April 15th, 2020 — The Blockchain Association today announces that longstanding approved member and FinTech startup YouHodler has added PAX Gold (PAXG) to its list of digital currency options and has launched four new high-yield savings accounts with popular digital currencies, including Ethereum (ETH), Ripple (XRP), Chainlink (LINK), and Stellar (XLM).
Safe-haven asset with the innovation of crypto
Yohodler’s launch of PAX Gold lets investors take advantage of the benefits of trading physical gold and combines that with the innovation of the cryptocurrency industry. Youhodler customers can choose crypto loans with PAX Gold (PAXG) as collateral, open a PAXG savings account and use a feature called “MultiHODL” with PAXG.
To benefit even more from their new PAXG holdings, YouHodler users can earn an annual percentage rate (APR) of 8.2% via PAXG Savings Accounts. Hence, this lets users “HODL” PAXG while earning a passive income each month. With this feature, users can take some portion from their savings account and open a MultiHODL position with PAXG, helping them multiply their holdings through an automated chain of loans.
Owning physical gold that’s recorded on the blockchain has numerous advantages. For one, it represents verified, legal ownership of real gold. Furthermore, it has the added benefit of optimal transportability and zero storage costs compared to the inconvenient methods of shipping and storing physical gold.
Better savings rates than banks
The new digital currencies available for savings accounts at Youhodler present a well-rounded suite of digital asset savings accounts for all users looking for digital asset investment. While banks all over the world continue to drop interest rates as a result of difficult economic times, the platform’s stable coin savings accounts yield 12% APR and feature popular options like Tether (USDT), TrueUSD (TUSD), Paxos (PAX), and USDCoin (USDC).
The addition of Ethereum (ETH), Ripple (XRP), Chainlink (LINK), and Stellar (XLM) provides investors with even more options to earn interest and potential profits. Features like MultiHODL, for example, allow users to take a portion of their savings account or crypto wallets to use in risker but potentially highly profitable positions on the crypto market. Users can set their own level of risk/profit and even choose which direction they want to “multiply” using the features “up” and “down” buttons. This allows users to essentially leverage or short depending on market conditions.
About the Blockchain Association
The Blockchain Association is uniting cryptocurrency exchanges and financial firms transacting on the blockchain that are committed to upholding the highest standards of commercial honor and best business practices by providing their customers free external dispute resolution (EDR) services. In joining the professional community companies and individuals have the unique opportunity to consult with industry experts, legal and compliance professionals and fellow association members about regional regulations and compliance in key global markets where digital currencies are in very high demand.