Youhodler Crypto Loan Review – Your Answered Faq

Looking for Youhodler Crypto Loan Review…Many of you have actually requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the service model of specific platforms, the return rates, the reliability and track record, use of their apps and we will also talk about some of the dangers that you need to consider when transferring your crypto on one of these platforms.

 

Let’s first provide you a quick 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 provides its services worldwide, however, they are currently not releasing loans in the United States due to regional policies.

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rival to Celsius Network. The US-based company has trading and loaning licenses in various 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 readily available around the world with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto loaning platform in Europe. The company is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers very competitive rates on your crypto possessions along with a number of other functions which you will not find on any other platforms. The platform is offered in numerous countries with the exception of Germany and the USA. So if you live in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that provides crypto lovers the option to earn interest not just on their coins but likewise fiat deposits. Nexo remains in fact, among only 2, to us known, crypto loaning platforms that use interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick summary of every platform

 

And the platform is likewise preparing 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 customers. That’s at least our analysis from Nexo’s company model as the platform doesn’t have A devoted area about

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If you are seeing this video, you want to make money by depositing your coins on one of the platforms? Every platform has certain limits and terms when it comes to providing 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.

 

You can earn 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses higher benefits for those who want to get the interest in the native NEXO tokens instead of the deposited currency. What you need to keep in mind is that platforms tend to change the rates from time to time, so you can’t actually anticipate the real return from your deposits. Youhodler Crypto Loan Review

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paid more than $367 M worth of benefits. While we have not managed to get answers to our questions, the CEO does hold a weekly AMA session where he is resolving the most frequently asked questions, which is something rather uncommon in this space. The platform is not transparent when it comes 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. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development area rather than the fintech space. BlockFi is likewise funded by many institutional investors and the platform is mainly targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are readily available Just for U.S people as BlockFi has the necessary financing licenses only in the U.S. , if you desire to check BlockFi’s data you will not be happy as there are none offered.. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were unable to verify any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research study, it looks like he has actually transferred to Switzerland to introduce his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been applauded by a few of you in the comments on previous videos, unfortunately, the platform isn’t openly revealing any financial reports, nor data about their user base or properties under YouHodler’s management. When utilizing YouHodler, this is something you should definitely think about. Carrying on to Nexo. Nexo declares to handle $12 B worth of assets from more than 1.5 M of users. It would indicate that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is appropriate

 

deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting standards as we have pointed out together with other red flags in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform declares to manage $12B from 1.5 M users, which we think is a bit of a steep growth even if we consider the buzz in the crypto area. So 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 industry. On his LinkedIn profile, he describes Nexo as the leading regulated banks for digital assets. I would be really interested by whom Nexo is managed, as the company doesn’t have a loaning license in Estonia, where they are a legal entity Nexo Solutions OU is based. Throughout our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan business that apparently is financing Nexo. According to our recent research study, the executive board does not even include Antoli, however just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “misuse of customers cash”. When evaluating some of Nexo’s remarks from the CEO

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in the media, he is frequently only promoting crypto and predicting rates but lacks any much deeper insights into the crypto financing space or how Nexo is running. But that’s just our impression from his Bloomberg talks. Nexo is the only platform that uses interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not legal representatives, we have a hard time to understand the legal setup under which Nexo is providing its services. Now that we have evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the usability of every crypto lending site. Celsius has started as a native mobile app. The app is well established and it features numerous security features such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how lots of properties you are holding and what are the currently used rates. You can withdraw and move supported coins but there is no exchange, so if you do not transfer your cryptos from another wallet, you can buy them directly through the app. Note, however, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less developed impression. The app is very simple and so is the desktop version of the platform. BlockFi supports currently only 10 digital currencies. The platform likewise offers a dedicated exchange so you can even trade them. We don’t advise this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are just available to U.S. citizens, the platform is likewise working on a Bitcoin benefits charge card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most innovative services among the crypto lending platforms. Currently, the platform supports 18 digital

 

currencies on which you are able to earn interest. YouHodler permits you to exchange between numerous currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit quantities are very low, so you do not need to move hundreds of Euros or Dollars 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 only earn interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also provides you the choice to obtain fiat money in exchange for security. The platform currently supports only loans in us euros or dollars. YouHodler is also among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those features exceeds this video, you can discover how it operates in our devoted youhodler review on p2pempire. Nexo’s use resembles Celsius Network. Nexo is likewise using its energy tokens to use better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals monthly. If you choose to stake your coins or fiat, indicating you lock your assets for a defined term, you can get a greater interest rate. Like BlockFi, Nexo likewise uses you to buy, or exchange crypto if you want to hold your possessions in different currencies. Now you have a really solid concept of what every crypto lending platform is using. What you ought to think about though, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys anymore and your possessions might 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 extremely clear about the truth that you Youhodler Crypto Loan Review

 

give up your ownership of the assets as long as you hold them in the platform’s wallet. The only method to secure your crypto is to save it on a devoted hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The disadvantage of this method is that you will just gain 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 loaning platforms. As with any investment, it always comes down to the risk and return and your threat profile. Based on our extensive comparison, let’s have an appearance at our independent scores of every category for every platform. Note, that we have appointed the scores based on our own research. One represents the most affordable rating while five represent the greatest ranking. Within the business model category.