Turbocharge Loans: A More Efficient Way to Buy Crypto

After recognizing a unique pattern with clients taking a “chain of loans” to multiply their assets, YouHodler built a new feature to automate the process on the platform. The “Turbocharge" feature lets clients customize their chain of loans in one click, while also lowering interest fees, eliminating fees on crypto purchases, and creating a better way to buy crypto.

What is Turbocharge and how does it work?

YouHodler’s Turbocharge feature lets clients get a “chain of loans” in one click and with low fees. Once a client clicks the “Turbocharge crypto" button, YouHodler automatically takes the fiat from the first loan to buy more crypto. This crypto is used as collateral for the next loan in the chain.

Interest fees for each additional loan in the chain decrease 0.1%, making it a more lucrative opportunity for profits. Users can customize how many loans they want to have in their chain (minimum of three loans and a maximum of fifteen loans allowed).

On the feature, YouHodler CEO Ilya Volkov mentions that

“following crypto-enthusiasts behavior, we’ve created a new, innovative tool. Turbocharge loans are a faster, cheaper alternative to crypto trading. With Bitcoin and altcoin prices changing up to 10% daily, Turbocharge is a great tool to multiply your portfolio and earn crypto.” 

What are the main advantages of Turbocharge?

• Protect your collateral: During a market downturn, the collateral on your open loan is at risk of hitting the Price Down Limit (PDL). However, to keep your loan open, clients can add more collateral to an open Turbocharge loan. This moves the PDL level and decreases the risk of the loan closing. This is a unique feature to Turbocharge loans and is not available on Multi HODL.

• Buy "the dip" without liquid cash: Every time the market experiences a significant downturn, one hears the term "buy the dip." Market downturns are indeed great opportunities to buy assets at a discount, but not everyone has liquid cash to do so. That's where Turbocharge loans can help. For example, if you like the price of Bitcoin (BTC) currently and want to buy, open Turbocharge and use crypto as collateral to access capital. You can slowly add to your position just as one would do with Bitcoin futures. Then when the price rises later, you profit. Again, this is not a feature possible with Multi HODL.

• Buy crypto on credit: With Turbocharge, you can physically buy cryptocurrency on credit. You can keep the crypto bought on credit or deposit fiat and pay the loan back. The choice is yours. 

Bonus content: Still confused about the difference between Turbocharge and Multi HODL? CLICK HERE to learn more about both.

Looking at a Turbocharge example

Turbocharge's main benefit is to help clients buy crypto without spending and freezing additional funds. One could liken this feature to options, futures contracts, or a similar venture. Using a bullish example, where the market grows 30%, a user could implement Turbocharge to get crypto at a discounted rate of 30% (excluding LTV and interest from YouHodler).

In other words, starting with just 1 BTC, one could “Turbocharge” this amount to more than 4 BTC in just a few clicks. With a 30% market price growth after repayment of the “turbo loans” final profit could amount to 44%.

Looking at the current daily price movements, 30% is not only a realistic figure, but it’s also easy to imagine that number going higher in the months to come.  Clients should be aware there is a risk in this sort of methodology as it requires one to predict the market growth. In the case of the market growing 20, 30, or 50+ %, the client will get a “turbocharged” amount resulting in a significant profit. 

Introducing a new way to work with the crypto market

Turbocharge is YouHodler’s most efficient feature for users that want to leverage their crypto and grow their portfolio with minimal effort. Due to the automated nature of Turbocharge, users simply press a button as opposed to the time-consuming manual process of chain loans before.

So if you believe in the future growth of the crypto market and want to quickly add to your portfolio, then give Turbocharge a try today.