Platform Update: YouHodler reduces conversion fees and Multi HODL fees
YouHodler recently completed a platform-wide update that reduces fees and commission on two features. Now, clients can enjoy cheaper conversion rates for all crypto-fiat and fiat-crypto conversions in addition to the complete removal of the origination fee on Multi HODL.
Enjoy reduced fees on conversions
As for today, YouHodler has officially introduced market pricing rates. That means every conversion is executed using the most accurate market rate possible. Hence, anyone who wants to convert crypto to fiat or fiat to crypto (e.g. BTC to GBP, EUR, USD, or CHF) will now enjoy reduced fees across the board.
No, there is no need to withdraw your crypto from YouHodler to another exchange to convert your funds. You can find the same rates (if not better) right here on YouHodler. This saves you both time in sending funds and also transaction fees as well (e.g. gas and blockchain mining fees).
Say “goodbye” to the Multi HODL origination fee
Another bit of great news for the “anti-fee” people out there comes via our Multi HODL tool. We’ve decided it was time to completely eliminate the origination fee on Multi HODL. Now, there is no fee when opening a Multi HODL deal. The only fees that remain are the profit share fee (which we also reduced significantly) and the small hourly fee (the payment for using borrowed money to multiply your crypto).
In addition to that, Multi HODL has been upgraded with better charts and faster execution times, making the experience more efficient (and friendly for your wallet).
To understand the mechanics behind the profit share fee, please read the following:
Profit share fee: The fee based on the total amount (client funds + borrowed amount). Only charged on profitable Multi HODL deals.
Note: The Profit Share Fee will never exceed the amount of your profit. Hence, if your current profit is less than the calculated Profit Share Fee, then we will only charge you the fee based on the equal amount of your current profit.
Fee formula for “Up” Multi HODL deals:
The profit share fee amount = (total amount * initial price * profit share fee / 2) + (total amount * closing price * profit share fee / 2)
Fee formula for “Down” Multi HODL deals
The profit share fee amount = (total amount / initial price * profit share fee / 2) + (total amount / closing price * profit share fee / 2)
To clearly understand, here is an example of what the profit share fee looks like on an “Up” Multi HODL deal using BTC/USDT pair
- Pair: BTC/USDT
- Initial price: 58,000 USDT
- Closing (or current) price: 59,000 USDT
- Starting amount: 0.01 BTC
- Multiplier: x 5
- Borrowed amount: 0.04 BTC or 2320 USDT (0.04 * current rate 58000)
- Total amount: 0.05 BTC (starting amount + borrowed amount)
- Profit Share Fee = 0.0045 (0.45%)
Profit Share Fee amount calculation:
([total amount 0.05 BTC] * [initial price 58000] * [profit share fee 0.0045] / 2) + ([total amount 0.05 BTC] * [closing price 59000] * [profit share fee 0.0045] / 2) = 13.16 USDT
Profit Share Fee amount = 13.16 USDT
We hope you enjoy these new reduced fees as they help you explore new waves to HODL and profit. So what are you waiting for? Head to your YouHodler app right now and try our conversion and Multi HODL features today with these new enhanced features.
Lower fees and more chances to win a brand new Tesla
Hey everyone! Don’t forget about our ongoing promotion. You still have plenty of time to take part in our giveaway of a brand new Tesla Model Y in deep blue finish. All it takes is $1,000 and some good old-fashioned ambition. With Multi HODL fees lowered across the board, this should make it worth your while to put $1,000 into a Multi HODL Up or Down position. Not only do you stand a better chance to profit, but you’ll also receive one ticket for the giveaway.
Time is on your side. You still have a few weeks to cement your spot in our leader board. So happy HODLing and good luck!