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With that said, getting a loan funded in Bitcoin is not without its risk.

Since you need to transfer your Bitcoin to the other party, you have to trust the crypto platform to manage and keep your crypto assets safe.

Meaning that you have zero control over your Bitcoin.

And you’ll only get back your coin when you repay the loan with interest.

What if you fail to repay the loan?

Then you could end up losing all or part of your collateral.

So why should you take a Bitcoin loan?

Rather than spending your cryptocurrency and dealing with accounting headaches, crypto-collateralized lending is a great solution for crypto enthusiasts who are committed to HODL their coins for the long-term while still having access to cash when they need it.

1. Instant access to cash

With YouHodler crypto loan, you don’t have to sell your Bitcoin or any cryptocurrency when you really need it. Instead, putting your coin as collateral will give you instant access to cash within a day.

There are many ways you can benefit from the loans, such as start a business, buy a new house, paying off your high-cost debit, grow your investment portfolio and so much more.

2. There are no credit checks.

Getting a regular bank loan isn’t easy. It can be giant pain in the ass, especially for those who have bad credit. 

On the contrary, borrow cash using a crypto loan platform like YouHodler will give you the same, flexible loan terms and cheap interest rates, regardless of your occupation, nationality, or credit scores.

3. Enjoy the massive potential upside of Bitcoin

You’ll get back your collateral once the loan is fully paid, allowing you to capture the upside potential of your crypto assets.

As you may know, Bitcoin is brilliant for long term saving.

People living in developing countries with weak currency use Bitcoin as a store of value, and those in many developed countries use it as a speculative growth asset.

So it’s the only hard asset you’d like to own for the next 5-10 years in order to get the highest returns.

4. You get Tax-Free money

Borrowing cash against cryptocurrency is NOT a taxable event.

But if you sell your cryptocurrency for cash, you need to pay tax to the government.

So why not using your cryptocurrency as collateral with YouHodler and get cash quickly?

This way, you can avoid paying unnecessary taxes. 

Plus, the interest you pay on a YouHodler loan may be tax-deductible against your net investment income depending on how you use the proceeds of the loan.

All in all, this low interest debt crypto instrument is definitely the way to go for crypto investors to get tax-free dollars.