Crypto Investment Platform YouHodler To Start Referral Program
- Writer Chisom Maduonuorah
- andEditor Shannon Ullman
- November 13, 2022
- •1 Min Read
YouHodler, a well-known crypto investment platform, has announced that it’s starting a bonus and referral program for users. The new program coincides with the company's four-year anniversary.
- YouHolder is a platform that lets you earn interest on your crypto assets. You can also borrow crypto funds from the platform to invest and repay with interest– think of it as a peer-to-peer lending platform.
The platform hasn't provided many details about its new bonus and referral programs. It says the program is still in the testing phase and will be released to the public "very soon." But, going by precedent from other crypto investment platforms, it’s likely that YouHodler will reward users for referring more users to its platform. What’s unclear is the size of the rewards pool.
It appears that YouHodler is pressing strongly despite the recent crypto market downturn. This year's crypto market crash has wiped out over $2 trillion in value, and the losses have been compounded by a slump in market confidence following the recent insolvency of FTX, a top-five crypto exchange.
YouHodler recently cut loan interest rates on its platform by a significant margin to improve credit demand and help clients amid a bear market. The platform also decreased the fees that it charges users to maintain their loans.
YouHolder began in 2017 as an app to enable people to trade cryptocurrencies. It got into lending soon after launching and issued its first loan in 2018. Since then, the platform has grown to facilitate millions of dollars of loans annually– users can borrow a minimum of $100 worth of different tokens, such as Bitcoin, Ethereum, Solana, etc.
Alongside its new referral program, YouHodler announced other changes such as a revamped interface and more flexible loan repayment options. The company says that the new referral program may not be available in some countries at the early stage but didn’t provide specifics.
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Chisom Maduonuorah is a writer passionate about tech startups, venture capital, the global stock markets, and emerging financial markets like cryptocurrency. When not writing, you can find him staring into the sky pondering what life is about.
Shannon Ullman is the managing editor for Milk Road. She specializes in cryptocurrency and personal finance content. Her work has appeared in publications like Insider Inc.