The advent of blockchain has revolutionized the finance sector, introducing several key solutions that narrows the gap between the real world and DeFi. Before now, loans and earning interests on capital were only limited to traditional financial platforms. Thankfully, these solutions have become possible in the DeFi world, thanks to fintech platforms, such as YouHodler.
YouHodler is a platform that grants people access to the crypto economy by allowing users to get cash and crypto loans, trade crypto/fiat, and earn interests on crypto deposits. Recently, the DeFi platform announced the addition of ten new coins to its existing cryptos in a bid to diversify its financial services and meet customer’s demands.
The new coins include; Avalanche (AVAX), BitTorrent (BTT), PancakeSwap (CAKE), NEAR Protocol (NEAR), 1inch Network (1INCH), Cosmos (ATOM), Elrond (EGLD), and Filecoin (FIL). While users will be able to trade new coins, they can also earn up to 5.5% interest on Zilliqa (ZIL) and FTX token (FTT).
Currently, YouHodler pays interest on BTC, BNB, ETH, HUSD, HT, PAXG, and other listed coins. All tokens are trusted by the users and currently occupy the top 100 positions according to CoinMarketCap.
YouHodler Aims to Ease the Lending and Staking Process
DeFi has made it possible to earn on investments through staking and farming, but the overall process has been challenging, especially to new crypto users. In addition, the investor will have to lock two times the initial funds for investment, as they will need both the token and the stablecoin.
In addition, the user-friendliness is lacking. New crypto users will find it hard navigating through a platform with complicated U.I. and complex dashboard. What these users need is a DeFi platform with a simplified dashboard that provides all the necessary information and has the tools for the execution of most tasks.
The challenges are still immense, and that’s what YouHodler aims to ease. The C.E.O IIya Volkov, revealed that a CeDeFi platform, such as YouHodler allows users to benefit from the crypto economy. YouHodler brought up solutions to connect the DeFi world with the real world, enabling users to earn on their crypto investments. They can earn up to 12% APR plus compounding interest on their deposits.
By opening a crypto savings wallet, the user can earn a certain amount on the deposit as stipulated from the first week until the last. The earnings are deposited directly into the user’s account without any inconvenience. Plus, YouHodler provides estimated earnings for the different periods. So, the user can calculate their potential income.
Not only can users earn on crypto investments, but they can also buy/sell virtual currencies at any time with credit cards. Additionally, they can exchange virtual crypto, fiat, and stablecoins and get instant cash. Users will also be able to obtain crypto loans, with their assets as collateral. YouHodler accepts the top 30 cryptocurrencies as collateral and the minimum obtainable loan is $100.
All funds deposited on the YouHodler’s platform are protected by Ledger Vault and Fireblocks, a leading security Swiss-based company.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2022/01/youhodler-innovative-fintech-platform-integrates-new-coins-to-boost-access-to-the-crypto-economy