Looking for Is Youhodler.Com Down…Much of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing business model of private platforms, the return rates, the reliability and track record, use of their apps and we will likewise discuss some of the dangers that you should think about when depositing your crypto on one of these platforms. We will also round up the contrast with our independent rating of the just-mentioned categories for each platform. So keep watching up until the end to discover how we scored individual platforms. if you are new to this channel and your objective is to become a more informed P2P financier
Let’s first offer you a brief intro to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. The platform offers its services worldwide, nevertheless, they are currently not releasing loans in the United States due to regional guidelines.
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rival to Celsius Network. The US-based business has trading and loaning licenses in numerous US states. If you are looking for a wealth-management app for your crypto properties BlockFi is definitely worth thinking about. The platform uses 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 lending platform in Europe. The company is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler provides very competitive rates on your crypto assets in addition to several other functions which you won’t find on any other platforms. The platform is readily available in lots of nations with the exception of Germany and the U.S.A.. If you live in the states, you will not be able to use YouHodler’s services. Nexo is another European platform that provides crypto lovers the alternative to make interest not only on their coins but likewise fiat deposits. Nexo is in fact, among just 2, to us understood, crypto loaning platforms that offer interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick introduction of every platform
And the platform is likewise planning to release a BlockFi credit card which will create another income stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. That’s at least our interpretation from Nexo’s service design as the platform doesn’t have A devoted section about
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If you are enjoying this video, you want to make money by depositing your coins on one of the platforms? Every platform has specific limitations and terms when it comes to providing interest on your coins. You are just able to make greater rates if you choose to get the interest in Celsius’s own utility token.
9% per year. What’s worth pointing out is that if you want to save some costs, and bring more stability into your crypto interest account, you can also deposit the Binance USD coin for which you will not require to pay the large gas cost, as the currency works on the Binance Smart Chain with way lower costs in comparison to stablecoins that work on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler offers currently the most competitive rates for your USDC coins without the requirement to stake the platform’s own energy tokens. You can earn 12% interest on your USDC holdings and the platform provides 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers greater benefits for those who wish 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 need to remember is that platforms tend to adjust the rates from time to time, so you can’t actually predict the real return from your deposits. Keep in mind that by transferring your crypto, the value of the currency may reduce Which will make it hard for you to liquidate your properties if that’s something you would otherwise think about. So now, that you understand the returns let’s briefly evaluation the reliability of the platforms and their track record. Celsius Network is likely the most genuine platform in this space. The creator Alex Mashinsky is a popular entrepreneur. Before releasing the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep track of the development and evaluate a few of the stats. As we are taping this video, there are over 650,000 users and the platform is handling $17 billion worth of properties. Alone in the last 12 months, Celsius has Is Youhodler.Com Down
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At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform claims to handle $12B from 1.5 M users, which we think is a bit of a high development even if we consider the buzz in the crypto space. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan company that obviously is funding Nexo. According to our current research study, the executive board doesn’t even consist of 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 financing platform, which is understood for the “abuse of clients money”.
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in the media, he is often only promoting crypto and predicting costs but lacks any deeper insights into the crypto lending space or how Nexo is running. However that’s just our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our understanding, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not lawyers, we struggle to comprehend the legal setup under which Nexo is offering its services. So now that we have examined some of the track records of the four discussed platforms, let’s briefly go over the use of every crypto lending website. Celsius has actually begun as a native mobile app. The app is well developed and it comes with various security features such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how lots of possessions you are holding and what are the currently provided rates. You can withdraw and transfer supported coins however there is no exchange, so if you don’t deposit your cryptos from another wallet, you can buy them directly through the app. Note, however, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less industrialized impression. The app is extremely basic therefore is the desktop version of the platform. BlockFi supports currently only 10 digital currencies. The platform also uses a dedicated exchange so you can even trade them. We do not advise this function that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just readily available to U.S. people, the platform is likewise dealing with a Bitcoin rewards charge card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most innovative services amongst the crypto lending platforms. Presently, the platform supports 18 digital
currencies on which you are able to make interest. YouHodler allows you to exchange in between various currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are extremely low, so you don’t require to transfer hundreds of Euros or Dollars to test the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can just make interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also provides you the choice to borrow fiat money in exchange for collateral. The platform currently supports just loans in us euros or dollars. YouHodler is also among the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the performance of those features goes beyond this video, you can learn how it operates in our dedicated youhodler evaluation on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is also utilizing its energy tokens to use better rates on loans, greater interests on crypto and fiat deposits, or more free withdrawals monthly. Likewise if you choose to stake your coins or fiat, indicating you lock your possessions for a defined term, you can get a higher interest rate. Like BlockFi, Nexo likewise uses you to purchase, or exchange crypto if you want to hold your assets in various currencies. Now you have a truly strong idea of what every crypto loaning platform is providing. What you ought to consider though, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets anymore and your possessions may get jeopardized either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you do not own the keys, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are very clear about the fact that you Is Youhodler.Com Down
The only method to safeguard your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy is that you will just benefit from the increased value of your coin however not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our extensive comparison, let’s have an appearance at our independent rankings of every category for every platform.