YouHodler Review: Features, Pros, & Cons

Wish you can get increased interest rates in your property and do extra with the crypto in your portfolio? YouHodler is likely to be what you want.

YouHodler is a handy solution to entry interest-bearing crypto accounts, crypto-backed loans, and superior trading instruments multi function place.

But is YouHodler the fitting option to your wants?

In this YouHodler review, we’ll take a more in-depth have a look at what the corporate has to offer. We’ll talk about its features, pros, and cons, that can assist you discover the right investing platform to your crypto.

→ Visit now: www.YouHodler.com

What Is YouHodler?

YouHodler is a fintech firm that provides crypto-related features to buyers, equivalent to high-yield crypto accounts and crypto-backed loans.

It was based in 2017 by a crew of skilled monetary professionals. YouHodler is at present headquartered in each Switzerland and Cyprus, however it affords providers to buyers across the globe.

YouHodler’s mission is to “help people stop passive hodling and use crypto assets right there, right now.” The platform boasts a user-friendly interface the place buyers can develop their crypto portfolio with minimal trouble.

How Does YouHodler Work?

If you need to use YouHodler, your first job is to create an account. Here’s what it takes to get began with the platform.

Getting Started

Before you possibly can start investing with YouHodler, it is advisable decide for those who’re eligible for an account. YouHodler is on the market in most international locations, with a number of exceptions. For instance, it’s not out there within the U.S.

If you’re eligible for an account, your subsequent step is to collect the documents it is advisable join. You’ll want to gather the next info to get began:

• Full identify
• Date of delivery
• Email address
• Phone number
• Physical address
• Source of funds
• Beneficiary info

YouHodler additionally requires that you simply submit a duplicate of a legitimate government-issued photograph ID in addition to a selfie of you holding that ID. However, you possibly can solely submit a passport or worldwide identification card, not a driver’s license.

Opening an Account

As quickly as you’ve all of the required documents, you possibly can create your YouHodler account. The onboarding course of is pretty simple and you may get began by clicking the signup button on the corporate’s website.

→ Visit now: www.YouHodler.com

You’ll then enter an electronic mail address and a password. Next, you’ll be requested to confirm your electronic mail address. After you confirm your electronic mail, you’ll have entry to your account profile. Here, you possibly can full identification verification.

There are 4 elements to YouHodler’s identification verification course of:

1. Upload a photograph of your legitimate government-issued photograph ID
2. Take a selfie together with your ID doc
3. Enter your personal info
4. Indicate your supply of funds (e.g., employment)

When you end the identification verification course of, you’ll submit your utility. Most accounts are accepted robotically however it might take as much as 24 hours earlier than you possibly can start trading.

Funding Options

Investors with YouHodler can deposit any supported cryptocurrency or fiat currency into their accounts. Supported fiat currencies embody:

• US Dollar (USD)
• Euro (EUR)
• British Pound (GBP)
• Swiss Franc (CHF)

The following fee methods can be found for fiat deposits and withdrawals to your YouHodler account:

• SEPA switch
• SWIFT switch
• AdvCash (wire switch & credit/debit card)

Cryptocurrencies Available on YouHodler

→ Visit now: www.YouHodler.com

YouHodler helps greater than 35 cryptocurrencies. Some of probably the most common cryptocurrencies on the platform embody:

• Bitcoin (BTC)
• Ethereum (ETH)
• Chainlink (LINK)
• Litecoin (LTC)
• Tether (USDT)
• Ripple (XRP)
• Stellar Lumens (XLM)
• USD Coin (USDC)

YouHodler Features

YouHodler affords a number of unique features for buyers. Here’s what you may get for those who open an account:

Crypto Loans

YouHodler’s flagship characteristic, crypto loans, are a fast solution to get entry to fiat currencies or Bitcoin (BTC) with out the necessity to sell your crypto property. Currently, YouHodler affords three totally different mortgage to worth ratios relying on the period of the mortgage:

• 30 days — 90% LTV
• 60 days — 70% LTV
• 180 days — 50% LTV

How it really works is straightforward: If you want a mortgage, you place your crypto up as collateral. Then, you choose a loan-to-value (LTV) ratio and ensure your mortgage fee phrases earlier than submitting an utility.

