YouHodler Month in Review: April 2020
There is light at the end of the tunnel. Just as our friends in the Northern Hemisphere begin to see the warm embrace of spring, the global community also sees a hopeful month coming soon in May. April was a month of strategizing, stabilization, and rebuilding for the entire world. For YouHodler, it was an inspiring signal for the strength of our community and the cryptocurrency industry. With major events like Bitcoin halving and the possible reopening of the world next month, there is a lot to look forward to but first, let’s take some time to examine the past thirty days.
The world finds new safe-haven assets in April after stock market collapses in March
If March could be described in one word, surely “chaos” comes to mind. April, on the other hand, was more about creating a plan to recover from the chaos. In March, the stock markets collapsed, leaving everyone to stockpile cash and look for other avenues of safety. Out of this mess came the resurgence of gold and cryptocurrency. YouHodler decided this was the perfect time to introduce a new concept that combined the best of both worlds.
On April 2nd, we announced PAX Gold (PAXG) as a new addition to the platform. PAXG brings the benefits of owning physical gold and combining that with the innovation of the cryptocurrency industry. Now, the process of carrying gold and trading is much more convenient than with the previous “physical” method. With this new digital gold on the YouHodler platform, users can maximize the overall liquidity of the precious metal by connecting gold markets directly to various cryptocurrency markets.
To benefit even more from PAXG holdings, YouHodler savings accounts will help users earn an annual percentage rate (APR) of 8.2%, allowing users to profit and buy more gold or other cryptos to diversify their portfolio. Users can also experiment with PAXG on Multi HODL with the feature’s new “UP” and “DOWN” buttons, which allows them to trade USD against gold right on the platform
April 2020: The month of savings accounts
YouHodler saw a massive increase in savings accounts users during April. We can only imagine during the volatile month of March, people craved some sort of safety and stability for their assets. YouHodler savings accounts, with an industry best 12% APR are a common-sense option for many who want safe, guaranteed, and stable growth. YouHodler responded to this demand in a big way by introducing, PAXG, LINK, XLM, and XRP savings accounts to the platform all within a week.
These new features were a welcome change to the rapid loss we saw in March and it gave our users some time to breathe and think about how to utilize their portfolio next. By the end of April, we started seeing these users embrace savings accounts and Multi HODL features in growing numbers.. Multi HODL is the ideal tool to use in cooperation with savings accounts since it allows uses to keep their funds in savings accounts constantly earning interest but also allowing users to take a portion of those funds to open Multi HODL positions and play with the market movements.
So far this month, some users have increased their portfolio over 80% using Multi HODL while still maintaining their stable savings accounts they know and love. Also, just a reminder. We have an ongoing Multi HODL contest going on right now. Enter for your chance to win a brand new iPhone 11 Pro or Samsung Galaxy S20 Ultra.
Hyperinflation on a global scale
Compared to other recessions and depressions in the past, the amount of money we’re seeing being pumped into the economy is unlike anything seen before. While helping these businesses survive this pandemic seems like a good idea, many analysts believe this hyper spending will result in hyperinflation which will ultimately decrease the living standards for global citizens for years to come. So what are everyday people to do if cash, their most prized possession, suddenly becomes worthless? Cryptocurrency may be the answer.
We’ve already seen the crypto market behave in a far more stable manner than traditional markets during this crisis Hence, citizens can start using crypto to hedge their assets and protect their wealth. Furthermore, cryptocurrency is a borderless currency that can be sent all around the world in seconds for fractions of a dollar in transaction fees. Yes, cryptocurrency can be volatile at times which is why stablecoins backed by gold (PAXG) are gaining popularity in some circles.
These stablecoins have all the benefits of cryptocurrency (convenience, low transaction fees, fast transaction times, transparency, etc) with the added bonus of stability. Stablecoins are also a major component of the Crypto Carry Trade Strategy. A strategy that involves trading fiat for stablecoins and then benefiting from high-yield savings accounts (like 12% APR on YouHodler).
