Crypto Loans 2.0: YouHodler’s Flagship Features Gets a Facelift

Sep 5, 2022
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YouHodler’s first-ever feature, crypto-backed loans, has been a flagship service since we first launched in 2018. Four years later, it remains one of our most popular features, allowing clients to use their crypto in increasingly creative ways without having to sell it. A lot has changed in four years though which is why we are happy to announce Crypto Loans 2.0.

This latest facelift brings increased flexibility, usability, and efficiency to YouHodler’s lending operations. It’s also getting an attractive new design makeover. Let’s get into the specifics. 

What’s different about YouHodler's new crypto loans?

At first glance, the changes may look subtle but we introduced several innovations to our crypto loans that clients will enjoy. For example, the new updates include:

  • Flexible loan periods: There is a new minimum and maximum period for loan terms  (1 day to 364 days). Loans are no longer issued for a set number of days.
  • Stable fee rates:  Loan fees no longer depend on the loan period. The fee rate is the same every day from the day the loan is opened until it is closed. 
  • New loan fee calculation: The loan fee is now calculated daily instead of before the loan. 
  • Lower daily fee rate: The daily fee rate on loans is now only 0.055%
  • Flexible loan repayment options: Clients can now pay back the loan every day or postpone it for later. 
  • New “Increase LTV” Mechanism: When increasing the loan-to-value ratio (LTV), the commission comes from the new loan amount received. Not from the initial collateral. 
  • New-look interface: We’ve updated the loan interface for a better user experience and overall look. See the examples below. 

How does a crypto loan work?

A crypto loan works as follows. Clients first decide which cryptocurrency they want to use as collateral. YouHodler has over 50 options to choose from. You then deposit that crypto to your YouHodler wallet and follow the easy instructions to open a loan. 

Then, you’ll see the cash, stablecoins, or cryptocurrency from the loan in your wallet. Now is a great time to use a crypto loan. Many people’s portfolios are in the red, meaning if they sold, they would sell at a loss. But you don’t have to sell. Instead, use your crypto as collateral for a cash loan.

Use the loan to buy more crypto during the dip, invest in other industries or use it for living expenses. Whatever you decide is up to you but just realize your crypto has potential besides simple buying and selling. 

So head to YouHodler today and give our new crypto loans a try.

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