Introduction
YouHodler is a cryptocurrency lending platform that allows you to use your crypto as collateral to get a loan in fiat or stablecoins. The interest rates are really high, but if you're in a pinch and need cash, it's an option. In this YouHodler review, we'll take a look at the features, fees, pros and cons of the platform.
What is Youhodler?
Youhodler is a digital platform that allows users to buy, sell, and store cryptocurrencies. The company was founded in 2017 by two entrepreneurs, Ilya Volkov and Dmitry Dovgopoly. Youhodler is headquartered in Tallinn, Estonia.
Youhodler offers a variety of services including a cryptocurrency exchange, wallet, and debit card. Youhodler also allows users to earn interest on their holdings.
Youhodler is one of the leading crypto-to-fiat platforms with over 30,000 users from all over the world. The company has processed over $1 billion in transactions.
How Does Youhodler Work?
Youhodler is a platform that allows you to buy, sell, and store cryptocurrencies. You can also use Youhodler to take out loans in fiat currencies using your cryptocurrency as collateral.
To buy or sell cryptocurrencies on Youhodler, you will need to create an account and deposit funds into your account. Once you have deposited funds, you can then buy or sell cryptocurrencies using the platform.
To take out a loan on Youhodler, you will need to first deposit cryptocurrency into your account as collateral. Once you have deposited collateral, you can then take out a loan in fiat currency. The interest rate on the loan will depend on the amount of collateral you have deposited and the length of the loan term.
Is Youhodler Legit?
Youhodler is a European based cryptocurrency platform that allows users to buy, hold, and convert between various digital assets. The company has been operational since early 2018 and has built up a strong user base in the intervening years. Youhodler is one of the few exchanges that offer support for both crypto-to-fiat and fiat-to-crypto conversions. This flexibility makes it an attractive option for those looking to invest in cryptocurrencies.
The company has a strong focus on security, with 2FA and email confirmation required for all withdrawals. Youhodler also offers a number of unique features such as its Turbocharge feature which allows users to borrow funds against their digital assets for margin trading. Overall, Youhodler is a legitimate and well-established cryptocurrency platform that offers a great deal of flexibility to its users.
Youhodler Pros and Cons
If you're thinking about using Youhodler to buy, sell, or trade cryptocurrency, you may be wondering if it's legitimate. In this Youhodler review, we'll take a look at the company's history, features, fees, and more to help you decide if it's the right platform for you.
Youhodler was founded in 2017 by two entrepreneurs who were looking for a way to make cryptocurrency more accessible to everyone. The company is based in Malta and has offices in Russia and the United Kingdom. Youhodler is registered with the Financial Conduct Authority (FCA) in the UK and is a member of the Self-Regulatory Organisation for Cryptocurrency Exchanges (SRO).
One of the things that makes Youhodler unique is that it offers both traditional fiat-to-crypto and crypto-to-fiat pairs. This means that you can use your local currency to buy cryptocurrency, or you can use cryptocurrency to buy goods and services in your local currency. Youhodler also offers crypto-backed loans, which allows you to borrow money against your cryptocurrency holdings.
The fees associated with using Youhodler are relatively low compared to other exchanges. For example, there's a 0.5% fee for buying or selling Bitcoin with a credit or debit card. There are also no Fees for deposits or withdrawals made via SEPA or wire transfer (within Europe), though there may be fees charged by your bank.
Conclusion
All in all, Youhodler is a reliable and legitimate crypto-backed lending platform that offers its users a number of advantages. The most noteworthy advantages include the ability to hold onto your crypto while still earning interest on it, the ability to use your crypto as collateral to secure a loan in fiat currency, and the low fees charged by the platform. If you are looking for a way to earn some extra income from your cryptocurrency holdings, then Youhodler is definitely worth considering.