Most mortgage functions are accepted inside seconds. You’ll then receive your mortgage fee in Bitcoin or fiat. Your funds will immediately be despatched to your bank account, credit card, or exterior wallet. You’ll have till the top of your mortgage interval to repay YouHodler. Or, you possibly can lengthen your mortgage period for an additional fee.

Note that the interest rates on these loans are typically fairly high. Also, take into account that these loans will not be risk-free and you can default if there’s a serious market downturn.

As an instance, right here is how the three totally different mortgage varieties work at YouHodler on a $5,000 mortgage that makes use of Bitcoin (BTC) as collateral:

Exchange

The YouHodler exchange helps fiat-to-crypto and crypto-to-crypto trades of any of the agency’s out there fiat and crypto-assets.

On the YouHodler Exchange, you merely have to enter the currency you need to spend (e.g., US {dollars}) and the currency you need to buy, equivalent to Bitcoin (BTC). All purchases are processed as market orders and most funds can be found in your account immediately.

However, there’s a $30 minimal for all transactions. Trades on some crypto-to-crypto trading pairs may take as much as half-hour to course of earlier than your funds can be found in your wallet.

Earn Interest on Crypto

Another key YouHodler characteristic is the corporate’s interest-bearing crypto accounts. These accounts allow you to earn upward of 12.3% in curiosity in your digital property.

You can invest a minimal of $100 and a most of $100,000 to earn curiosity with YouHodler. But, there aren’t any lock-up durations and you may withdraw your funds at any time. Your curiosity is paid weekly into your account the place it may well develop passively for as long as you’d like.

Keep in thoughts that YouHodler’s interest rates can change at any time. The firm at present affords a lot increased charges for stablecoins than for different digital property, too, so double-check the present APR earlier than you join.

Here are some examples of the interest rates you may get with YouHodler:

Multi HODL

Multi HODL is one in all YouHodler’s most unique features. It might be described as a form of mix of automated margin and choices crypto trading.

But what does Multi HODL truly do?

Multi HODL is successfully a software that helps you multiply potential profits when trading crypto. You can select a supported cryptocurrency, the path you assume its price goes to maneuver (up or down), and the way a lot risk you possibly can tolerate.

Once you achieve this, Multi HODL begins borrowing or promoting funds for you in an try and make you a profit. If the market strikes within the path you predicted, Multi HODL will deposit your profits into your account. If the market doesn’t transfer as you anticipated, Multi HODL will subtract your losses out of your account.

YouHodler states that, in contrast to with conventional margin trading, you possibly can’t lose greater than you initially invested when utilizing Multi HODL. However, there’s actually risk concerned with this software, so do your analysis earlier than you start trading.

Turbocharge

Turbocharge is yet one more unique characteristic from YouHodler. It’s a margin trading software the place you possibly can leverage your present property in a bull market.

With this characteristic, YouHodler enables you to take out a so-called “cascade of loans” the place you possibly can rise up to six.5 instances the leverage in your crypto property. You can then set a take-profit price in order that your position robotically closes earlier than an asset’s price has an opportunity to lower. When this occurs, your profits are used to repay your loans and the remainder is deposited in your account.

Of course, it’s doable to lose money when trading on a margin. Therefore, YouHodler enables you to set a decrease limit on an asset’s price so you possibly can robotically liquidate your position and reduce loss. Nevertheless, there are dangers to trading with Turbocharge and it’s not applicable for everybody.

→ Visit now: www.YouHodler.com

Crypto & Bitcoin Wallet

Every YouHodler account contains free crypto wallets. Your wallets are created as quickly as you join. They present all of the important features that you simply’d anticipate from a crypto wallet – together with the chance to ship and receive crypto — with out the necessity to set one up.