YouHodler talks hyperinflation, stablecoins and economic development with industry experts
To explore the topic of hyperinflation, even more, YouHodler took part in a fully online conference hosted by the Crypto Valley Association. The event featured a crowed of almost 500 people from more than 50 countries to celebrate the first-ever exchange of ideas on the topic of stablecoins via a digital medium. Eight speakers from Binance, Dukascopy Bank, Sygnum, Mt. Pelerin, Maker Foundation, YouHodler, and the Crypto Valley Association presented individual speeches as well as a panel discussion centered around stablecoin use cases, risks, and benefits for the future.
For YouHodler, the highlight of this event was the online networking session, the first of it’s kind in such a format. Ten online “conference” rooms were available for attendees to join and discuss the topic at hand, or anything that came to mind. It was truly an inspiring show of intellect and interest. Despite everyone being locked in their rooms for months, nothing can slow down the power of community and innovation. People are on board with cryptocurrency, perhaps more than ever now that the current financial system is more or less exposed. If there were any doubts about crypto before this event, they were all proven false after the networking sessions ended. The coming years will be strong and thriving for YouHodler and blockchain technology.
YouHodler Savings Accounts + Multi HODL see small upgrades
As part of the new updates for savings accounts and Multi HODL, users can now experience the following:
- Weekly payouts on savings accounts
- Close Now features with zero fees;
- New Multi HODL timing terms (10 days);
- New charts (live chart results start immediately upon the opening of a new Multi HODL deal );
- Decreased origination fee to 1%;
- “Take Profit” editing available on open deals (Take profit: When the price of the invested crypto reaches the Take Profit level, you receive all invested funds and the profit gained during the Multi HODL.
We hope fans of our savings accounts and Multi HODL will enjoy these new features with increased convenience and efficiency. For those that are brand new to YouHodler and Multi HODL, then there is never a better chance to open a position than right now.
YouHodler welcomes Huobi Token (HT) to the family
To finish off the month of April, YouHodler announced the addition of Huobi Token (HT) to the platform. The addition of Huobi Token is yet another crowning achievement for us in our goal to become the premier “one-stop-shop” of the crypto lending industry. Now, YouHodler users can take advantage of the platform with:
- Instant USD, EUR, CHF and GBP loans backed by Huobi Token
- Secure Huobi Token wallets for safe storage on YouHodler
- Huobi token exchange with 12+ cryptocurrencies, 4+ stablecoins, and 4 fiat currencies on YouHodler
- Multiply Huobi token and choose customized risk/profit levels with YouHodler Multi HODL and Turbocharge
- Huobi Token savings accounts (earn 3% APR on HT deposits)
The future is looking bright; are you ready?
The news reads much differently than it did this time last month. What was once a painstaking task of waking up to a bombardment of negative and traumatizing news reports is now much easier to digest. Economies are opening back up, albeit slowly. Stock futures are stabilizing and in some cases, improving. Deaths and newly reported cases of COVID - 19 are all decreasing and an immeasurable weight seems to be finally lifting off the world’s tired shoulders.
While we are still far from being back to “normal,” progress is being made each day and that’s helping us regain our strength. We have a lot to look forward to in May and we hope YouHodler can help everyone take full advantage of it.
Most notably is the upcoming Bitcoin halving event. In past events, Bitcoin halving resulted in a bull run. What will happen this time? Whatever the outcome, YouHodler has the tools to help you profit. With Multi HODL “up” and “down” buttons, you can effectively long or short the market depending on how you think it will react. So whether your bullish or bearish, there is an opportunity for you.
“Opportunity” is the keyword for May. It will come in many shapes and sizes and it’s up to us to seize it. YouHodler has all the tools to help you secure your financial future so don’t hesitate to ask us about your many options. Here’s to a good May and many good months ahead.