Looking for Youhodler Reddit Review…YouHodler is a Swiss-based business that functions as a crypto-backed loan provider. Among its primary principles is that you can still HODL, without having to await a spike to offer.
It allows users to obtain fiat funds instantly, based on the value of their cryptocurrency property holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most beneficial function would be the alternative to withdraw fiat to a personal bank account or individual credit card. Users can also hold their cryptocurrency in a YouHodler savings account.
It wouldn’t be improbable to think about YouHodler as a bank for your cryptocurrency. It is fast and effective, enabling users to transfer 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 an investor would perhaps require. Simply put, YouHodler uses a range of services that lets you harness your digital properties.
YouHodler’s wallet is created with simplicity and effectiveness in mind. You can move your cryptocurrency, convert 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? Youhodler Reddit Review
Maybe the most noteworthy feature at YouHodler is its capability to offer you loans. A financier could think about these financing opportunities as a means of hedging. Crucially, it provides you access to a flexible path to get in 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 risk that accompanies investment choices.
YouHodler is unquestionably a leading gamer in this space– not least due to the fact that it offers a top-rate loan-to-value ratio of up to 90%. Outmatching its competitors, YouHodler accepts 15 different digital coins as collateral.
Users can receive both immediate 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 rate of interest as low as 2.5%.
Now let’s break down the loan process that YouHodler has in place.
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 utilize several altcoins as collateral.
The preliminary application procedure works as follows:
Make a request utilizing your crypto assets as security
Immediately receive an agreed loan quantity in fiat (USD, EURO, and Stablecoins, Bitcoin).
Once you pay back the loan, you will right away get the collateral back, regardless of whether its worth has actually increased.
As you can see from the above, the process is as seamless as it could be. The company does not carry out any credit score checks or require time to consider whether you are eligible for a loan. On the contrary, if you have enough security and a confirmed account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has various bundles for loans that include predefined terms.
There are 3 options for loan periods:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the quantity of collateral that you put up. Rather, it depends upon the kind of plan you pick.
YouHodler uses the exact same rates of interest for all its users. As the community grows, the service provider hopes that its rates of interest will also drop appropriately. YouHodler also has an affiliate program to encourage its users to invite others to sign up with the platform to assist accelerate this objective.
Pros of YouHodler:.
Strong Security. YouHodler put in place numerous ways to keep your funds safe..
Strong Insurance coverage. Crypto assets are guaranteed for as much as $150 million.
Stablecoin Interest. YouHodler provides a few of the best rates of interest for stablecoins.
Distinct Functions. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t discover anywhere else.
Versatile Terms. You can increase the duration of your loans at any time.
High LTV. The top 20 coins can be utilized 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 competitors.
Currencies to Borrow. Depending upon the currencies you utilize as security, 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 available 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, 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 proficient at trading them or simply hold and hope your crypto gains in value. Neither approach is particularly easy to do because of volatility.
What if you might simply transfer 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 manage that also given that it lends 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. Youhodler Reddit Review
The company’s CEO is Ilya Volkov. YouHodler is an official Blockchain Association member of the Financial Commission. YouHodler is not readily available in the United States as well as in about a lots other nations.