- YouHodler Review 2021 — Earn Interest on Your Cryptos
Launched in 2019, YouHodler is an EU and Swiss-based cryptocurrency platform that allows you to earn better interest rate as well as borrow funds against your crypto deposits.
They allow borrowers to quickly get cheap loans in fiat money (USD, EUR, CHF, GBP) by using cryptocurrency as collateral.
On the other hand, lenders earn guaranteed returns immediately when they deposit funds on their interest-bearing accounts.
YouHodler also supports crypto/fiat and crypto/crypto conversions.
This means that even if you’re totally new to crypto, you can take advantage of this high-yield saving account by depositing your fiat currency.
What’s more, once you dig deeper, you will find more earning opportunities such as
- Crypto Loans: 90% loan-to-value, TOP 12 coins as collateral
Earn Interest: Get 12% in stablecoins, up to 8% in other crypto
Multi HODL: Boost your savings and keep your daily interest
Turbocharge: Borrow to get more crypto
The team behind YouHodler
A team is the driving force behind any company, so it’s always good to know who’s working behind the scenes.
Here are the key persons of YouHodler. Seeing their faces and knowing their background stories make me feel more safe using them.
Ilya Volkov is the CEO and co-founder YouHodler who has more than 15 years of experience in FinTech industry.
I did a bit of digging around and found that YouHodler is actually owned by a company called Naumard Limited.
It’s registered in the Republic of Cyprus in 2016 with two employees. It took them 1+ year of development before launching it to public.
YouHodler is a fairly new and young company that has grown very rapidly, with two main offices in Cyprus and Switzerland.
Unsurprisingly, it’s a strong competitor.
So, what actually set YouHodler apart and above other competitors in the crypto financial market.
What makes YouHodler Unique and Different from Others?
As its name suggests, YouHodler is a multifaceted crypto solution for YOU as a HODLer.
As we know, just like gold, Bitcoin does not pay you any return in itself.
Wouldn’t it be great if you can get guaranteed returns by just holding your cryptocurrency?
That’s where YouHodler comes in.
YouHodler makes it easy for crypto investors and HODLers to grow their crypto portfolio and generate some passive income in a number of ways.
When it comes to detail, YouHodler offers one of the highest interest-earning accounts for stablecoins and bitcoin (3–12%), flexible investment options and get paid directly into your wallet every week.
On top of that, YouHodler doesn’t offer native tokens like Celsius Network and Nexo. This means you don’t have to hold or stake their platform based tokens in order to use YouHodler’s services and earn higher interest rates.
And most importantly, YouHodler offers an innovative way to maximize your investment returns with unique tools such as Turbocharge and MultiHodl. With MultiHODL, you’re able to use funds from a savings account as collateral for other lending products and boost your savings through margin trading.
How to Earn Crypto with YouHodler
If you’re committed to HODLing, then depositing your cryptocurrency into YouHodler Savings Account is a no-brainer way to build a strong stream of passive income.
I’ll show you how to earn high interest by keeping your crypto funds with YouHodler. It’s pretty simple and straightforward.
Are you ready to earn interest by lending Bitcoin with no extra effort?
Step 1: Sign up for a free YouHodler Account
Head over to YouHodler’s official site and click “Earn Crypto” button to create an account with your email ID.
But before you can start using YouHodler, they’ll ask you to verify your identity in order to stay compliance with KYC/AML.
To do that, you’ll need to take a selfie with your ID (passport, national ID or driving license) and fill in required valid personal information such as surname, first name, date of birth, address and nationality.
Now, just wait for YouHodler team to verify all uploaded info.
Once you get the green light, you can start using all YouHodler’s services.
Step 2: Deposit crypto into your YouHodler Savings account
Simply deposit your Bitcoin, and other cryptocurrencies (minimum deposit of $100) and start earning iterest with YouHodler.
The amount of interest you can earn varies depends on the currency you deposited and amount you wish to lend.
Here are the Savings Account interest rates (per year):
- USDT, USDC, PAX, TUSD, DAI, HUSD — at 12% APY;
PAXG — at 8.2% APY;
LINK — at 6.2% APY;
BTC — at 4.8% APY;
ETH, XRP, XLM — at 4.5% APY;
HT, BNB — at 3% APY.
If you don’t have any of the coins, you can convert it from other crypto or fiat money.
Step 3: Earn interest on crypto
Once funds are deposited into your account, you will gain access to the interest-earning feature automatically. To check your earnings on a daily basis, go to “Earned” page.
That’s it. Just let your cryptocurrencies sit on your YouHodler account, do nothing and you’ll get paid weekly in stablecoins and crypto.
Here’s the interesting part: YouHodler Savings Account offers compound interest which is added every week.
