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How to get an SNX-backed crypto loan

Do you have Synthetix (SNX) crypto but don’t want to sell it? Thankfully, YouHodler makes it easy for you to get instant cash while still HODLing your favorite cryptocurrencies like SNX Here’s how to get started. 

STEP 1: DEPOSIT SNX

YouHodler features quick deposit capabilities for all cryptocurrencies. To deposit SNX, just log into your account, find your SNX wallet, click “deposit” and follow the simple instructions. 

STEP 2: PICK A CRYPTO LENDING PLAN

YouHodler is all about flexibility. That’s why we have three different loan plans with varying levels of loan to value ratio (LTV) and interest rates. Please pick the best one for you. Custom loan plans are also available upon request. 

STEP 3: GET YOUR LOAN

After you choose a plan, click the “Get a loan” button. Within a matter of seconds, you’ll see your loan deposited in your wallet. 

STEP 4: USE YOUR CASH

Now it’s time for the best part...use your cash! YouHodler lets you withdraw fiat directly to your bank account so you can use your cash in the “real world.” Alternatively, you can use that cash to buy more crypto right on YouHodler via our conversion engine. 

Is my collateral safe with YouHodler?

The short answer is yes, your collateral is safe. YouHodler features high-grade safety and security measures so that your crypto collateral is safe at all times. Read more here

Try to multiply SNX with Multi HODL

Besides using SNX as collateral for an instant crypto loan, YouHodler also helps you multiply SNX via our Multi HODL tool. To begin, simply click the Multi HODL button on your SNX wallet, choose which direction you think SNX will move in on the market (Up or Down), and then set your multiplier level (x5 - x30). 

Then, follow the results closely and see if SNX moves in your favor for profit. Manage your open long or short position with “Take Profit” and “Margin Call” features that let you exit the market at the precise time. Discover a quick and easy way to multiply your SNX with Multi HODL.

How to borrow Synthetix - How does it work?

With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow SNX, you first must convert one of the above to fiat and convert it to SNX using our exchange service. 

Synthetix loan calculator

You can use our SNX loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan Synthetix, please check the calculator first to see which plan works best for you. 

Synthetix lending process

Synthetix lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future SNX loans.

It's worth trying! Forget selling your

Synthetix

with instant crypto backed loans on YouHodler

If you would like to learn more about crypto credits, please continue to the app. Start boosting your crypto portfolio now with YouHodler's crypto lending, convert, buy and sell options.

Thank you! Stay in touch :-)
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