Looking for Youhodler Spac Reddit…YouHodler is a Swiss-based business that serves as a crypto-backed loan provider. One of its primary ideas is that you can still HODL, without having to wait on a spike to sell.
It allows 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 likewise engage with stablecoins.
The most advantageous feature would be the alternative to withdraw fiat to a personal bank account or individual credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It would not be improbable to think about YouHodler as a bank for your cryptocurrency. It is quick and effective, allowing users to move their crypto assets with ease.
The platform concentrates on providing a well-rounded experience for its users. You will find everything that a crypto owner or a financier would possibly need. Simply put, YouHodler uses a variety of services that lets you harness your digital properties.
YouHodler’s wallet is created with simpleness and performance in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The business uses dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Spac Reddit
Possibly the most significant function at YouHodler is its ability to offer you loans. A financier could consider these funding chances as a means of hedging. Most importantly, it provides you access to a flexible course to enter 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 huge part of the danger that accompanies investment options.
YouHodler is unquestionably a leading player in this space– not least due to the fact that it provides a top-rate loan-to-value ratio of as much as 90%. Outmatching its competitors, 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 process that YouHodler has in place.
YouHodler gives you a few alternatives to choose how you want to back your loan. You can look for a loan amount in fiat or Bitcoin– and you use numerous altcoins as security.
The initial application process works as follows:
Make a demand using your crypto properties as security
Quickly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will instantly 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 perform any credit rating checks or take some time to think about whether you are eligible for a loan. On the contrary, if you have sufficient collateral and a verified account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various bundles for loans that come with predefined terms.
There are three options for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not identified by the quantity of security that you put up. Rather, it depends upon the kind of plan you pick.
YouHodler offers the exact same rate of interest for all its users. As the community grows, the service provider hopes that its rates of interest will also drop accordingly. YouHodler also has an affiliate program to motivate its users to welcome others to sign up with the platform to help accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Solid Insurance coverage. Crypto possessions are insured for up to $150 million.
Stablecoin Interest. YouHodler uses some of the best rate of interest for stablecoins.
Unique Features. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Flexible Terms. You can increase the period of your loans at any time.
High LTV. The top 20 coins can be used as collateral 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 utilize as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies offered to make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies available for borrowing: BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and 15 other popular coins with the list growing.
Type of service: Direct financing.
Cryptocurrencies are volatile animals. To make a profit, you need to be good at trading them or simply hold and hope your crypto gains in worth. Neither approach is particularly easy to do because of volatility.
What if you might simply transfer your crypto somewhere 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 likewise given that 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 Spac 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 nations.