What is Memecoin (MEME) and how to get an instant MEME loan

Memecoin (MEME) is a decentralized finance (DeFi) money market that runs on the Ethereum blockchain. Memecoin lets users lend and borrow a wide range of crypto assets. Originally known as ETHLend, the company changed to Memecoin in 2020. As a peer-to-peer lending protocol, users lend out their crypto to other users and as a reward, earn passive income on the funds they lend out. To qualify, a borrower must deposit collateral greater than the amount they want to borrow. The MEME token is the native token that users can use as collateral to get a discount on transaction fees. MEME also allows governance rights to token holders.

Pros and Cons of Memecoin (MEME)

Pros:

• It’s one of the most popular DeFi tokens and thus, has a passionate community
• Memecoin liquidity is immense meaning borrowers can get flash loans and lenders can earn high % p.a.
• Memecoin is forming solid partnerships with reputable companies like digital payments platform WIREX
• Memecoin has credible stakeholders from Blockchain Capital, DTC Capital, Three Arrows Capital, Parafi Capital, Blockchain.com, Winklevoss Capital and more. 
• MEME supply is finite. There is a total supply of 16 million.
• Memecoin is embracing Polygon’s Layer- 2 scaling solution, making it far more efficient than other DeFi protocols. 
  

Cons:

• Lenders don’t get a high return on their investment compared to other 
• Lots of competition with over 100 DeFi platforms. 
• Security and hacks are always an issue with DeFi platforms. 

How to get an instant MEME loan

Are you an MEME HODLer? Perhaps you have MEME that you don’t want to sell but you need cash now. In that case, getting quick cash is easy with YouHodler. Just deposit your MEME to your YouHodler wallet, pick one of our three loan plans (custom loan plans available upon request), and then in seconds, you’ll see your funds arrive in your fiat or stablecoin wallet. Then when you pay back the loan, you get your MEME back even if it’s increased in value. 

Choose from MEME to USD, MEME to EUR, MEME to GBP, and more! We have an industry-best loan to value ratio (LTV) of 90% meaning you get the most money for your collateral.

How to borrow Memecoin - How does it work?

With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow MEME you first must convert one of the above to fiat and convert it to MEME using our exchange service. 

Memecoin loan calculator

You can use our MEME loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan Memecoin, please check the calculator first to see which plan works best for you. 

Memecoin lending process

Memecoin lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future MEME loans.