In market terminology, the third quarter of 2022 was not impressive for bulls. Global markets met decline yet again as inflation peaked at multi-decade highs. The geopolitical situation in Europe continued to escalate and the Federal Reserve pumped up the interest rates even more than in the previous quarter.
We did see one or two hopeful bear market rallies but they were not enough to “flip the script.” Thankfully, we are not here to talk about the bearish market today.
While that was a headline of Q3, we prefer to focus on more positive events at YouHodler - of which there were many. This was a successful quarter for us featuring:
So for those who missed all these announcements, look at the article below for a full Q3 2022 review.
In YouHodler’s constant pursuit of combining traditional finance services with cryptocurrency, a new feature was born in July 2022. Dual Assets is a dual currency investment feature that takes the high yield generation strategies from DeFi but with the simplistic twist of traditional FinTech platforms.
The result is a user-friendly way to play with the market using dual currency trading techniques
As the name suggests, Dual Assets link two assets -- one crypto and one stablecoin. Depending on the market, and the trader’s prediction, the trader can earn more cryptocurrency or more stablecoins.
Suggested reading: Dual Assets Instructions for Use
One aforementioned improvement was adding dynamic interest rates on Dual Assets. Unlike other yield accounts which have a fixed interest rate, Dual Asset Dynamic Interest rates create a more interactive experience for our clients. Giving them clear objectives and control over their earnings.
Essentially, this encourages more active HODLers to boost their interest rates with minimal risk.
On July 29th, 2022, YouHodler officially announced its registration and approval by the Organismo Agenti e Mediatori (OAM) in Italy as a cryptocurrency service provider. This valuable registration allows YouHodler to offer its growing list of services to Italian citizens while maintaining full compliance with local regulations.
About the news, YouHodler legal counsel Julian Grech said
“We are extremely happy with this registration. It is yet another step in YouHodler’s strategy to extend its presence within Europe. More local licenses and registrations are expected shortly.”
YouHodler has plans to open a physical office space in Milan and recruit local teammates.
YouHodler wanted to join the mainstream adoption madness of Q3. Hence, we decided to roll out support for Apple Pay. This new feature allows clients to easily buy cryptocurrency, repay loans and pay for select features on the platform using a card stored on their Apple Wallet application.
We heard the requests to make buying crypto easier than ever before and now it’s a reality. To learn how to buy crypto with Apple Pay, simply click the link below.
Suggested Reading: How to buy crypto with Apple Pay
To this day, Multi HODL and Crypto-Backed Loans are two frequently used legacy features. To align these features with industry trends, they both got large updates in Q3.
To make trading on Multi HODL more efficient for crypto traders, YouHodler developers created a brand new trading engine for the feature. This modification increased the rate of flows by up to 20x.
Additional updates included:
To satisfy an evolving community of crypto lenders, YouHodler made a few key updates to its flagship feature. The newest facelift introduced more flexibility for clients while making crypto loans more user-friendly and efficient.
Additional updates included:
As a way to promote our new Dual Asset feature -- and for a fun community bonding experience -- we created the Dual Profit promotion in Q3. This promotion let clients stake crypto, and earn “tickets” which gave them a chance to win a $10,000 prize fund.
The 1st place winner - Tom from Belgium - chose to accept his prize in cryptocurrency ($5,000 worth of ETH). All five winners chose to accept their prices in either cryptocurrency or stablecoins.
Thousands of participants joined the fun, each with a unique account number. For every $300 that was staked in the Dual Asset feature, the participant received one ticket.
Overall it was a fun event we look forward to doing again soon!
The growing and active YouHodler affiliate community are a patient one. They’ve waited some time for a revenue share model that works on a commission basis. In Q3, we made that dream a reality.
The new YouHodler Affiliate RevShare model is fully funded by fees from our two top-performing products (Dual Asset and Multi HODL). The change means YouHodler pays 20% of its revenue to Affiliate Partners.
This is different from the cost-per-action (CPA) model we used previously. If you’re interested to learn more about this enticing offer, or wish to join our affiliate program, CLICK HERE to learn more.
YouHodler recently added Italian, French, and German languages to the platform. Our international presence is growing.
In Q3, we saved one of the most exciting announcements for last. Recently, YouHodler became the Official Crypto Partner of the Italian football club, Torino. F.C.
This was both a strategic goal of ours and a personal one as well.
As fervent football fans, YouHodler always dreamed of football sponsorship. Finally, thanks to our advertising options opened up with our Italian crypto license, we could make that dream come true.
Commenting on the deal, YouHodler CEO Ilya Volkov stated:
“It’s been a long-time dream of ours to participate in the beautiful game of football in some capacity. Now that we obtained our Italian Crypto License, we are beyond thrilled to work side-by-side with one of the most historic clubs in Italy’s storied football history.
YouHodler values traditions and relationships. Torino Football Club is one of the oldest Italian clubs built on a century of tradition and a long-lasting Italian-Swiss relationship. Also, the city of Torino is just around the corner from our home base in Switzerland. That makes us very close to the club, not just physically, but mentally and spiritually as well.
We relate deeply with the bull found on the Torino FC Logo. YouHodler, along with the club, embodies the hard-working, strong, and ambitious attributes that the Club represents. Together, we will reach new heights for the club, for YouHodler, and for all the fans as well.”
As we start the final quarter of 2022, the market still faces numerous challenges such as high inflation, Federal Reserve rate hikes, and continued geopolitical instability. However, all things must pass. We must always remember the market is cyclical and moves in waves.
Long-term investing in cryptocurrency and traditional stock markets is still very attractive. It’s likely that many of the aforementioned problems are close to peaking, or peaked already. There are also several technical indicators pointing to pessimistic market conditions but showing signs of a potential turnaround within the year.
As always, YouHodler is here for you as we continue to remain patient and stick to a long-term HODLing strategy. We understand the risks everyone is facing in the current climate and we are committed to helping you navigate it with our suite of financial services.
Our entire team is here to help you. If you have any questions about what we can do for you, don’t hesitate to reach out. Thanks for reading this quarterly update and see you again in three months!