How to Get an Instant Bitcoin Loan
Bitcoin (BTC) is where it all began. It is the first and most popular crypto in the world. Bitcoin helped launch a revolution. Helped lead the march from classic FinTech to blockchain technology and decentralization. So here are some interesting facts about this popular crypto as well as a quick tutorial on how to get a crypto credit backed by Bitcoin on YouHodler.
What is Bitcoin: Advantages of BTC loans
Bitcoin's history is a mysterious one and still is to this day. According to what we do know, BTC was first invented back in 2008 by Satoshi Nakamoto. One year later, the crypto was released as an open source on cypherpunk web board. It quickly created a lot of buzz in the tech community.
Eventually, it escaped its dark reputation as the "currency of the dark web" and now is a viable means of currency. As the most popular crypto on the market, there are many advantages (and some disadvantages) to receiving a Bitcoin loan.
Pros and cons of borrowing Bitcoin on YouHodler
- Decentralized: BTC is not vulnerable to the actions of a central governing authority such as financial institutions, political body or bank executives.
- Borderless transactions: Bitcoin's the world's first worldwide currency that can easily be sent across borders without delay. As the world moves to a globalized economy, this will become even more important.
- Super Security: Bitcoin is very secure due to its blockchain design which features advanced cryptography during the transaction process.
- Popularity: As the most popular cryptocurrency, Bitcoin is the first choice for crypto traders looking to enter this new market.
- Volatility: Bitcoin is infamous for its volatility. Any day, there can be a dramatic price swing and for the most part, it's largely unpredictable. However, in recent years, this volatility has become less dramatic as the market matures.
- Competition: As a cryptocurrency in the first generation, there are many facets of Bitcoin's technology that have been improved upon with second and third generation crypto's to date. Many question the longevity of BTC in the years to come.
However, with YouHodler, this volatility does not have to be an issue. By choosing a Bitcoin loan on YouHodler and using BTC as collateral, crypto investors do not risk losing any potential growth in the future as they would be selling it. Actually, a BTC loan just might be the difference in growing your portfolio.
Fast way to get crypto loan backed by Bitcoin
Even if you have never received a crypto loan before, getting a BTC loan is incredibly easy. All you need is a BTC balance, and a YouHodler account. You can convert your borrowed crypto funds to Bitcoin (to get leverage) or to altcoins (to diversify your portfolio) on our lending platform, as well as instantly withdraw borrowed cash to your credit card or bank account.
Use your Bitcoin to hedge or leverage your portfolio for maximum protection and growth depending on market conditions. If you would like to learn more about a BTC loans and detailed steps on how to get one on YouHodler, read the full tutorial here.
It's worth trying! Forget selling your
with instant crypto backed loans on YouHodler
If you would like to learn more about crypto credits, please continue to the app. Start boosting your crypto portfolio now with YouHodler's crypto lending, convert, buy and sell options.OPEN ACCOUNT