At the end of each week, instead of withdrawing your weekly interest earned, you can keep it there to accumulate even more profit. This way, not only your principal money earn interest, your interest earns interest too!
However, do note that:
- If you withdraw the funds before the end of weekly period, you will not get any interest for that particular week.
While you can deposit additional crypto to your YouHodler account anytime of the week, it will only earn crypto interest starting from the following week.
How to Earn Interest with YouHodler Savings Account Without Owning Crypto
Want to earn better interest than a bank but don’t have any Bitcoin or crypto?
You can use your chosen fiat currency to earn interest on YouHodler in 3 simple steps:
- Deposit your fiat currency (EUR, USD or GBP) into your YouHodler wallet via debit/credits card or a bank wire transfer.
You send the payment and wait. It can take up to 24 hours to process funds via wire deposits while funds will be received almost instantly via card payment.
You convert your fiat into any any cryptocurrency available at YouHodler and start earning interest on it!
With that in mind, YouHodler provides 4 main services that you can take advantage of:
Let’s have a look at the most commonly-used features, one by one.
When it comes to generating healthy returns on YouHodler, this will be your main passive income stream.
This is quite similar to earning interest from traditional financial accounts like savings accounts.
Instead of depositing local currencies like USD, EUR, AUD, you deposit crypto.
When your funds reach your YouHodler account, it’ll automatically earning interest and you can expect to get paid on a weekly basis.
In addition to that, you can keep all your crypto interest on your account and earn compound interest for as long as you like.
If you’re committed to holding crypto for the long term, but in need of urgent cash, YouHodler allows you to borrow fiat (EUR, USD, CHF and GBP) using your crypto as collateral.
This way, you can get instant access to cash without having to sell your favorite crypto assets.
You’ll get your crypto back once your pay off the loan. So if crypto prices go up, you can be sure that you won’t miss out on any future bull run.
How to get a cash loan with YouHodler
Step 1: Deposit one of the supported collateral types into your YouHodler wallet. The top 20 coins that you can use as collateral for crypto loans are:
Step 2: Apply for a cash loan
Unlike most other crypto loan sites, YouHodler is not a P2P platforms. With YouHodler Crypto Loans, you don’t have to find a dealer.
Instead, you’ll get instant from YouHodler’s own fiat funds. And it only takes a few seconds to get your loan approved.
Step 3: Withdraw your funds
That’s how simple it is. You can now withdraw you funds from YouHodler using one of these 3 options:
- Bank wire withdrawal via SEPA and SWIFT. Available worldwide.
Credit card withdrawal to your MasterCard or VISA.
Crypto withdrawal: buy any crypto or stablecoins using their integrated crypto exchange.
Step 4: Get your crypto collateral back anytime
Think of it like a temporary sale of your crypto, you are the seller and YouHodler is the buyer.
You can repurchase your crypto from YouHodler by paying off your loan using a credit card, stablecoins or bank account.
MultiHODL is perfect for those who want to increase their risk for a greater reward.
MultiHODL is an innovative tool based on the Barbell Strategy that helps you to multiply your funds and maximize potential returns.
So, what does MultiHODL work?
With MultiHODL, you’ll keep 80% of your crypto deposits in a safe crypto saving account with guaranteed fixed-income. While the other 20% will be allocated to speculative bets and high-reward investments that comes with limited-risk.
Using this strategy allows you to enjoy the best of both worlds.
- Have a large portion of your capital in stable and profitable savings accounts and at the same time,
Use a tiny portion to expose yourself to limited investment risks with the highest-rewards.
How to use MultiHODL
This feature is available for all stablecoins and cryptocurrencies on YouHodler.
First, you’ll need choose the percentage of your total savings that you want to put into MultiHODL.
Step 2: Set profit and risk levels
Next, select your take profit amount and level of risk.
Step 3. Get your crypto back anytime
That’s it. You can now monitor the performance of your investment, close the position whenever you want to realize a profit or get your crypto back.
Else, the position will be closed automatically after 30 days or in case price falls below your loss level.
All in all, MutliHODL is a great way to diversify your portfolio. You will never loss more than what you have set and you can boost your savings with massive upside potential.
Turbocharge is another unique tool that allows you to get a chain of loans.
If you can predict a bull run, you might want to accumulate as much as possible of the crypto to gain maximum profits.
Turbocharge can help.
With this feature, you can use the borrowed fiat currency to buy additional crypto with zero commission. You can then use the purchased crypto as collateral for other loans in the chain.
Step 1: Send crypto to your YouHodler wallet
To get a Turbocharged loan, you’ll need to transfer some crypto to your YouHodler and use it as for a first loan.
