Youhodler Cos è РYour Answered Faq

Looking for Youhodler Cos √®…Many of you have actually requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the service 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 dangers that you must consider when depositing your crypto on one of these platforms.

 

think about subscribing and hit the like button to see more material like this in the future. So let’s very first offer you a quick intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform on the planet, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users utilizing Celsius Network to earn or take a crypto loan interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of assets. The platform uses its services worldwide, however, they are currently not providing loans in the United States due to local regulations. BlockFi is the largest

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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 possessions BlockFi is definitely worth thinking about. The platform uses crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of approved nations. YouHodler is likely the most genuine crypto lending platform in Europe. The company is registered in Cyprus, with a devoted branch in Switzerland. YouHodler provides extremely competitive rates on your crypto assets along with several other functions which you will not discover on any other platforms. The platform is available in lots of nations with the exception of Germany and the U.S.A.. If you reside in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not only on their coins but also fiat deposits. Nexo remains in fact, one of just two, to us known, crypto loaning platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a brief introduction of every platform

 

And the platform is also preparing to introduce a BlockFi credit card which will create another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. That’s at least our interpretation from Nexo’s business model as the platform doesn’t have A dedicated area about

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If you are seeing this video, you desire to make money by transferring your coins on one of the platforms? Every platform has particular limits and terms when it comes to offering interest on your coins. You are just able to make higher rates if you choose to receive the interest in Celsius’s own utility token.

 

9% annually. What deserves mentioning is that if you want to save some charges, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not require to pay the substantial gas cost, as the currency operates on the Binance Smart Chain with way lower costs in comparison to stablecoins that work on the ethereum network. The Binance USD coin is presently only 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 get 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 truly anticipate the genuine return from your deposits. Keep in mind that by transferring your crypto, the value of the currency might reduce Which will make it hard for you to liquidate your possessions if that’s something you would otherwise think about. Now, that you are mindful of the returns let’s briefly review the credibility of the platforms and their track record. Celsius Network is likely the most genuine platform in this area. The creator Alex Mashinsky is a widely known business owner. Before 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 monitor the development and examine 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 Youhodler Cos √®

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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 addressing the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it pertains to sharing its financial 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 profitable yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development area rather than the fintech space. BlockFi is likewise funded by numerous institutional financiers and the platform is primarily targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are offered Just for U.S citizens as BlockFi has the necessary financing licenses just in the U.S. If you want to check BlockFi’s data you will not be happy as there are none available. Some external sources recommend 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 area in Russia. According to our research, it looks like he has relocated to Switzerland to launch his crypto lending platform YouHodler in 2017. I know that YouHodler has been applauded by some of you in the discuss previous videos, sadly, the platform isn’t openly exposing any financial reports, nor data about their user base or assets under YouHodler’s management. When using YouHodler, this is something you ought to certainly think about. Carrying on to Nexo. Nexo claims to manage $12 B worth of properties from more than 1.5 M of users. If this is right, it would mean that Nexo is two times as big in terms of user base as Celsius with a much lower average

 

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 steep growth even if we consider the hype in the crypto area. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our recent research, the executive board does not even consist of Antoli, but just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “abuse of customers money”.

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Nexo is the only platform that uses interest on fiat. Now that we have examined some of the track records of the four discussed platforms, let’s briefly go over the usability of every crypto loaning site. While the crypto loans on BlockFi are just offered to U.S. residents, the platform is also working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler provides some of the most advanced services among the crypto loaning platforms.

 

currencies on which you are able to earn interest. YouHodler permits you to exchange between various currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are very low, so you do not need to transfer numerous Dollars or euros to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can just make interest on your crypto assets. Apart from making interest on your deposits or exchanging cryptos, YouHodler also provides you the choice to obtain fiat money in exchange for collateral. The platform presently supports only 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 offers 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those functions exceeds this video, you can find out how it works in our devoted youhodler evaluation on p2pempire. Nexo’s use resembles Celsius Network. Nexo is likewise using its utility tokens to use much better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals monthly. If you decide to stake your coins or fiat, suggesting you lock your properties for a defined term, you can get a higher interest rate. Like BlockFi, Nexo likewise offers you to purchase, or exchange crypto if you wish to hold your assets in numerous currencies. Now you have a really solid idea of what every crypto lending platform is offering. What you ought to think about however, is that as quickly as you deposit your crypto on any platform, you are not owning your personal keys anymore and your possessions may get compromised either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are very clear about the fact that you Youhodler Cos √®

 

give up your ownership of the assets as long as you hold them in the platform’s wallet. The only way to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. That’s the best method to keep your cryptos safe. The downside of this strategy is that you will only benefit from the increased worth of your coin but not the interest on your deposits, which is something you can do on one of the crypto lending platforms. But, as with any investment, it constantly boils down to the danger and return and your threat profile. So based upon our thorough contrast, let’s have a look at our independent ratings of every category for every single platform. Keep in mind, that we have appointed the ratings based upon our own research study. One represents the lowest ranking while 5 represent the greatest score. Within the business model classification.