Welcome; in this article, we will review the YouHodler MultiHODL feature. Then, how can you profit from trading the MultiHODL in 2022?
YouHodler is mainly a cryptocurrency platform for lending and borrowing. However, they also offer extra features similar to the best crypto leverage trading platforms, such as MultiHODL, where you can trade with leverage with an easy-to-use interface.
If you are interested in trading with leverage, you can also check our article about crypto margin trading.
What is YouHodler?
YouHodler is a cryptocurrency platform that allows you to take out loans using crypto as collateral or earn interest on your crypto holdings. Also, they have some additional features, such as MultiHODL.
All YouHodler features
- Crypto Loans (Borrow funds and use your crypto as collateral)
- Earn Interest (Similar to a savings account, deposit and earn interest as passive income)
- Exchange (Swap a cryptocurrency for another)
- Multi HODL (Crypto leverage trading in an easy-to-use interface)
- Dual Asset (Crypto Defi liquidity mining in an easy-to-use simple interface)
YouHodler Savings Account Interest Rates
What is YouHodler MultiHODL?
YouHodler MultiHODL is a feature where you can multiply your crypto assets. You can do this by using a portion of your YouHodler wallet balance.
This is similar to margin trading, or leverage trading.
You can keep the majority of your funds in the interest account using some amount to engage in trading activities with high-profit potential.
The best of all is that you keep generating interest on the amount you deposit into MultiHODL.
How to use YouHodler MultiHODL?
So, how can you profit from the YouHodler MultiHODL feature? See the step-by-step list below. You can follow all the steps in the screenshot below.
After this, you can adjust take profit (TP) and margin call (MC). As you can see in the screenshot below, the take profit price must be less or equal to a certain price given by YouHodler. Also, the margin call price must be greater than a certain price, given by YouHodler. This is true for a long position and reversed for a short position.
You have 2 alternatives for both of them
- Set the TP and MC as a change from current value
- Set the TP and MC as a level
Let´s say you open a trade worth $1000 with 5x leverage, worth in total $5000 at BTC price $5000
Now, you can either set you take profit as $500 under “change” or $5500 under “level”.
If you click on “Show details” you will get all the information about how your leveraged position is funded by YouHodler. Technically, YouHodler will finance your leveraged position with a series of loans where each loan is collateral for the loan below it.
Before you start trading with YouHodler, make sure you understand the fees explained in the next section.
What are YouHodler MultiHODL fees?
There are some fees associated with YouHodler MultiHODL you should be aware of. As you can see in the screenshot below, you are asked to click that you have read and agree on all the terms and conditions.
Further, the fees are an important part of the terms and conditions. The fees are explained in the next paragraph. If you are logged into YouHodler you can also hover over the question mark for each fee to get an explanation.
Roll over fee: Time based fee calculated on the total borrowed amount and charged hourly. The roll over fee is 0.005%.
Profit share fee: Fee based on the total amount (own funds + borrowed amount), and only charged on profitable MultiHodls. The profit share fee is 0.2% and this is charged once on trade is closed (if the trade is profitable).
Conclusion: The YouHodler Multi HODL fees are quite high but the feature comes with an easy-to-use interface instead for crypto leverage trading.
Compare the YouHodler Multi HODL fees with crypto derivative exchange with the lowest fees.
Summary - YouHodler MultiHODL review 2022
So, is the YouHodler MultiHODL feature worth trying or not?
Let´s summarize the MultiHODL feature with pros and cons
YouHodler MultiHODL pros
- Very user-friendly way to do something similar to margin trading
- You still earn interest on your capital in MultiHODL
YouHodler MultiHODL cons
- High margin fees compared to other trading platforms, see example Binance trading fees and Binance Coin BNB explained.