Bitcoin and other crypto coins have revolutionized how people use and invest their money. At the start, most people thought that crypto coins were a scam. However, the success of Bitcoin has led to the development of other crypto coins and blockchain technologies.
If you’ve been around crypto, you have probably heard about bitcoin loans. Most crypto investors are not aware of the number of benefits they can acquire from their cryptocurrencies. In this guide, we will share tips on how you can leverage your crypto assets.
Purchasing Your First Crypto Coins
Buying crypto coins is very easy. In fact, if you have a mobile phone or laptop and internet connection, you’re good to go. There are plenty of crypto exchange platforms where you can purchase crypto coins. Go ahead and sign up for an account.
After signing up for an account, the next bit of business is verifying your account. This is a simple process as you will only need to upload a copy of your ID or driver’s license. After that, you can add your preferred mode of payment. Most crypto exchange platforms allow users to buy crypto directly from their bank accounts using their credit or debit cards.
Acquiring Crypto Loans
YouHodler is a crypto service provider that allows users to open pro-savings accounts and earn interest from their crypto assets. Ideally, YouHodler helps crypto investors hold on to their assets for a long period without selling. Most crypto investors, especially newbies, grow cold feet whenever prices start dipping.
YouHodler offers a variety of services. You can earn free interest from your savings or get a bitcoin loan. Larger savings will ensure that you are eligible for bigger loans. Keep in mind that you can apply for either crypto loans or fiat loans. After successful approval, the crypto coins are deposited directly into your wallet.
The loan is secured using your crypto savings. You can choose to borrow btc or fiat currency. One great thing about this loan service is that the interest rates are cheaper than what most banks offer. You can use the crypto coins to purchase or trade for more valuable coins. If you’re in dire need of quick cash, you don’t need to sell your crypto coins. Instead, apply for a crypto-backed fiat loan.
Bottom Line
Investing in crypto opens up quite a number of possibilities. Crypto coins have plenty of benefits over fiat currencies. They are globally accepted, meaning that the user isn’t charged any transfer or exchange fees. The transfer fees are also quite cheap as compared to when you send fiat currencies.
Crypto coins are also decentralized, meaning that no one monitors your daily transactions. In addition, crypto coins are not controlled by any government or banking institution.
There are plenty of crypto exchange platforms that offer bitcoin loans. However, you need to ensure that you review the loan’s terms and conditions. If you’re new to crypto, you should join online crypto forums where you can interact with more experienced crypto heads.
