While the new year is still a couple of weeks away, we just couldn’t wait to bring something “new” to our loyal clientele. Just as the new year is a new and improved model of the previous year, we decided to introduce a new and improved model of something already beloved by many on our platform. The instant crypto loan that made YouHodler famous is one of our tried and true features and while there was nothing wrong with the old model, we decided to make it better with a few revamped innovations making it cleaner, more intuitive, and more efficient than ever.
Up until now, clients could only use cryptocurrency coins and tokens as collateral for an instant crypto loan. Stablecoins however, were excluded from that category…until now. That’s right. Now, stablecoin HODLers can keep their stablecoins, use them as collateral and get a loan in a variety of cryptocurrency or fiat options on our platform. This allows clients to manage risk much more efficiently.
Since the price of stablecoins is stable–as the name suggests–clients no longer have to worry about the volatility of the market forcing their open loans to close due to Price Down Limit (PDL). In addition to the countless risk management opportunities, a stablecoin-backed loan allows, clients, can also get creative with this new instant crypto loan and use it with decentralized finance (DeFi) platforms.
To give you an example of how you can use a crypto-backed loan with various DeFi protocols, simply follow these instructions:
Step 1: Use stablecoins as collateral for an instant crypto loan. (e.g. use USDT to borrow cheap LINK).
Step 2: Take the newly acquired crypto from the loan and stake it on a DeFi platform (e.g. take the LINK and stake it on Pancakeswap, Sushiswap, etc).
Step 3: Use the profits from DeFi staking to cover your YHDL fees and keep the rest as profit.
While we used LINK as an example here, YouHodler clients can use our instant crypto loans with any crypto on our platform, using them on other platforms to farm or earn income from various DeFi pools. The number of coins you can choose for our loans is growing each month, so the opportunities are increasing for everyone.
Yes, our classic crypto loans are getting a facelift but we also kept a few of the best features. Clients will still enjoy some of the best crypto loan rates on the market and our industry-leading loan to value ratio (LTV) of 90%. In addition, YouHodler is a flexible platform and we accept custom loan plans on request. Just send a message to our 24/7 customer support team to speak to a real client relations officer to help you out.
We hope you enjoy our “fresh look” classic loans. Give it a try today and explore all the new ways to activate your cryptocurrency.