YouHodler Adds Stellar (XLM) Cryptocurrency as Suitable Collateral Option
If you have been following the crypto markets keenly, then you must have noticed that YouHodler – one of Fintech platforms most pioneering products – has been continually and gradually expanding over the past few years. And this growth has seen it expand its reach by adding a new collateral additive to their arsenal list. Thanks to popular demand from the larger cryptocurrency community, YouHodlers can now include XLM ( i.e Stellar ) to their collateral option. These new developments come a few days just after the platform brought BSV onboard while still attempting to bring yet another influential sector of the larger crypto community to their backlog.
What Does The Introduction Of Stellar Mean To YouHodlers?
The decision to choose XLM as one of the main collaterals on the broader YouHodler platform spectrum has allowed users the luxury and convenience of accessing loans in USD, USDT, and EUR format. What's more, using just a debit/credit card, stable coin wallet and a fully verified bank account, one can instantly withdraw this loan in cash from the platform.
Being the ninth largest digital currency as far as market capitalization goes, XLM has proven to be one of the strongest crypto options that have weathered the bear market storms. In fact, XLM is presently trading at just under $0.086630 compared to the U.S dollar with a market cap of over 19 billion. And it does not seem like a tall order considering that it is well closing on the tail of USDT (Tether) for the 8th position.
Even as these developments materialize, they hype around this coin continues to balloon alongside XLM's partner with conglomerates such as IBM. Steller, which can easily be considered to be the top competitor and challenger to Ripple is on a mission to assist IBM to overhaul the conventional and traditional banking system in the Polynesian region of the South Pacific.
Youhodlers Are Excited To Welcome Stellar Aboard
Although Stellar is a comparatively small network when compared to other coins that occupy the top 5 status, XLM still exhibits massive potential through its legion of staunch followers such as the XLM community. And the collaboration will make it exceedingly easier for XLM HODLers and crypto enthusiasts interested in the Stellar network to find an alternative use for these coins. XLM HODLers, in particular, is often overlooked in the crypto industry niche but by introducing them to this new platform, they are well-placed to make a lasting connection which is expected to be beneficial to all parties.
YouHodlers Can Expect More
XLM is not the only trick up the sleeve of the developers behind this platform. Nonetheless, it is an important addition that heralds the introduction of ZCASH and DASH as some of the other collateral options in the near future. Now, rather than be just a conventional crypto lending platform, YouHodler is redefining itself as a FinTech-powered platform that focuses on lending of digital currencies while aiming to come up with a much more diverse global finance ecosystem.