YouHodler Referral Code: EF1TGL6N

Sign up to YouHodler and enter the Youhodler Referral code: EF1TGL6N during the initial signup page to get upto $100 free cash added to your wallet. Note the offer changes regularly and consists of one bonus payment for depositing $100, and another for completing 3 * multi hodler transactions

CAPITAL AT RISK WHEN INVESTING USING SOME OF YOUHODLER SERVICES

Cryptocurrency has become an increasingly popular investment option in recent years, offering high returns and low fees compared to traditional investments. However, investing in cryptocurrency can be complex and intimidating, particularly for those who are new to the world of digital assets. That’s where YouHodler comes in. As a comprehensive crypto platform, YouHodler offers a range of services designed to help individuals and businesses in the UK access the benefits of cryptocurrency, from lending and trading to mining and investing.

In this review of YouHodler in 2023, we will explore the platform’s background, its team, advantages and disadvantages, and other crucial aspects. By the end of this review, you will gain an understanding of the most notable strengths and weaknesses of YouHodler and determine if it is the right platform for you or whether one of the multitudes of other crypto platforms is the right one for you.

What is YouHodler?

YouHodler was founded in 2018 by a team of fintech professionals who were passionate about cryptocurrency and saw the potential for a platform that could make it more accessible to a wider audience. The platform is based in Cyprus and has since expanded to serve customers in the UK, Europe, and beyond. YouHodler’s mission is to provide innovative financial solutions that bridge the gap between traditional finance and the world of cryptocurrency, making it easier for individuals and businesses to benefit from the advantages of digital assets. The platform has quickly established itself as a leader in the crypto space, thanks to its user-friendly interface, competitive rates, and commitment to security and regulatory compliance.

YouHodler offers various interest-earning options, including fiat currencies such as USD, EUR, CHF, and GBP, cryptocurrencies like BTC, and stablecoin loans like USDT, USDC, TUSD, PAX, and PAXG. In addition, borrowers can access popular coins like BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and over 60 other digital currencies, with the list constantly expanding.

What Are The Key Services Offered By Youhodler?

YouHodler offers a range of services designed to help individuals and businesses in the UK and beyond access the benefits of cryptocurrency. Some of the key services provided by YouHodler include:

1. Crypto Wallet: Youhodler provides a crypto wallet allowing you to safely and securely manage and hold your various crypto and fiat currencies
2. Crypto lending: YouHodler offers cryptocurrency-backed loans, allowing users to borrow money using their cryptocurrency as collateral. This can be a useful option for those who need cash quickly but don’t want to sell their cryptocurrency holdings.
3. Crypto savings accounts: Users can deposit their cryptocurrency and earn interest on their holdings. YouHodler offers competitive interest rates and supports a wide range of cryptocurrencies.
4. Crypto exchanges: YouHodler offers a variety of crypto-to-crypto and fiat-to-crypto exchanges, allowing users to easily buy, sell, and trade cryptocurrency.
5. Multi Hodl: Multi HODL at Youhodler is a tool to enlarge your crypto assets using a portion of your YouHodler wallet balance. You can keep most of the funds in a safe and stable wallet while earning interest and using some to engage in trading activities with high-profit potential.
6. Cloud Miner
7. Turbocharge: Turbo is a service which provides the opportunity to multiply your crypto assets by creating a “chain of loans” in one click.
8. Portfolio management tools: YouHodler offers a range of portfolio management tools, including a dashboard that allows users to track their cryptocurrency holdings and performance over time.

We will take a look at some of these services in detail so that you can get a better idea of what they are and how they work.

Crypto Lending:

One of the primary services offered by YouHodler is cryptocurrency lending. This allows users to borrow money using their cryptocurrency as collateral. This can be a useful option for those who need cash quickly but don’t want to sell their cryptocurrency holdings. YouHodler offers competitive interest rates and a variety of loan options to suit different needs.

Crypto Savings / Dual:

Dual Asset is a short-term investment product that enables clients to generate significant returns while mitigating risk. YouHodler’s Dual Asset lets consumers to pick from any combination of assets on the platform (e.g. BTC/USDT), unlike rival platforms.

