or simply hold and hope your crypto gains in value. Since of volatility, neither approach is particularly simple to do.
What if you could simply transfer your crypto somewhere and make 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 likewise considering that it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Review Reddit
The business’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 lots other countries.