Looking for Youhodler Security Reddit…YouHodler is a Swiss-based company that works as a crypto-backed loan provider. Among its main ideas is that you can still HODL, without needing to await a spike to sell.
It allows users to obtain fiat funds instantly, based upon the value of their cryptocurrency asset holdings. Apart from that, one can transform crypto to crypto, crypto to fiat, and also engage with stablecoins.
The most advantageous function would be the choice to withdraw fiat to an individual 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 fast and effective, permitting users to move their crypto possessions with ease.
The platform focuses on providing a well-rounded experience for its users. You will discover everything that a crypto owner or an investor would possibly require. In other words, YouHodler offers a variety of services that lets you harness your digital properties.
YouHodler’s wallet is designed with simplicity and effectiveness in mind. You can move your cryptocurrency, convert it to fiat, and hold the funds for investment purposes in your wallet. The company offers dedicated wallet designs for Bitcoin and over 14 other popular cryptocurrencies.
Is YouHodler legitimate? Youhodler Security Reddit
Perhaps the most noteworthy feature at YouHodler is its ability to provide you loans. An investor could consider these funding chances as a means of hedging. Crucially, it provides 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 need it without touching your crypto portfolio at all. It gets rid of a big part of the risk that accompanies financial investment choices.
YouHodler is certainly a leading player in this space– not least because it provides a top-rate loan-to-value ratio of approximately 90%. Exceeding its rivals, YouHodler accepts 15 various 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 fairly 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 location.
YouHodler offers you a couple of alternatives to choose how you wish to back your loan. You can make an application for a loan quantity in fiat or Bitcoin– and you utilize multiple altcoins as collateral.
The initial application process works as follows:
Make a request utilizing your crypto assets as security
Instantly receive an agreed loan amount in fiat (USD, EURO, and Stablecoins, Bitcoin).
When you pay back the loan, you will right away get the collateral back, despite 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 score checks or require time to consider whether you are eligible for a loan. On the contrary, if you have adequate collateral and a validated account, you are excellent to go.
How do you get paid on YouHodler?
Loan Terms and Quantities.
YouHodler has different packages for loans that come with predefined terms.
There are 3 alternatives for loan periods:.
Thirty days– 90% LTV.
60 days– 70% LTV.
180 days– 50% LTV.
Your interest rate is not identified by the quantity of security that you installed. Instead, it depends upon the kind of strategy you select.
YouHodler uses the same rates of interest for all its users. As the community grows, the supplier hopes that its interest rates will also drop appropriately. YouHodler also has an affiliate program to encourage its users to welcome others to join 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 assets are insured for approximately $150 million.
Stablecoin Interest. YouHodler uses a few of the very best interest rates for stablecoins.
Unique Functions. You’ll discover cool products such as the Multi HODL and the Turbocharge, which you will not find anywhere else.
Versatile Terms. You can increase the period of your loans at any time.
High LTV. The leading 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 recent compared to its competitors.
Currencies to Borrow. Depending upon the currencies you utilize as collateral, you can only get loans in USD, EUR, GBP, and BTC..
Year established: 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 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 unpredictable animals. To earn a profit, you have to be good at trading them or just hold and hope your crypto gains in worth. Because of volatility, neither method is particularly simple to do.
What if you could simply transfer your crypto somewhere and earn interest on it. By doing this, 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 manage that also since 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 concentrates on crypto lending and high-interest savings for Hodlers. YouHodler is based in Limassol, Limassol, Cyprus. Youhodler Security Reddit
The business’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.