Note that each one funds in YouHodler wallets are held in custody by the corporate. That implies that the agency has full management over your private keys. While YouHodler does preserve most client funds in cold storage, there’s all the time a risk of loss once you preserve funds in a custodial wallet.

Collateral on NFTs

Investors can now take out loans with YouHodler through the use of NFTs as collateral. The firm can offer this characteristic as a result of they’ve a pawnbroker license in Switzerland. As a outcome, they’ll offer loans on digital artwork, identical to a pawnbroker would on bodily artwork.

To get an NFT-backed mortgage, you merely must electronic mail the corporate and supply as a lot details about each your NFT and the mortgage you need to take out. YouHodler’s buyer service crew will then let you realize if they’ll course of your NFT-backed mortgage and on what phrases.

Referral Program

YouHodler at present affords a referral program for all account holders. If you refer a pal to YouHodler they usually deposit no less than $1,000 price of funds, you may get one in all two rewards:

• An extra 0.50% curiosity on one coin for 3 months
• A completely increased most limit of $10,000 in your curiosity account

However, the corporate doesn’t offer referral hyperlinks so that you can share with associates. Rather, it is advisable electronic mail YouHodler’s buyer service crew straight to inform them about every referral.

Mobile App

In addition to a web-based dashboard, YouHodler has a highly-rated mobile app (iOS and Android). You can entry the entire firm’s features from the app, together with Multi HODL, Turbocharge, and crypto-backed loans.

The YouHodler app additionally has a glossy interface and a user-friendly design. It affords real-time market information, too, so you possibly can keep up-to-date on the most recent crypto tendencies.

YouHodler Pricing & Fees

YouHodler’s pricing and costs schedule is complicated. Here are an important charges to learn about earlier than opening an account.

Exchange Fees

All crypto trades on the YouHodler exchange incur a fee. YouHodler isn’t clear about what this fee is, however you’ll see a fee quote earlier than you place an order.

These charges can range, however most fiat-to-crypto trades incur a trading fee of about 0.2%. Most fiat-to-stablecoin and fiat-to-fiat trades have a fee of about 1%.

Multi HODL and Turbocharge Fees

There are charges for utilizing each Multi HODL and Turbocharge in your YouHodler account.

For Multi HODL, it is advisable pay a rollover fee (i.e., an curiosity fee) for every hour that your position is open. This is a variable rate that you simply’ll see earlier than you open a position. Additionally, in case your trades are worthwhile, you’ll pay a profit share fee. This fee varies, however it’s usually beneath 1%.

If you utilize Turbocharge, you’ll pay the curiosity rate in your loans. If you need to close your margin position utilizing your collateral by the platform’s “Close Now” characteristic, you’ll pay a 1% fee.

Deposit & Withdrawal Fees

YouHodler’s deposit and withdrawal charges are sophisticated. They range by currency and fee methodology.

Deposits to the platform incur the next charges:

Withdrawals from the platform have the next charges:

Loan Fees

All crypto-backed loans with YouHodler are charged curiosity charges. Additionally, it’s possible you’ll be answerable for the next charges in your mortgage:

YouHodler Security & Insurance

To defend investor property, YouHodler employs a number of security strategies, together with enhanced encryption and Ledger Vault know-how. YouHodler additionally shops client property in each hot and cold wallets for extra security.

As far as insurance coverage goes, the corporate maintains $150 million in insurance coverage by Ledger Vault’s pooled insurance coverage program. This program is backed by Arch Insurance and it covers losses within the occasion of theft.

→ Visit now: www.YouHodler.com

YouHodler Customer Support

The main supply for assist together with your YouHodler account is the corporate’s detailed assist pages the place you may get solutions to commonest questions.

Additionally, YouHodler maintains a chat-based buyer help crew that you could entry both within the mobile app or in your on-line dashboard. Response instances for the chat service are usually pretty fast throughout European workplace hours. There’s additionally a buyer help electronic mail address, however this has slower response instances.

