We first used them in 2019 when they had just expanded to feature several other services, including some creations of their own and we'll take a look at those too. Now in 2021 we continue to evaluate this popular choice.
One step I take before going in to my own review, is scanning various crypto communities for mentions of the company, to hear other peoples experiences. Just to make sure if I had a good experience, it doesn't turn out to be a rare thing. Or, if I had a bad experience and others are saying a company is great, I need to be open to the possibility that my bad impression just isn't accurate, but rather an anomaly.
In the case of YouHodler, I was unable to find any angry customers posting complaints. So, off to a good start!
Now lets take a look at what they offer!
Bitcoin & Crypto Loans At YouHodler...
Here is where YouHodler really excels for one obvious reason - their loan-to-value rates!
I was extremely disappointed when I first set food into the crypto loan world, finding out that i'd need to deposit $10,000 to get a $5000 loan just made the whole thing seem like it wasn't worth doing.
But YouHodler is still to this day offering their 90% Loan-To-Value loan, which has an interest rate of just 3%!
Not sure how they do it, but that's not my problem - it works and you get the funds right away.
Also worth noting - you can use 12 different cryptocurrencies as collateral!
The majority of lenders are bitcoin only, with a few accepting Ethereum as well. So, this is another area YouHodler stands out.
Turbocharge Loan - Instantly Multiply Your Bitcoin...
This is one of their inventions, something some savy traders have been doing on their own but could take hours to fully execute. YouHodler has it down to 1 click with their "turbocharge" tool.
It works by using your bitcoin loan to buy more bitcoin, like:
Loan 1: 1 BTC
Loan 2: 0.864 BTC
Loan 3: 0.746496 BTC
Loan 4: 0.644973 BTC
Loan 5: 0.557257 BTC
Now, the user with 1 BTC suddenly has 3.812726 BTC, and positioned to score bit during a bull run. YouHodler explains the smart way to use this:
"Perhaps the best part of this strategy is that it’s a moderate risk. Users can always repay the crypto loans back using the same “chain” strategy. For example, users can repay the smallest loan in the chain, get back some BTC and convert this BTC to fiat to use towards paying back the next loan in the chain. Take note that the amount taken from the 5th loan in the chain will not be enough to repay the 4th loan. The user will need to add a small amount to this in order to pay back the 4th loan (applicable for a case when the price is less than +12.7%). By repaying the chain of loans using this method, clients only need to pay the loan interest for the additional 2.812726 BTC in order to get their 1 BTC (original collateral) back."
Next time you feel a bull run coming, and turn out to be right - you don't need to stare at the charts wishing you bought more - turbo charge your existing holdings!
Earn Interest On Coins You're Saving Anyway ...
This doesn't take too much explaining - you can earn 12% on stablecoins, and 7.2% on Bitcoin by simply leaving your coins for storage on the platform.
So if you're currently just letting what you're HODLing long term sit in a wallet doing nothing, you should seriously consider earning interest and turning them into active income.
Big advantage here is that you get your interest earnings in a monthly payment, which you can immediately spend as you wish.
Our Official Conclusion:
YouHodler should be among the first places you try - they're just getting a lot of things right!
Crypto lending platforms aren't rare anymore, neither is the ability to earn interest on your coins - but you won't find platforms with terms as user-friendly as YouHodler's.
Then, their 'TurboCharge' just earns them points for having a feature that's useful, but can't be found anywhere else.
Our Readers Get The VIP Treatment!
So - check them out here and since you followed the link from our site, we've arranged with YouHodler to give anyone who signs up from here special terms, including more time to pay back your loan with no penalty!
London News Desk
CryptocurrencyLoans Team | YouHodler Review