YouHodler Month in Review: May 2019
Happy June YouHodler’s! May was a fantastic month for us and for the crypto market on the whole. New features were released, new coins added and long-lasting relationships were created. So let’s take a look back at all the progress we made this month and see what’s also in store for the future.
BSV drama equals profitable May for YouHodler users
Many may remember the Bitcoin SV drama of Mid-April. YouHodler made an official statement on the matter showing that we were one of the few companies to still support our users and not leave them stranded. This action paid off. In May, BSV founder Craig Wright’s activities resulted in a large price increase for the coin. As a result, all BSV HODLers on YouHodler benefited. They were able to close their loans with high profits, covering any commissions in the process without having to sell their BSV holdings.
There were other cases of market drama throughout May including a massive uproar surrounding Tether (USDT) and the claim that they are not actually backed by USD. Despite this news, YouHodler continues to follow customer demand and support their needs. Unlike the vast majority of other crypto companies, we do not succumb to industry trends so easily without first doing right by our own community.
May bull run and new creative ways to profit
All HODLers benefited from the May bull run but some of our more creative clients found new ways to maximize their earnings. We shared one unique way to use our high LTV (90%) in cooperation with our “crypto for fiat” feature to essentially buy crypto for 10% of its value.
After releasing this feature, we noticed a high number of clients using it to margin trade and leverage (e.g. customer buys XRP with USD on YouHodler, takes a loan using XRP as collateral, uses those fiat funds to buy more XRP, takes another loan, buy more XRP, etc).
This is a risky maneuver but one that can provide high profits if one times the market correctly. May was a great month for this strategy and many YouHodler users had high profits as a result.
YouHodler saves the turtles and adds "roll over"
May was a month of opportunity and forgiveness at YouHodler. It started with our Twitter retweet contest that successfully leveraged the social media platform to raise awareness for World Turtle Day (and rewarded a few lucky participants in the process. We thank everyone for their participation).
Following in the charitable spirit, YouHodler released a new “roll over” feature that automatically extends user’s loan terms. Previously, all loans were forcefully closed on the last day of the loan term but now, we have included automated exchanges with a daily charge. Yes, it makes the loan more expensive but for those people that don’t have money to pay back their loan, it saves their position and allows them to keep HODLing. We’ve experienced positive feedback from our clients on this and we are happy to add it to our list of new features. See more information here.
Record setting month for affiliate program
YouHodler continues to grow each month and our Affiliate Program’s success is just one sign of this. Over the course of one month, our affiliate participants attracted more than 500 new users to the platform that took a total of 1,563 loans. If you are not part of our Affiliate Program, don’t worry. We are always accepting new applications.
DASH and XLM collaboration announced
Back when YouHodler added Dash and Stellar (XLM) to our platform, we established productive conversations that eventually led to an early-stage partnership with DASH and future collaboration with Stellar. While we can’t give too much away on that, we just wanted to share this burgeoning relationship with our community and get them excited for some new benefits in store for Dash and XLM HODLers.
EOS and BAT join YouHodler family
YouHodler always adds new coins and features depending on client demand. This past month, Basic Attention Token (BAT) and EOS were the most requested blockchains to be added to the YouHodler family. As a result, we are happy to announced EOS and BAT to our long list of coins and tokens. (BTC, BCH, ETH, LTC, XLM, XRP, DASH, REP).
More coins / new features in June; YouHodler story contest
We’d like to take this quick opportunity to remind you all of our ongoing YouHodler Story Contest. Share your YouHodler success story and enter for a chance to win a 1,000 USDT price. Read the full blog post with contest details right here.
In June, we will add even more coins to the platform for loans, conversion, and purchase, making us one of the top platforms with the most coin options, highest loan to value ratio and largest selection of crypto banking features.
Thanks for all your support and have a great day!