Looking for an unbiased YouHodler Review? We got you covered today.
Bitcoin and cryptocurrencies are becoming more popular daily, but it can be hard to keep track of all the different wallets and exchanges.
With so many options available, it can be hard to know which bitcoin or cryptocurrency wallet is right for you. Do you choose a web-based wallet? A desktop client? An app?Â
YouHodler offers a unique all-in-one solution that allows users to store, borrow, trade, earn and spend their cryptocurrencies. Their user-friendly platform makes it easy for anyone to get started with Bitcoin and other cryptocurrencies.
What Is YouHodler?
YouHodler is a multi-faceted FinTech platform based in Europe that provides consumers with low-interest loans using crypto as collateral, crypto and stablecoin yield accounts, crypto exchange, and dual currency investment products.
YouHodler originally started out as a crypto-backed lending business founded on the premise that customers would HOLD their cryptos during down markets and sell them during bull markets. It has since evolved to include numerous features for a variety of crypto personalities.Â
YouHodler offers services like crypto loans, crypto exchange, earning interest, multi HODL, Dual assets, and Bitcoin & crypto wallets. We will check out these, in detail in this article.Â
According to the YouHodler evaluation, this exchange is a member of the blockchain organization and the Western Switzerland financial commission. It also acts as a venue for the settlement of any disputes outside of its platform.
This platform is classified as a centralized financial service, with 180 nations represented among its users. YouHodler gives weekly additions of compound interest to the user’s account. If the user does not choose to remove their interest, they can make a more significant profit. Interest is computed about every 6 hours.
How Does YouHodler Work?
YouHodler functions similarly to other crypto lending platforms in that a user must register and establish an account before gaining access to the platform’s loaning and exchange services. You may access the YouHodler platform through a web browser or mobile application.
The account verification process comprises the completion of a brief questionnaire, the uploading of a valid ID, and the submission of a proof of address.
Once an account has been thoroughly validated, all of YouHodler’s services, such as crypto loans, conversions, and savings, will be accessible.
A YouHodler user can access a YouHodler wallet that initially contains a few fiat currencies, stablecoins, and crypto assets. Users can add wallets to assist the depositing, withdrawing, and growing of various crypto and fiat assets.
Using the YouHodler platform is an effortless endeavor. The user may obtain whatever information they like on bitcoin investing and ownership. This tool allows them to maximize the value of their crypto assets.
The YouHodler wallet is one of the basic and practical solutions offered by the site. It enables users to keep cryptocurrencies for investment reasons and convert and store their fiat or cryptocurrency assets.
The YouHodler crypto-to-fiat wallet allows users to manage their cash, get loans, and open crypto savings accounts on this platform.
Services Offered by YouHodler
- Crypto Loans:
Use over 50 of the most valuable cryptocurrencies as collateral for cryptocurrency loans with the most excellent 90 percent loan-to-value ratio. Borrow in EUR, USD, CHF, GBP, stablecoins, or cryptocurrencies, and withdraw promptly to credit cards, banks, or exchanges.
Options for payback timeline and loan-to-value flexibility.
Instantaneous funds from their fiat money No need to locate a lender, as in peer-to-peer lending.
Ledger Vault’s digital asset management system includes a $150 million crime insurance fund.
- Multi HODL:
Multi HODL is the most user-friendly trading solution for individuals who want to earn rapidly from market volatility in both directions (UP or DOWN). No order placements cost. No profit-sharing charge. Instant deposits and withdrawals. Online support 24/7.
Without restrictions, your profit is your profit. Always.
There is no withdrawal lock.
There are no sales managers who will pressure you to trade.
- Exchange:
Exchange cryptocurrencies, fiat currencies, and stablecoins with competitive fees and real-time execution costs. Purchase cryptocurrencies with a credit card (Visa, Mastercard) and your SEPA bank account.
every significant digital asset and stablecoin
Universal conversion between all cryptocurrencies, fiat currencies, and stablecoins
Secure wallet with support for the top 20 coins
- Dual Asset:
Dual Asset blends the yield creation tactics of decentralized finance (DeFi)Â with the straightforwardness of conventional FinTech platforms. The outcome is an easy-to-use crypto wealth management tool with up to 365 percent APR returns for everyone.
Without restrictions, your profit is your profit. Always.
More user-friendly than DeFi.
Excessive interest rates.
- Earn Interest:
Receive interest on Bitcoin (BTC), Pax Gold (PAXG), USD Coin (USDC), and True USD (TUSD), among other cryptocurrencies. Immediately transform your frozen assets into a sizzling profit by placing them into a crypto savings account and earning weekly interest.
Weekly compound interest on stablecoins and cryptocurrencies.
Ledger Vault’s digital asset management system includes a $150 million crime insurance fund.
- Bitcoin Walle (Supports over 50 cryptocurrencies):
The most sophisticated cryptocurrency wallet is available. HODL, earn, bet, and multiply in one location. They have integrated cryptocurrency interest accounts. Earn up to 11.28 percent APY in interest.
Has accounts with reputable banks
Secure cryptocurrency wallet
- Coins:
YouHodler offers an expanding selection of coins for crypto savings accounts. These low-risk, high-yield savings accounts allow customers to earn a high-interest rate on cryptocurrencies.
Possibility of using money as collateral for lending products.
Weekly compound interest on stablecoins and cryptocurrencies.
Ledger Vault’s digital asset management system includes a $150 million crime insurance fund.
- NFT’s:
NFTs are digital assets based on the blockchain that may represent artwork, rare digital collectibles, virtual goods in video games, or any other digital/physical object.
YouHodler is authorized to accept NFTs as security.
You may get a quick loan with a maximum LTV of 90%.
Highly protected
Is YouHodler Legit?
