Series B Youhodler – Your Answered Faq

Looking for Series B Youhodler…A lot of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing business model of individual platforms, the return rates, the credibility and track record, use of their apps and we will also talk about some of the dangers that you need to consider when depositing your crypto on among these platforms. We will also round up the comparison with our independent rating of the just-mentioned classifications for every platform. So keep watching up until the end to learn how we scored individual platforms. if you are brand-new to this channel and your objective is to become a more informed P2P investor

 

consider subscribing and struck the like button to see more material like this in the future. So let’s very first give 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. Currently, there are over 650,000 users using Celsius Network to take a crypto loan or make interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of possessions. The platform uses its services worldwide, however, they are currently not providing loans in the United States due to regional policies. BlockFi is the biggest

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competitor to Celsius Network. The US-based company has trading and loaning licenses in various US states. If you are searching for a wealth-management app for your crypto properties BlockFi is certainly worth thinking about. The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of approved countries. YouHodler is most likely the most genuine crypto financing 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 a number of other features which you won’t discover on any other platforms. The platform is readily available in many countries with the exception of Germany and the USA. So if you reside in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that provides crypto lovers the alternative to earn interest not only on their coins but likewise fiat deposits. Nexo remains in reality, one of only 2, to us known, crypto lending platforms that provide interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. So now that you have a short introduction of every platform

 

let’s talk about how they earn money in the first place. So Celsius generates income from the interest they charge to the customers which are either retail customers or organizations, they also make money from their CEL token which is an energy token that you can utilize to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which indicates that Celsius utilizes the security from the debtors and deploys it in order to create extra earnings. BlockFi is also making money through the interest that is being charged to debtors. In addition to that, the platform likewise charges a 2% origination charge for anyone who wants to take a loan. Another income stream is BlockFi’s exchange function. The platform generates income from the spread when exchanging currencies. BlockFi also charges withdrawal charges after your one totally free withdrawal each month. And the platform is likewise planning to introduce a BlockFi credit card which will generate another earnings stream. YouHodler is likewise earning money from the interest charged to borrowers. In addition to that, there is a small withdrawal fee and fees for additional services such as the Multi HODL tool, which is a feature that lets you leverage your crypto assets in exchange for potential returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. Nexo likewise makes earnings with their Nexo token. That’s at least our analysis from Nexo’s company model as the platform doesn’t have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Series B Youhodler

this on their site. Now let’s discuss the returns. If you are seeing this video, you wish to earn money by depositing your coins on among the platforms right? Prior to we compare the rates, there are a few things that you need to consider. When it comes to using interest on your coins, every platform has particular limitations and terms. So for example, Celsius Network changes the rates every week to show the present market scenario. Likewise, you are only able to earn higher rates if you decide to receive the interest in Celsius’s own utility token. The greater benefit rates are also not available for United States people. If you would not want to pay out your rewards in the CEL token, you can presently anticipate to get 5.05% on your Ethereum, 3.51% on your Bitcoin, and 10% interest on your deposits in Binance USD or USDC which is the stablecoin from Coinbase. On BlockFi, the rate for your Ethereum and Bitcoin deposits depends upon the number of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum varieties between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

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 provides higher benefits for those who desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you should keep in mind is that platforms tend to change the rates from time to time, so you can’t really predict the real return from your deposits. Series B Youhodler

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paid more than $367 M worth of rewards. While we have not managed to get answers to our questions, the CEO does hold a weekly AMA session where he is dealing with 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, but with a little bit of digging, you can get your hands on the monetary report for 2020, where you will find out that the platform is not rewarding. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development area instead of the fintech area. BlockFi is also financed by many institutional investors and the platform is generally targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are offered Just for U.S people as BlockFi has the necessary loaning licenses only in the U.S. , if you want to check BlockFi’s data you will not be pleased as there are none readily available.. Some external sources suggest that there are more than 125,000 registered users, nevertheless, we were unable to confirm 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, it seems like he has actually transferred to Switzerland to introduce his crypto financing platform YouHodler in 2017. I understand that YouHodler has actually been applauded by a few of you in the discuss previous videos, regrettably, the platform isn’t openly exposing any financial reports, nor data about their user base or possessions under YouHodler’s management. This is something you should certainly consider when using YouHodler. Proceeding to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. If this is right, it would indicate that Nexo is twice as big in regards to user base as Celsius with a much lower average

 

deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have actually mentioned together with other warnings in our previous video. Likewise, at the start of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform claims to handle $12B from 1.5 M users, which we think is a little a steep growth even if we think about the hype in the crypto area. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he describes Nexo as the leading managed banks for digital assets. I would be truly interested by whom Nexo is managed, as the business doesn’t have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the site. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance company that obviously is funding Nexo. According to our current research study, the executive board doesn’t even consist of Antoli, however only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “misuse of customers money”. When examining some of Nexo’s remarks from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is typically only promoting crypto and predicting costs but does not have any much deeper insights into the crypto lending space or how Nexo is operating. But that’s just our impression from his Bloomberg talks. Likewise, Nexo is the only platform that provides interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not legal representatives, we struggle to comprehend the legal setup under which Nexo is using its services. Now that we have reviewed some of the track records of the 4 mentioned platforms, let’s briefly go over the functionality of every crypto lending site. Celsius has actually started as a native mobile app. The app is well developed and it includes numerous 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 used rates. You can transfer and withdraw supported coins however there is no exchange, so if you don’t deposit your cryptos from another wallet, you can acquire them straight through the app. Note, nevertheless, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital properties. BlockiFi makes a less developed impression. The app is very basic and so is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform also offers a dedicated exchange so you can even trade them. We don’t recommend this feature that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just offered to U.S. people, the platform is also dealing with a Bitcoin benefits charge card which will be competing with the charge card from Crypto.com YouHodler offers some of the most innovative services among the crypto loaning platforms. Presently, the platform supports 18 digital

 

currencies on which you are able to make interest. YouHodler permits you to exchange between different currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are very low, so you do not need to move hundreds of Dollars or euros 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 only make interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler likewise offers you the alternative to obtain fiat money in exchange for collateral. The platform presently supports just loans in us euros or dollars. YouHodler is likewise among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also uses two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic financiers. As the functionality of those features goes beyond this video, you can learn how it operates in our devoted youhodler evaluation on p2pempire. Nexo’s functionality is similar to Celsius Network. Nexo is also utilizing its energy tokens to use much better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals monthly. 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 also offers you to buy, or exchange crypto if you wish to hold your possessions in numerous currencies. Now you have a truly solid idea of what every crypto financing platform is offering. What you must think about however, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys anymore and your possessions might get jeopardized either by 3rd parties or by the platform itself. It’s like depositing your crypto on the exchange – if you don’t own the keys, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the fact that you Series B Youhodler

 

The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this strategy is that you will only benefit 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. Based on our thorough contrast, let’s have a look at our independent scores of every category for every platform.