Looking for Youhodler Faq…Much of you have requested a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business model of individual platforms, the return rates, the reliability and track record, usability of their apps and we will also speak about some of the risks that you need to think about when transferring your crypto on one of these platforms. We will also round up the contrast with our independent rating of the just-mentioned classifications for each platform. Keep seeing up until the end to find out how we scored specific platforms. If you are brand-new to this channel and your goal is to become a more informed P2P financier,

 

think about 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 before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto loaning platform worldwide, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users using Celsius Network to earn or take a crypto loan interest on their stablecoins and cryptocurrencies. In overall, Celsius manages more than $17 B worth of properties. The platform offers its services worldwide, however, they are currently not releasing loans in the United States due to regional guidelines. BlockFi is the largest

youhodler crypto interest loans, platform for users

The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of approved countries. Nexo is another European platform that uses crypto enthusiasts the alternative to make interest not just on their coins but also fiat deposits. Nexo is in reality, one of only 2, to us understood, crypto loaning platforms that offer interest on fiat deposits.

 

And the platform is likewise planning to introduce a BlockFi credit card which will generate another income stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the debtors. That’s at least our interpretation from Nexo’s service design as the platform does not have A dedicated area about

money fees on celsius services priced about stablecoins  profit margin Youhodler Faq

If you are viewing this video, you want to make money by depositing your coins on one of the platforms? Every platform has certain limitations and terms when it comes to using interest on your coins. You are just able to earn greater rates if you decide to get the interest in Celsius’s own energy token.

 

9% per year. What’s worth discussing is that if you wish to save some costs, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not need to pay the large gas cost, as the currency works on the Binance Smart Chain with method lower fees in contrast to stablecoins that work on the ethereum network. The Binance USD coin is currently 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 higher rewards for those who wish to receive 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 must bear in mind is that platforms tend to change the rates from time to time, so you can’t truly predict the real return from your deposits. Keep in mind that by transferring your crypto, the value of the currency may 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 trustworthiness of the platforms and their track record. Celsius Network is most likely the most genuine platform in this area. The creator Alex Mashinsky is a popular entrepreneur. Prior to introducing the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the development and examine some of the stats. As we are tape-recording this video, there are over 650,000 users and the platform is managing $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Faq

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The platform is not transparent when it comes to sharing its monetary reports, however with a little bit of digging, you can get your hands on the financial report for 2020, where you will find out that the platform is not profitable. BlockFi is likewise funded by lots of institutional financiers and the platform is mainly targeting the United States market. According to our research, it appears like he has transferred to Switzerland to launch his crypto lending platform YouHodler in 2017.

 

At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform claims to handle $12B from 1.5 M users, which we think is a bit of a steep development even if we think about the buzz in the crypto space. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our recent research, the executive board does not even include 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 financing platform, which is known for the “misuse of clients cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have evaluated 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 only available to U.S. residents, the platform is also working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler offers some of the most innovative services among the crypto loaning platforms.

 

YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly strong idea of what every crypto financing platform is offering. What you must think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets any longer and your properties might get jeopardized either by third celebrations or by the platform itself. Youhodler Faq

 

The only method to protect your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The drawback of this strategy is that you will only benefit from the increased value of your coin but not the interest on your deposits, which is something you can do on one of the crypto loaning platforms. Based on our in-depth contrast, let’s have an appearance at our independent ratings of every category for every platform.

Looking for Youhodler Faq…Numerous of you have requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the organization model of private platforms, the return rates, the credibility and track record, use of their apps and we will likewise talk about some of the risks that you should consider when transferring your crypto on one of these platforms.

 

Let’s very first provide you a brief introduction to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. The platform provides its services worldwide, however, they are currently not providing loans in the United States due to regional regulations.

youhodler crypto interest loans, platform for users

The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of sanctioned countries. Nexo is another European platform that offers crypto enthusiasts the option to make interest not just on their coins but likewise fiat deposits. Nexo is in reality, one of only two, to us understood, crypto lending platforms that provide interest on fiat deposits.

