If you want to store your crypto somewhere, then you should look into finding an appropriate cryptocurrency wallet.
We call it a “wallet” since it is used for the same reason as a “regular” wallet. You may swiftly and securely store, transmit, and receive cryptocurrency with the wallet. Some of these wallets are more feature-rich than others, allowing you to store coins from different networks and utilizing more sophisticated security protocols.
However, most crypto wallets do not contain any of the actual crypto products; instead, they offer the interface via which you may access your crypto funds.
In the early days of cryptocurrencies, transmitting currency was a tedious and time-consuming process that required the user to input keys lengthy. Most of it is now done for you by software. One of those softwares we will look into today is YouHodler, with our main focus being how to earn profits during the crypto winter of 2022 with this high-quality multi-functional wallet.
Is YouHodler The Best Cryptocurrency Wallet?
YouHodler is one of the most exciting crypto platforms globally; it’s a hybrid crypto place that serves as an exchange and lending platform, and among other things, it offers a cryptocurrency wallet.
YouHodler is one of the most sophisticated cryptocurrency and Bitcoin 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 stake to trade, all in one spot.
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 may easily earn up to 365 % annual return on your bitcoin investments (APR). Moreover, one of the most essential features of the multi-coin wallet is the ability to earn up to 8.32 % APY on various stablecoins and 3 % APR on your Bitcoin through interest accounts incorporated within the wallet.
Ledger Vault crime insurance further enhances the wallet’s security. In order to secure your money, the firm itself is situated in Europe and Switzerland and, therefore, operates under European laws. YouHodler is extremely transparent with everything they do, so you can check their 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 crypto industry; we are currently in a bear market. Experienced investors, however, may 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 reach this point. Since the beginning of 2022, the value of both Bitcoin and Ethereum has dropped by over 20%, indicating that we have entered another bear market. The word “another” is on purpose, as this isn’t the first time we’ve seen a market crash. 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 how to be profitable during a bear market using YouHodler’s services:
- If you want to invest some of your fiat funds in cryptocurrencies, the crypto winter is the best time to do it because the price of most cryptocurrencies is at its lowest during this period. To buy a number of cryptocurrencies, YouHodler allows you to deposit numerous fiat currencies (such as USD, EUR, GBP, and CHF) by bank wire transfers or credit cards.
- Do you have some fiat money savings you do not plan to invest in crypto? If yes, then you can deposit it into a stablecoin savings account on YouHodler and protect it against ongoing inflation. Keep in mind that cryptocurrency markets that are in the red typically signal that world markets are also in the red, thus, it is imperative that we secure our fiat cash. This is an excellent use case for stablecoins.
- Moving a smaller part of your crypto funds into a bit riskier (but potentially profitable) trades is also a good idea. You can short on the market quickly using YouHodler’s “Multi HODL” feature. What’s amazing is that YouHodler does not charge any placement or profit share fees here.
- With YouHodler’s “Dual Asset” feature, you can constantly earn (every 12/24/48 hours) up to 365% APR. For those not familiar with the term, “Dual Asset” is a service that allows you to link two assets, one crypto asset and one 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 an asset’s future development potential.
Combining gold and crypto markets can also be profitable during a bear market. YouHodler offers trading crypto via their above-mentioned “Multi HODL” feature. You can capitalize on market volatility with a multiplier from x2 to x50.
Have you heard of the term “Hibernation loan”? It means to get a long-term loan that you do not have to loan back for a longer period of time. YouHodler offers a loan service where you can use more than 50 coins as collateral for crypto loans which is a pretty remarkable number. Additionally, YouHodler offers one of the highest LTVs (Loan-to-value) ratios in the crypto loan market; 90%.
Can I Withdraw With YouHodler Anytime?
One of the most exciting services offered by YouHodler is that no matter which one of the above-mentioned features you use, you can withdraw your funds anytime. In fact, YouHodler never locks funds of their users. For many crypto investors, YouHodler is a big bonus because it doesn’t have sales reps that continually pressure you to withdraw or trade more frequently.
Have a look at our detailed YouHodler review here.
YouHodler’s Pros and Cons
- Simple design and beginner-friendly
- Advanced features and services
- A variety of coins offered
- The security is at a high-level (Ledger Crime Insurance)
- Great customer support
- Regulated company
- Currently not available in the US and China
- The Android app is buggy at times
Most crypto investors do not like bear markets since they tend to think the possibilities of making profits are limited during these difficult times. However, when you look at it with a deeper analysis, is that really the case?
The vocal point we wanted to highlight today is that even during the hardest times in the crypto market, such as the crypto winter we are facing now, you can earn money and be profitable. YouHodler allows you to do so since this is a multi-functional and innovative cryptocurrency wallet that allows you to make profits during a bear market with various advanced services; multi HODL, Daul Asset, (Hibernation) Loans, etc.
Finally, the wallet includes an exceptionally user-friendly and powerful user interface. You may quickly and conveniently convert your cryptocurrency into fiat currency and vice versa.
Create an account on YouHodler’s website to start using their excellent services today.
Frequently Asked Questions
Can I trust YouHodler?
Yes, you can definitely trust YouHodler! Cryptocurrency holders may make use of a variety of advantages on the YouHodler platform. Holders of bitcoin who like to earn interest on their assets rather than leave them idle in their best crypto wallets will find this platform to be ideal.
Is YouHodler a cold wallet?
YouHodler uses both hot and cold storage to increase the security of users’ funds.
How long has YouHodler been around?
YouHodler was launched in November 2018.
How do I withdraw money from YouHodler?
Withdrawing money from YouHodler is an easy process and can be done anytime. Simply visit your Wallet page to withdraw cryptocurrency. Click the “Withdraw” button after locating the cryptocurrency you wish to move.
Additionally, you may use a bank wire 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. On the Withdrawal options form, choose Bank Wire.
Is YouHodler regulated?
Yes, YouHodler is a regulated crypto platform.
Does YouHodler require KYC?
Yes, YouHodler does require identity verification if you want to use their services. However, the process is straightforward.
For more details and regular updates, follow YouHodler on social media: