YouHodler Multi HODL Review

Multi HODL is a crypto lending tool that has grown in popularity. Users are interested to uncover what this service is, and how they can use it to their advantage. This Multi HODL review will demystify what this service is and how to use it.

What is Multi HODL?

Multi HODL is a unique user-friendly trading feature from the Switzerland-based CeDeFi platform YouHodler, targeted at traders who want to take profit from market volatility with minimal risks of losses. It is a crypto lending tool that enables clients to leverage their crypto deposits to take loans and predict price movement. It helps them to get the best out of their short or long position. Traders would be able to make a profit regardless of the market swing. It is also a multiplier tool for traders looking to grow their stablecoin savings up to 50 times the deposit.

YouHodler Multi HODL has no hidden charges nor prohibits lock trading. Executing trade is fast and withdrawal is instant. After the recent update, Multi HODL has become incredibly faster with the modified trading engine. Speaking of the update, YouHodler executive Anthony Cerullo said the new trading engine will expedite execution speed and solve any freezing issues when closing or opening positions. This means traders will have a relaxed mind when trading with the tool.

As a new user, you may ask, “is YouHodler legit?” As pinpointed, YouHodler is a crypto lending platform based in Switzerland and also in Cyprus. The platform is available to users worldwide except those in the United States and sanctioned countries like China, Afghanistan, Cuba, Germany, and Korea. Multi HODL and crypto savings are some of its popular products.

Although this isn’t a proper YouHodler review, it’s essential you have some background information about this lending platform, including its interest rate and staking methods.

More About YouHodler

YouHodler was launched in 2018 by the current CEO and co-founder Ilya Volkov, a member of the Crypto Valley Association. The platform has garnered hundreds of thousands of users since its launch due to its transparent business model, various supported coins, safety, and ease of use. Users hold an average of $5,866 on the platform.

Registering on the platform is easy peasy. You need your email address and must authenticate your identity and pass the KYC requirements before you can perform crypto or fiat transactions. The YouHodler signup bonus isn’t available.

Products of YouHodler

YouHodler provides an excellent avenue to earn interest in your crypto. Even though the crypto lending space is yet to be regulated, the platform ensures it plays by the book and protects users’ funds. The recent license approval to operate in Italy proves the platform is committed to its objectives.

Some of the products of YouHodler are;

• Crypto savings account
• Multi HODL
• Crypto loans
• DUAL
• Turbocharge

As mentioned, crypto savings accounts and Multi HODL are popular products on the platform. Having a crypto savings account allows you to earn interest on BTC, ETH, XRP, USDC, USDT, DAI, LTC, and EURS. YouHodler interest rates are some of the best in the industry. EURS, USDT, USDC, and DAI have the highest rates of 8% APY, while BTC has the lowest interest rate of about 3% APY. The rates change occasionally depending on market forces.

How YouHodler Makes Money

One common question users ask is how Youhodler manages to pay its users. The platform makes money in two ways – through fees and lending products. YouHodler charges users on deposits and withdrawals. Although the platform charges no fee on crypto deposits and withdrawals, Bank Wire deposits through SWIFT and credit card deposits attract some fees. Withdrawals through SWIFT also attract charges.

YouHodler also uses customers’ deposits to support the crypto lending product. Also called YouHodler staking, users’ deposits are used as part of the liquidity pool to offer collateralized loans. This model is transparent, as loans are backed by collateral. Compared to other lending platforms, YouHodler doesn’t speculate on users’ deposits. This makes it a much safer platform to earn.

How Multi HODL Works

Multi HODL is straightforward to use and has a simple working mechanism. To get started, follow the steps below;

1. Select a coin

Go to the menu and choose the cryptocurrency pair you want to trade. All the cryptocurrencies in the top 50 according to the market cap are available.

2. Choose your price movement

After choosing your crypto pair, set the price movement. Use the candlestick chart to check the short-term movement of the crypto to help you make a better decision. It will give you a better understanding of the current market volatility.

3. Use the multiplier to increase your funds for trading

It’s unwise to commit all your crypto assets. The Multi HODL is highly risky that could cause the total loss of your funds. Only commit a small amount and multiply. Know that the greater the leverage, the greater the risk.

4. Adjust the profit and risk levels

Set the profit and risk levels according to your preference. YouHodler enables you to adjust the levels at any time during the trade. Remember that the market is highly volatile – the longer your position remains open, the higher the risk of price swings. Try to minimize the risk by keeping the Take Profit amount as close as possible to the current price.

5. Close trades and take profit at any time.

Your position will be automatically closed should the price drop below your loss level. Remember to track your portfolio to get an overview of your current trades.

Note that with the multiplier, the value of your coin will multiply should there be a price growth. The profit will be automatically credited to your account. In case of price declines, you’ll get your initial deposit, excluding the loss.

Also, depositing crypto on the platform or using any product is risky. Counterparty risks are inevitable, meaning you lose the utility of the crypto once it has been deposited into your wallet for earning or lending. Besides, your data isn’t always 100% protected, although YouHodler is a member of the Blockchain Association.

Multi HODL Vs. Traditional Exchanges

Multi HODL is often likened to traditional exchanges but differs from the latter. Considering the demerits of trading on traditional crypto exchanges, such as complicated user interface and pricing spread, YouHodler’s Multi HODL came as a better option for traders with the above issues addressed. The trading service infused the structure of traditional crypto exchanges but offers a better trading convenience.

Pros and Cons

The table below pits Multi HODL against traditional exchanges, with the pros and cons examined.

Multi HODL Lock Strategy

Lock is a feature of Multi HODL that allows you to open multiple positions simultaneously. You can open a position that contradicts your earlier position to minimize potential losses. YouHodler charges an hourly rollover fee for this feature.

Multi HODL Alternatives

Nexo and Coinloan are other alternatives to Multi HODL. These lending platforms offer a variety of crypto products but have less attractive interest rates. Plus, they don’t care much about legal procedures, and withdrawals are sometimes slow. Nexo speculates with users’ deposits, which is a high-level risk.

Conclusion

Multi HODL is undoubtedly a unique feature that will benefit users. Being a product of YouHodler assures users their funds will be safeguarded. We hope this Multi HODL review has cleared your doubts about this trading tool and the YouHodler platform.