YouHodler has a long and growing list of coins and tokens available as crypto collateral on its lending platform. We will continue to add more options for crypto credits and exchange.
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Crypto backed loan is quickly becoming a popular option amongst crypto traders as an alternative to traditional loans. The reason for this is that crypto exchanges cannot offer big leverage for trading.
Crypto loans designed for two purposes: To leverage your crypto assets and save your position in case the market goes down. Also, blockchain technology adds an increased layer of trust and transparency.
PROS: on YouHodler, a crypto loan is almost instant and does not include complicated credit checks. All crypto assets used as collateral are securely stored in the cold wallets until the user repays the loan. Compared to other platforms, YouHodler has higher loan-to-value and users never have to sell crypto assets to utilize its value.
CONS: taking crypto backed loan can be risky if users trade cryptocurrency on the rising market to pay back their loan or when they utilize margin trading techniques. As with any financially motivated decision, all users should do their own research and be prepared for all consequences.
People choose YouHodler crypto loans for a variety of reasons. The most popular reason is to hedge or leverage crypto assets, paying mining expenses, paying for travel expenses or funding business initiatives.
Crypto lending is an extremely efficient, transparent and cost-effective alternative to the traditional loans found in banks. There are a wealth of benefits for both borrowers and lenders that will help propel YouHodler into the mainstream environment.
If you would like to learn more about crypto backed loans and detailed steps on how to get one on YouHodler, please continue to the application. Start leveraging your crypto portfolio now with YouHodler's crypto lending, convert, buy or sell options.OPEN ACCOUNT