YouHodler Pros

• Large number of supported crypto and fiat currencies
• Offers high curiosity on crypto property (particularly stablecoins)
• Has insurance coverage protection for property in client wallets
• Ability to take out a crypto- or NFT-backed mortgage
• Options for leveraged trading by Multi HODL and Turbocharge
• User-friendly interface and easy onboarding course of
• Beginner-friendly crypto exchange with typically affordable charges
• Chat-based help out there in-app and on-line

YouHodler Cons

• Not out there within the US or to US residents overseas
• High deposit and withdrawal charges for some fee methods
• Confusing fee and account limit schedule
• Lacks transparency about exchange charges
• Can get increased curiosity on altcoins at different exchanges
• Loan interest rates are increased than common

YouHodler Alternatives

Not positive that YouHodler is the fitting option for you? Here are some nice YouHodler options to take a look at.

Gemini

If you desire a platform the place you possibly can buy and sell dozens of prime cryptocurrencies, Gemini is likely to be what you want.

→ Visit now: www.Gemini.com

Gemini is a New York-based crypto exchange that’s identified for having a number of the highest security requirements within the {industry}. The firm affords a newbie and a sophisticated trading terminal, interest-bearing crypto accounts, a crypto rewards credit card, and the flexibility to pay for day by day purchases utilizing your crypto property.

The draw back? Gemini’s interest rates are normally decrease than YouHodler’s and it doesn’t offer crypto-backed loans. But for those who’re extra fascinated about trading than in loans, Gemini is effectively price contemplating.

BlockFi

BlockFi is one other New York-based crypto dealer that gives high-yield crypto accounts and crypto-backed loans.

→ Visit now: www.BlockFi.com

Its main profit over YouHodler is that it’s out there within the US. Additionally, BlockFi’s mortgage charges are typically a bit decrease. The firm additionally affords a crypto rewards credit card and decrease charges for deposits and withdrawals.

When in comparison with YouHodler, BlockFi doesn’t help as many cryptocurrencies and it solely helps loans of as much as $10,000. But, for US-based buyers who need entry to crypto-related monetary instruments, it’s a positive wager.

Who Is YouHodler For?

YouHodler is a strong option for buyers outdoors the US that need entry to an array of crypto-related trading instruments. It’s greatest for merchants that choose a simplified investing dashboard and that don’t thoughts paying further charges for comfort.

Additionally, YouHodler is a perfect platform for anybody that wishes to enterprise into margins trading in a extra user-friendly atmosphere, like what you get with Multi HODL and Turbocharge.

However, most of YouHodler’s features have some potential for loss within the occasion of a market downturn. So, it shouldn’t be considered a risk-free crypto-themed different to conventional financial savings accounts.

→ Visit now: www.YouHodler.com

YouHodler FAQ

Here are our solutions to a few of your mostly requested questions on YouHodler:

Is YouHodler Safe?

Overall, YouHodler is a good, well-established firm within the cryptosphere. The agency gives insurance coverage protection and industry-leading security for all accounts. But, there’s all the time a risk of monetary loss, particularly for those who use YouHodler’s leveraged trading instruments, like Multi HODL or Turbocharge. Never risk greater than you’re keen to lose when investing in crypto.

Is My Cryptocurrency Safe with YouHodler?

YouHodler affords high-end safety and security features to guard your account from hacking makes an attempt. The firm additionally has restricted insurance coverage within the occasion of a platform-wide security breach. However, there’s all the time a risk of loss once you preserve crypto in a custodial wallet, like what you get with YouHodler.

Is YouHodler Available within the U.S.?

YouHodler shouldn’t be at present out there within the U.S. or in any U.S. territories. The platform isn’t out there to U.S. residents, even these residing overseas.

How Do You Get Paid on YouHodler?

If you earn curiosity on property held in your YouHodler account, your curiosity can be paid weekly straight into your custodial wallet. Interest is paid in-kind, so for those who earn curiosity on Bitcoin (BTC), it will likely be paid in BTC.