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Ledn vs Youhodler: The Pros, Cons and How they Compare | Bitcompare

Youhodler and Ledn are leading crypto lending and borrowing platforms that compete to give you the best rates. We break them down to see which is better.


  • Features
  • Ease of use
  • Security
  • Support
  • Reputation
  • Fees
  • Overall
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  • 4
  • 4
  • 4
  • 4
  • 4
  • 3.83
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  • 5
  • 4
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  • 4
  • 3
  • 3
  • 3.83
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Pros and cons of Ledn

Pros

  • No "utility" tokens
  • Bitcoin focused company
  • Cold-storage and proof-of-reserves
  • No monetization of users' data
  • Two-factor authentication
  • Data stored on private networks blocked from public IPs
  • Bitcoin offered through BitGo Custody
  • Minimal personal information requirements to open an account
  • In-house KYC and AML verification
  • No penalty fees for deposits and withdrawals

Cons

  • New company, two years old as of August 2020
  • Limited choices, offers a standard loan plan
  • No mobile app, only accessible in a web browser
  • Not available to individuals sanctioned by Canada
  • Not open to residents of New York, Connecticut, Washington, and Wyoming

Pros and cons of Youhodler

Pros

  • High interest rates of up to 12% compounding
  • Supports top 15 cryptocurrencies
  • You can pay, store and exchange on the platform
  • Instant credit card and bank withdrawals
  • Minimum loans start at just $100
  • The highest loan to value ratio in the industry (90 percent)
  • Instant loans without any credit checks
  • No need to stake native tokens to get higher interest rates on savings accounts
  • A constantly growing list of collateral options (currently more than 20)
  • Four fiat currency options (USD, EUR, GBP, CHF)
  • Unlimited loan terms
  • Weekly interest payouts
  • The option to receive loans in Bitcoin (BTC)
  • $150 million pooled crime insurance from Ledger Vault
  • Creative tools like Multi HODL that help users profit in both bull and bear markets
  • Web, iOS and Android apps
  • 24/7 customer support with live agents

Cons

  • The platform isn't available in China or the United States
  • Individuals using the platform are also subject to higher fees on loans than you'll find with other options such as BlockFi
  • Lack of an insured custodian for user funds
  • Many Android users also complain that the app comes with plenty of bigs and glitches
  • High interest rates on long term loans
  • Reliance on a small self-established insurance fund
Promoted

Risk-free and high-yield tool to store your coins

  • Earn up to 12% APR on EURS, USDT, ETH, XRP, and 20+ more coins
  • Weekly compound interest payouts
  • Universal conversion between all crypto, fiat, and stablecoins
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12 / 365
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APY: 12%

    Frequently asked questions about Ledn

    We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

    What Services Does Ledn Offer?

    When you open a Ledn account, you gain access to a suite of products, permitting you to take the greatest advantage of your digital assets. The platform's savings products provide customers with extra yield. 

    Ledn's credit products permit customers to HODL their Bitcoin while still accessing dollars to purchase more crypto holdings.

    How Does Ledn Wallet Work?

    Ledn Wallet is a segregated wallet address for on-chain, real-time verification, or proof-of-reserves. Ledn offers insurance on user's assets through BitGo Insured Custody. As a result, you can rest assured your assets are safe with Ledn.

    How Secure Is Ledn?

    What about security? The website relies on multiple layers of protection to keep its users safe.

    These include the use of passwords and HTTPS. All data deemed sensitive is encrypted with AES-256 and controlled by a set of strict internal security policies. 

    What's more, the platform requires additional two-factor authentication and login actions to verify users' authenticity. Ledn keeps collateral Bitcoin in cold storage offline in vaults rated institutional-grade. These are located throughout Canada.

    What Steps Does Ledn Take to Protect User Privacy?

    Ledn doesn't monetize or sell any of its customer data to third parties, which is a significant relief for those using this platform. This approach to privacy means a reduced risk of data breaches, which is fantastic, no matter how you slice it.

    What data does Ledn require from users? Only what's needed to meet compliance requirements. That said, the company never overreaches beyond requests for absolutely necessary information.

    Can I Withdraw Assets at Any Time?

    With a Ledn Savings Account, you can withdraw funds without any penalties at any time. You may also pay off your loan without any early payment penalties. 

    Withdrawal requests get processed quickly, and the platform strives to have your Bitcoin in your wallet within 24 to 72 hours.

    How Does Ledn Store User Data?

    They store this data on private networks, blocked from public IPs. You may also request that Ledn delete this data at any time, making it an excellent option from a privacy standpoint.

    Frequently asked questions about Youhodler

    We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

    Where is YouHodler based?

    YouHodler are based in Cyprus and have operations in Switzerland. Their Cyprus address is: Arch Makariou III, 172, Melford Tower, 3027 Limassol, Cyprus

    Can YouHodler be trusted?

    YouHodler is a real company, paying real interest, however, like all companies on this platform, we do recommend to always do your own research and only invest what you’re comfortable with. It’s also worth researching things like their LTV to determine how much loan risk they are exposed to when deciding which company to deposit your funds with or when taking a loan.

    What products does YouHodler offer?

    When you create an account with YouHodler, you gain access to two core products and two supplemental products. The core products are crypto savings accounts and crypto loans.

    The supplemental products include Multi-Hodl and Turbocharge. Get more details about the platform's products and what they can do for you.

    Who should consider using Youhodler?

    The YouHodler platform delivers a well-rounded experience to customers. That means you'll find everything you could want as a crypto investor and owner in one spot. 

    If you're looking for one place where you can handle all of your financial services, YouHodler offers solutions with its digital assets.

    How does the Youhodler wallet work?

    Designed for efficiency and simplicity, the YouHodler wallet lets you transfer your cryptos. You can also convert digital assets to fiat currencies and hold funds for investment. In terms of options, YouHodler offers wallet designs exclusively for Bitcoin and 14 other popular cryptos. 

    Your YouHodler Wallet is where you'll manage a variety of features offered by the platform. You can keep track of everything from earnings to account balances here. The platform maintains partnerships with a handful of institutions to facilitate the HODLing of fiat currencies securely and safely. 

    Through your YouHodler wallet, you can manage your investments, opening savings accounts, and loan applications and accounts.

    Why apply for a loan through Youhodler?

    What's one of the things that customers find most unique about YouHodler? Its ability to provide customers with loans. Consider these loans as a means of hedge financing. These loans also provide you with flexibility when it comes to accessing crypto trading markets. 

    A crypto-backed loan through YouHodler also gives you access to fiat currency while still HODLing your crypto assets. It reduces the risk accompanying investment choices and provides you with more overall flexibility as an investor.