YouHodler 2019: A Year in Review
Happy holidays from everyone at YouHodler! It’s truly been an amazing year and we are thrilled for the opportunity to work with our clients every day. You’ve shown us your resilience, brilliance, and creativity over the past twelve months and YouHodler wouldn’t be here without you. So from the bottom of our hearts, thank you for your continued support and here’s to another great year for us all!
The days leading up to New Year’s Eve are often ones of reflection. It’s a time to think back on all that’s been accomplished in the past twelve months and also establish how to improve on the twelve upcoming. Just like you, we’re having that same discussion here at YouHodler and we’d love to share our progress with the community.
What is YouHodler at the end of 2019?
2019 has been a year of evolution for our young organization. In just twelve months, we went from a small, one-dimensional lending platform to an ever growing ecosystem featuring a range of crypto-fiat financial services.
We are proud to say that over the past year, YouHodler has become one of the most developed crypto-fiat platforms featuring:
- All major cryptocurrencies integrated (with more blockchains regularly included)
- All major stablecoins integrated
- All fiat payment systems integrated (bank wires, credit cards, debit cards)
- Deep integration with a number of leading crypto exchanges. This allows us to support all types of crypto conversions directly on YouHodler.
- The highest loan to value ratio on the market (90%)
- The most complex loan management system with features such as Increase LTV, Extend Price Down Limit (margin call), Close Now, customizable loan terms and more.
- The highest yielding savings accounts (interest rates up to 12%).
- Desktop and mobile versions for iOS and Android
We also want to take this opportunity to mention our incredibly strong engineering and development team. Without them, none of the aforementioned features would have ever been possible. We truly believe this team to be YouHodler’s greatest competitive advantage and know they are capable of achieving new highs in this industry and beyond.
2019 was also a great year for forming bonds with active community members like the Blockchain Association and the Swiss Crypto Valley Association. Both of them have helped YouHodler become a transparent and reputable company in this industry and we look forward to working with them in 2020 to make a further impact in finance technology. Now, let's take a month-by-month look at this past years top highlights for youHodler
January 2019: Defining YouHodler’s role in the crypto lending industry
Early in the year, we made a point to define YouHodler’s place in the crypto lending industry. In this article from YouHodler CEO Ilya Volkov, he discusses how many competing crypto lending platforms make the mistake of comparing themselves with traditional banks and even going so far as saying they will replace them. That makes for a great headline but in reality, it’s not possible or even that helpful for society. YouHodler, on the other hand, does not plan to compete with traditional banks. Instead, the goal is to improve certain sections of the industry in which traditional banks may be lacking.
This is why we’ve implemented all fiat payment tools to the platform such as EUR and USD bank wires, credit card pay-ins and pay-outs etc. In 2019, we’ve really rounded out our platform to become a true, crypto-fat FinTech platform that does not alienate crypto users, or traditional finance. We are working to bridge the gap between both worlds whereas many other crypto companies are trying to start an unrealistic revolution.
February 2019: crypto backed loans help hodlers and miners in the bear market
The early part of 2019 was engulfed in a stagnant and bearish market. Often overshadowed by traders and HODLers, crypto-miners took a hit this year and are still a vital part of the crypto ecosystem. YouHodler discovered several use cases to help miners such as:
- Keeping their mining business afloat without selling any crypto
- Easy way to get loans aside from banks
- Miners can keep HODLing crypto and profit from the increase in value
- Miners can minimize risk with a loan (keep the cash loan if the crypto drops dramatically or if the price of crypto grows, use the cash loan to leverage your assets even further).
March 2019: Financial Commission COO talks resolution, regulation, and reputation in crypto
Over the year, you’ve heard us say “YouHodler is an approved member of the Blockchain Association” many times. That sure sounds nice on paper but what does it really mean? What is the Blockchain Association and more importantly, why should you care? In March, we sat down with the Financial Commission COO Nikolai Isayev for a brief interview to discuss his relationship with YouHodler and his company's role in the future of the crypto industry.
April 2019: YouHodler introduces “industry best” 90% loan to value ratio (LTV)
When the “Crypto Spring” of April 2019 hit and prices were on the rise, YouHodler wanted to celebrate with a special offer for our loyal clients. The 90% LTV promotion was born then and as a result, received an incredible reception to this new feature. So good that we decided to make it a permanent fixture of the platform. We are now proud to say that 90% LTV is by far the highest LTV one will find on the market.
