Youhodler Crypto Wealth Management – Your Answered Faq

Looking for Youhodler Crypto Wealth Management…Numerous of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the business model of private platforms, the return rates, the reliability and track record, functionality of their apps and we will likewise talk about some of the threats that you need to consider when depositing your crypto on one of these platforms.

 

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 comparison. Celsius Network is the fastest-growing crypto financing platform worldwide, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or make interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of assets. The platform offers its services worldwide, nevertheless, they are presently not releasing loans in the United States due to local 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 looking for a wealth-management app for your crypto assets BlockFi is definitely worth thinking about.. The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned countries. YouHodler is likely the most genuine crypto financing platform in Europe. The company is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler offers really competitive rates on your crypto properties as well as numerous other features which you won’t find on any other platforms. The platform is offered in many nations 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 offers crypto enthusiasts the option to earn interest not just on their coins but also fiat deposits. Nexo remains in reality, among just 2, to us known, crypto financing 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 overview of every platform

 

And the platform is also preparing to release 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 borrowers. That’s at least our analysis from Nexo’s service design as the platform doesn’t have A devoted section about

money fees on celsius services priced about stablecoins  profit margin Youhodler Crypto Wealth Management

If you are enjoying this video, you want to make money by transferring your coins on one of the platforms? Every platform has certain limitations and terms when it comes to offering interest on your coins. You are only able to earn higher rates if you choose to get the interest in Celsius’s own energy 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 provides higher rewards for those who desire to get the interest in the native NEXO tokens rather of the deposited currency. What you should keep in mind is that platforms tend to adjust the rates from time to time, so you can’t actually predict the real return from your deposits. Youhodler Crypto Wealth Management

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paid out 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 addressing the most frequently asked questions, which is something rather uncommon in this area. The platform is not transparent when it concerns sharing its financial reports, however with a little bit of digging, you can get your hands on the monetary report for 2020, where you will discover 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 business development space rather than the fintech space. BlockFi is also funded by lots of institutional investors and the platform is generally targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are offered Just for U.S residents as BlockFi has the necessary financing licenses just in the U.S. If you wish to check BlockFi’s stats you will not enjoy as there are none available. Some external sources suggest that there are more than 125,000 signed up 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 appears like he has actually relocated to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been applauded by a few of you in the discuss previous videos, sadly, the platform isn’t publicly revealing any monetary reports, nor statistics about their user base or properties under YouHodler’s management. This is something you should certainly think about when utilizing YouHodler. Carrying on to Nexo. Nexo claims to manage $12 B worth of possessions from more than 1.5 M of users. It would mean that Nexo is two times as huge in terms of user base as Celsius with a much lower average if this is correct

 

At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform declares to manage $12B from 1.5 M users, which we think is a bit of a steep development even if we consider the hype in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that obviously is funding Nexo. According to our current research study, the executive board does not even consist of Antoli, however just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is understood for the “abuse of clients cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have actually reviewed some of the track records of the four mentioned platforms, let’s briefly go over the use of every crypto financing site. While the crypto loans on BlockFi are just readily available to U.S. citizens, the platform is also working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most innovative services amongst the crypto financing platforms.

 

currencies on which you have the ability to earn interest. YouHodler permits you to exchange in between various currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are really low, so you don’t require to move 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 only make interest on your crypto properties. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also uses you the option to obtain fiat money in exchange for security. The platform currently supports only loans in us dollars or euros. YouHodler is likewise among the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler likewise offers 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the performance of those features exceeds this video, you can find out how it works in our dedicated youhodler review on p2pempire. Nexo’s functionality is similar to Celsius Network. Nexo is likewise utilizing its energy tokens to offer better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals per month. Also if you choose to stake your coins or fiat, meaning you lock your properties for a specified term, you can get a higher rates of interest. Like BlockFi, Nexo likewise offers you to buy, or exchange crypto if you wish to hold your properties in different currencies. Now you have a truly strong idea of what every crypto lending platform is providing. What you must think about though, is that as quickly as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your properties may get compromised either by 3rd 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 anymore. Platforms like Celsius and BlockFi are very clear about the fact that you Youhodler Crypto Wealth Management

 

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 best way to keep your cryptos safe. The downside of this technique is that you will just take advantage of 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. However, as with any investment, it constantly comes down to the risk and return and your threat profile. So based on our thorough comparison, let’s take a look at our independent scores of every classification for each platform. Keep in mind, that we have actually assigned the scores based upon our own research study. One represents the lowest score while five mean the greatest score. Within business model classification.