YouHodler Month in Review: January 2020
The first month of a new year (and a new decade) is over. Each one of January’s thirty-one days was filled with excitement for the YouHodler team. New ideas were born, strategic partnerships formed and some brilliant lessons were learned over this past month. As anxious as we are to run full speed into February, let’s take a few minutes to review the past few weeks.
The Crypto Carry Trade is born
In an era where zero interest rates (and in some cases negative interest rates) are increasingly common with traditional banks, crypto traders are coming up with creative strategies to yield high returns. The “Crypto Carry Trade” is a trending behavior where traders use low-interest fiat currencies and then invest them in high yield cryptocurrency savings accounts.
The carry trade strategy is not a new concept. Using low-yielding currency to fund a high-yielding investment was successfully used in the traditional markets for years. Today, we see banks in Europe with historically low-interest rates and crypto traders are taking advantage of this with a “crypto carry trade” just as we saw traders do with the traditional carry trade.
Multi HODL ™ is YouHodler’s “Feature of the Month”
Although YouHodler started out as a simple crypto lending service, the platform has since evolved into a multi-faceted financial interface. We have many useful features like traditional crypto-backed loans, Turbo Loans, high-yield savings accounts, crypto/fiat conversions and of course, Multi HODL™.
Multi HODL™ was originally used as a tool to help users boost their interest rates on savings accounts even further but it has evolved at a rate none of us thought was possible. In January, we saw more clients using Multi HODL™ than ever before. As evidenced by this increased volume, clients seem to enjoy setting their own levels of risk and desired profit to benefit from the crypto market movements.
During certain bull runs in January, we saw many clients profit greatly while investing their crypto into MultiHODL™ in order to profit from the market’s rapid growth. It was a great strategy we are sure to see much more of in February and if you haven’t tried it yet, it’s never too late to start.
YouHodler’s mobile office attends Davos 2020
Perhaps the highlight of January for the entire financial industry was the 2020 World Economic Forum (WEF). The entire month of January is a hotspot for Davos, Switzerland, which hosts the WEF and a number of other important conferences and events.
YouHodler was fortunate to attend these core events in Davos where we made countless connections and more importantly, witnessed world leaders accept blockchain technology as a legitimate industry for the first time in history. Click here to read the quick glimpse at our time in Davos seen through the eyes of our traveling YouHodler team.
YouHodler partners with blockchain security company CipherTrace
Lastly, we decided to end January on yet another high note with the announcement of a new partnership with blockchain security company CipherTrace. CipherTrace will use their expertise to increase YouHodler’s compliance standards so that they are in line with the latest advancement of cryptocurrency frameworks and regulation.
YouHodler CEO Ilya Volkov had this to say about the exciting news:
“In the cryptocurrency market, millions of “everyday people” are afflicted due to the hundreds of criminals and their illegal conduct. However, organizations like CipherTrace and several other companies in the crypto-AML industry are helping to clean up these illicit acts. YouHodler stands firmly for transparency and 100% compliance. Together with CipherTrace, we can accomplish this not only with YouHodler, but ideally, help to push this philosophy throughout the entire crypto community and contribute towards crypto mass adoption.”
CipherTrace serves a variety of auditors, regulators and financial institutions worldwide and now, they look forward to strengthening YouHodler and cementing its stance as one of the most trusted and secure FinTech platforms in the industry.
2020 will be the best year yet for YouHodler supporters
We are just getting started this year. January was full of great moments for this company but we have greater goals to accomplish and new obstacles to tackle. We approach each evolutionary step with a “client-first approach” meaning our platform will only get better for our clients each and every month. So stay tuned for more great news from YouHodler and have a happy February!