YouHodler rapidly expands

April 10, 2019

Fintech company rapidly expands offering in light of crypto spring bull market


YouHodler is now offering cash loans of $30 000 using cryptocurrency as collateral. The customers must be willing to put up their cryptocurrency to be able to get this loan. This is in an attempt to help people improve liquidity and access to funds while keeping a hodl on their assets.

Community suggestions the reason for the changes

YouHodler says that its community was vital in spurring on the platform's ambition. The suggestions the company received from its active community have resulted in large changes. One such change is the acceptance of Stellar Lumens (XLM) as collateral for the crypto loans the company deals in.

The addition of XLM means that YouHodler now has all major cryptocurrencies under its belt. This, in turn, makes loans easier to access for many people. Those who choose to take up a loan now may reinvest them in the market if they so wish. The company is willing to listen to consumers and if there is enough demand they will add tokens, stablecoins and other coins with all haste.

Conversions and more implemented for crypto spring

YouHodler has also announced that they will be adding crypto-crypto conversion on its platform. The biggest news for many of their clients though will be the new crypto-fiat conversion options. It will allow their users to convert Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ripple (XRP), XLM, Ethereum (ETH) and Litecoin (LTC) to dollars or euros while using their platform. Once the funds are in the required currency, users will then be able to withdraw them to a debit or credit card.

The CEO of YouHodler was proud of the innovations that YouHodler has brought to its platform. He says that users will be able to get a fiat loan based on their crypto holding and immediately withdraw it to a debit/credit card. They would also be able to use that fiat currency to trade on other exchanges. He hopes that by giving users unlimited options the company will win their loyalty.

He also anticipates implementation of a payment system and launching their own credit card. While many in the industry see this as YouHodler taking on too much, too soon, Vitalik Buterin sees this as a natural progression. He firmly believes that if firms do not take advantage of crypto booms and expand their offerings, then they will eventually be eaten up by those firms that do.

The crypto spring has seen Bitcoin rally from 3800 to 5300 US dollars in a short space of time. Many alt-coins have seen triple-digit increases in value and the market is seemingly maturing with traditional investment firms creating portfolios to compete in the market.

Vitalik, who founded YouHodler in 2017, says that his 20 years of experience in fintech helped him gain the partnerships with Swiss and EU banks that lend his company credibility. He says that while it was difficult at first, he feels that with the bull market in full swing, it is the perfect time to start expanding. He says that he is lucky that the platform was launched when it was as the timeline has been very kind to the fortunes of the company.

Author: Ali Raza for Crypto-Rating.com
Cryptocurrency: Bitcoin

ICO and IEO Blowing up
ICO and IEO Blowing up

The crypto markets continue to see recovery, with prices being nearly halfway towards their all-time high. This is particularly noticeable when it comes to Bitcoin (BTC), which is only around $300 away...

ICO Legislation by Russian Parliament
ICO Legislation by Russian Parliament

The Russian Parliament, also known as the Russian State Duma, is about to bring a major change to the way the country views digital currencies and the ICO token sale model. The change...

Renewable Energy Fuels 74% of Mining
Renewable Energy Fuels 74% of Mining

Earlier this month, CoinShares, a well-regarded crypto investment and research company from the United Kingdom, published a report on the current state of the...

KIN Token Taken down from CoinFalcon
KIN Token Taken down from CoinFalcon

The KIN token saw a major price drop after CoinFalcon's recent announcement, which stated that the asset is soon to be delisted. While the exchange is not among...


France Comes up with a Way to Permit Utility ICOs
France Comes up with a Way to Permit Utility ICOs

The cryptocurrency and blockchain situation in Europe continues to progress, with France, in particular, currently making moves to embrace the blockchain and start issuing...

Awaiting Facebook Whitepaper on June 18
Awaiting Facebook Whitepaper on June 18

It appears that the long-rumored launch of Facebook’s own cryptocurrency is just around the corner. Laura McCracken, the Head of Financial...

Japan Tightens Oversight of Crypto Economy
Japan Tightens Oversight of Crypto Economy

Japanese crypto market has entered a new spiral of development following the amendments to the cryptocurrency regulations which had been subject...

Crypt-assets and ICOs Involve Financial Products
Crypt-assets and ICOs Involve Financial Products

A report reveals that the Australian Securities & Investment Commission is focusing on businesses who carry out ICOs and crypto-assets. The reason for...