How to Use Multi HODL: Multiply Your Favorite Cryptocurrency (not Just Stablecoins)
As the cryptocurrency industry continues to grow, thousands of new faces enter the market every day, starving to taste the amazing benefits that this new era of financial technology provides. Take YouHodler’s famous feature Multi HODL for example. This is our platform’s most popular service due to its ability to help our clients multiply their favorite cryptocurrency easily and efficiently. Some of you are already aware of this but for all the newcomers to YouHodler, we thought it would be nice for a little refresher course on how to use Multi HODL.
What is Multi HODL and how is it different from Turbocharge?
If you break down Multi HODL away from its nice-looking interface, you’ll see at its core it is a crypto lending feature similar to YouHodler’s “Turbocharge loans.” With Turbocharge, clients pick crypto they want to multiply (e.g. Bitcoin) and use that crypto as collateral to get a loan and buy more Bitcoin. This is a fully automated process and can be repeated multiple times to form a “chain of loans.”
Multi HODL uses a similar principle as Turbocharge but with the key difference being users can trade crypto in either direction to long or short the market in just a few quick steps:
Step 1: “Click Multi HODL” in the YouHodler app
Step 2: Choose what currency you want to multiply (can be any cryptocurrency or stablecoin)
Step 3: Choose a direction you want to trade in (Up or Down)
Step 4: If the market moves in the direction you chose, then your trade is profitable and your input cryptocurrency is multiplied.
Unlike Turbocharge which only benefits clients during a bull market, Multi HODL can be profitable in either direction. Furthemore, the sliding “multiplier” feature increases the buying or selling power of the trade. Keep in mind that the higher the multiplier level is set in Multi HODL, the higher the risk.
Multiply stablecoins and cryptocurrency with Multi HODL
With Turbocharge, you can only multiply cryptocurrency in one direction. With Multi HODL you can multiply stablecoins AND cryptocurrency in both directions. If you choose to clone cryptocurrency, it is more advantageous than multiplying stablecoins. Why? Well if the asset price of your cryptocurrency happens to increase during the duration of your Multi HODL position, then you get the double benefit of that price increase plus you keep whatever profits were made during your profitable trade.
NEW PROMO: Multi HODL with Chainlink (LINK) and get a 25% discount off commissions
Speaking of multiplying cryptocurrency, we have a great new promo for our clients. The entire cryptocurrency market --and in particular Chainlink (LINK)--has experienced massive volatility lately. Volatility means Multi HODL users get plenty of opportunities to profit in either direction. To help encourage what we call “the active HODLer mindset” we have a new promotion for all YouHodler clients.
For those that open a Multi HODL deal using LINK as the cryptocurrency, they get 25% off all commissions. This is a limited-time promotion, so make sure you take advantage of it while the opportunity presents itself. But wait….there’s more! If you open a Multi HODL deal worth $500 or more, you get a ticket to our Lucky Draw which could end up with you getting a brand new Tesla Model 3! This offer is good up until the end of October.
So with so many reasons to open up a Multi HODL today, what are you waiting for?