YouHodler Review

As the cryptocurrency space matures, more options are opening up for investors to put their crypto to work. For example, there are a growing number of platforms where investors can earn interest or even use their crypto as collateral for a loan.

YouHodler is one such platform that offers a one-stop shop for crypto lending, borrowing, and trading.

YouHodler offers crypto-backed lending with fiat (USD, EUR, CHF, GBP), crypto and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG, DAI, HUSD), crypto to fiat and crypto to crypto conversions, as well as high-yield crypto-saving accounts (crypto-rewards & staking).

In this YouHodler review, we’re going to take a look at some of the main features of this crypto lending platform, as well as examine the pros and cons.

Who’s behind YouHodler?

The company has offices in Cyprus and Switzerland; the Swiss operations are regulated and authorized by the authorities in the canton of Vaud in Switzerland and registered with the Swiss financial sector Ombudsman.

The CEO is Ilya Volkov who has 15 years of experience in FinTech and is involved in the Blockchain Association and the Crypto Valley Association. See an interview with Ilya here.

YouHodler Review: The Main Features

Crypto-backed loans

Based on your crypto holdings with YouHodler, you can use the crypto as collateral to get up to 90% loan to value ratio (LTV) for the 30-day loan, 70% LTV for a 60-day loan, and 50% LTV for 180-day loan.

Note that crypto loans need to be overcollateralized (i.e. you need to put down more crypto than you want to borrow). You can read more about this concept in our article on cryptocurrency lending.

The minimum loan amount is $100, which is lower than most other crypto lending platforms, including BlockFi (minimum loan of $10,000). Loans don’t require a credit check and the loan can be in fiat such as USD, EUR, GBP, CHF, or another crypto like Bitcoin or certain stablecoins.

More than 20 different coins are accepted as collateral. Repay the loan and have your crypto collateral returned to you. In the meantime, YouHodler uses Ledger Vault’s infrastructure to secure crypto assets and provides pooled crime insurance up to $150 million.

Save and earn interest with Youhodler

YouHodler currently supports deposits of up to 17 different cryptocurrencies (as of Nov 2021). You can earn up to 12.3% interest p.a. on Stablecoins, 4.8% p.a. on Bitcoin, and 5.5% p.a on Ethereum. Interest is accrued daily and paid out in weekly installments. You can deposit or withdraw at any time. There are no minimum lock-up periods.

Here’s an overview of the interest rates available on YouHodler at the moment:

Buy and trade crypto

YouHodler supports EUR, USD, CHF, or GBP, which you can use to buy cryptocurrency, or convert one crypto to another crypto. YouHodler also allows users to trade with leverage.

Web and mobile wallets 

You can use YouHodler as an alternative to cold storage crypto wallets. YouHodler also utilizes cold storage to secure user funds.

YouHodler’s Multi HODL

YouHodler’s ‘Multi HODL’ is a passive trading feature that can be used with your crypto-backed loans where you allocate a small percentage of the loan to the acquisition of volatile cryptos so you can benefit from market volatility, potentially profiting up to 290% but limiting your losses to 50%.

YouHodler’s Turbocharge

YouHodler’s ‘Turbocharge’ is a passive trading feature that can be used with your crypto-backed loans. Borrowed funds are automatically used to purchase more crypto to receive new loans.

For example, you could borrow $1000 in BTC. You can then use that $1000 in borrowed BTC as collateral to take out a $600 loan in crypto A.

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You can then use that $600 of crypto A as collateral to take out $300 in crypto B. 

You can then use that $300 in crypto B as collateral to take out $100 in crypto C.

This can be repeated up to 10 times and will lead to high earnings if the value of the particular crypto increases but there’s also a risk of losing all your capital if just one of the cryptos dumps i.e. default on one loan can trigger a default on all the loans. 

YouHodler’s Security Features

YouHodler uses three-factor authentication (3FA) for balances over 10,000 USD or equivalent which means that a customer can completely lock down their funds and disable all withdrawals until reversed manually.  See more here.

Which Countries is YouHodler Available?

YouHodler is available throughout the European Economic Area (EEA) which is all EU countries plus Iceland, Liechtenstein, and Norway and also the UK and Switzerland, and most countries in Asia, Africa, and South America.

YouHodler is not available to users in the following countries at this time:

• The USA;
• Unincorporated territories of the US;
• Bangladesh;
• China;
• Iraq;
• Pakistan;
• Crimea;
• Cuba;
• Iran;
• North Korea;
• Sudan;
• Syria;
• Afghanistan;
• Palestinian Territories;
• Nepal;
• Bolivia;
• Egypt;
• Algeria;
• Morocco.

Learn More About Cryptocurrency Lending

There are a growing number of cryptocurrency lending platforms available on the market. YouHodler is based on a more traditional CeFi (centralized finance) model. However, there are other platforms that are decentralized and use smart contracts, rather than a centralized intermediary.

Before you consider taking a loan, you should read our article on cryptocurrency lending to learn more.