“First of its kind” feature helps HODLers multiply their assets...
According to YouHodler CEO Ilya Volkov, the team got their inspiration for Turbo Loans from several innovative clients. Volkov states that “We saw a pattern where users would take a loan and receive fiat in exchange for their crypto collateral. Immediately after that, the user converted this fiat back into cryptocurrency to use as collateral on yet another loan. Many users were doing this 3, 4 or 5 times, so we decided why not make a feature that does this easily with just one click? Hence, we’re proud to announce Turbo Loans, the first of its a kind feature that makes this new “chain of loans’ trend 100% automated.”
“Turbocharging” your crypto assets explained...
While the concept of crypto-backed loans is not a new one, YouHodler is the first platform to create this new, subdivision of crypto lending that automates multiple loans in one click. Once the user clicks the “Turbocharge” button on YouHodler, the platform automatically will use the fiat from the first loan in the chain to buy more crypto with 0% fee (limited offer). This crypto is then used as collateral for the next loan in the chain. For each additional loan, the interest rate is reduced by .5%.
Users can customize their Turbo Loans by selecting the number of loans in their chain (minimum:3-maximum:5) and also which tariff they wish to choose. Each tariff features different LTV ratios, loan length, and interest rates. In the example below, a user can see how one 1 BTC is multiplied by over 200% using Turbo Loans.
YouHodler becomes “one-stop-shop” for every HODLers...
Before using Turbo Loans, those interested should be aware this feature is best used in a bull market when the market is growing. However, in all other market conditions, YouHodler has beneficial features as well. With traditional crypto-backed loans, users can receive single, instant fiat loans in USD, EUR or stablecoin loans in Tether (USDT). Users can use these newly acquired loans to buy more crypto to hedge or leverage their portfolio, use as capital for their young startup or simply pay the bills. With YouHodler’s upcoming platform debit card, then users will soon have the ability to use their crypto in the real world as well as instantly receive fiat loans to their debit card in seconds.
Whether it’s Turbo Loans, traditional loans or crypto/fiat conversion, YouHodler has become the “one-stop-shop” for every crypto HODLer. To get started on building your portfolio today, visit YouHodler.com and sign up.
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Information provided via press release
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