YouHodler, a crypto lender and exchange, offers high interest rates on crypto deposits. It is not available in the U.S., and may be more transparent about risk, rates and fees. Customers can use crypto for short-term loans or to borrow funds to trade advances. This review will help you determine if YouHodler is a good option.
What YouHodler has for you
YouHodler is available to those who wish to borrow cryptocurrency or receive a high rate of interest on their cryptocurrency.
Crypto loans that are funded by depositors have a high interest rate. More than 30 top cryptocurrencies are available on the platform, including ADA, BTC, BCH, and BNB, as well as DASH and ETH. LTC, XLM. XRP. HT.
The digital wallet by YouHodler can be used to store any coins that a customer might like to earn interest in. It supports both fiat and cryptocurrency currencies. The mobile app by YouHodler allows you to access the wallet.
Earning interest in crypto
Investors in cryptocurrency can only make a profit if the value of the coins they own goes up. You will have to sell your crypto in order to capture this profit.
You can’t also buy and hold crypto standalone. If you are looking for this, you will need to find an exchange that offers interest.
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78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.
CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
YouHodler can lend your crypto to you. YouHodler can lend crypto to earn anywhere between 3% and 15%. To earn interest, you must have $100. Each week, interest is compounded.
How to apply at YouHodler for a loan
These are the steps to request a loan from YouHodler:
- There are many ways to apply for a loan using Bitcoin or fiat. You can also use any altcoins you have as collateral to obtain the initial loan. You can find more information at the top BTC loan sites.
- Apply online for a loan. Next, pledge your crypto portfolio assets. Instantly, the user receives the agreed loan amount. You can choose to receive the agreed loan amount in USD, EUR, or GBP. After the loan is repaid, they can get their collateral back. Even if the collateral’s value has decreased, this is still possible.
- YouHodler makes it easy for you to obtain a loan. It is easy to obtain a loan through YouHodler. The first step is complete once the user has confirmed that they have an account.
YouHodler Loan Terms and Amounts
According to YouHodler’s review it offers several loans with different terms and conditions. Three loan terms are available: 30 days with LTV of 90%, 60 with LTV 70%, and 180 days with LTV 50%.
The interest rate is determined by the type of loan chosen by the user, and not the amount of collateral that the user provides. The interest rate is the same for all users. It is also possible to predict that interest rates will decrease as the community grows. YouHodler has an affiliate program. This allows others to invite you via referral links and allows you to earn cryptocurrency simultaneously.
Fees
Bank wire withdrawals incur a 5% charge, while credit card withdrawals will require a 3.5% fee. There are fees associated with crypto loans.
- Close Now Fee – 1% Discount on the Overdraft Balance
- Reopen – Interest fee + 1% service fee (from the borrowed amount).
- Extension of PDL – 1.5% additional collateral
- LTV Increase – 1.5% of the Greater Amount
Multi HODL deals with a profit will incur a profit share fee. In one example YouHodler provided, the fee was 0.45%. This fee was 0.45% in one example YouHodler provided. We are not able to confirm whether this is the amount traders pay to make profitable deals. If your Multi HODL trade falls within the scope of a margin call, a service fee will be applied. We could not find any explanation as to how the fee was calculated.
It is not known what YouHodler users pay for currency conversions/buys. According to the company, it will introduce market pricing rates. These will be “executed with the most accurate market rate.”
YouHodler promised that customers would pay less for the new change. It offers a calculator which shows the conversion fees and total amount that you will receive for each fiat or crypto. However, we would prefer a more transparent and clear fee structure.
Pros and Cons
| Pros | Cons |
| Earn interest with crypto | It is not available in the U.S. |
| Borrow against your crypto | Transparency is lacking |
| Advanced trading tools | High APR Loans |
Is YouHodler safe?
YouHodler provides all security features that you would expect from a user level system. This includes TFA (two factor authentication). To increase security, customers who have more than $10,000 in their accounts can disable all withdrawal options.
It stores customers’ assets in a mix of hot and cold wallets. YouHodler, a digital asset security specialist, has made a deal with Ledger Vault. This means that the private keys are secured and encrypted, so they cannot be accessed or accessed by any staff of this lender.
Protection by Ledger Vault also includes $150 million of insurance against crime that pools to protect customers from theft and fraud. Customers’ funds will not be covered by the insurance in case an exchange crashes, as it does for many other crypto exchanges. FDIC insurance covers money in savings accounts against bank collapse, but not crypto platforms.
YouHodler stated that it is a member of the Blockchain Association, which provides dispute resolution. Clients who feel disappointed by YouHodler may have recourse.
