Multi Hold Review
YouHodler MultiHODL Review
YouHodler is the only company that provides this innovative cryptocurrency lending service known as Multi HODL. Because of this function, you will be able to engage in margin trading in the cryptocurrency market. In this review of the YouHodler Multi HODL, we will discuss the functionality of the tool and share our own experiences with using it.
YouHodler is a cryptocurrency loan platform that operates out of both Switzerland and Cyprus. The platform is accessible all around the world with the exception of the United States of America and the countries that have been sanctioned. YouHodler’s crypto savings account, which allows you to earn interest on your cryptocurrency deposits and is the company’s most popular product, is one of the reasons the company is so successful.
Multi HODL Explained
You are able to leverage your cryptocurrency deposits through the use of a feature called Multi HODL, which enables you to place a wager on the price movement of a certain cryptocurrency pair.
1. Pick Out Your Musical Instrument
In order to get started with your Multi HODL trade, you will first need to go to the section of your menu that is specifically designated for Multi HODL and then choose the currency pair that you want to be trading.
You have access to a wide range of cryptocurrency options, including ETH, BTC, ADA, XRP, DASH, LINK, and LTC, amongst many more.
2. Movement Based on Choosing Your Own Price
After you have decided the cryptocurrency pair you wish to trade, it is time to evaluate whether you believe the price will move up or down in the near future.
A more pertinent chart that will show you the short-term price movement of the cryptocurrency that you are about to trade can be reviewed with the help of the candlestick chart, which you may use to do so.
3. Explain What Each Term Means
You will have the opportunity to look at the chart in greater detail as well as specify some additional terms in the following section. Put up the candlestick chart, and take a look at the price action at the 1-minute, 5-minute, and 15-minute marks.
Make a decision about the origin of your deposit. You are not required to utilize the same cryptocurrency that you are trading, but you are required to use the assets that you deposited into your account as collateral for your deal.
Select a quantity that is proportionately low compared to the total sum that you are willing to commit to the trade, and then alter the multiplier.
You have the ability to multiply whatever funds you pledge anywhere from two times to fifty times. Keep in mind that the risk level will increase in direct proportion to the leverage. When the multiplier is moved to the right, the spread that exists between the current price and the Margin Call will become less. Bear in mind this fact in light of the extreme volatility of the bitcoin market.
4. Make any adjustments to the take profit and margin call.
Expand the section labeled “Adjust TP & MC” if you want to make alterations to the parameters that are preset. Examine the chart that is displayed on the screen, and in order to reduce the amount of risk you are exposed to, attempt to set the Take Profit amount so that it is relatively close to the current price.
5. Make Sure You Read and Agree to the T&C
You should read the terms of the deal, then click the start button after you have confirmed that you agree to the terms.
6. Keep an Eye on Your Portfolio
When you are in the Multi HODL section, clicking on the portfolio tab will allow you to examine the open positions that you currently have. You will obtain a high-level summary of the most essential KPIs, such as whether or not you are currently making a profit.
You gain access to the chart as well as some extra information when you select the open deal. This additional information may include the rollover cost or the total amount of leveraged collateral. Additionally, the legally binding agreement pertaining to this business transaction will be delivered to your inbox and can be perused by you at your leisure.
YouHodler gives you the ability to change the values of the Take Profit and Margin Call at any point throughout the deal, which is quite helpful if you don’t want to spend the entire day monitoring how your deal is doing.
You should keep in mind that when you use MultiHODL, you are not committing to the deal for any particular amount of time. In point of fact, you are free to close it whenever you like up until the point where the price reaches either the Margin Call or the Take Profit levels.
The products produced by YouHodler
YouHodler gives you a great opportunity to earn income on your cryptocurrency holdings. Even though crypto lending has not yet been regulated, the site makes sure it follows the rules and safeguards its users’ money by doing everything by the book. The platform has shown that it is devoted to achieving its goals by recently receiving licensing approval to operate in Italy.
YouHodler offers a variety of goods, including the following: a crypto savings account; a multi-HODL; crypto loans; DUAL; and Turbocharge.
