YouHodler Review: Still having the Best Rates and Lots of Features
Originally from Switzerland, YouHodler prides itself on being a next-generation fintech platform where users can make the most of their cryptocurrency stash . It is a cryptocurrency exchange and lender where you can buy/sell/trade cryptocurrencies and earn interest on cryptocurrency deposits. Furthermore, you can also get short-term loans by holding cryptocurrencies as collateral.
Whether you are a hodler looking to earn passive income from your cryptocurrency investments over the long term or a trader looking for a trading platform with advanced tools, YouHodler promises to always have your back.
YouHodler: An Overview
Just because you've been holding back for a long time doesn't mean you can't use your cryptocurrency stash to generate passive income now or manage your immediate financial needs. This is stated by YouHodler, since it promises users the most competitive interest rates on the market.
YouHodler is a hybrid platform running a cryptocurrency exchange and lending program. In addition, it also offers crypto-saving options with high returns.
The crypto lending desk offers loans in several major fiat and cryptocurrencies, including stablecoins. Meanwhile, it offers cryptocurrency save feature, which is basically a next-generation cryptocurrency platform. up to 10.3% annual interest on crypto savings accounts.
This is lower than what the platform was offering a few months earlier, but still convincingly beats the interest rates offered by most competitors. (Details below).
YouHodler Cryptocurrency Services
Borrow using your cryptocurrency as collateral
If you need cash but don't want to sell your cryptocurrencies, YouHodler's lending program is an interesting option to consider. The lending program allows you to borrow money while keeping your cryptocurrency as collateral.
The loan-to-value ratio, or LTV, is relatively high. For those out of the loop, the LTV of a loan program represents the percentage of collateral you can borrow. For example, a loan program with an LTV of 70 allows you to borrow $70 against $100 collateral.
YouHodler currently offers an LTV of 90, which means that if you have a cryptocurrency worth $100, you can borrow $90 against it. Please note that this is a secured loan and therefore no credit checks are required. The approval process is also quite fast, almost instantaneous in fact .
You also have the option to borrow in USD, GBP, EUR, CHF or stablecoins and other cryptocurrencies.
Earn interest on your cryptocurrency
Hodling is undoubtedly a reliable way for long-term investors to navigate the volatility of the cryptocurrency market and take advantage of its long-term potential. However, with a platform like YouHodler, holding on hand does not mean sitting on a near-illiquid asset.
This is because the platform offers you up to 8% annual interest on assets such as BTC, ETH, SOL , DOT, AVAX and PAXG. And if you own stablecoins like (for example USDT, USDC, USDP, BUSD, DAI, HUSD, TUSD and EURS using YouHoderl's cryptocurrency services, the annual interest rate goes up to 10.3%).
Interest is compounded weekly and we can withdraw funds at any time. It is worth noting here that all interest is paid in the same currency as the one you have. For example, if you have bitcoins, your interest will be paid in bitcoins (as opposed to fiat or some other cryptocurrency).
Another interesting aspect of the platform is that it does not have a native token. This means that you can rest easy knowing that there will be no bullshit shilling coins that are overpromising and potentially underperforming.
Trade with YouHodler
For starters, one of the biggest benefits of YouHodler is that it allows you to directly convert any cryptocurrency available on the platform to another. To elaborate, on most mainstream cryptocurrency exchanges, you may need to carry out a two-step conversation. For example, when converting Solana to Cardano, you may need to first convert SOL to USDT and then buy ADA with that USDT. In YouHodler, however, you can convert SOL to ADA directly.
With YouHodler, you can trade Bitcoin and other cryptocurrencies with a multiplier of up to 50x.
multiple HODLs
Multi HODL is a rewarding but risky service for anyone looking to profit from market volatility. It is an easy to use service with fast execution.
Basically, Multi HODL gives you the opportunity to capitalize on market movements. You can use this service to play your cryptocurrency regardless of whether the price of a cryptocurrency will rise or fall ("long" or "short").
