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YouHodler currently supports eight stablecoins and 32 cryptocurrencies.
YouHodler, a fintech platform that helps users keep their coins through instant cash, has announced that it has added 10 popular digital assets. Consequently, YouHodler users can now get cryptocurrency loans backed by the top 40 coins with up to 90% loan to value ratio (LTV). In addition to getting crypto-banked loans, users can stake their coins and earn up to 12.3% APR besides the compounding interest.
“DeFi allows consumers to earn interest on their capital through farming and staking but the process is challenging and not that much user-friendly. And with staking you need to lock 2 times more funds than you might want to since you need both the token and USDT,” the company noted. “We’re seeing a lot of demand for these specific projects, they have growing communities and as a CeDeFi platform we want to remove the burden from our users and allow them to benefit from this economy.”
The decentralized financial ecosystem (DeFi) and the centralized financial ecosystem (CeFi) have significantly revolutionized the banking sector that was heavily affected by global inflation. Moreover, most traditional banks offer zero to negative interest in savings, thereby making it difficult for the retailers to have a sound saving environment.
Borrowing cash against digital assets gained traction with the emergence of the decentralized financial ecosystem. Retail crypto investors no longer have to spend their coins on daily expenditures. With YouHodler in existence, backed by experienced developers, retail crypto investors can now access the best services in loans and staking.
Notably, YouHodler currently supports eight stablecoins and 32 cryptocurrencies. What’s more eye-catching is the fact that the platform adds a new feature every week in accordance with the market’s demands. Furthermore, it is a consumer-centric platform that is insured up to $150M in damages.
YouHodler and the CeDeFi Ecosystem
The platform is venturing into a highly competitive market, but it is worth noting that market analysts estimate more growth for the crypto market in the next decade. Consequently, the platform has introduced edge services to put it ahead of the competition. Among the notable features, YouHodler is the only platform that provides savings rewards on ZIL and FTT (FTX).
Additionally, the platform updated its classic loans, thus users can borrow DeFi tokens against leading stablecoins.
The centralized crypto ecosystem is fast merging with the decentralized financial ecosystem that resulted in the birth of the CeDeFi ecosystem. YouHodler is a perfect example of a CeDeFi that seeks to take crypto adoption to the next level through mass adoption.