Lausanne, Switzerland, November 09, 2021 (GLOBE NEWSWIRE) – (via Blockchain Wire) YouHodler, a fintech platform that helps people access the benefits of the crypto-economy, has announced that it will be phasing out Bitcoin SV coins ( BSV) on November 9th, 2021. Current holders can withdraw their BSV holdings or exchange them for other coins. All BSV-backed business transactions and loans will be closed automatically on November 9th and after that all BSV coins will automatically convert to Bitcoin at the market rate.
“Most crypto companies have followed Binance in loudly announcing its decision to phase out BSV tokens in April 2019. Building on our basic principle of letting customers decide what to buy and what to trade, we have retained BSV. much longer because people were still interested in doing it. Says Ilya Volkov, CEO and Founder of YouHodler. “At this point, confidence in Bitcoin SV has plummeted and we can no longer allow our customers to hold it as it could result in a total loss of funds. This is why we made the decision to remove BSV from the YouHodler platform ”.
Bitcoin SV is a fork of Bitcoin Cash created in 2018 after a group of miners disagreed with the ecosystem’s decision to resolve scaling issues. During the summer of 2021, Bitcoin SV suffered multiple 51% attacks, causing the public to question the security of its network. The people behind Bitcoin SV have also made questionable claims and attempted to manipulate the market. To date, Bitcoin SV is the # 54 token on Coinmarketcap and its market cap is less than $ 3 billion.
YouHodler users can convert their BSV to BTC, ETH, ADA, BNB, LTC, XLM, XRP, DASH, HT, DOGE, and other popular cryptocurrencies and tokens. YouHodler’s solutions open up connections between crypto and the real world, allowing people to use their crypto assets without spending them. With YouHodler, users can buy and sell crypto anytime, use it for purchases, or put it into a reward account that generates up to 12% return. Additionally, they can trade crypto, fiat, and stablecoins and instantly get cash and crypto loans with their crypto assets acting as collateral.
YouHodler is a fintech platform that helps people access the benefits of the crypto economy. It allows users to get instant cash and cryptocurrency loans, trade crypto, fiat, and stablecoins quickly and easily, and earn up to 12% APR + compound interest by depositing crypto on their account. The platform has the highest loan-to-value ratio (90%), with minimum loan amounts starting at just $ 100, and accepts the top 30 coins as collateral with instant credit card and bank withdrawals included. YouHodler supports BTC, ETH, ADA, BNB, LTC, XLM, XRP, DASH, HT, DOGE and other popular cryptocurrencies and tokens. User funds are protected by Ledger’s industry-leading, independently certified security technology and their insurance program. The company is a brand based in the EU and Switzerland with two main offices in Cyprus and Switzerland. For more information, please visit https://www.youhodler.com