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YouHodler, a platform that issues loans to users willing to put up crypto as collateral, has just made their system even easier to use, as now customers can withdraw their loans directly onto debit and credit cards, instead of transferring to a bank.
The company made the announcement today on their blog, explaining that while the system is still in beta, it should be nonetheless fully functional for users to receive their funds in just 5-7 minutes. Previously most users had to send the money to their bank account, which took several days.
YouHodler offers loans of up to $30,000 and accepts BTC, ETH, XRP, LTC, BCH, BSV and XLM for collateral. There is an 80% loan-to-value ratio, meaning that if you were to put up 1 Bitcoin as colatteral (worth around $4,000 right now), you would only receive a little over $3,000 in cash. However, anyone who needs fiat in short notice and doesn't want to sell, this could be their best option.
The introduction of this feature is promised to be just the first of many new upgrades coming soon to the site. Stick with Chepicap for all updates on the internet's first crypto to fiat loan provider!
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