You can use a multiplier of up to x50 to drastically increase your profit margin. While YouHodler suggests several methods to manage risk and never use 100% of your funds, keep in mind that trading with leverage will always increase risk levels proportionally.
YouHodler Turbocharger
Turbocharge is a unique feature based on the so-called “loan cascade” principle. Here you can clone your collateral for sizable profit should the price continue to grow.
Turbocharge allows you to clone your cryptocurrencies up to eight times with a 90% LTV (7 day rate). The platform only charges a flat fee, with no rollover fees or other hidden fees of any kind. You can set a “take profit” price and take full advantage of a bull run. On the other hand, however, there is an element of risk (as is the case with most high-risk, high-reward investments).
For perspective, let's say you drop 0.5 BTC on a 30-day loan at 90% LTV. You borrow 0.4 BTC, which means you now have a total of 0.9 BTC.
Now, imagine that the market comes to a standstill and the price of BTC falls by 15% in the next few days. This could cause your original BTC to be sold to cover your debt, meaning you will be left with less BTC than you started with. (Note that this is an overly simplistic explanation of the risk associated with Turbocharge.) YouHodler allows you to top up your loan anywhere between 3 and 10 times.
YouHodler Dual Assets
The Dual Asset service is an easy way to bet on cryptocurrencies or stablecoins and earn high-interest rates. It is a multi-faceted, win-win solution for users who want to participate in liquidity pools and trading protocols without the complexity of advanced DeFi platforms. The result is an easy-to-use crypto asset management product for everyone with returns of up to 365% in April.
This is a new platform service that was launched a few days ago. As the name suggests, Dual Assets involves linking two assets: a cryptocurrency asset and a stablecoin. This gives the user and the market the opportunity to earn a higher return based on predicting the future growth potential of an asset.
To get similar rates of return on DeFi protocols , several steps need to be followed. For example, you need to create a Metamask wallet, remember your seed phrase, buy your cryptocurrency on another exchange, deposit that cryptocurrency into Metamask, link your Metamask wallet to a liquidity pool or DeFi protocol, and confirm that you haven't made any mistakes. in the process and then start generating performance.
With YouHodler Dual Assets, you simply need to deposit crypto into your YouHodler wallets and open a deal using the Dual Assets feature. It's that simple and the returns are similar. It's like DeFi but fast and easy.
YouHodler Fees and Withdrawals
YouHodler ensures that funds are never blocked and that users can withdraw them at any time . In fact, this is a huge step in instilling trust in your growing user base.
The fees are generally competitive compared to other popular cryptocurrency exchanges. The pricing structure is relatively simple and transparent. Here are some commonly found fees:
- Withdrawals by bank transfer: EUR (SEPA) – 5 EUR, USD (SWIFT) – 1.5% (min 70 USD)
- Loan Close now commission: 1%
- Reopening Loan: Interest Fee + 1% Service Fee
- Increase in collateral and loan-to-value ratio: 1.5%
The fees charged for fiat to cryptocurrency conversions and cryptocurrency trading vary depending on the type of transaction. For example, the conversion fee from fiat to bitcoin is on the order of 0.5%. However, if you want to convert BTC to ETH, the fee will also be in BTC and may vary depending on the BTC price at the time.
Also Read: Is Block Earner Token worth the investment? How 7% fixed return option offers daily ?The minimum withdrawal limit is $5 to $50 for cryptocurrencies (including stablecoins).
YouHodler customer support
YouHodler was praised for its "award-winning" customer service. And apparently, they are not far from the facts as the platform seems to get very positive feedback from users online.
The website contains many educational materials and answers from the YouHodler team on most problems. There is also a chatbot in the Help section of the website in case you don't find anything specific in the tutorials. And if that doesn't work either, you can always contact a customer service agent via online chat or email and have a call back within 2 minutes.
Disclaimer
All information contained on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.
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