 

let’s speak about how they earn money in the first place. So Celsius generates income from the interest they credit the customers which are either retail borrowers or organizations, they likewise earn money from their CEL token which is an utility token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which implies that Celsius utilizes the collateral from the borrowers and deploys it in order to generate extra earnings. BlockFi is also making money through the interest that is being charged to borrowers. The platform also charges a 2% origination fee for anybody who desires to take a loan. Another income stream is BlockFi’s exchange feature. When exchanging currencies, the platform makes cash from the spread. BlockFi likewise charges withdrawal costs after your one totally free withdrawal per month. And the platform is also planning to release a BlockFi charge card which will generate another income stream. YouHodler is likewise earning money from the interest charged to customers. There is a little withdrawal fee and costs for extra services such as the Multi HODL tool, which is a function that lets you utilize your crypto properties in exchange for prospective returns. Like all the other platforms, Nexo likewise 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 service design as the platform doesn’t have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Youhodler Faq

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

 

9% annually. What’s worth discussing is that if you want to conserve some fees, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not need to pay the substantial gas fee, as the currency works on the Binance Smart Chain with method lower costs in comparison to stablecoins that operate on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler provides currently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. 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 greater benefits for those who wish to receive the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to remember is that platforms tend to adjust the rates from time to time, so you can’t truly predict the real return from your deposits. Also, remember that by depositing your crypto, the worth of the currency may decrease Which will make it hard for you to liquidate your assets if that’s something you would otherwise consider. Now, that you are aware of the returns let’s briefly evaluation the trustworthiness of the platforms and their track record. Celsius Network is likely the most genuine platform in this space. The creator Alex Mashinsky is a widely known entrepreneur. Prior to introducing the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are also able to monitor the progress and review a few of the data. As we are tape-recording this video, there are over 650,000 users and the platform is managing $17 billion worth of possessions. Alone in the last 12 months, Celsius has Youhodler Faq

bitcoin amount of lending service with value feature trading

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 attending to the most frequently asked questions, which is something rather rare in this space. The platform is not transparent when it comes to sharing its monetary reports, but with a bit of digging, you can get your hands on the financial report for 2020, where you will discover that the platform is not rewarding yet. 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 financed by lots of institutional investors and the platform is primarily targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are readily available Only for U.S residents as BlockFi has the necessary lending licenses just in the U.S. , if you desire to check BlockFi’s data you won’t be pleased as there are none available.. Some external sources suggest that there are more than 125,000 registered users, nevertheless, we were unable to validate any of those claims straight 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 moved to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has been praised by a few of you in the comments on previous videos, sadly, the platform isn’t publicly exposing any financial reports, nor statistics about their user base or assets under YouHodler’s management. When utilizing YouHodler, this is something you must 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 appropriate, it would indicate that Nexo is two times as huge in terms of user base as Celsius with a much lower average

 

deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have actually explained together with other red flags in our previous video. Also, at the start of January, Nexo had just $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 little bit of a steep development even if we consider the buzz in the crypto space. 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 fashion Retail market. On his LinkedIn profile, he describes Nexo as the leading regulated financial institution for digital assets. I would be really interested by whom Nexo is controlled, as the company does not have a loaning license in Estonia, where they are a legal entity Nexo Solutions OU is based. Throughout our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the website. The 2nd co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance loan business that obviously is financing Nexo. According to our current research study, the executive board doesn’t even consist of Antoli, but just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “abuse of customers cash”. Likewise when evaluating some of Nexo’s remarks from the CEO

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in the media, he is typically only promoting crypto and forecasting prices but lacks any much deeper insights into the crypto loaning area or how Nexo is running. However 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 offer interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Even though we are not lawyers, we have a hard time to understand the legal setup under which Nexo is using its services. So now that we have examined some of the performance history of the four mentioned platforms, let’s briefly discuss the use of every crypto financing site. Celsius has started as a native mobile app. The app is well developed and it comes with various security features such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how many possessions you are holding and what are the currently provided rates. You can move and withdraw supported coins but there is no exchange, so if you do not deposit your cryptos from another wallet, you can purchase them directly through the app. Note, however, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less industrialized impression. The app is very basic therefore is the desktop variation of the platform. BlockFi supports currently just 10 digital currencies. The platform likewise uses a devoted exchange so you can even trade them. We do not recommend this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are only offered to U.S. residents, the platform is also dealing with a Bitcoin rewards charge card which will be taking on the credit card from Crypto.com YouHodler provides some of the most innovative services amongst the crypto lending platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have an actually strong concept of what every crypto loaning platform is using. What you ought to think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets any longer and your assets may get jeopardized either by third celebrations or by the platform itself. Youhodler Faq

 

The only method to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The drawback of this strategy is that you will just 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 loaning platforms. Based on our in-depth comparison, let’s have a look at our independent ratings of every category for every platform.