Last Updated on Jun 16, 2021 at 2:59 PM
New stablecoins are coming up every day. This is due to the growing popularity of this asset class, which provides a suitable alternative to traditional cryptocurrencies. There are currently 66 stablecoins, led by USDT, which was the first to be created. While stablecoins are mostly used for payments because of their relative price stability, owners can do more with these assets.
Recently, crypto startups have provided a way to earn interest on stablecoins. One of the leading startups that offer this service is YouHodler. The company gives the highest interest of up to 12% on stablecoins savings on their platform. This is much higher than the interest paid by any bank on such an investment.
Stablecoins supported by YouHodler include USDT, HUSD, USDC, TUSD, BUSD, and several others. The advantage of these savings is that, in addition to earning interest, there is no risk whatsoever because the funds are securely kept in a Ledger Vault, which is safer than when they are even in a personal wallet.
Funds stored using the Ledger Vault technology enjoy the Ledger Vault’s pooled customized crime insurance program insuring crypto-assets for up to $150 million. The insurance covers customers’ funds in the event of collusion between employees and in the case of a security breach of the system.
While the funds are saved in a Ledger Vault, there is no risk of hacking, as the cold wallet is offline. Moreover, the risk of losing funds because of the loss of the wallet’s private key is also greatly minimized, as keys are distributed among several parties. Funds can be easily accessed at any time, and YouHodler can independently recover funds without having to depend on Ledger.
Customers can also decide to further secure their accounts by using 2-Factor Authentication (2FA). This deactivates withdrawals from the account and makes it impossible for any unauthorized person to withdraw from such an account. Not even YouHodler can make this withdrawal. The account holder can apply for withdrawals to be reactivated with further identity verification. This ensures maximum security of funds.
YouHodler is governed by the laws of the EU. This means that the company is bound by law to return customers’ funds and is obligated to ensure the safety of such funds. It is worth noting that the key to the success of the company is its reputation, which it jealously guards by ensuring that customers enjoy the best possible service delivery.
By saving stablecoins with YouHodler, users can be sure that the value of the funds is not affected by market volatility. For example, the recent market dip, which the cryptocurrency market is yet to recover from, has not affected stablecoins because they are pegged to a more stable fiat currency, such as USD. Customers can, therefore, expect to earn only interest and not lose funds, no matter which direction the market is heading.
You can sign up today and start earning high interest on stablecoins savings and enjoy great loans from YouHodler.
To find more info about Youhodler platform, check our full review.
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