With crypto’s role in financial services rapidly expanding, platforms are focused on lowering barriers for new users and providing seamlessly integrated tools. YouHodler, a Swiss and EU-based Web3 platform, is tackling the adoption challenge by offering user-friendly tools to make digital finance accessible to everyday consumers and advanced traders.
In this interview, YouHodler CEO Ilya Volkov touches on the platform’s approach to simplifying crypto adoption, its features that blend fiat and crypto and the role of transparency in building trust within the fintech space.
Cointelegraph: What are the main factors that deter everyday consumers from using crypto?
Ilya Volkov: Every day, consumers face several challenges with crypto. Many platforms have overly complex interfaces, making it tough for newcomers to get started. At YouHodler, we’re constantly refining our user interface to ensure it’s intuitive and easy for everyone.
Trust is also a big factor — security and regulation worries often deter users. YouHodler is a highly regulated platform registered as a virtual asset service provider (VASP) in Italy, Spain and Argentina and a regulated financial intermediary in Switzerland.
We keep our fees low, too, making crypto more accessible. And, unlike many platforms, we prioritize truly exceptional customer support. Our dedicated team is always there to provide real-time assistance, guidance and reassurance so users know they’re never alone on this journey.
CT: What do you think should be done to encourage crypto adoption?
IV: To encourage more people to explore crypto, a few key things can help. First, we need clear regulations from lawmakers so users feel safe and confident. Then, it’s important to show that crypto and blockchain are more than just fun trends — there’s real value and potential here that can benefit everyone.
Education is also key. By helping people understand that Bitcoin (BTC) and other cryptocurrencies support freedom of transaction, true ownership and self-reliance, we can make crypto’s benefits clearer to everyone. With these steps, we can make crypto feel accessible, valuable and welcoming.
CT: How does YouHodler aim to bridge the gap between TradFi and crypto?
IV: YouHodler is all about making it easier to connect traditional finance (TradFi) and its evolution — crypto! We simplify complex crypto concepts with a user-friendly interface and top-notch customer support so users can get the help they need anytime.
Plus, we allow users to buy crypto using various fiat currencies like the euro, the US dollar, the Swiss franc and the British pound, and we’re excited to add even more options soon! By combining classic financial tools, such as IBANs and debit cards, which are coming in the first quarter of 2025, with straightforward crypto solutions, we’re making it easier for everyone to explore the benefits of DeFi. You can even take out crypto-backed loans in fiat or stablecoins, making it all practical and accessible for everyday users.
CT: What are the main features and offerings YouHodler is providing to the users?
IV: YouHodler offers great features to enhance the crypto experience for users! Our smooth on-and-off ramp makes it easy to buy and sell popular blue-chip tokens and discover hidden gems in the market. If users need cash, our crypto-backed loans let them borrow over 50 cryptocurrencies for added flexibility.
For those interested in trading, we provide advanced options with leverage. Plus, we have BTC mining! Users earn Sparks (in-app points) for engaging with the app and can use those Sparks to mine real Bitcoin through our BTC cloud miner.
CT: Could you explain how Youhodler’s crypto-backed loans work?
IV: YouHodler’s crypto-backed loans make borrowing funds easy and accessible. Users can choose from a wide range of cryptocurrencies to use as collateral, enjoying a loan-to-value (LTV) ratio of up to 97%. For instance, if someone deposits $10,000 in crypto, they can borrow up to $9,700.
With no credit checks, these loans are available to everyone. The approval process is super fast — often just a matter of seconds — and flexible repayment options allow users to access cash without selling their valuable assets. It’s a fantastic way to unlock the value of crypto while keeping ownership!
CT: As a Web3-native platform, what inspired YouHodler to launch a native token?
IV: The YHDL token is designed to enhance the user experience on YouHodler.com and reward our amazing customers! Once launched, YHDL holders will enjoy fantastic perks like lower fees and bigger rewards.
There are plans for cashback rewards with our upcoming debit card in YHDL as well. Additionally, YHDL will be linked to BTC mining in our cloud miner, creating a direct connection to Bitcoin. This initiative aims to enrich the experience and ensure the long-term stability of the YHDL token!
CT: Could you share the details of the YHDL token launch?
IV: The YHDL token generation event is planned for December 2024, and I am excited to share some details! Until the end of November, we’re running an airdrop campaign where users can complete simple tasks to earn YHDL as a reward.
In December, those who qualified for the airdrop and joined Youhodler.com will have the chance to increase the amount of YHDL tokens they receive. Readers can check out the bonus page on Cointelegraph and join our airdrop now.
CT: YouHodler is an official sponsor of Torino FC. How does this sponsorship align with your brand and vision?
IV: Being huge football fans, especially of Italian football, sponsoring Torino FC was a natural fit for us! The club has a rich history and an incredible fanbase, making it an exciting partnership. This sponsorship aligns perfectly with our vision of promoting community and passion, both of which are at the heart of YouHodler.
📢 OFFICIAL ANNOUNCEMENT
— YouHodler (@YouHodler) September 30, 2022
⚽ We are proud to announce that we are the cryptocurrency partner of @TorinoFC1906_En, one of the top teams in the Italian Football League, Serie A!
🏆 You’ll see our debut at the Stadio Olimpico Grande Torino!
📆 9 October 2022
1/2 pic.twitter.com/DM6185EY4l
CT: What lessons from the highs and lows of the industry have helped shape Youhodler’s approach to product development and customer service?
IV: The ups and downs of the crypto industry have taught us that transparency is essential. Watching the downfall of FTX and Terra Luna confirmed what we’ve always believed — transparency and honesty are key to making a crypto project successful.
It’s also crucial to be customer-centric. Many companies have overlooked the struggles of their users, but we are dedicated to helping everyone experience the benefits of the crypto revolution. That’s why we focus on providing impeccable service and top-notch customer support. By prioritizing transparency and understanding user needs, we aim to build a trustworthy and supportive platform.
CT: What legacy do you hope Youhodler will leave in the financial technology industry?
IV: We hope to be remembered as the most customer-friendly platform that truly goes the extra mile. Our goal is to provide users with all the tools they need to take control of their finances and enhance their financial well-being.
By prioritizing exceptional service and understanding user needs, we aim to create a supportive environment where everyone feels empowered in their financial journey. Ultimately, we want YouHodler to be seen as a trusted partner in the financial technology space, dedicated to helping individuals navigate the evolving world of finance with confidence.
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