Then, they determine the duration of their strategy based on their risk tolerance. Regardless of the outcome of the transaction, investors always receive their initial investment plus a return proportional to the market performance of their chosen asset.

Multi Hodler: (Capital at Risk – This is a risky option)

The Multi HODL strategy implemented by YouHodler is inspired by the barbell strategy. This strategy involves keeping a majority of your YouHodler account in savings, earning up to 12% annually, while using a smaller portion to purchase more speculative and risky assets.

For instance, if you select 80% of your Multi HODL in savings, you can use the remaining 20% to purchase riskier cryptocurrencies on YouHodler, potentially generating higher profits. The process is straightforward: deposit funds into your YouHodler wallets or savings accounts, and set profit and risk levels.

If crypto prices increase, the value of your coins will multiply, and the profit will be deposited directly into your savings account. However, in the event of a price decline, you will receive your initial deposit back, minus any losses incurred by the risky strategy.

It is important to note that you can withdraw your crypto assets at any time, and if the price falls below the loss level you specified, your position will be closed automatically after ten days. Moreover, you can choose to allocate 20% of your savings for Multi HODL and 80% for low-risk investments, or adjust these percentages based on your risk tolerance levels.

Overall, YouHodler’s Multi HODL strategy provides users with a flexible and unique way to invest in the cryptocurrency market, allowing them to potentially generate higher profits while minimising risk.

Turbo Charge:

YouHodler’s Turbocharge function creates a chain of loans. It automatically uses the traditional currency you borrow to buy more crypto, and uses that crypto as collateral against another loan. You can turbocharge your loan between three and 10 times. You don’t receive any of this cash, because each additional loan is used to multiply the crypto you own. If the value goes up, you win. If it goes down, you could lose your original collateral and any fees, and you’re left with any remaining funds from your final loan.

How do I sign Up To YouHodler?

KYC stands for Know Your Customer, and it is a process used by financial institutions to verify the identity of their customers. At YouHodler, the KYC process involves uploading a valid government-issued ID and going through a verification process that includes taking a selfie. This process is required for all new customers and helps ensure the security and legitimacy of the platform. Once the KYC process is completed, customers can start using YouHodler’s services such as borrowing, lending, and earning interest on their crypto assets.

To complete the KYC process at YouHodler you have to:

1. Go to the YouHodler website and click on “Sign Up” to create a new account.
2. Provide your email address and choose a strong password. Don’t forget to enter Youhodler referral code: EF1TGL6N to earn free cash
3. Enter your personal information, including your full name and date of birth.
4. Upload a clear photo of your government-issued ID, such as a passport or driver’s licence.
5. Take a selfie while holding your ID next to your face.
6. Wait for the verification process to complete, which usually takes a few minutes.
7. Once your account is verified, you can start using YouHodler to borrow funds, earn interest, and withdraw collateral.

The KYC process at YouHodler is straightforward and easy to complete, and the platform adheres to industry standards for security and priv

What is the user experience like?

YouHodler offers several benefits and features that make it stand out in the DeFi space. Withdrawal times for cryptocurrencies are in line with industry standards, and the platform offers innovative products like Turbocharge and MultiHODL. Turbocharge allows users to actively compound their interest earnings, while MultiHODL enables diversification of portfolios without the need to track multiple coins on multiple platforms.

The platform itself is user-friendly, with a well-designed website and mobile app that makes it easy for anyone to monitor their loans, interest, and other services. The mobile app is particularly impressive, with a clean interface and the ability to request customer service right from the app.

In terms of appearance, YouHodler’s website has a modern look and feel, with information presented clearly and easy to find. The registration process is also straightforward, requiring only basic information like country, email, and password, along with agreement to receive platform updates.

How safe is Youhodler?

YouHodler was established in 2018 by Ilya Volkov, a fintech expert with 15 years of experience in commercial finance and trading, who is actively involved with the Blockchain Association and the Crypto Valley Association. The company operates in Switzerland and the EU, with Renat Gafarov serving as the CTO, who has four years of experience as a blockchain architect and has created numerous smart contracts that power the DeFi platform of YouHodler.

