Looking for Youhodler Review Reddit…YouHodler is a Swiss-based business that serves as a crypto-backed loan provider. One of its primary principles is that you can still HODL, without needing to await a spike to sell.
It permits users to obtain fiat funds quickly, based upon 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 helpful function would be the choice to withdraw fiat to a personal checking account or personal 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 fast and effective, allowing users to move their crypto assets 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 possibly require. Simply put, YouHodler uses a variety of services that lets you harness your digital possessions.
YouHodler’s wallet is designed with simpleness and efficiency in mind. You can transfer your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The company offers dedicated wallet styles for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Review Reddit
Maybe the most notable feature at YouHodler is its ability to use you loans. An investor could think about these financing opportunities as a means of hedging. Crucially, it provides you access to a versatile path to go into 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 big part of the risk that accompanies investment options.
YouHodler is unquestionably a leading player in this space– not least since it offers a top-rate loan-to-value ratio of as much as 90%. Exceeding 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 interest rates 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 process that YouHodler has in location.
YouHodler provides you a few options to choose how you want to back your loan. You can get a loan quantity in fiat or Bitcoin– and you use several altcoins as collateral.
The initial application process works as follows:
Make a demand utilizing your crypto properties as security
Quickly get an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
As soon as you repay the loan, you will instantly get the security back, despite whether its worth has increased.
As you can see from the above, the process is as smooth as it could be. The business does not carry out any credit report checks or take time to consider whether you are qualified for a loan. On the contrary, if you have adequate security and a verified account, you are great to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different packages for loans that feature predefined terms.
There are 3 alternatives for loan durations:.
30 days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not determined by the amount of security that you put up. Rather, it depends on the type of strategy you pick.
YouHodler uses the exact same rate of interest for all its users. As the community grows, the service provider hopes that its interest rates will also drop appropriately. YouHodler likewise 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 many ways to keep your funds safe..
Strong Insurance coverage. Crypto possessions are insured for as much as $150 million.
Stablecoin Interest. YouHodler offers some of the very best rate of interest for stablecoins.
Distinct Functions. You’ll find cool products such as the Multi HODL and the Turbocharge, which you won’t find anywhere else.
Versatile Terms. You can increase the duration 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 competitors.
Currencies to Borrow. Depending on the currencies you utilize as collateral, you can just get loans in USD, EUR, GBP, and BTC..
Year founded: 2018.
Headquarters: 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 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 lending.
Cryptocurrencies are unstable animals. To make a profit, you have to be good at trading them or just hold and hope your crypto gains in value. Neither method is particularly easy to do because of volatility.
If you could simply deposit your crypto somewhere and earn interest on it, what. By doing this, if the cost increases by a small amount or not at all, you can still make a profit. That’s what YouHodler does. It pays high interest on savings. Youhodler can deal with that likewise given that it loans 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 loaning and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Review Reddit
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 along with in about a dozen other countries.