Baskadia

SA crypto-backed loan is a fairly new financial product that allows people around the world to get instant cash in different local currencies by using cryptocurrency as collateral.

For example, with YouHodler, you can use any of the top 20 cryptocurrencies as collateral for a loan in Euro (EUR), US Dollar (USD), Swiss Franc (CHF) and Great Britain Pound (GBP).

Just like a traditional loan, you borrow money and then pay it back with interest, plus fees over a predetermined period of time.

Depending on your loans agreement, you repay with regularly scheduled payments. Alternatively, you can make a lump sum payment to settle your loan well ahead of time.

But, that’s where the similarities end.

Because Bitcoin is not issued or controlled by a central bank. Your credit score doesn’t matter here. There’s no discrimination.

Bitcoin simply doesn’t care about your education level, geography or credit worthiness. As long as you have enough crypto to put down as collateral and pass the KYC (Know Your Customer) process, you will get a loan in fiat currency. 

Plus, you can withdraw money instantly to credit card and personal banks. 

What’s more, the interest rates are often lower. You save yourself from paying exorbitant fees and built-up interest.

Perhaps the most obvious advantage of using crypto-back loan is that you can get instant access to cash without having to sell your precious cryptocurrency assets.

With a limited and finite supply of total 21 million and huge demand from institutions, the price of Bitcoin is only going to increase with time.

If you already have a YouHodler account, it’s profoundly easy for you to get involved. If not, register now so that you can take part in this new financial revolution.