May 2019: Crypto lending as a trading tool takes off
All HODLers benefited from the May bull run but some of our more creative clients found new ways to maximize their earnings. After introducing our high LTV (90%) in April, we noticed a large number of clients using it to margin trade and leverage on the crypto market. This would be a vital event that would eventually serve as inspiration for some of the platform’s most innovative features to come.
June 2019: Increase LTV of your crypto loan and get more cash
At any moment, the crypto market can shoot up. But what if this happens and your assets are locked as collateral on a crypto loan? That’s why YouHodler introduced an LTV increase feature in June 2019. This allows users to get more cash and maximize your profits without having to close your loan.
For example, you can use additional cash to invest in altcoins or buy more of the same crypto and HODL, while the first loan keeps working for you.
July 2019: Turbo Loans change how to earn crypto forever
After recognizing a unique pattern with clients taking a “chain of loans” to multiply their assets, YouHodler built a new feature to automate the process on the platform. The “Turbo Loan” feature lets users customize their chain of loans in one click, while also lowering interest fees, eliminating fees on crypto purchases and creating a better way to earn crypto.
On the feature, YouHodler CEO Ilya Volkov mentions that
“following crypto-enthusiasts behavior, we’ve created a new, innovative tool. Turbo Loans are a faster, cheaper alternative to crypto trading. With Bitcoin and altcoin prices changing up to 10% daily, Turbo Loans could be a great tool to multiply your portfolio and earn crypto.”
August 2019: YouHodler releases a mobile app for iOS and Android and stablecoin savings accounts
In August, YouHodler released the first version of it’s mobile app for iOS and Android devices. What initially started out as a simple mobile wallet has since blossomed into a full-service application for all YouHodler financial services. Check it out today if you haven’t done so already.
August was also the beginning of our first savings account (USDT) on YouHodler where we introduced an industry best 12% APR on USDT deposits.
September 2019: YouHodler establishes legal entity in Switzerland, BTC savings account and more trading features.
After months of research, interviews and internal discussion, YouHodler announced in September its move to the Canton of Vaud in the city of Lausanne, Switzerland. We are excited to bring new opportunities and ideas across the realms of finance, technology, and blockchain to the region. The move reflects YouHodler’s appreciation for Switzerland's supreme blockchain community, national infrastructure and government support for innovative businesses and new industries.
YouHodler will be one of many companies joining the Crypto Valley Association’s Western Chapter in Lausanne. The Association is an independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem.
Now that registration is complete, the legal roadmap for YouHodler, includes:
- Affiliation to the Self Regulatory Organisation (SRO) in order to comply with all anti-money laundering (AML) requirements;
- Further development of the legal structure in order with the Cantonal Department of Economic Promotion and Trade requirements;
- Application for a FINMA FinTech license
YouHodler continued the great news in September with the addition of a Bitcoin (BTC) savings account with 7.2% APR and more trading features such as Take Profit.
October 2019: YouHodler becomes the first platform with BTC loans backed by altcoins
In October, YouHoder became the first platform to offer BTC loans backed by altcoins. Bitcoin lending is for the active holders that want to get additional BTC in their portfolio and benefit from its growth without having to sell any altcoins. Altcoins are not so stable anymore but that’s no reason to sell them. Hedge your altcoins on YouHodler with a BTC loan and benefit from the growth of Bitcoin.
November 2019: Paxos, True USD, USD Coin, and Binance Coin Savings Accounts Added
Stablecoins Paxos (PAX) True USD (TUSD) and USD Coin were added to the platform based on client demand. Users can earn 12% APR with these stablecoin savings accounts. Also added as a collateral option and savings account is Binance Coin (BNB) with up to 4.2% APR.
December 2019: Multi HODL™ is here
You could say Multi HODL™ is the embodiment of YouHodler’s evolution in 2019. It’s fresh, innovative and above all, a helpful tool for HODLers and traders to manage their risk on the market with the ultimate goal of multiplying their crypto portfolio.
“This strategy consists of ensuring 80% of your capital is invested in safe, risk-free assets. Meanwhile, the other 20% of the remaining capital is used for limited risk, but potentially highly profitable investments. On YouHodler, we managed to replicate the Barbell Strategy by combining our Stablecoin Savings Accounts with our newly introduced feature.”
We believe this feature will help users unlock the value of their crypto assets in a new creative way without having to suffer from massive risks.
If 2019 was the year of passive HODLing, then YouHodler thinks 2020 will be the year for active HODLers to take control with Multi HODL™ at their side.