Since I started playing OSM, I've been seeing a lot of YouHodler ads promoting cloud mining and high rates. Intrigued, I looked into the platform. YouHodler is a centralized crypto-lending and borrowing platform, founded in 2017, operating in Cyprus and Switzerland. Despite some concerns about Cyprus, the team's efforts and cautious presence are somewhat reassuring.
Given past issues with platforms like Celsius and BlockFi, YouHodler has taken steps like using Ledger Vault for up to $150 million in pooled crime insurance to secure user funds. Their KYC and AML policies also emphasize security through identity verification.
Platform Features:
- Exchange Service: with a minimum deposit of $5.
- Lending and Interest: up to 12.3% annual interest on deposits, with interest paid weekly. A $100 minimum deposit per asset type is required.
- MultiHODL: allows users to speculate on crypto prices with a portion of their deposit.
- Turbocharge: Enables users to leverage their crypto for multiple loans, increasing exposure and potential returns.
Borrowing and Risks: YouHodler offers loans with a high loan-to-value ratio of up to 90%. However, there are concerns about their operational transparency regarding supported collateral coins.
Cloud Mining: Users rent mining capacities from a company that manages the hardware and process, earning rewards. Given current energy prices and low mining rewards, profitability is uncertain. Show Less
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