The YouHodler Six Month Review: An Innovation Recap
The last six months were highly eventful for YouHodler and the crypto market on the whole. This roller coaster of emotions we all have experienced may distract us from the true progress that was actually made. For that reason, we here at YouHodler decided to compile a six-month review of everything our team, and our interactive community members have accomplished. So as the sun sets on yet another great summer, let’s look at the progress of the past and see how it can help shape our immediate future.
March: YouHodler goes "full cycle" with crypto conversions and credit card payments
Following the announcement of XLM listing in March, the YouHodler development team was hard at work to complete the platform’s long-awaited conversion tool. This allows users to convert any crypto on the platform (BTC, BCH, BSV, ETH, LTC, XLM, XRP) to USD or EUR. From there, YouHodler allows users to withdraw their fiat holdings directly into their credit/debit card quickly if they choose to do so.
We believe this adds a new utility for all coins on our platform since it allows users to effectively deposit their crypto directly to their traditional bank accounts (through the process of conversion). This new addition marks the beginning of our transformation from a simple crypto lending platform to a crypto/fiat FinTech platform that includes crypto wallets, crypto lending, blockchain integrations and more.
April: New coins, diverse options, and more utility
Due to popular demand from community members, YouHodler added DASH and EOS to their growing list of coins that includes, BTC, BCH, BSV, ETH, XRP, XLM, LTC, and more. YouHodler users can choose any of these options to use as collateral for a crypto backed line of credit. Furthermore, they can convert any of these crypto options to other cryptos on the platform in addition to stablecoins (USDT) and to fiat (USD or EUR).
Also joining the family is Augur (REP), the first token included on the platform. Just like all other cryptocurrencies on the platform, REP holders can now utilize the value of their REP assets in the real world without having to sell off their investments. In the near future, REP HODLers can also convert to any listed coin on YouHodler.
May: Crypto spring 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.
June: Turbo loans, LTV increase revolutionize crypto loans
LTV increase and Turbo Loans were the most prominent releases for YouHodler in June. In May, we noticed a need for a feature that lets users increase the loan to value ratio (LTV) on an existing loan if they choose. With this method, HODLers can get more fiat for their opened loans without having to increase their collateral amount.
At any moment, the crypto market can experience a bull run. While many other lending platforms lock your assets, YouHodler now allows you to increase LTV on existing loans to get more cash to maximize profits on a bull run without having to close a loan.
Following up on this release, YouHodler recently announced Turbo Loans. After noticing a pattern where our clients are using a “chain of loans” to leverage and multiply their assets, YouHodler customized a new tool that automates the entire process. In one click, users can start with an amount (i.e. 1 BTC) as collateral, and theoretically “Turbocharge” this amount to more than three times its original value. (market conditions apply). It’s a simple, efficient way to use a series of loans that multiply your crypto holdings.
Click here to see how to get more crypto for less using Turbo Loans.
New landing page and calculator attract new audiences
Perhaps the most obvious change to our platform in June was the physical redesign of the website. Thanks to our highly talented team of designers and developers, YouHodler.com is now more user-friendly, attractive and informative. If you haven’t already, go there now to see the fresh look, and engaging content. Also worth noticing are the newly added loan and conversion calculators, seen on the landing page for your convenience.
July: Manage your crypto/fiat wallets and loans on the go with YouHodler mobile app
The end of July saw YouHodler release it’s first version of a mobile app for iOS and Android devices. The app is a streamlined, user-friendly interface that lets users simply deposit and withdraw funds into secure wallets, manage loans, view account activity history and more. All crypto/token wallets (BTC, ETH, XRP, XLM, LTC, BCH, BSV, DASH, EOS, BAT), fiat wallets (USD, EUR) and stablecoin wallets (USDT) are available.
August: USDT Savings Account Gives Users 12% Annual Profit with 0% Effort
YouHodler is happy to announce the release of its USDT savings account, an entirely new feature designed for “HODLers” who will earn up to 12% profit per year with no risk involved. Available for all YouHodler clients, USDT savings account lets users deposit USDT into a wallet on the platform which YouHodler states will grow up to 12% per year.
With the second half of the year upon us, YouHodler has many big plans in store. We can’t give too much away but all new features aim to give users more control and flexibility over their crypto assets. We’re excited to share this with you all as well as hear what innovative ideas you have to offer.