As was previously noted, two of the most popular products offered by the platform are cryptocurrency savings accounts and multi-HODL. You can accumulate BTC, ETH, XRP, USDC, USDT, DAI, LTC, and EURS in a crypto savings account, which will allow you to earn income on these cryptocurrencies. YouHodler offers some of the most competitive interest rates on the market today. The greatest interest rates offered by EURS, USDT, USDC, and DAI are 8% APY, while the lowest interest rate offered by BTC is approximately 3% APY. The prices are subject to sporadic revisions in response to shifts in market conditions.
How to Make Money Using YouHodler
How Youhodler is able to compensate its customers is a subject that is frequently asked by its consumers. Fees charged to users and interest earned on loans both contribute to the platform’s revenue. Both deposits and withdrawals are subject to fees when using YouHodler. The platform does not charge any fees for cryptocurrency deposits or withdrawals; nevertheless, there are fees associated with deposits made via bank wire through SWIFT and credit card deposits. Withdrawals made using SWIFT are subject to fees as well.
YouHodler makes advantage of the deposits made by consumers in order to fund its cryptocurrency lending services. Users’ deposits are used as part of the liquidity pool in order to make collateralized loans. This practice is also known as “YouHodler staking.” Because loans under this approach are secured by collateral, it is easy to understand. When compared to other online lending services, YouHodler does not engage in any type of speculation on the deposits made by its users. Because of this, it is a far more secure platform to earn money on.
How the Multi-HODL System Operates
Multi HODL is easy to use and has a straightforward logic that underpins its operation. Follow the steps that are listed below to get started;
1. Choose a coin to use.
You will need to navigate to the menu in order to select the cryptocurrency pair you wish to trade. There is access to every single one of the top 50 cryptocurrencies when ranked by market capitalization.
2. Select the price movement you want.
Following the selection of your cryptocurrency pair, go to setting the price movement. In order to assist you in making a more informed decision, you should evaluate the short-term movement of the cryptocurrency using the candlestick chart. It will help you gain a deeper comprehension of the volatility that the market is experiencing right now.
3. Increase your available funds for trading by making use of the multiplier.
It is not a good idea to put all of your cryptocurrency holdings into one wallet. The Multi HODL strategy is extremely high-risk and might result in the complete depletion of your assets. You should just invest a tiny amount, and then multiply it. Keep in mind that the bigger the leverage, the higher the associated risk.
4. Modify the ratio between the profit and the risk.
Adjust the levels of profit and risk so that they correspond with your preferences. YouHodler gives you the ability to make changes to the levels at any point throughout the deal. Keep in mind that the market is extremely unpredictable, and the longer your position is open, the greater the chance of price swings. You can reduce the amount of risk you are exposed to by having the Take Profit amount be as close as it can get to the present price.
5. You are free to take a profit at any time and close off open trades.
In the event that the price falls below your predetermined loss level, your trade will be automatically closed. Keep in mind that you should track your portfolio so that you can get an overall picture of your current deals.
Take note that the value of your coin will multiply if there is a rise in the price of the cryptocurrency while the multiplier is in effect. The profit will be added to your account without any more action required on your part. In the event that the price falls, you will have your initial money returned to you, minus the loss.
Additionally, there is a risk involved with utilizing any product, including depositing cryptocurrency on the platform. It is impossible to avoid counterparty risks, which means that you will no longer be able to use the cryptocurrency after it has been transferred into your wallet and used for earning or lending. In addition, despite YouHodler’s membership in the Blockchain Association, the security of your data is not always guaranteed to be one hundred percent.
Lock Strategy for Multiple HODL Positions
You can open numerous places at the same time if you use the Multi HODL tool, which is another function of the program. If you see that the price is moving in the other direction of your Take Profit value, you will have the ability to open a trade in the opposite direction thanks to this feature.
This approach, known as “lock trading,” can be utilized to cut down on financial losses.
Be aware, however, that owing to the volatile nature of the cryptocurrency market, it is impossible to forecast how prices will develop in the future. When you open numerous positions, not only are you committing more dollars to the transaction, but also YouHodler is charging you an hourly rollover fee. This might potentially increase your risk.
Main Takeaways
Regardless of whether you choose to experiment with Multi HODL on your own or steer clear of it altogether, there are a few things about it that you need to be aware of first.
The cryptocurrency market is highly volatile, which means that it is impossible to predict the price movement within a short period of time. The more leverage you use, the higher the risk that you will lose your position in the market. The risk-to-reward ratio is not good because there is not enough information available. Margin trading is not suitable for investors who are not ready to commit their time to monitor the price of a dedicated cryptocurrency.
