If you want to store your cryptocurrencies somewhere, you should look for a suitable cryptocurrency wallet.
We call it a “wallet” as it is used for the same reason as a “regular” wallet. You can quickly and securely store, transmit and receive cryptocurrencies with the wallet. Some of these wallets are more feature-rich than others, allowing you to store coins from different networks and use more sophisticated security protocols.
However, most crypto wallets do not contain any of the actual crypto products; instead, they offer the interface through which you can access your crypto funds.
In the early days of cryptocurrencies, currency transmission was a tedious and time-consuming process that required the user to enter keys for a long time. Most of it is now done for you by software. One such software that we will review today is YouHodler, and our main focus is how to make profit during the crypto winter of 2022 with this high-quality multifunctional wallet.
Is YouHodler the best cryptocurrency wallet?
YouHodler is one of the most exciting crypto platforms globally; is a hybrid cryptocurrency that serves as an exchange and lending platform, and among other things, offers a cryptocurrency wallet.
YouHodler is one of the most sophisticated Bitcoin and cryptocurrency wallets currently available on the market. If you decide to be a YouHodler user, you can do anything from HODL to earn to convert to share to trade, all in one place.
YouHodler is a platform that allows you to borrow money against the value of your Bitcoins at a favorable interest rate. With a staking service, you can easily earn up to 365% annual return on your bitcoin investments (APR). Additionally, one of the most essential features of the multi-currency wallet is the ability to earn up to 8.32% APY on various stablecoins and 3% APR on your Bitcoin through built-in interest accounts within the wallet.
Ledger Vault’s crime insurance further enhances wallet security. To secure your money, the firm itself is located in Europe and Switzerland and therefore operates under European laws. YouHodler is extremely transparent with everything it does, so you can check out its detailed stats. here.
How to earn during the crypto winter with YouHodler?
There is no doubt that this year has been a difficult one for the cryptocurrency industry; we are currently in a bear market. However, experienced investors can still make money even in a market downturn.
During a bear market, the crypto market has lost more than 20% of its value throughout the current year to get to this point. Since the beginning of 2022, the value of Bitcoin and Ethereum has fallen by more than 20%, indicating that we have entered another bear market. The word “other” is on purpose as this is not the first time we have seen a market decline. However, YouHodler offers different ways to earn money during the crypto winter we are currently facing.
Let’s look at some of the best ways to be profitable during a bear market using YouHodler services:
- If you want to invest some of your fiat funds in cryptocurrencies, crypto winter is the best time to do it because the price of most cryptocurrencies is the lowest during this period. To purchase a number of cryptocurrencies, YouHodler allows you to deposit numerous fiat currencies (such as USD, EUR, GBP, and CHF) via bank transfer or credit card.
- Do you have some fiat money savings that you don’t plan to invest in cryptocurrencies? If yes, you can deposit it into a stablecoin savings account at YouHodler and protect it against continued inflation. Keep in mind that cryptocurrency markets that are in the red generally indicate that the world markets are also in the red, therefore it is imperative that we secure our fiat money. This is an excellent use case for stablecoins.
- Moving a smaller portion of your crypto funds into slightly riskier (but potentially profitable) trades is also a good idea. You can short the market quickly using YouHodler’s “Multiple HODLs” feature. The amazing thing is that YouHodler does not charge any placement fees or profit sharing here.
- With youHodler’s “Double Active” feature, you can earn constantly (every 12/24/48 hours) up to 365% APR. For those unfamiliar with the term, “Dual Asset” is a service that allows you to link two assets, a crypto asset and a stablecoin. As a result, investors and users who choose this type of service can benefit from a higher return on their investment by accurately projecting the future development potential of an asset.
- The combination of gold and crypto markets can also be profitable during a bear market. YouHodler offers crypto trading through its “Multi HODL” feature mentioned above. You can capitalize on market volatility with a multiplier from x2 to x50.
- have you heard of the term “Hibernation Loan”? It means getting a long-term loan that you don’t have to re-lend for a longer period of time. YouHodler offers a lending service where you can use more than 50 coins as collateral for crypto loans, which is quite a remarkable number. Additionally, YouHodler offers one of the highest LTV (loan-to-value) ratios in the crypto lending market; 90%.
Can I withdraw with YouHodler at any time?
One of the most exciting services that YouHodler offers is that no matter which of the above features you use, you can withdraw your funds at any time. In fact, YouHodler never blocks the funds of its users. For many crypto investors, YouHodler is a huge plus because you don’t have sales reps continually pressuring you to withdraw or trade more often.
Take a look at our detailed YouHodler review here.
Pros and Cons of YouHodler
- Simple design and suitable for beginners.
- Advanced features and services
- A variety of currencies are offered.
- Security is of a high level (Insurance against accounting crimes)
- great customer service
- regulated company
- Currently not available in the US and China
- Android app is buggy sometimes
Most crypto investors do not like bear markets as they tend to think that the chances of making a profit are limited during these tough times. However, when you look at it with a deeper analysis, is it really so?
The vocal point that we wanted to highlight today is that even during the most difficult times in the crypto market, such as the crypto winter we are facing now, you can make money and be profitable. YouHodler allows you to do this as it is a multifunctional and innovative cryptocurrency wallet that allows you to profit during a bear market with several advanced services; multi HODL, Daul Asset, (Hibernation) Loans, etc.
Finally, the wallet includes an exceptionally easy-to-use and powerful user interface. You can quickly and conveniently convert your cryptocurrency to fiat currency and vice versa.
Create an account on the YouHodler website to start using their excellent services This day.
Yes, you can definitely trust YouHodler! Cryptocurrency holders can make use of a variety of advantages on the YouHodler platform. Bitcoin holders who like to earn interest on their assets rather than sitting idle in their best crypto wallets will find this platform to be ideal.
YouHodler uses hot and cold storage to increase the security of user funds.
YouHodler was launched in November 2018.
Withdrawing money from YouHodler is an easy process and can be done at any time. Simply visit your Wallet page to withdraw cryptocurrencies. Click the “Withdraw” button after locating the cryptocurrency you wish to move.
Additionally, you can use a bank transfer to withdraw the borrowed fiat money from your YouHodler account by going to your Wallets and clicking the Withdraw button on the fiat wallet panel. In the Withdrawal Options form, select Bank Transfer.
Yes, YouHodler is a regulated crypto platform.
Yes, YouHodler requires identity verification if you wish to use its services. However, the process is simple.
For more details and regular updates, follow YouHodler on social media:
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All information contained on our website is published in good faith and for general information purposes only. Any action that the reader takes on the information found on our website is strictly at their own risk.