YouHodler is a fintech company that started its business in 2017. Its goal was to offer users to leverage the advantages the crypto economy offers. That includes keeping a savings account and earning interest on Bitcoin and altcoins. The platform offers loans where you use crypto as collateral. It also acts as an exchange to round up the available services for a digital asset owner.
The brand also launched a wallet that can simplify your crypto-to-fiat transactions. YouHodler wallet is a web-based or “hot” wallet, which means it stores your keys online. If you prefer this type and want to use the platform’s services, this product is a great option. Check out our YouHodler review to learn about how this software works!
YouHodler Product Details
- Release date: 2017
- Type: Web (hot) wallet
- Compatibility: Windows, Mac, Linux, iOS, Android
- Supported currencies: Fiat, Stablecoins, Crypto, ERC20
- Security option: Ledger Vault
YouHodler Pros and Cons
Pros
- Earn interest in Bitcoin and other cryptocurrencies
- The platform offers a loaning service
- Interests on deposits in certain currencies
- Easy to buy BTC and other cryptos with fiat
- A simple exchange process when converting from one crypto to another
- Reliable customer support
- Mobile apps work like a charm
Cons
- It doesn’t offer the same security as hardware wallets
- Some features aren’t designed for beginners
- Not available in the USA
How Does YouHodler Work?
The actual working process isn’t different from other web-based wallets. You have two options for installing YouHodler. The first one is using a desktop device to head to the website and open an account. You also have the alternative of downloading the YouHodler app and installing the wallet on your Android or iOS device.
YouHodler uses Ledger Vault, which is a premium digital asset custody solution. Many exchanges and professional banks use this management system. Its biggest advantage is that pooled crime insurance is $150M. That ensures you remain protected even if something goes wrong, although the security level is impressive for a web-based wallet.
Once you install the YouHodler wallet, you have different options. That includes getting a loan, HODLing your crypto assets, or converting one digital currency to another. It’s an all-around platform, especially if you have enough knowledge to understand the benefits of each service.
YouHodler Features
Support for More than 7 Stablecoins and 30+ Digital Currencies
YouHodler made sure to carefully choose the range of currencies available. Since it’s a crypto-to-fiat wallet, you’ll find support for USD, CHF, EUR, and GBP. The supported cryptos include BTC, XRP, XLM, ETH, and 20+ others. The important thing is that the platform also supports stablecoins. That includes seven currencies, including EURS, DAI, PAX, HUSD, TUSD, USDC, and USDT.
Hold on Crypto Assets and Earn Interest
If you pick to use YouHolder as a savings account, you can expect interest as time passes. The payments come in weekly intervals. You can monitor your current earnings in the upper-right section. You need at least $100 to start using this platform, which is a fairly low amount compared to similar services.
Get a Loan by Using Crypto as Collateral
This platform offers so-called crypto-backed loans. That means you use cryptocurrencies as collateral to receive cash for your standard needs. It ensures you can continue HODLing and receiving interest while covering any other areas for which you need actual money.
Get Interest on Deposits with Certain Currencies
The actual currencies that come with this option change, so you need to monitor the situation carefully. However, you can count the list includes the most popular crypto options like Bitcoin, as well as stablecoins. The interest can go up to 12.3% for a deposit. And the best part is that you can exchange another currency for the desired one by using this platform.
