Fintech platform YouHodler adds support for 10 new cryptos

Fintech platform YouHodler adds support for 10 new cryptos
Photo by NORTHFOLK / Unsplash

According to its recent announcement, a fintech platform called YouHodler recently added support for no less than 10 new popular cryptocurrencies. The platform’s focus is on helping people access the benefits offered by the crypto economy, and each of the newly supported cryptocurrencies was chosen because it offers something that will empower the crypto community further.

The platform posted a list of newly added coins, and those include Avalanche (AVAX), Elrond (EGLD), PancakeSwap (CAKE), BitTorrent (BTT), 1inch Network (1INCH), Cosmos (ATOM), Near Protocol (NEAR), and Filecoin (FIL). In addition to these 8 coins, the YouHodler platform will also pay up to 5.5% interest on two other cryptos — FTX Token (FTT) and Zilliqa (ZIL) — becoming the first platform in the world that did it.

YouHodler aims to empower users by providing them with different ways to profit from digital assets, including staking, trading, taking out crypto loans, and more. The company has a special focus on crypto savings accounts, where users only need to deposit their funds and start receiving weekly payments. At the end of each week, they will get a certain amount, depending on their deposit, that gets sent directly into their account.

Not only that, but users get to know how much they can earn for keeping their coins locked up for specific periods of time, up to 12 months. As a result, you can easily calculate your potential income, make plans for your future investments, or even how to spend the money you will earn in the meantime.

Why did YouHodler choose these coins?

According to the company, all tokens that were added this time are trusted by the users. Not only that, but all of them can be found in CoinMarketCap’s top 100 cryptocurrencies at the time when they were added.

Until now, YouHodler has been paying interest on a number of other coins, including BTC, ETH, PAXG, XRP, USDC, XLM, TUSD, HUSD, USDT, PAX, BNB, and HT. From now on, all of these coins and tokens, as well as the newly added ones will be available on the platform. For those who might be concerned about the security of their cryptos, YouHodler claims to be using the top practices and custody solutions to secure the coins. These best practices and custody solutions were developed by Fireblocks and Ledger Vault, both of which are major names in the area of crypto security.

Ilya Volkov, YouHodler’s co-founder and acting CEO, commented on the move by saying that DeFi allows consumers to earn interest on their capital by engaging in staking, farming, and similar activities. However, YouHodler believes that the process is highly challenging, which intimidates users who are not tech-savvy.

This is not the only issue, either. For example, those who wish to engage in staking often have to lock up as much as 2 times the amount of funds that they might want to, just to meet the necessary minimum, as they need to stake both the token and USDT. As a result, YouHodler decided to make the process as simple and as user-friendly as possible, without unnecessary restrictions, extra conditions, or any other issue that would make the process difficult for casual crypto users.

In other words, YouHodler has created solutions that can connect the crypto industry with the real world, and allow users to use their crypto assets without only having to spend them. Thanks to the platform, non-technical users have a way to obtain crypto and have their money make more money without them having to do anything but make a single deposit.

Of course, the platform also allows users to buy and sell their coins at any time, with no time limits or restrictions. The coins can also be used for purchases, put in a reward account generating 12% yields, or be exchanged for crypto, fiat, and stablecoins. Converting currencies is very quick and simple, and a great way for users to get instant cash. Users can even take loans, using their crypto assets as collateral. The service truly unlocks the real value of cryptocurrency assets, and the addition of the new coins will now expand the range of possibilities even more, and allow the team to help people move on from passive holding, and start using their coins the smart way.

Read more