What is YouHodler? And how does it work?
Today I want to talk to you about a very interesting opportunity in the world of cryptocurrencies linked to the YouHodler platform and the products it offers. So, if you are looking for more information on this service, I tell you right away that you are in the right place!
In this article we will see what YouHodler is, how to register for the service and, most importantly, how it works. In other words, we will deal with the main products offered by YouHodler, analyzing the characteristics of each of them.
We will end with some opinions and reviews on the service and with some frequently asked questions on the subject. At the end of reading this article you will clearly know what YouHodler offers and you will be able to fully understand if this platform is for you.
YouHodler: what is it? Service review
YouHodler (here the official website) is a service that deals on the one hand with loans in FIAT currencies covered by cryptocurrencies and on the other with investments in crypto with the aim of obtaining a certain interest rate. It can be compared to the P2P lending systems that already exist, only that this focuses on holding digital currencies and a meeting between investor and borrower is not necessary, as everything is done through the platform itself.
The company that belongs to YouHodler is of Swiss origin and has just launched the service in 2019. In a short time, the platform has made itself known in the world of crypto, thanks to the fantastic products offered and its ease of use.
Just to give you an advance, through YouHodler you can on the one hand obtain loans in FIAT currencies covered by cryptocurrencies as collateral and on the other invest your crypto in loans in exchange for a variable interest depending on different factors (of which the type of cryptocurrency in the first place).
Unlike traditional FIAT currencies, such as the euro and the dollar, in fact, cryptocurrencies are by their nature characterized by greater volatility, which is why the loans and investments related to them will have an interest rate that must take this into account.
We will talk about the numerical details in a dedicated section of this article. For now I want to focus on telling you that to date YouHodler is a platform fully regulated by the law in force under the investment regulations (operating in Switzerland, it acquired the Fintech lisence). For this you do not have to worry, from the investor's point of view, to pledge your financial assets on it.
How to register on YouHodler
Registering with YouHodler is very simple. Starting from the homepage (which you can find at this link), click on the "Get Started" button (or "Let's start" if you have changed the language to Italian, which I do not recommend given the imperfect translation). You will see the following screen:
At this point you just need to enter your email and create a password (minimum length 8 characters of which at least one number). Also check the clauses on YouHodler updates and on terms, data processing, privacy and AML / KYC policies.
Click on the "Sign Up" button to complete your registration. You will receive an email confirming your email address.
Note that under it the YouHodler managers wanted to reiterate that everything is managed through Ledger, which in addition to dealing with the management of cryptocurrencies also provides insurance against cybercrime for a total of 150 million dollars.
In accordance with current legislation, all YouHodler customers, both investors and borrowers, must be subject to the identity verification process (KYC) in order to avoid suspicious actions related to money laundering (AML). In particular, you will need to provide the following data:
- Name and surname
- Company name (where applicable)
- Date of birth
- Address
- Nationality
You will also need to upload an identification document, which can be a passport, identity card or driver's license.
Cryptocurrencies available on YouHodler
The cryptocurrencies available on YouHodler depend on the type of product chosen (I'll tell you about the products available in the following section of this article).
For loans in FIAT currencies with crypto as collateral and Multi Hodl we have the following crypto available:
- Bitcoin (BTC)
- Ethereum (ETH)
- Paxos Gold (PAXG)
- Chainlink (LINK)
- Huobi Token (HT)
- Binance Coin (BNB)
- Ripple (XRP)
- Stellar (XLM)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Bitcoin SV (BSV)
- EOS (EOS)
- Augur (REP)
- Basic Attention (BAT)
For interest-guaranteed savings plans we have the following crypto available:
- Chainlink (LINK)
- Tether (USDT)
- USD Coin (USDC)
- Paxos (PAX)
- TrueUSD (TUSD)
- Come on come on)
- HUSD (HUSD)
- Bitcoin (BTC)
- Ethereum (ETH)
- Pax Gold (PAXG)
- Huobi Token (HT)
- Binance Coin (BNB)
- Ripple (XRP)
- Stellar Lumens (XLM)
How YouHodler works: main products
YouHodler is available both as a browser-based application and as mobile app for mobile. There are four main products that it makes available to you, relating to investments and loans:
- Crypto loans (collateral)
- Investments with interest
- Multi HODL
- Turbocharge
Let's go through them one by one.
Crypto Loans
The first product offered by YouHodler is given by loans in FIAT currencies (EUR, USD, GBP or CHF) or stablecoins (such as Tether, USDT) covered by an investment in cryptocurrencies as collateral. Loans can be requested, for example, with a maturity of 30, 60 and 180 days.
But let's take an example, following the directions shown in the image above. In this case, the user owns 1 Bitcoin and wants to obtain a loan in FIAT currency, in this case USD. This is equivalent to obtaining an amount at the current exchange rate of $ 9,278.73 if you decide to take out a 30-day loan.
