What You Should Know About Crypto Banks and Crypto Loans

0
18

There is no doubt that crypto coins are changing the conventional views about money and assets. Bitcoin set the pace for other crypto coins, and nowadays, more and more people are investing in crypto assets. Back in 2009, most money experts called Bitcoin a Ponzi scheme. At the time, Bitcoin’s value was at $1 USD. As of today, one Bitcoin is valued at $50,000 USD.

Today we even have a cryptocurrency bank that can offer you either crypto or fiat currency loans. If you’re planning to invest in crypto, there are plenty of benefits that you will enjoy. In this article, we will discuss how you can invest in crypto coins and also how you can get crypto backed loans.

Buying Crypto Coins

These days, buying crypto coins is much easier than it was ten years ago. There are plenty of crypto exchange platforms available as web and smartphone apps. Crypto exchange platforms are the easiest to use, especially if you’re a beginner. Before signing up, ensure that you check the transaction rates and the payment options supported.

Once you find a platform that fits your needs, you can go ahead and sign up. The sign-up process is quite simple, and it takes less than a minute to get your account up and running. Some platforms will ask you to verify your account before you can make any transaction. In such cases, you will need to upload a copy of your driver’s license or government-issued ID.

Next on, add your preferred mode of payment. You can purchase crypto directly from your bank account using your credit or debit card. However, make sure that you are using a USD or Euro account to avoid extra charges for currency conversion.

Let’s Talk About YouHodler

Storing your crypto waiting to make a profit during trades can be stressful at times. More often than not, people end up selling up their crypto assets during price dips. However, if you have a YouHodler account, you do not have any reason to sell your crypto even when the prices have dipped.

YouHodler offers more than just crypto exchange services. Besides requesting crypto backed loans, you can also earn free interest from your crypto services. YouHodler’s main goal is to help its users hold their crypto assets for as long as they can.

The platform offers free crypto in the form of interest earned from your crypto savings. This means that the bigger your stash is, the more interest you will earn. The free crypto is deposited into your account every end of the week.

Bottom Line

If you’re still iffy about investing in crypto, there is a lot you’re missing out on. Platforms such as YouHodler that offer cryptocurrency bank services ensure that you earn passive income all year round from your crypto savings. However, word of caution, the crypto market is quite volatile, and price dips occur often. Make sure you do research, join crypto forums online, and study as much as you can about crypto coins.