• The crypto market is highly volatile, which means that it is impossible to predict the price movement within a
You should always check the Take Profit and Margin Call values, and make any necessary adjustments.
The rules of YouHodler are quite open and easy to understand; yet, there is a possibility that you will lose all of the monies that you have pledged.
YouHodler will never lose because the platform will charge them a rollover fee regardless of how the price of the cryptocurrency fluctuates.
YouHodler has a very excellent revenue source in the form of the Multi HODL tool, which reduces the possibility that the site is engaging in questionable business activities. All YouHODLERs who have only ever deposited their cryptocurrencies with the intention of earning a yield on them can rejoice at this development.
How do you use the YouHodler MultiHODL platform?
The question now is, how exactly can you make money using the YouHodler MultiHODL feature? See the list broken down into steps below. You are able to complete each step by looking at the screenshot below.
1. Create an account with YouHodler and then log in.
2. Go to Multi HODL
3. Determine the trading pair of cryptocurrencies you will be trading.
4. Determine whether you want to take a long or a short route.
5. Define the source of the funds. Which digital money you’d like to put up as collateral.
6. Determine the total quantity of the coin you selected in step 5.
7. Adjust the multiplier so that it is comparable to leverage
After this, you will have the ability to make adjustments to the take profit (TP) and margin call (MC). YouHodler will provide a price, and the price of the take profit must be either lower than or the same as that price. This can be seen in the screenshot below. Additionally, the margin call price needs to be higher than the specified price that is provided by YouHodler. This holds true for a long position, but it has the opposite meaning when applied to a short position.
You have two options for either one of them to choose from.
• Adjust the TP and MC based on the current value.
• Adjust the TP and MC so that they are at the same level.
Example
Let’s imagine you open a trade worth $1,000 with a leverage of five times, making the total value of the trade $5,000 at the current BTC price of $5,000.
Now, you have the option of setting your take profit at either $500 or $5500 under the “change” or “level” headings, respectively.
If you select “Show details” from the drop-down menu, you will be provided with comprehensive facts regarding the manner in which YouHodler finances your leveraged position. YouHodler will, in a strict sense, finance your leveraged position through a succession of loans, with each loan serving as collateral for the loan that came before it in the chain.
Make sure that you have a complete understanding of the fees associated with trading with YouHodler before you begin using their services.
What exactly are the fees for YouHodler MultiHODL?
You should be informed that there are some costs involved with the YouHodler MultiHODL service. You are prompted to click an icon indicating that you have read all of the terms and conditions and that you agree with them, as shown in the screen capture that follows.
In addition, the terms and conditions include the fees, which are a significant component of the agreement. The cost structure will be discussed in the following paragraph. You may also get more information about each fee by hovering your mouse over the question mark next to it when you are logged into YouHodler.
Roll over fee: A cost that is determined based on the total amount that was borrowed and that is levied hourly. The cost for rolling over your balance is 0.005%.
Only profitable MultiHodls are subject to the profit share fee, which is calculated as a percentage of the total amount (own money plus borrowed amount). The profit sharing fee is 0.2 percent, and this fee is assessed once a trade has been closed (if the trade is profitable).
Although the fees for the YouHodler Multi HODL function are very hefty, the tool itself comes with an intuitive user interface for crypto leverage trading.
Review of YouHodler MultiHODL by YouHodler 2022 Summary
Is it worthwhile to test out the YouHodler MultiHODL feature, or is it not?
Let’s review the MultiHODL feature, including its benefits and drawbacks.
YouHodler MultiHODL professionals YouHodler
• A very user-friendly approach to engage in activities that are analogous to margin trading
• With MultiHODL, you can continue to earn interest on your initial investment
Multi-Hodler YouHodler criticisms of HODL
• High margin fees in comparison to those of other trading platforms; for an example, check the explanation of Binance Coin BNB and trading fees on Binance.
Because they accrue interest, you should avoid holding onto any product that involves leverage for an extended period of time.
Our Personal Experiences with Multiple HODL Accounts
The Multi HODL tool has been put through its paces by our own team. The overall performance of our transactions with this instrument was unfavorable. Staying with the cryptocurrency interest account is our recommendation if you are seeking for a dependable method to earn a yield on your cryptocurrency holdings.
