YouHodler and its Clients Get Creative With XRP (and Profit!)
As we stated with the results from YouHodler’s Success Story Contest, it was a challenge to just pick one winner since we had so many great entries. That being said, we still want to share some of the best stories from that contest to show how innovative our clients are and how they used YouHodler’s platform to profit. Additionally, we want to share some real XRP use cases from both client and business sides that exemplify Ripple’s true potential.
Diamonds and XRP? She said “yes!”
It’s a myth that there are no real-world use cases for cryptocurrency. Every day, employees are paid in crypto, properties are purchased with crypto and in this case, weddings are planned with crypto. Using a strategically placed loan on YouHodler, Ahmad Luqman was able to multiply his XRP assets and use the extra cash for an engagement ring.
See the full story told on Twitter here:
How to use an XRP backed loan to multiply your assets
Unlike traditional banks or other competitors in the blockchain space, YouHodler’s industry best loan to value ratio of 85% immediately gives users the most value for their crypto. But for those that know how to time the market correctly, that original crypto collateral can easily multiply, leaving the user with more money than they started out with. See this example for instance.
When Ahmad Luqman first deposited his crypto into YouHodler to the user as collateral, the price of XRP was ≈ 0.36 on May 24, 2019. Just a few days later, on May 28, the price of XRP jumped over 16% to ≈ 0.43. This was more than enough to cover YouHodler’s low-interest rate and then put the additional profit in his pocket.
Watch this XRP HODLer Use a “Chain of Loans” to Play the Market
This next example isn’t as heartwarming as the last but shows a prime example of how a chain of loans can multiply one’s crypto portfolio with minimal effort. This innovative client started out with 5,109.78 XRP as collateral, priced at .302 USD at the time of the loan. In exchange for the collateral, the client received 848.73 USD. Instead of seeing this as the end of the loan process, this client decided to use the chain of loans strategy to buy more crypto with his newly acquired USD.
The same day, this client bought more XRP (2,675.79) to use as collateral for a loan of 443.60 USD. By the end of 5, May 2019, the client had received a total of 1,292.42 USD using 7,785,57 XRP as collateral. Choosing the longer loan term of 120 days gave this client plenty of time to wait for market growth, which for him, was a wise choice.
By the time he closed his loan on the 23rd, of June 2019, the price of XRP jumped up to approximately 0.4788 USD leaving him with a value of 3,728.63 USD at the loan’s termination. Total profit equaled 1,168.73 USD which amounts of 75.7% in growth.
While this client chose to do this process manually, Youhodler recently developed Turboloans which automates the “chain of loans” procedure from 3 loans up to 5. When executed correctly, like in this perfect example, it’s incredibly easy to multiply one’s crypto assets with a minimum investment.
Real XRP Use Cases for XRP From YouHodler Clients and Team Members
While these stories showed how a Ripple crypto-backed loan worked in one’s favor, YouHodler’s diverse platform lets its clients use XRP in creative ways without ever having to leave the YouHodler platform. Users can convert XRP to any other crypto on the platform (BTC, BCH, BSV, ETH, LTC, XLM, DASH, REP and other popular coins and tokens, convert to any fiat on the platform (USD, EUR) and also convert Tether (USDT).
By linking a debit or credit card to one’s personal YouHodler account, it’s simple to convert XRP to fiat and withdraw instantly to a bank account. Alternatively, a bank card can be used to buy ripple instantly as well. All these features combined make YouHodler a true “one stop shop” for users to operate in all realms of XRP usage.
From the YouHodler team member’s point of view, there are several instances of XRP uses cases in our daily operations. For one, some YouHodler team members receive their salary in XRP (by request). Since YouHodler is an international platform, we need a quick and affordable way to send transactions across borders and Ripple provides an excellent solution for that. We’ve also been fortunate enough to work with several advertisement firms that accept crypto as payment, more specifically XRP.
A more unique use case YouHodler has discovered for XRP is as an intermediary currency. In some situations, one can actually find a better interest rate when converting Euro to XRP and then XRP to USD. Essentially, all this shows there is more to just HODLing XRP. From both client and team member perspectives, XRP is an essential tool that helps to generate profit and streamline operations.