The cryptocurrency market has witnessed unprecedented growth in 2021, and that is just the tip of the iceberg. According to CoinGecko, which counts almost 12,000 crypto coins, the overall crypto market value hit $2.3 trillion as of December 17, 2021. Cryptocurrency is undoubtedly the biggest innovation of recent decades. It has evolved to the stage where crypto is used for our daily transactions. Many projects seek to offer great services to crypto investors and traders alike.
One such project is the YouHodler, a fintech platform that offers crypto-backed lending services. In his statement, the CEO of YouHodler, Ilya Volkov said, “We are happy to welcome Hodlers to our platform that allows them to hedge their crypto portfolio or receive additional funds to strengthen it. Simultaneously, we are excited to create a new utility for coins presented on YouHodler. We believe that the more utility any coin has, the more value it brings to its users and to the entire community.”
The YouHodler Crypto Loan
The YouHodler crypto loan project offers users the opportunity to get loans in EUR, USD, CHF, GBP, stablecoins or crypto and withdraw instantly to credit cards and personal banks. You can use the top 40 coins as collateral for crypto loans with the highest Loan-to-Value ratio (90%). The loan duration ranges from 7 days, 30 days, 61 days, and 180 days. 1 Bitcoin collateral fetches a loan amount of 41513.65USD. The platform offers a crypto loan calculator which helps you choose an appropriate loan plan. When a loan plan is chosen and a loan request made, the loan approval takes seconds to complete. You do not need to find a lender like it is done on peer-to-peer (p2p) platforms. You instantly receive cash in your preferred currency, EUR, USD, USDT, stablecoins or even BTC. This is only possible because of how YouHodler works.
The platform works like a pawnshop by creating an atmosphere where a temporary crypto exchange takes place with you as the seller and YouHodler as the buyer. After a predefined time, you can repurchase the cryptocurrency from YouHodler. When the price drops below the “Price Down Limit” (PDL) level, YouHodler is forced to sell users’ collateral and close the deal.
YouHodler Savings Account
One of the ways that YouHodler provides for customers to benefit from digital assets is the Crypto savings account. The reward comes with lots of benefits. It offers a 12.3% Tether (USDT) interest per year. This is higher than conventional bank rates. YouHodler offers flexibility to clients, allowing users to deposit and withdraw funds anytime, anywhere easily. The platform also guarantees total protection of funds stored in its system by using a mixture of cold and hot wallet storage to ensure maximum security. The whole earned amount of crypto interest is deposited into the users’ wallets at the end of each weekly settlement period. Users can then decide to either withdraw such rewards or retain them to earn compound interest in them.
YouHodler offers users the opportunity to exchange cryptocurrency, fiat, and stablecoins with real-time execution prices and low fees while also avoiding the risk associated with external crypto exchange platforms. You can buy crypto with a credit card (Visa, MasterCard) and your SEPA bank account. The exchange is very convenient and offers lots of functions just like conventional banking. The platform offers a secure wallet using hot and cold wallet mix and PCI security standards following Cryptocurrency Security Standard (CCSS).
Benefits To Users
- Universal conversion between all crypto, fiat, and stablecoins.
- Available for all major digital assets and stablecoins.
- Digital asset management system with $150m pooled crime insurance by Ledger Vault.
- Weekly compound interest payouts in stablecoins and crypto.
- Ability to use savings funds as collateral for lending products.
- Instant cash from our own fiat fund.
YouHodler is giving crypto enthusiasts the opportunity to make it big in the crypto market by providing them access to capital. If cryptocurrency will replace the traditional financial institutions like banks, crypto-backed projects should be able to offer services that will also compliment and improve the banks. YouHodler appears to be taking the bull by the horn in this regard. You can visit the YouHodler website for more details.