We all heard the story of some lucky kid who bought Bitcoin back in 2013 and became a millionaire by 2017. Good for them. But what about the people that bought in 2013 and had to sell in 2016? Are they stupid? Maybe some of them are but the majority of them missed out on the bull run of a lifetime because they needed money for bills, business, and life in general. But now, that never has to happen again with this crypto trick.
CRYPTO TRICK: CRYPTO LENDING PLATFORMS PROTECT YOU FROM F.O.M.O
We all have a fear of missing out (F.O.M.O). That’s just human nature. But there are certain tools available that protect us from experiencing this emotion. Take crypto backed lending platforms for example. These platforms take your crypto as collateral in exchange for a fiat loan. You take the loan to pay off bills, repair mining hardware or whatever you choose. Once the loan is paid back, then you receive your crypto again. It’s a way to get money without losing your crypto investment. Therefore, you won’t ever miss out on another bull run again.
CRYPTO TRICK: WHICH CRYPTO LOAN PLATFORM IS BEST FOR YOU?
There are several crypto loan platforms out there but not all of them are good options. To get the most out of your loan, you should pick a platform with the lowest interest rates, highest loan to value ratio and convenient payment options. Some platforms stick to only BTC and wire transfers, making the whole process slow and tedious. Then, on the other hand, you have platforms like YouHodler.
CRYPTO TRICK: GET A CRYPTO LOAN NOW TO PROTECT YOURSELF
We won’t see a bull run anytime soon. In fact, we are in the midst of a bear market right now. That’s where YouHodler comes in. By taking out a crypto loan using BTC, BCH, BSV, LTC, ETH and more as collateral, you can protect your portfolio. With a loan to value ratio of 80% and interest rates as low as 2.5%, you are getting the most out of your loan.
Use that investment to strengthen your portfolio by investing in stable assets. That way, when the market takes a dive like it is right now, the impact will be minimal. Alternatively, you can set yourself up nicely for the next market spike.