Looking for Youhodler Crypto Bank Review…YouHodler is a Swiss-based business that acts as a crypto-backed loan company. One of its main concepts is that you can still HODL, without having to wait on a spike to sell.
It permits users to borrow fiat funds quickly, based on the worth of their cryptocurrency property holdings. Apart from that, one can convert crypto to crypto, crypto to fiat, and likewise engage with stablecoins.
The most helpful feature would be the option to withdraw fiat to a personal bank account or individual charge card. Users can likewise hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be far-fetched to consider YouHodler as a bank for your cryptocurrency. It is efficient and quick, enabling users to transfer their crypto assets with ease.
The platform concentrates on delivering a well-rounded experience for its users. You will discover everything that a crypto owner or a financier would possibly need. In other words, YouHodler offers a variety of services that lets you harness your digital properties.
YouHodler’s wallet is created with simpleness and effectiveness in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The company uses devoted wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Crypto Bank Review
Maybe the most significant function at YouHodler is its capability to offer you loans. An investor could consider these funding chances as a means of hedging. Most importantly, it offers you access to a versatile course to enter 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 eliminates a big part of the risk that accompanies financial investment choices.
YouHodler is certainly a leading player in this space– not least since it uses a top-rate loan-to-value ratio of approximately 90%. Exceeding its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can get both instant 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 fairly 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 process that YouHodler has in location.
YouHodler provides you a couple of 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 initial application procedure works as follows:
Make a demand using your crypto possessions as collateral
Quickly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you repay the loan, you will right away get the collateral back, despite whether its worth has increased.
As you can see from the above, the process is as seamless as it could be. The business does not carry out any credit report checks or take time to think about whether you are qualified for a loan. On the contrary, if you have adequate security and a verified account, you are good to go.
How do you get paid on YouHodler?
Loan Terms and Amounts.
YouHodler has various bundles for loans that come with predefined terms.
There are 3 alternatives for loan durations:.
One month– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not determined by the quantity of security that you installed. Rather, it depends on the kind of plan you pick.
YouHodler offers the same rates of interest for all its users. As the community grows, the company hopes that its rates of interest will likewise drop accordingly. YouHodler likewise has an affiliate program to motivate its users to invite others to join the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place lots of ways to keep your funds safe..
Strong Insurance coverage. Crypto assets are guaranteed for up to $150 million.
Stablecoin Interest. YouHodler provides a few of the very best interest rates for stablecoins.
Unique Functions. 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 leading 20 coins can be utilized as security with 90% loan-to-value.
Is CoinLoan safe?
Cons of YouHodler:.
Seniority. YouHodler was founded in 2018, which is quite recent compared to its rivals.
Currencies to Obtain. Depending on the currencies you use as security, you can just 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, REPRESENTATIVE, and 15 other popular coins with the list growing.
Kind of service: Direct loaning.
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 value. Because of volatility, neither technique is especially simple to do.
If you might simply deposit your crypto somewhere and make interest on it, what. This way, if the cost increases by a percentage or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on cost savings. Youhodler can handle that likewise because it lends out its crypto on deposits if you’re in the market for a crypto-backed loan. Let’s see how it works.
YouHodler is a cryptocurrency exchange that focuses on crypto financing and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Crypto Bank Review
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 as well as in about a dozen other countries.