How Does It Work?
The YouToken platform allows one to borrow fiat funds instantly, based on the current value of one’s cryptocurrency asset holdings:
• A user requests a loan, using his/her crypto asset as collateral.
• In return, the user instantly receives an agreed loan amount in fiat (USD, EUR).
• After repaying the loan, the user gets his/her collateral back, even if it has increased in value.
YouToken’s loan service works like a pawnshop. There is the sale of the cryptocurrency (YOU are the seller) which YouToken purchases. Following a pre-defined period of time, you re-purchase the cryptocurrency from YouToken.
YouToken is a Blockchain-based Financial Ecosystem focused on cryptocurrency-backed lending with fiat loans. YouToken lending platform provides USD and/or EUR loans, secured by collateral in BTC, ETH, XRP, and other popular cryptocurrencies.
What problem does YouToken Loan Service solve?
YouToken has an innovative concept that allows users to hold onto their cryptocurrencies while spending on necessary purchases at the same time. As spending crypto assets today prevents cryptocurrency holders from gaining from any future growth in asset value, investors who buy low need to hold onto their assets in order to benefit from selling high. It’s a market where everyone is conditioned to HODL.
- Bank accounts at Switzerland
- Partnerships with trusted fiat payment providers
- Our own secure wallet system
- Integration with leading crypto exchanges
- Our extensive expertise in currency exchange rate risk management
Who might benefit from the service?
- Crypto holders, traders, and investors.
- Blockchain companies.
How Much Cash Can I Get?
You can get up to $10,000 in cash automatically. Larger amounts of money can be lent on an individual basis.
What Loan Terms Are Available?
There are 3 different types of loan terms: 30-day, 60-day, and 90-day. Our interest rate varies from 5% to 30% (depends on the terms of your loan). Loan-to-value ratio varies from 40% to 70% (depends on the terms of your loan).
How Do I Pay Off My Loan in Fiat (USD, EUR, etc.)?
On a monthly basis, we plan for members to set up a direct withdrawal from their bank accounts.
Why Does The Interest Rate Vary on Loans?
The more members we have, the more we can lend. This will give us the ability to offer better rates to everyone. Our goal is to grow the community of borrowers and lenders so we will be offering incentives for people who join the network early, who refer additional people, etc. Basically the more the merrier, and less expensive – so tell your friends!
Can I Get Better Interest Rate With More Collateral?
No, the interest rates will not be determined by the amount of your collateral. We believe everyone should be offered the same rates regardless of how much money or crypto they have. The current financial system is unfairly biased towards people with more – more assets, more connections, more access. We want to change that.