According to famed investor Warren Buffett, Bitcoin is “a gambling device” with no real value. Speaking to a group of reporters, Buffett explained, “It doesn’t do anything. It just sits there.”
The reality regarding crypto is much different: you can earn interest on cryptocurrency, just like you can with fiat, and you can also take out valuable crypto-backed loans.
But when you’re comparing fintech platforms like YouHodler vs. Crypto.com to use, which one should you choose?
Cryptocurrency is far from being a meaningless asset that doesn’t produce value. By lending out crypto or holding it in a savings account, you can earn passive income from your coins—not unlike earning dividends from stocks.
However, you must choose a platform to invest your crypto with. Two of the most popular crypto platforms are YouHodler and Crypto.com. This guide will help you choose one that meets your needs.
YouHodler vs. Crypto.com
When you first look into YouHodler and Crypto.com, they may seem like very similar products. However, upon digging deeper, you’ll soon notice that they’re very different from one another.
Put simply, Crypto.com is a cryptocurrency exchange and payment platform with a wide range of individual products. In addition to savings accounts for digital assets, Crypto.com also offers crypto credit with a free Visa card.
On the other hand, YouHodler is a very unique platform designed to address the previously unmet needs of crypto users. It provides high-yield savings accounts and innovative investor tools to help users make the most of their crypto.
We’ll go into more detail below, so keep reading to learn more about these innovative platforms.
YouHodler Core Features
YouHodler focuses mainly on providing crypto-backed loans in crypto, stablecoins, and fiat currencies. It supports the top 15 cryptocurrencies, in addition to fiat currencies like USD and EUR, with seamless universal conversion between all of them.
This versatility truly sets YouHodler apart from alternative platforms, but it’s just the beginning.
YouHodler users’ digital assets are safely guarded with Ledger Vault advanced security. Fiat funds are stored in reputable banks in Europe and Switzerland.
YouHodler is also an active member of the Crypto Valley Association, as well as the Blockchain Association of the Financial Commission. These impressive features make YouHodler an attractive option for investors concerned about security.
Crypto.com Core Features
Crypto.com offers a wide range of services that seek to push cryptocurrencies into mainstream use. As such, they place a noticeable emphasis on usability and convenience.
The Crypto.com lineup consists of a crypto exchange, a 5% cash back Visa card, crypto savings accounts, and a digital crypto wallet. Crypto.com also hosts two cryptocurrency tokens of their own: CRO and MCO.
While YouHodler offers traditional-style crypto loans, Crypto.com offers more user-friendly credit through their Visa card. However, to get the most out of their services and features, users must use the Crypto.com app, and they need to be investing in CRO and MCO tokens.
YouHodler: Services and Features Breakdown
Besides their generous interest rates on savings accounts, the most interesting thing about YouHodler is their unique features. These include Multi HODL, an automated margin trading tool, and Turbocharge, a similar feature with less flexibility.
Learn all about YouHodler’s features in detail below.
Probably the most attractive feature to new crypto investors, YouHodler’s savings accounts are among the best in the industry.
With digital asset savings account from YouHodler, you can earn interest in both crypto and stablecoins. Compounding interest rates get as high as 12% APY. Interest payouts take place every single week, so you don’t have to wait long for your money.
Best of all, you can continue using your crypto for other features on the platform while your assets earn interest.
Using any of the 15 supported tokens as collateral, you can take out an instant loan in either fiat, crypto, or stablecoins. Three different loan plans, each with flexible management options, meaning there’s a loan opportunity to meet anyone’s needs.
YouHodler provides the highest loan to value ratio in the entire fintech industry at 90%. Loan fees are very reasonable, ranging from just 1% to 7%.
Of course, no crypto platform would be complete without some ability to convert one currency into another. But YouHodler’s currency converter takes this ability to the next level in terms of flexibility.
YouHodler offers universal conversion services between every crypto, fiat, and stablecoin currency on the platform.
Now we come to the more unique features that YouHodler offers, starting with Multi HODL.
An innovative and completely original tool, Multi HODL allows users to take out a “chain of loans” which they can use to either buy or sell more crypto, depending on their chosen market direction at the time.
Combined with their high-yield savings accounts, Multi HODL allows users to earn interest on an indefinite amount of currency. This creates something YouHodler calls “Limitless Savings Accounts.”
The last major feature on our list, Turbocharge is another original tool offered by YouHodler.
Turbocharge is similar to Multi HODL, but it’s less flexible in terms of usable options. Like Multi HODL, Turbocharge lets users take out chains of loans to buy more crypto and increase their portfolio. It works using just a small amount of collateral at the beginning.
