Audrius Ramanauskas Youhodler – Your Answered Faq

Looking for Audrius Ramanauskas Youhodler…Many of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the company model of private platforms, the return rates, the reliability and track record, functionality of their apps and we will also talk about some of the risks that you ought to consider when depositing your crypto on one of these platforms.

 

think about subscribing and hit the like button to see more content like this in the future. Let’s first give you a brief intro to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform in the world, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to earn or take a crypto loan interest on their stablecoins and cryptocurrencies. In overall, Celsius handles more than $17 B worth of assets. The platform uses its services worldwide, nevertheless, they are currently not releasing loans in the United States due to local regulations. BlockFi is the largest

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competitor to Celsius Network. The US-based company has trading and loaning licenses in different US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is definitely worth thinking about.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned nations. YouHodler is most likely the most genuine crypto financing platform in Europe. The business is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler offers very competitive rates on your crypto assets in addition to a number of other functions which you won’t discover on any other platforms. The platform is offered in numerous countries with the exception of Germany and the U.S.A.. So if you reside in the states, you won’t be able to utilize YouHodler’s services. Nexo is another European platform that provides crypto lovers the option to make interest not only on their coins but also fiat deposits. Nexo remains in fact, one of only two, to us understood, crypto financing platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief overview of every platform

 

And the platform is also planning to introduce a BlockFi credit card which will generate another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. That’s at least our interpretation from Nexo’s business design as the platform does not have A dedicated section about

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If you are viewing this video, you desire to make cash by transferring your coins on one of the platforms? Every platform has specific limits and terms when it comes to using interest on your coins. You are only able to earn higher rates if you decide to get the interest in Celsius’s own utility token.

 

9% annually. What deserves pointing out is that if you wish to save some costs, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not need to pay the significant gas fee, as the currency runs on the Binance Smart Chain with method lower costs in comparison to stablecoins that operate on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler provides currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility tokens. You can make 12% interest on your USDC holdings and the platform offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers higher rewards for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. The platform offers 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really predict the genuine return from your deposits. Also, remember that by depositing your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. Now, that you are conscious of the returns let’s briefly evaluation the credibility of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The creator Alex Mashinsky is a popular entrepreneur. Prior to releasing the Celsius network, he has actually co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the development and examine some of the statistics. As we are recording this video, there are over 650,000 users and the platform is managing $17 billion worth of properties. Alone in the last 12 months, Celsius has Audrius Ramanauskas Youhodler

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paid out more than $367 M worth of rewards. While we haven’t managed to get answers to our questions, the CEO does hold a weekly AMA session where he is attending to the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it comes to sharing its monetary reports, however with a little bit of digging, you can get your hands on the financial report for 2020, where you will discover out that the platform is not profitable. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement space rather than the fintech space. BlockFi is also financed by lots of institutional investors and the platform is primarily targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are readily available Only for U.S people as BlockFi has the required financing licenses only in the U.S. , if you desire to inspect BlockFi’s data you won’t be delighted as there are none available.. Some external sources suggest that there are more than 125,000 signed up users, however, we were unable to validate any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research study, it seems like he has actually transferred to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has been praised by some of you in the comments on previous videos, unfortunately, the platform isn’t publicly exposing any financial reports, nor stats about their user base or assets under YouHodler’s management. When using YouHodler, this is something you should definitely think about. Moving on to Nexo. Nexo claims to handle $12 B worth of properties from more than 1.5 M of users. If this is proper, it would imply that Nexo is twice as big in regards to user base as Celsius with a much lower average

 

At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a bit of a high development even if we think about the buzz in the crypto area. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that apparently is financing Nexo. According to our current research study, the executive board doesn’t even include Antoli, but only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is understood for the “abuse of customers cash”.

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in the media, he is often only promoting crypto and anticipating rates however lacks any deeper insights into the crypto lending space or how Nexo is operating. That’s just our impression from his Bloomberg talks. Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not use interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not attorneys, we have a hard time to understand the legal setup under which Nexo is using its services. Now that we have reviewed some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto lending website. Celsius has actually begun as a native mobile app. The app is well established and it comes with numerous security features such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see the number of properties you are holding and what are the presently provided rates. You can withdraw and transfer supported coins however there is no exchange, so if you do not transfer your cryptos from another wallet, you can acquire them straight through the app. Keep in mind, however, that there might be charges for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less developed impression. The app is extremely simple therefore is the desktop version of the platform. BlockFi supports currently only 10 digital currencies. The platform likewise provides a devoted exchange so you can even trade them. We don’t recommend this function that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just available to U.S. residents, the platform is also working on a Bitcoin benefits credit card which will be taking on the credit card from Crypto.com YouHodler provides some of the most innovative services among the crypto financing platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have an actually strong idea of what every crypto financing platform is providing. What you must consider though, is that as soon as you deposit your crypto on any platform, you are not owning your private secrets any longer and your possessions might get compromised either by third parties or by the platform itself. Audrius Ramanauskas Youhodler

 

quit your ownership of the possessions as long as you hold them in the platform’s wallet. The only method to secure your crypto is to keep it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The downside of this strategy is that you will just gain from the increased worth of your coin however not the interest on your deposits, which is something you can do on one of the crypto financing platforms. As with any investment, it constantly comes down to the risk and return and your threat profile. Based on our in-depth contrast, let’s have an appearance at our independent scores of every classification for every platform. Keep in mind, that we have assigned the rankings based on our own research. One represents the most affordable score while five stands for the greatest rating. Within the business design classification.