How long does it take to get a loan at your local bank? If you’re lucky and have a perfect credit score and no debt, then it should be a relatively painless process. Even then, you’re still facing long waits in traffic, sore hands from filling out piles of paperwork, and the potential to hear “no” from your lender. Especially in today’s economy, it’s getting even harder to get loans for the purpose of investing, daily needs, or anything for that matter. Fortunately, a new breed of crypto FinTech platforms is here to make instant loans accessible again.
The short answer to this question is it takes just a few minutes to get a loan with crypto on platforms like YouHodler. After signing up, passing a short ID verification process (for anti-money laundering and security purposes), you can request a loan and have cash in your wallet within a few short minutes. The process works as follows:
1. Deposit crypto of your choice to the lending platform.
2. Choose your loan parameters
3. Receive cash
4. Withdraw cash to your bank account or bank card.
It’s important to note that not all instant loans are the same. Different platforms come with different features and you need to see which one is best for you. YouHodler, for example, has very favorable loan conditions with a loan to value ratios (LTV) as high as 90% and very reasonable fees. The platform has a variety of unique features that help users extend their loans, close their loans, and customize their loans however they choose.
When the user repays the loan, they get their crypto back, even if it has increased in value. Also, users can receive their loans in USD, EUR, GBP, CHF, BTC, and stablecoins. So next time you ask “how long does it take to get a loan?” remember crypto-backed lending solutions. They’re the fastest and most convenient way to get instant loans.
It takes just a few minutes to get a loan with these platforms meaning you can have cash today. Given the various market conditions, now is an ideal time to enter the market, buy the dip and capitalize when the market rises later. Of course, no one knows for sure when this recession will end but it will end someday and those who bought stocks and crypto while they were cheap will reap the benefits. Instant loans of the crypto variety are a quick and efficient way to access that capital for market investments. So if that sounds like something you’re interested in, check out one of these platforms today.