Did you know that you can get a fiat loan using your crypto assets as security? If you have been investing in crypto, you can now use your assets to get crypto backed loans. Back in 2009 when Bitcoin was being launched, only a few people believed that crypto would challenge centralized financial systems.
Cryptocurrencies are changing how online businesses and financial systems work. If you are planning to invest in crypto, there is so much that crypto has to offer over fiat currencies. In this article, we will look at the pros of crypto coins. we will also share how you can lend your crypto to earn interest.
Benefits of Crypto Coins
Bitcoin was launched in 2009, and it was the first crypto coin. At the time, it was only worth $1 USD, but there weren’t many crypto exchange platforms then. Crypto coins were developed to give people control over their money.
Crypto coins operate over a decentralized system. This means that you have complete control over your crypto assets. In addition, the government cannot freeze your assets, which is the case when you consider centralized financial institutions such as banks. Some crypto wallet service providers offer crypto backed loans so you can invest in more crypto coins.
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Another point worth mentioning is that crypto coins are a universal currency. As such, the currency does not need any conversion when you use it to pay for goods or services from different parts of the world. In summary, the transactions are cheaper and faster compared to when using global fiat currencies such as the Euro or USD.
Crypto Wallet Services
Crypto wallets are like online banks where you can store your cryptocurrencies. One of the most common crypto wallet service providers is YouHodler. YouHodler is like a cryptocurrency bank where you can save your crypto coins and also leverage them to earn extra coins.
So, how does it work? YouHodler allows its clients to hold on their crypto assets for a long time without needing to sell them. Most crypto investors tend to liquidate their crypto assets whenever prices drop or they get into financial trouble. However, this is where Youhodler steps in.
One you can request a fiat currency loan and use your crypto assets as leverage. This way, you do not have to sell your crypto coins in case you need some quick cash. Lastly, you can lend your crypto and earn interest, which is sent to your crypto wallet every week. The interest rates are at 12% APR, which is quite favorable.
Crypto coins are slowly changing the financial world. The benefits surpass the risks involved, especially for new investors. Crypto coins are universal, meaning that they are accepted all over the world. You can also use your crypto savings to earn more coins. If you intend to invest in crypto, there are many altcoins out there. However, remember to research liquidity in crypto before investing. Social media forums on crypto are always a good place to start.