Since each cryptocurrency has a certain volatility, a maximum range of variation BTC / USD of 5% is set (this value increases for longer periods of the loan).
To repay the loan and its interest, the user has two options:
- Pay the amount received + the difference in USD (in this case 9436.47 - 9278.73)
- Scaling the consideration owed on your Bitcoin holdings.
What I want to highlight is that the loan is obtained from the platform. There is no need to find an investor like in other P2P lending platforms. Click below to find out more and get your loan.
Investments with interest
On the other side of the coin, what you can do on YouHodler is invest in cryptocurrencies and get interest, which is deposited into your wallet every week.
In this case the procedure is very simple. Just sign up with YouHodler, deposit in FIAT currency and invest in cryptocurrencies. Alternatively, you can also transfer crypto from other online wallets. You will get interest which depends on the type of digital currency. Let's see the detail below:
- LINK 6.2%
- USDT 12%
- USDC 12%
- PAX 12%
- TUSD 12%
- GIVE 12%
- HUSD 12%
- BTC 4.8%
- ETH 4.5%
- PAXG 8.2%
- HT 3%
- BNB 3%
- XRP 4.5%
- XLM 4.5%
As you can see yourself, you get to considerable interest values, even as high as 12%. This is a valid investment opportunity, especially in the case of stablecoins, which by definition have low volatility. Access the YouHodler services by registering for free:
Multi HODL
Multi HODL is a tool developed by YouHodler that allows you to multiply your earnings through a complex mechanism of investments and sales depending on the trend of the crypto you have decided to invest in.
Let's spend a few more words on how Multi HODL works. According to YouHodler experts, you should spend 80% of your investments on this platform in classic savings, which guarantees you an interest of up to 12% per year, while 20% of your assets can be invested through the Multi HODL product, which consists in small speculative bets with a potential profit of up to 290% (and a loss of up to 50%).
To use Multi HODL follow the steps below:
- Select a source for your cryptocurrencies, if your wallet or savings are of interest
- Decide the level of risk and take profit (profit value at which the transaction ends)
- The YouHodler algorithm will do the rest.
Overall, Multi Hodler works according to a process similar to trading on margin, without paying the costs of leverage. Click to learn more.
Turbocharge
Turbocharge complements YouHodler's product set and works according to the cascade lending mechanism.
Turbocharge allows you to multiply the value of your cryptocurrencies pledged as collateral for a loan in FIAT currencies to obtain a profit if their value increases. From the first loan, the platform uses the borrowed funds to buy other cryptocurrencies and obtain a new loan. The process can be repeated 3 to 10 times, according to your will.
Find out more about this product by accessing the official YouHodler website.
Deposit and commissions on YouHodler
Let's now look at the deposit and withdrawal fees on YouHodler. For the deposit:
- SEPA wire transfer without commission (1-3 business days)
- Credit / debit card 4.5% (instant)
- AdvCash 1% (instant)
- Cryptocurrencies without commissions
Minimum deposit of 5 USD or the equivalent in cryptocurrency.
We have the following fees for withdrawals:
- SEPA transfer 5 euros
- Credit / debit card 5%
See all the details of the deposit and withdrawal fees at this link.
YouHodler: Opinions and Reviews
But let's talk about the opinions and reviews of those who have used YouHodler firsthand. On Trustpilot, the worldwide recognized review site, this service has a rating of 4.7 out of 5, which shows that it is not a scam but a well-made platform and, above all , functioning both from the point of view of the investor and the borrower.
Frequently asked questions and answers
We have come to the end of this article. Before we say goodbye, let's answer some of the most frequently asked questions other readers like you usually ask about YouHodler.
What is YouHodler?
YouHodler is a platform that allows you on the one hand to invest in crypto by obtaining interest and on the other hand to receive loans in FIAT currency by providing a guarantee in crypto.
How to register on YouHodler?
Registering with YouHodler is very simple. Just go to the homepage (which you can find at this link) and click on the “Get Started” button. Then fill out the registration form and confirm your email.
What are the interest rates generated by investments?
The interest rates generated by investments on YouHodler range from 3% to 12% per annum, depending on the cryptocurrency you invest in. They are given out on a weekly basis.
What cryptocurrencies are available on YouHodler?
About twenty cryptocurrencies are available on YouHodler. See the details on the homepage of the site by clicking on "Coins".
What fees does YouHodler charge?
Deposit: Free SEPA Transfer, 4.5% Credit / Debit Card, Free Cryptocurrency. Withdrawal: SEPA transfer 5 euros, credit / debit card 5%. Cryptocurrencies: BAT 10, REP 0.2, LINK 0.5, PAXG 0.005, other cryptocurrencies 0.
Is YouHodler Safe?
Certainly. The company that belongs to the platform operates under a Fintech license.
How can I deposit on YouHodler?
On YouHodler you can deposit via SEPA transfer, credit / debit card, AdvCash and cryptocurrencies from other wallets.