In the last two years, decentralized finance has experienced immense growth, thanks to the numerous protocols that have arisen as alternatives to traditional centralized models.
Transacting cross-border now becomes seamless, and users can control their funds completely. In the total value of protocols, there is a clear indication of this tremendous growth. According to DefiLlama, the number has now risen to over $200 billion – a massive increase since 2020.
There are still limited earning opportunities, especially for those who prefer to keep a low-risk profile. Some crypto-native users still find it difficult to access cryptocurrency loans because they are not familiar with decentralized non-custodial protocols.
YouHodler aims to help and improve in this regard by making further opportunities more easily attainable for users.
What is YouHodler?
With YouHodler, users are able to easily make purchases and facilitate transactions, allowing them to interact with crypto at the same time. In addition to buying, selling, and exchanging cryptocurrencies, including stablecoins, users are able to stake crypto for weekly returns and earn income from immediate cash.
In addition to credit card transactions, the platform also accepts bank withdrawals. HODLers are encouraged to use their funds to further the progress of this project, which aims to make staking easier and give more passive income opportunities.
Founder and CEO of YouHodler, Ilya Volkov, believes that the current process is difficult and not particularly user-friendly. Furthermore, he argues staking requires users to lock two times as much money as they would like to invest, which makes it difficult to earn passively initially.
Staking and Obtaining Cryptocurrency Loans
Digital assets can be used to generate income for users. To deposit funds into a crypto savings account, one must open a crypto saving account, according to YouHolder. Following the stipulated earning period, earnings begin to decline to start with the first week.
Users using YouHodler’s earning feature are provided with an estimate of their earnings for the next 12 months, allowing them to plan and be aware of their potential profits.
Crypto loans can be easily accessed through the website. Platform investors can borrow up to 90% of their asset value, with crypto-assets as collateral and a minimum loan amount of $100.
Currently, YouHodler accepts 30 of the most popular coins as collateral, including BTC, BCH, BNB, ETH, LTC, and more. Ledger Vault safeguards all funds deposited on the YouHodler platform by the DeFi protocol and Fireblocks, a company specializing in independent-certified security technology based in Switzerland. According to CryptoPotato, Fireblocks has recently raised $550 million in funding, making its value $8 billion.
Additionally, ten new cryptocurrencies have been added to the YouHodler ecosystem. In this case, they are Avalanche (AVAX), BitTorrent (BTT), PancakeSwap (CAKE), NEAR Protocol (NEAR), 1inch Network (1INCH), Elrond (EGLD), Zilliqa (ZIL), Filecoin (FIL), and FTX Token (FTT). Additionally, users can exchange the coins or stablecoins for fiat or stablecoins, in addition to staking them.