Looking for Youhodler Countries Supported…A number of you have actually asked for a contrast in 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 business model of individual platforms, the return rates, the trustworthiness and performance history, usability of their apps and we will likewise discuss some of the threats that you should consider 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 every single platform. Keep viewing until the end to find out how we scored individual platforms. If you are new to this channel and your goal is to become a more informed P2P investor,
consider subscribing and hit the like button to see more content like this in the future. So let’s first give you a quick introduction to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or make interest on their cryptocurrencies and stablecoins. In total, Celsius handles more than $17 B worth of possessions. The platform uses its services worldwide, nevertheless, they are presently not providing loans in the United States due to regional regulations. BlockFi is the largest
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rival to Celsius Network. The US-based company has trading and financing licenses in numerous US states. If you are trying to find a wealth-management app for your crypto properties BlockFi is definitely worth considering. The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of approved nations. YouHodler is likely the most legitimate crypto lending platform in Europe. The company is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler provides extremely competitive rates on your crypto possessions in addition to numerous other features which you will not discover on any other platforms. The platform is readily available in lots of countries 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 uses crypto lovers the choice to make interest not only on their coins however likewise fiat deposits. Nexo is in truth, among just two, to us known, crypto loaning platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a quick introduction of every platform
And the platform is also preparing to release a BlockFi credit card which will produce 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 company model as the platform does not have A dedicated area about
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If you are seeing this video, you desire to make money by depositing your coins on one of the platforms? Every platform has certain limitations and terms when it comes to providing interest on your coins. You are only able to make higher rates if you decide to get the interest in Celsius’s own utility token.
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 rewards for those who desire to receive the interest in the native NEXO tokens instead of the deposited currency. What you ought to keep in mind is that platforms tend to change the rates from time to time, so you can’t truly anticipate the real return from your deposits. Youhodler Countries Supported
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deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting standards as we have pointed out together with other warnings in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform claims to manage $12B from 1.5 M users, which we think is a bit of a steep development even if we consider the buzz in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian politician with experience in the fashion Retail market. On his LinkedIn profile, he describes Nexo as the leading regulated financial institution for digital assets. I would be actually interested by whom Nexo is regulated, as the company does not have a loaning license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that obviously is financing Nexo. According to our recent research study, the executive board does not even consist of Antoli, however just 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 “misuse of customers money”. When evaluating some of Nexo’s comments from the CEO
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in the media, he is frequently only promoting crypto and anticipating rates but lacks any deeper insights into the crypto lending space or how Nexo is running. But that’s simply our impression from his Bloomberg talks. Likewise, Nexo is the only platform that offers interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Even though we are not attorneys, we have a hard time to comprehend the legal setup under which Nexo is providing its services. So now that we have actually evaluated some of the performance history of the 4 discussed platforms, let’s briefly go over the usability of every crypto lending site. Celsius has actually started as a native mobile app. The app is well developed and it comes with numerous security functions such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you are able to see how many properties you are holding and what are the presently provided rates. You can transfer and withdraw supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can purchase them directly through the app. Keep in mind, nevertheless, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less industrialized impression. The app is extremely easy and so is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform also uses a devoted exchange so you can even trade them. We don’t recommend this feature that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only available to U.S. people, the platform is also working on a Bitcoin rewards charge card which will be taking on the credit card from Crypto.com YouHodler provides some of the most advanced services among the crypto financing platforms. Presently, the platform supports 18 digital
YouHodler is likewise one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have a truly strong idea of what every crypto loaning platform is providing. What you ought to consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys any longer and your properties might get jeopardized either by 3rd parties or by the platform itself. Youhodler Countries Supported
The only method to protect your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this technique is that you will just 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 comparison, let’s have an appearance at our independent rankings of every category for every platform.