YouHodler’s partnership with trusted fiat payment providers indicates that the company has a history of collaborating with banks and government entities to provide customers with a secure experience. Additionally, the platform holds bank accounts with reputable banks throughout Europe and Switzerland, further strengthening its security and reputation.

These measures ensure that YouHodler’s clients can trust the platform with their funds and personal information. With a team of seasoned fintech experts and secure partnerships in place, YouHodler is positioned to continue building its reputation as a reliable and secure lending platform.

As an active member of both the Blockchain Association of Financial Commission and the Crypto Valley Association, YouHodler has established a reputation for reliability and trustworthiness. Additionally, the platform offers customers protection through the independent Financial Commission’s efficient dispute resolution process.

This process provides customers with access to a licensed third party to resolve any conflicts that they feel cannot be resolved by YouHodler. By being a part of this dispute resolution process and holding memberships in reputable organisations, YouHodler provides an extra level of legality and legitimacy, which ensures customer safety throughout Europe.

Compared to its competitors, such as Makerdao or Compound, EU residents benefit from additional legal protection when using YouHodler. In summary, YouHodler’s licence and insurance offer customers peace of mind and an added layer of security.

YouHodler implements high-end security practices commonly used in the financial services industry, such as allowing users to lock their financial assets. If a user has over 10,000 USD (or the equivalent in fiat or cryptocurrency), they can request to disable all withdrawal options. This means that if someone hacks into their account, they will not be able to withdraw funds. The user must contact YouHodler, verify their identity through time-stamped pictures or video calls, and request to withdraw or enable withdrawals.

By disabling all withdrawal options, YouHodler eliminates any chance of suspicious withdrawals since only the user can verify their identity. On the other hand, users with less than $10,000 in their balance can still use 2FA and strong passwords to secure their account, which is standard among top DeFi platforms.

Notably, other DeFi platforms like Nexo and Compound do not offer the same level of security measures that YouHodler provides. This added security feature gives YouHodler an edge over its competitors and enhances its reputation as a reliable and secure platform for lending and borrowing.

Pros and cons in a nutshell

Pros:

• Strong security measures to keep your funds safe
• Crypto assets are insured for up to $150 million
• Offers competitive interest rates for stablecoins
• Unique features like Multi HODL and Turbocharge
• Flexible loan terms with the option to increase duration
• High loan-to-value ratio for the top 20 coins
• Excellent customer service with quick response times to complaints

Cons:

• Relatively new company founded in 2018 compared to its competitors
• Loan currencies limited to USD, EUR, GBP, and BTC depending on collateral used
• Not available in several countries including the USA and China
• Not very clear on the risks involved in some of the services it offers.

Overall, YouHodler is a reputable DeFi platform with solid security features, insurance, and unique offerings. While it may be relatively new compared to other platforms, it has a strong track record and excellent customer service. However, it is important to note that it is not available in certain countries and has limited loan currency options.

What is the customer service like?

YouHodler provides a solid customer service experience for its users. With 24/7 support available through live chat, email, and phone, users can get help whenever they need it. Live chat is the fastest way to get a response, with email taking 24-48 hours.

In general, YouHodler’s customer service team is dedicated to maintaining a strong reputation in the DeFi space. They strive to resolve issues quickly and in the best interest of their users. Overall, the platform’s commitment to customer satisfaction is a positive aspect of their service.

YouHodler final verdict

Thank you for taking the time to read this review of YouHodler. Throughout this article, we have covered the platform’s features, pros, and cons, as well as its overall functionality and user experience.

In my opinion, the best feature of YouHodler is its Turbocharge feature, which allows users to clone their collateral through a chain of loans, potentially expanding their portfolio and earning more profit. The platform’s Multi HODL feature is also an excellent tool for those looking to capitalise on market volatility. Note that both of these services offered by Youhodler are extremely risky strategies and you could lose a significant amount of your funds so please think carefully and get advice before using these services.

If you do sign up for Youhodler – you should use youhodler referral code: EF1TGL6N and earn upto $100 in free funds added to your wallet.