Looking for How To Deposit Cryptocurrency…YouHodler is a Swiss-based company that functions as a crypto-backed loan company. One of its main ideas is that you can still HODL, without needing to wait on a spike to sell.
It allows users to borrow fiat funds quickly, based upon the worth of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most helpful feature 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 far-fetched to think about YouHodler as a bank for your cryptocurrency. It is efficient and fast, permitting users to transfer their crypto assets with ease.
The platform concentrates on providing a well-rounded experience for its users. You will discover whatever that a crypto owner or a financier would perhaps require. To put it simply, YouHodler provides a variety of services that lets you harness your digital assets.
YouHodler’s wallet is created with simplicity and effectiveness in mind. You can transfer your cryptocurrency, transform it to fiat, and hold the funds for financial investment functions in your wallet. The company uses dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? How To Deposit Cryptocurrency
Perhaps the most notable function at YouHodler is its capability to offer you loans. An investor might consider these financing opportunities as a means of hedging. Crucially, it offers you access to a versatile path to enter 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 huge part of the danger that accompanies financial investment choices.
YouHodler is certainly a leading player in this space– not least due to the fact that it uses a top-rate loan-to-value ratio of up to 90%. Outpacing its rivals, YouHodler accepts 15 various digital coins as security.
Users can receive both instant money 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 process that YouHodler has in place.
YouHodler gives you a couple of options to choose how you want to back your loan. You can make an application for a loan amount in fiat or Bitcoin– and you utilize multiple altcoins as security.
The preliminary application procedure works as follows:
Make a demand using your crypto assets as security
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you pay back the loan, you will immediately get the security back, regardless of whether its value has increased.
As you can see from the above, the procedure is as seamless as it could be. The company does not perform any credit score checks or require time to think about whether you are qualified for a loan. On the contrary, if you have enough collateral and a confirmed account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various packages for loans that include predefined terms.
There are 3 alternatives for loan periods:.
1 month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rates of interest is not determined by the amount of security that you installed. Rather, it depends on the kind of strategy you choose.
YouHodler provides the exact same rate of interest for all its users. As the community grows, the provider hopes that its interest rates will likewise drop accordingly. YouHodler also has an affiliate program to encourage its users to welcome others to join the platform to assist accelerate this goal.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Solid Insurance coverage. Crypto properties are insured for approximately $150 million.
Stablecoin Interest. YouHodler provides some of the best rate of interest for stablecoins.
Special Functions. You’ll discover cool items such as the Multi HODL and the Turbocharge, which you won’t 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 rivals.
Currencies to Borrow. Depending upon the currencies you use as collateral, you can only receive loans in USD, EUR, GBP, and BTC..
Year established: 2018.
Head office: Cyprus and Switzerland.
Licenses: European Union Financial Commission.
Currencies readily available 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, REP, and 15 other popular coins with the list growing.
Kind of service: Direct lending.
Cryptocurrencies are unpredictable animals. To earn a profit, you have to be good at trading them or just hold and hope your crypto gains in worth. Neither method is particularly easy to do because of volatility.
What if you could just deposit your crypto somewhere and make interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can handle that also since it lends out its crypto on deposits.
YouHodler is a cryptocurrency exchange that focuses on crypto loaning and high-interest cost savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. How To Deposit Cryptocurrency
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 along with in about a dozen other countries.