Looking for Youhodler Vs Gemini Credit Card…YouHodler is a Swiss-based company that acts as a crypto-backed loan company. Among its primary concepts is that you can still HODL, without needing to await a spike to offer.
It enables users to obtain fiat funds quickly, based upon the value of their cryptocurrency possession holdings. Apart from that, one can convert 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 efficient and quick, allowing users to move their crypto assets 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 provides a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is developed with simpleness and performance in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment purposes in your wallet. The company provides devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Vs Gemini Credit Card
Possibly the most notable function at YouHodler is its capability to use you loans. An investor might think about these funding chances as a means of hedging. Most importantly, it offers you access to a versatile path to enter 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 gets rid of a huge part of the danger that accompanies investment choices.
YouHodler is undoubtedly a leading player in this area– not least due to the fact that it uses a top-rate loan-to-value ratio of up to 90%. Exceeding its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can get both instantaneous 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 could get your rate of interest as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in place.
YouHodler gives you a few choices to select how you wish to back your loan. You can obtain a loan amount in fiat or Bitcoin– and you use multiple altcoins as collateral.
The preliminary application process works as follows:
Make a demand using your crypto possessions as collateral
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will right away get the security back, despite whether its value has increased.
As you can see from the above, the process is as seamless as it could be. The company does not perform any credit history checks or take time to consider whether you are eligible for a loan. On the contrary, if you have enough collateral and a validated 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 options for loan durations:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not identified by the quantity of security that you put up. Instead, it depends on the type of strategy you choose.
YouHodler uses the same rates of interest for all its users. As the community grows, the company hopes that its rate of interest will likewise drop appropriately. YouHodler also has an affiliate program to encourage its users to invite others to sign up with the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many methods to keep your funds safe..
Solid Insurance. Crypto assets are insured for up to $150 million.
Stablecoin Interest. YouHodler provides some of the best rates of interest for stablecoins.
Unique Features. You’ll find cool products such as the Multi HODL and the Turbocharge, which you will not discover anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The top 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 current compared to its rivals.
Currencies to Borrow. Depending on the currencies you use as collateral, 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 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 lending.
Cryptocurrencies are volatile animals. To earn a profit, you have to be good at trading them or simply hold and hope your crypto gains in worth. Neither technique is especially easy to do because of volatility.
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 likewise considering that it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto loaning and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Vs Gemini Credit Card
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not available in the United States as well as in about a dozen other nations.