Step 2: Calculate turbocharged amount
The borrowed funds from your first loan will be used automatically to purchase more crypto and get another loan. This process is repeated 3–10 times, as many as you like. This is how the the chain begins…
Step 3: Set your Take Profit price
With crypto rapid price volatility, things can move way too fast that even the most experienced traders may find difficult to take profits during a bull run.
In order to maximize your profits, you can set your desired Take Profit price.
So when your coin hits this Take Profit price, YouHodler will automatically closes the position.
YouHodler will use the collateral to pay fees and you get the rest of the crypto.
Using this method, you can duplicate your collateral and profit up to 6.5 times of your initial collateral value in case of further price growth.
YouHodler is available to customers worldwide except the the United States, China and Bangladesh.
Is YouHodler Legit?
Let’s look at the facts:
- YouHodler has a solid team of experts with 20 Years of Experience in FinTech and Education Projects.
YouHodler is a member of the BlockChain Association and the Financial Commission. This independent Association will ensure all YouHodler users have an outlet for dispute resolution outside of the YouHodler platform. If you think YouHodler fails to meet your expectations, feel free to submit a complaint and you’ll get a quick, unbiased and non-binding resolution.
YouHodler Trustpilot review is Excellent. Even with this small amount of reviews, you can see that most customers are happy with YouHodler’s services. Expect to see more genuine reviews from users with the passing of time.
When it comes to security, here are a few important things that you need to know:
- YouHodler works with Ledger Vault to secure your assets.
With Ledger Vault’s advanced custody and security options, you can be sure your crypto assets are safe with them. Plus, it’s covered by $150 million pooled crime insurance.
The insurance covers different risks, including risks of employee theft caused by collusion and third-party theft of private keys/master seed in the event of a physical breach of hardware security.
YouHodler has an insurance reserve of $1 million USD that will cover any loss of client funds.
While YouHodler is safe to use, it’s your responsibility to practice basic crypto security to protect yourself against human errors and potential attacks.
- User friendly and well integrated for beginners.
Large selection of cryptocurrencies. Earn up to 12% annual interest on Bitcoin, stablecoins and major cryptocurrencies.
Get weekly crypto compound interest payments
Safe and secure. All your crypto assets are safe guarded with Ledger Vault digital asset management system.
Quick and instant withdrawal.
Mobile app is available for both Google Play and App Store, making it easier to manage your crypto investment on the go
No fees for crypto deposits or withdrawals.
No credit checks — Putting crypto as collateral to get a loan is fast and easy.
High Loan to Value ratio (90% LTV)
Instant credit card and bank withdrawals
All funds are protected by Ledger Vault digital asset management system
Flexible repayment options
The main disadvantage of using centralized platforms like YouHodler is that you don’t own the private key to your crypto wallet.
It’s worth mentioning that YouHodler has reportedly exposed 86 million sensitive customer data including credit card information and bank account details because it forgot to protect its server with a password. This happened in July 2019.
Ever since YouHodler has implemented two-factor authentication and email verification to enhance its security.
In addition, they also work together with Cloudflare and IdentityMind to check the security settings of their systems and prevent any potential leakage in future.
Remember, “not your keys, not your Bitcoin”.
No crypto platform is 100% fool-proof. If your crypto is in the exchange, they are not yours.
Essentially, you have to trust the platform that they will protect your crypto assets.
Regardless of which services you’re using — crypto loans, savings account, MultiHODL or Turbocharge, you’ll have to first transfer your precious crypto to your YouHodler wallet.
In this case, it’s good to know that your crypto funds are stored by Ledger Vault which use the industry-leading and independently-certified security technology.
Based our research, YouHodler is a legit company which provides fast, easy way to borrow, lend and trade your cryptocurrency safely, all in one dashboard.
Holding Bitcoin and cryptocurrency and earning NOTHING is the past.
YouHodler just opens up new opportunity for everyone to save their crypto in interest-bearing accounts.
Even if you need cash, you don’t have to liquidate your valuable crypto assets, use YouHodler Loans to get fast cash with minimal interest rate.
Moreover, you can maximize your returns by using innovative tools like Turbocharge and MultiHODL to multiply your funds and profits.
That’s all for now. As the YouHodler expands its features and services, I’ll be updating this post regularly with the latest info, so keep coming back to discover more.
I hope this YouHodler review helps you to decide whether YouHodler is right for you. If you want to know more about Bitcoin alternatives.
Are you ready to take part in this new financial revolution?
What do you think?
Would you use YouHodler to borrow, lend and trade cryptocurrency? Why or why not?
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P.S: This Bitcoin resource is One of — if not the most — comprehensive resources for learning about Bitcoin with over 20 categories ranging from history to buying BTC, setting up a wallet, technical information, mining, security, and trading. Enjoy
- Date of publication:
- Thu, 04/22/2021 - 13:13
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