Looking for Youhodler Vs Nexo Vs Crypto.Com…YouHodler is a Swiss-based company that serves as a crypto-backed loan service provider. Among its main ideas is that you can still HODL, without having to wait on a spike to sell.
It enables users to borrow fiat funds immediately, based upon the value of their cryptocurrency property holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most beneficial function would be the choice to withdraw fiat to an individual checking account or personal charge card. Users can likewise hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be far-fetched to think about YouHodler as a bank for your cryptocurrency. It is effective and quick, enabling users to move their crypto assets with ease.
The platform focuses on delivering a well-rounded experience for its users. You will discover everything that a crypto owner or a financier would potentially need. To put it simply, YouHodler provides a range of services that lets you harness your digital possessions.
YouHodler’s wallet is created with simplicity and performance in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for financial investment purposes in your wallet. The business provides devoted wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Vs Nexo Vs Crypto.Com
Possibly the most noteworthy feature at YouHodler is its ability to use you loans. An investor could consider these financing opportunities as a means of hedging. Most importantly, it offers you access to a flexible course to go into 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 eliminates a huge part of the danger that accompanies financial investment options.
YouHodler is undoubtedly a leading player in this space– not least because it offers a top-rate loan-to-value ratio of approximately 90%. Outpacing its rivals, YouHodler accepts 15 various 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 rates of interest 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 place.
YouHodler offers you a few options to select how you want to back your loan. You can obtain a loan amount in fiat or Bitcoin– and you utilize multiple altcoins as collateral.
The initial application procedure works as follows:
Make a demand using your crypto assets as collateral
Quickly get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you repay the loan, you will instantly get the security back, no matter whether its worth has actually increased.
As you can see from the above, the procedure is as smooth as it could be. The company does not carry out any credit score checks or take time to think about whether you are eligible for a loan. On the contrary, if you have sufficient collateral and a validated account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has different packages for loans that come with predefined terms.
There are 3 options for loan durations:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not figured out by the amount of collateral that you set up. Instead, it depends upon the type of plan you pick.
YouHodler uses the very same interest rate for all its users. As the community grows, the provider hopes that its rate of interest will likewise drop appropriately. 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 lots of methods to keep your funds safe..
Strong Insurance. Crypto assets are insured for as much as $150 million.
Stablecoin Interest. YouHodler offers some of the best rate of interest for stablecoins.
Special Functions. You’ll find cool items such as the Multi HODL and the Turbocharge, which you will not find anywhere else.
Versatile Terms. You can increase the duration of your loans at any time.
High LTV. The leading 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 rivals.
Currencies to Borrow. Depending upon the currencies you utilize as security, you can just get loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Headquarters: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies readily available to make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies offered for borrowing: 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 creatures. To make a profit, you need to be proficient 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 just 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 manage that also since it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that specializes in crypto financing and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Vs Nexo Vs Crypto.Com
The business’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not offered in the United States in addition to in about a dozen other nations.