Looking for Is It A Good Idea To Buy Bitcoins…YouHodler is a Swiss-based business that works as a crypto-backed loan company. One of its main concepts is that you can still HODL, without having to wait for a spike to sell.
It enables users to obtain fiat funds instantly, based upon the value of their cryptocurrency possession holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most advantageous function would be the option to withdraw fiat to a personal checking account or personal charge card. Users can likewise hold their cryptocurrency in a YouHodler savings account.
It would not be far-fetched to consider YouHodler as a bank for your cryptocurrency. It is quick and efficient, permitting users to move their crypto properties with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will find everything that a crypto owner or a financier would potentially need. Simply put, YouHodler offers a range of services that lets you harness your digital assets.
YouHodler’s wallet is designed with simplicity and effectiveness in mind. You can move your cryptocurrency, transform it to fiat, and hold the funds for investment functions in your wallet. The business uses dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Is It A Good Idea To Buy Bitcoins
Maybe the most significant feature at YouHodler is its ability to provide you loans. An investor might think about these financing opportunities as a means of hedging. Most importantly, it gives you access to a versatile course to get in the cryptocurrency trading markets.
With a crypto-backed credit line, you can get fiat when you need it without touching your crypto portfolio at all. It removes a big part of the risk that accompanies investment options.
YouHodler is undoubtedly a leading player in this space– not least due to the fact that it provides a top-rate loan-to-value ratio of approximately 90%. Exceeding its rivals, YouHodler accepts 15 various digital coins as security.
Users can get both instantaneous money 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 could get your interest rate as low as 2.5%.
Now let’s break down the loan procedure that YouHodler has in location.
YouHodler offers you a few options to select how you wish to back your loan. You can apply for a loan amount in fiat or Bitcoin– and you utilize numerous altcoins as security.
The initial application process works as follows:
Make a demand utilizing your crypto assets as collateral
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you repay the loan, you will instantly get the collateral back, no matter whether its value has actually increased.
As you can see from the above, the process is as seamless as it could be. The company does not perform any credit report checks or take some time to consider whether you are eligible for a loan. On the contrary, if you have adequate security 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 choices for loan durations:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your rate of interest is not determined by the quantity of collateral that you put up. Rather, it depends on the type of plan you choose.
YouHodler uses the very same interest rate for all its users. As the neighborhood grows, the provider hopes that its rates of interest will also drop appropriately. YouHodler also has an affiliate program to encourage its users to welcome others to sign up with the platform to help accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place many ways to keep your funds safe..
Solid Insurance coverage. Crypto properties are insured for as much as $150 million.
Stablecoin Interest. YouHodler offers some of the very best rates of interest for stablecoins.
Distinct Features. You’ll discover cool items such as the Multi HODL and the Turbocharge, which you will not find anywhere else.
Flexible Terms. You can increase the duration 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 recent compared to its competitors.
Currencies to Borrow. Depending on the currencies you utilize 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 make interest: Fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG).
Currencies readily 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 loaning.
Cryptocurrencies are unpredictable animals. To make a profit, you need to be proficient at trading them or just hold and hope your crypto gains in worth. Because of volatility, neither technique is especially simple to do.
What if you could just transfer your crypto somewhere and earn interest on it. It pays high interest on savings. If you’re in the market for a crypto-backed loan, Youhodler can deal with that likewise because it loans out its crypto on deposits.
YouHodler is a cryptocurrency exchange that concentrates on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Is It A Good Idea To Buy Bitcoins
The company’s CEO is Ilya Volkov. YouHodler is a main Blockchain Association member of the Financial Commission. YouHodler is not available in the United States along with in about a dozen other countries.