YouHodler is a collection of services offering distinct crypto goods. The YouHodler wallet and conversion services are provided by Naumard Ltd., a 20-year veteran in the fintech sector.
YouHodler SA is the Swiss organization that provides Multi HODL, Turbocharge, crypto loans, and other conversions for YouHodler.Â
YouHodler is a member of the Crypto Valley Association (CVA), a Swiss-based global leader in blockchain ecosystems. YouHodler, as a member of the CVA, ties itself with the association’s promotion of secure and transparent operations.
Additionally, YouHodler is a member of the PolyReg General Self-Regulatory Organization, making it a recognized legal body by the Swiss Federal Money Laundering Control Authority.
YouHodler takes regulation and integrity seriously as a crypto platform company and a top worldwide crypto service provider. Their reputation as a swift and effective loan provider for consumers worldwide is constantly maintained to the best of their ability.Â
Is Your Cryptocurrency Safe With YouHodler?
YouHodler provides standard user-level security features, including two-factor authentication (TFA). Customers with more than $10,000 in their accounts may block all withdrawal options for further protection.
YouHodler maintains the assets of its users in a combination of hot and cold wallets. It does not specify what proportion of its cryptocurrency is stored offline in cold storage, but it has partnered with digital asset security specialists Ledger Vault. This indicates that private keys are encrypted and not handled by YouHodler personnel.
The Ledger Vault’s safety also includes $150 million in pooled insurance against crime, covering consumers in the event of fraud or theft. As is the case with most cryptocurrency exchanges, the insurance would not protect client money in exchange failure. FDIC insurance protects savings accounts against bank collapse. However, this does not apply to crypto platforms.
YouHodler states that it is a member of various organizations that provide dispute resolution, such as the Blockchain Association. If a customer feels cheated by YouHodler, they may have recourse.
Why Do I Recommend YouHodler?
- Good customer service: YouHodler has a TrustPilot rating of 4.5 out of 5. Reviewers praise their prompt customer service and high-interest rates. Some consumers offered YouHodler negative feedback, primarily for its withdrawal alternatives. Before transferring large quantities of money to a cryptocurrency exchange, you must be confident in your ability to withdraw it.
- Know your customer (KYC) and anti-money laundering (AML) practices that are stringent: Depending on your perspective, this may be seen as either a positive or a drawback. YouHodler is not for you if you want to trade cryptocurrencies incognito. If, on the other hand, you want confidence that you’re dealing with a firm that wishes to prevent money laundering, YouHodler takes this matter seriously.
- Advanced trading tools: YouHodler enables clients to purchase cryptocurrencies using leverage and other sophisticated trading methods. For instance, you may wager on the price of a cryptocurrency rising or falling (going “long” or “short”). You may also accelerate your investments by borrowing funds.
- Borrow against your crypto: YouHodler allows bitcoin owners who need cash to utilize their cryptocurrency as collateral. It provides excellent loan-to-value ratios (LTVs). LTV is the proportion of available collateral for borrowing. (For instance, if a person owned $1,000 worth of bitcoin and the LTV was 90%, they could borrow $900.) Since this is a secured loan, no credit check is required, and approval is often immediate. However, you will save on interest if you wait until you can pay the charges in full before taking out a loan.
- Earn interest on your crypto: When storing cryptocurrencies long-term, it makes sense to seek opportunities to generate interest in your holdings. Depending on the currency, and the market situation YouHodler pays around 5 percent interest on alternative coins and 12 percent interest on stablecoins. Interest is compounded weekly and paid in the same currency; depositing Bitcoin and receiving interest in dollars is impossible. At any point, you may withdraw your money. These rates are competitive with other cryptocurrency lenders on the market, but shopping around and assessing your alternatives is essential. For instance, you may earn money on some cryptocurrencies by staking them or providing liquidity. Each approach has benefits and drawbacks.
FAQs On YouHodler Review
Where is YouHodler currently based?
YouHodler is a firm located in Switzerland that provides crypto lending services through a safe and digital asset management system.
Can you purchase crypto on YouHodler?
Using the YouHodler platform's conversion/exchange feature, users may purchase cryptocurrencies using fiat money. The platform accepts USD, EUR, GBP, or CHF, deposits which are then converted to the user's chosen cryptocurrency.
Is YouHodler considered a cold crypto wallet?
YouHodler adheres to some of the most acceptable industry standards for cryptocurrency storage. A combination of hot and cold wallet storage is employed to hold YouHodler users' cash.
How safe exactly is YouHodler?
YouHodler claims that account security, transparency, and regulation are essential to them since they take their reputation seriously. The site has incorporated the storage solution from Ledger Vault, which insures up to $150 million in crypto assets. Additionally, YouHodler is required by law to restore crypto assets to its users.
What is YouHodler Turbocharge?
YouHodler's Turbocharge is a crypto-backed lending product based on a chain or cascade of loans used to leverage a cryptocurrency position. Like Multi HODL, a user may choose between 3 and 15 times for a crypto loan to be utilized to purchase another crypto loan. Those acquainted with leveraged trading might compare Turbocharge and Multi HODL to leveraged trading. As the number of loans in a cascade of loans increases, so do leverage and risk.
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Conclusion: YouHodler Review 2023
In conclusion, YouHodler is a reputable site that provides numerous advantages for bitcoin and crypto holders.
This platform is ideal for bitcoin holders who like to earn interest on their holdings rather than leaving them in their best cryptocurrency wallets. According to the YouHodler review, because of its high-interest rates, YouHodler is not the most excellent choice for long-term loans.
YouHodler is an excellent option if the user is searching for a short-term loan to meet their cash flow needs.
It creates various new opportunities for consumers to store their cryptocurrencies rather than sell them. If users need cash, they are not required to sell their cryptocurrency holdings; instead, they may borrow some money at a small interest rate.
