How to earn USD on YouHodler
Step 1: Deposit USD
To begin, log in to your YouHodler account and click your USD wallet found in the “wallets” section. There, you will see a button for deposit. Please click the button and follow the simple instructions to deposit USD to the YouHodler platform.
Step 2: Convert USD to stablecoin
After the USD deposit is complete, go to your USD wallet and click the “convert” button. Please convert USD to any stablecoin option of your choice.
Step 3: Transfer stablecoins from the wallet to the savings account
After successful conversion from USD to the chosen stablecoin, please move the funds from the wallet to the savings account so you can start earning interest.
Step 4: Earn interest on stablecoins
Once the funds are deposited into your savings account, the first weekly payment period begins.
Monitor your savings account earnings on a daily basis by checking the "Earned" counter. At the end of each week, the earned amount will be deposited into your savings account.
- If you release funds before the end of the weekly period, you will lose all interest earned during the uncompleted week.
- If additional crypto is deposited within the weekly period, the crypto interest from this deposit will be applied to the next week.
- After each week is over, crypto interest will be deposited into your Savings Account. Users are free to keep it there to accumulate even more profit.
What is a stable coin?
As its name suggests, a stablecoin is a cryptocurrency coin that is allegedly pegged to a stable asset (e.g. gold, Euro, U.S. dollar, etc). These coins are available to anyone in the world, do not belong to a central bank and have very low volatility (hence the name). Not only is it a practical coin for everyday use as a payment method, but it’s a valuable crypto-to-fiat bridge for those that want to avoid massive losses in the market.
It’s not uncommon to see other popular coins like Bitcoin or Ethereum rise or fall, 5, 10 or 20% in a single day. While the rapid movements are perfect for people looking to manage risk and profit from market movements, it’s important to have a stable asset as part of your portfolio at all times as well.
All reputable stablecoin reserves are managed by independent custodial institutions and are routinely audited to check if they follow necessary compliance regulations.