A fintech platform says it is on a mission to stop passive hodling — helping them to unlock value from their cryptocurrencies in new ways.
YouHodler offers crypto-backed loans that enable enthusiasts to generate liquidity from their digital assets without having to spend them.
A suite of trading solutions encourage experimentation — while web and mobile wallets deliver “a safe and easy-to-use alternative to senseless crypto wallets.”
By integrating a range of payment methods, including stablecoins, bank transfers and credit cards, YouHodler’s goal is to create seamless connections to the real world — ensuring crypto can be used for everything from buying groceries to booking flights and paying bills.
And at a time when the interest rates on offer from fiat-focused savings accounts are lackluster to say the least, YouHodler aims to offer more rewarding alternatives.
A wealth of experience
Members of YouHodler’s top team include CEO Ilya Volkov. With 15 years in fintech under his belt, he is proud to be an active member of the Blockchain Association and a board member of the Crypto Valley Association Switzerland. Chief technology officer Renat Gafarov is a blockchain architect who has created the back-end solutions relied upon by a number of crypto exchanges, and has authored hundreds of smart contracts. Meanwhile, head of product Alex Vinny specializes in financial apps — and he previously served as a senior user experience engineer for a trading app with 2.2 million clients from 110 countries.
YouHodler says there are a number of compelling reasons why its offering stands out from the crowd. A partnership with Ledger Vault means that it offers secured crypto wallets backed by pooled crime insurance worth $150 million — and the company’s bank accounts are also based at reputable institutions across Europe and Switzerland.
The company’s startup mentality embraces “dynamic development” too, with at least one new feature rolled out every two weeks. This is purely based on demand from customers and executives say that they love receiving feedback on the functionality that their user base would like to see next. Customer service is another priority and YouHodler says VIP-level support is available 24/7 to everyone — including miners, traders and hodlers.
More insights from YouHodler here
What’s on offer
A diverse range of products are on offer through YouHodler — including flexible crypto loans.
Top coins can be used as collateral for loans that are paid out in euros, dollars, pounds and Swiss francs — and as an alternative, funds can also be delivered in the form of Bitcoin or Tether. Twenty major cryptocurrencies are accepted as collateral, loans are available from $100, and a loan-to-value ratio of up to 90% is available for some users. Other features of this product include the ability to change a loan’s duration and repay monies borrowed using collateral.
According to Volkov, cryptocurrencies have come along leaps and bounds when it comes to “showing their promise as a unique store of value and efficient means of transfer” — and YouHodler has made significant inroads in presenting crypto lending as a powerful use case.
Stressing that his company aims to serve as an evolutionary bridge between digital assets and fiat — combining the best of both worlds — the CEO has said: “We need to stop comparing the crypto world to the fiat world. Crypto does not have to be a full replacement for our current system. Both can coexist.”
Support for new digital assets is regularly unveiled, with Bancor, 0x and Sythentix just some of the cryptocurrencies that have recently been added to the platform. Others include Dogecoin, OMG Network and yearn.finance.
Hodling cryptocurrencies can take nerves of steel and a lot of patience, but YouHodler aims to make it that little bit easier.
Learn more about YouHodler
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.
Sourced from cointelegraph.com.
Written by Connor Sephton on 2021-06-15 12:24:30.