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The text below is an advertising article that was not written by reporters at Cryptonews.com.
Owning your crypto assets (or HODLing) is widely considered to be one of the best things you can do with them. However, you can feel like you are missing out on something by not taking advantage of price fluctuations, dips and spikes, etc. to make the most of what you own and increase your holdings, however risky that may be. Fortunately, YouHodler is a service that offers an alternative to just letting your funds sit: you can lend them and earn interest, or just keep them in a savings account and earn interest again at competitive rates.
Savings account
If you have crypto lying around, you might want to put it in a savings account and actually earn more crypto on it. On YouHodler, the percentage will vary depending on the coin you deposit: you can get the most out of stablecoins, which will net you 12% or more, but other coins have decent Annual Percentage Rates (APRs) as well. For example, Bitcoin (BTC) will earn you 4.8% of the amount deposited on an annual basis, while Ethereum (ETH) has an interest rate of 5.5%. YouHodler offers a total of 33 different coins that you can put into a savings account with varying degrees of interest. Still, the lowest they can reach is 2.5%, which is still decently high.
In comparison to traditional finance, the comparison service Bankrate puts the US national average APY for savings accounts at a measly 0.06%. The highest APY in June 2021 was 0.61%. For crypto holders, interest rates this low are unimaginable: the least you can get is 2.5% on an annual basis for Augur (REP), while all other coins will earn you much more than that. . In addition, you will be paid on a weekly basis; there is no need to wait any longer, which is often the case in traditional institutions.
Loans
If you need funds, YouHodler also offers loans. You can use 30 different cryptocurrencies as collateral with a 90% loan-to-value ratio, which means your loans will need to be oversized. Of course, that’s not a problem as long as you know you’ll be paying off the loan on time: over-collateralization is the norm when it comes to crypto borrowing and lending. This loan-to-value ratio is available for a 30-day loan: if you need more time to return the funds, you will get a loan-to-value ratio of 50% for a 180-day loan, and 70% for a 61 day loan. Of course, if you can’t repay the entire loan, you won’t receive your full collateral.
The loans you receive can be repaid in EUR, USD, CHF and GBP and instantly withdrawn to personal credit cards and banks. The minimum amount is $ 100, which is the lowest in the industry – other services often require you to subscribe $ 1,000 or more.
Other services
In addition, YouHodler also offers an exchange with universal conversion between all altcoins and stablecoins, as well as fiat. There is also a Multi HODL service, similar to margin trading, where you can earn up to 30 times your holdings. However, this comes with all the risks of your regular margin trading, so be sure to do your due diligence and only invest what you can afford to lose.
To sum up, if you have crypto lying around and want to put it to good use, YouHodler is the platform for you. Whether you want to earn interest on your savings account or take out a crypto-backed fiat loan, this is the place for it. Have a good negotiation!
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