Crypto.com: Services and Features Breakdown
Compared to YouHodler, Crypto.com may be more flashy with its features and branding, but it might not be ideal for serious investors. However, it’s great for those who are new to cryptocurrency and looking for a range of convenient services in one package.
Keep reading to learn about each of Crypto.com’s features in detail.
Most likely the first feature you’ll run into, the Crypto.com exchange is powered by their own CRO token. As far as crypto exchanges go, it’s competent and full-featured, in spite of being relatively new. It offers a decent selection of coins and tokens, including Bitcoin and Ethereum.
Like all exchanges, Crypto.com applies fees on transactions. But you can get a discount on these fees by paying them in CRO. It’s also worth noting that you must use the Crypto.com app to take advantage of all exchange features.
Like YouHodler, Crypto.com offers fairly flexible savings accounts with decent interest rates.
On cryptos like Bitcoin, users can earn interest rates as high as 8% P.A. On stablecoins like USDT, you can earn interest as high as 12% P.A.
The Crypto.com app is the foundation of its entire ecosystem. Although their website has decent functionality, you’ll need to download the Android or iOS app to get the full experience.
Besides using the full-featured exchange, app users can also receive additional in-app benefits by staking Crypto.com’s MCO token. These benefits include things like higher returns and rewards for holders of their Visa card, helping you earn and save money.
The Crypto.com wallet comes in the form of a smartphone app, which is separate from the main app and exchange platform.
It’s a non-custodial wallet, which means you get to take full control of your private keys. However, that also means you can’t access other Crypto.com services through the app.
To transfer funds to your wallet, you must manually link the wallet app to your Crypto.com account.
Pre-Paid Visa Card
If Multi HODL and Turbocharge are YouHodler’s unique features, then the crypto-backed pre-paid Visa card is the unique selling point for Crypto.com.
The attractive metal card makes it easy and exciting to spend cryptocurrency at venues in the real world. When you add crypto onto the card, the funds are converted to USD at current market rates, all without fees. The card can then be used anywhere Visa is accepted.
As a cardholder, you’re entitled to certain rewards, including MCO cashback rewards. However, the number of rewards available to you will depend on how much MCO you stake.
Like YouHodler, Crypto.com offers loans in the form of crypto credit. It works similarly to YouHodler, however, in that you deposit cryptocurrency as collateral in exchange for instant credit.
Credit is transferred directly to your crypto wallet. If you stake CRO, your interest rate will be lower the more CRO you stake.
Pros and cons of Youhodler
- 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
- 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
Pros and cons of Crypto.com
- Is a complete crypto platform
- Offers frequent promotions
- Permits you to earn returns on your deposits
- Includes a high-speed exchange with competitive fees
- Offers a crypto-backed rewards card
- High-speed exchange with competitive fees
- Having to stake CRO or MCO to get the most out of your MCO rewards
- A general lack of transparency regarding where funds come from
- A confusing two token system (e.g., CRO and MCO)
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.
Crypto.com: Frequently Asked Questions (FAQs)
Now that you've got a much better concept of what you'll get with Crypto.com, let's take a look at some of the platform's most frequently asked questions (FAQs). These common customer inquiries will provide you with insights into everyday aspects of using the app, card, and more.
Which Cryptocurrencies Are Accepted by Crypto Pay?
At the moment, you only have one option when it comes to Crypto Pay. The platform currently only accepts Crypto.co Coin (CRO).
What Should You Know About Crypto.com DeFi Swap Fees?
Crypto.com's DeFi swap permits users to connect their personal Ethereum wallet for effortless and streamlined ERC-20 token swaps, unlike the app or exchange.
Generally, you'll get charged 0.3 percent fees to liquidity providers for token swapping fees. These fees support the run of smart contracts.
To get started, connect your Defi Swap with your Crypto.com Defi Wallet. When transferring crypto in the Ethereum network, you must pay gas fees.
Choose between average, fast, and super transaction confirmation speeds. Remember that average and super-fast speeds respectively represent low and very high transaction fees.
Which Wallets Are Compatible With Crypto Pay?
You've got incredible flexibility when it comes to Crypto.com. You may use any wallet that both holds and sends Crypto.com Coin (CRO) with Crypto Pay.
YouHodler vs. Crypto.com: Making Your Decision
Wherever you are on your crypto investment journey, Bitcompare has the information and resources you need to make smart decisions. From crypto brokers to credit cards, stay subscribed to Bitcompare’s blog to stay up-to-date on all things crypto.