Looking for Consensys Youhodler…YouHodler is a Swiss-based company that serves as a crypto-backed loan company. Among its main concepts is that you can still HODL, without having to wait on a spike to sell.
It enables users to borrow fiat funds immediately, based on the value 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 function would be the alternative to withdraw fiat to a personal checking account or personal credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to consider YouHodler as a bank for your cryptocurrency. It is quick and effective, enabling users to move their crypto possessions with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will find everything that a crypto owner or an investor would perhaps need. In other words, YouHodler provides a range of services that lets you harness your digital properties.
YouHodler’s wallet is developed with simpleness and effectiveness in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for financial investment functions in your wallet. The company offers dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Consensys Youhodler
Maybe the most noteworthy feature at YouHodler is its ability to use you loans. A financier could think about these financing opportunities as a means of hedging. Crucially, it gives you access to a versatile course to get in 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 gets rid of a big part of the threat that accompanies investment options.
YouHodler is undoubtedly a leading gamer in this area– not least since it uses a top-rate loan-to-value ratio of up to 90%. Exceeding its competitors, YouHodler accepts 15 different digital coins as security.
Users can receive both instantaneous 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 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 offers you a couple of choices to pick how you want to back your loan. You can get a loan quantity in fiat or Bitcoin– and you utilize multiple altcoins as collateral.
The initial application process works as follows:
Make a request using your crypto assets as collateral
Quickly get an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will instantly get the security back, regardless of 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 perform any credit rating checks or require time to think about whether you are qualified for a loan. On the contrary, if you have sufficient collateral and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has different packages for loans that feature predefined terms.
There are 3 alternatives for loan durations:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not identified by the quantity of security that you set up. Instead, it depends on the kind of strategy you pick.
YouHodler uses the exact same rates of interest for all its users. As the community grows, the provider hopes that its rate of interest will also drop appropriately. YouHodler likewise has an affiliate program to encourage its users to welcome others to sign up with the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous methods to keep your funds safe..
Solid Insurance. Crypto assets are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler offers a few of the best interest rates for stablecoins.
Unique Functions. You’ll find cool items 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 collateral with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is quite current compared to its rivals.
Currencies to Borrow. Depending upon the currencies you utilize as security, you can only get loans in USD, EUR, GBP, and BTC..
Year established: 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 unpredictable creatures. To earn a profit, you have to be good at trading them or just hold and hope your crypto gains in worth. Due to the fact that of volatility, neither technique is especially easy to do.
What if you could simply deposit your crypto someplace 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. Consensys Youhodler
The business’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not available in the United States as well as in about a dozen other nations.