Looking for Youhodler Frais…Many of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the business model of specific platforms, the return rates, the reliability and track record, usability of their apps and we will likewise talk about some of the dangers that you ought to consider when depositing your crypto on one of these platforms. We will likewise assemble the comparison with our independent score of the just-mentioned classifications for each platform. Keep seeing till 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 educated P2P investor,
think about subscribing and hit the like button to see more material like this in the future. So let’s first offer you a short introduction to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform on the planet, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of assets. The platform offers its services worldwide, nevertheless, they are presently not issuing loans in the United States due to local guidelines. BlockFi is the largest
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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 provides crypto enthusiasts the option to earn interest not just on their coins but likewise fiat deposits. Nexo is in reality, one of only two, to us understood, crypto financing platforms that offer interest on fiat deposits.
And the platform is likewise preparing to release a BlockFi credit card which will create another income stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. That’s at least our analysis from Nexo’s company model as the platform does not have A dedicated section about
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If you are watching 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 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 offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers greater benefits for those who want to get the interest in the native NEXO tokens instead of the deposited currency. What you must keep in mind is that platforms tend to adjust the rates from time to time, so you can’t actually forecast the genuine return from your deposits. Youhodler Frais
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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 monetary report for 2020, where you will discover out that the platform is not lucrative. BlockFi is likewise funded by lots of institutional investors and the platform is mainly targeting the US market. According to our research, it appears like he has relocated to Switzerland to introduce his crypto lending platform YouHodler in 2017.
deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting standards as we have actually pointed out together with other warnings in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a steep growth even if we consider the hype in the crypto area. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian politician with experience in the style Retail industry. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital properties. I would be really interested by whom Nexo is regulated, as the business doesn’t have a loaning license in Estonia, where they are a legal entity Nexo Services OU is based. During our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be found on the site. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan company that obviously is financing Nexo. According to our current research, the executive board doesn’t 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 lending platform, which is known for the “abuse of customers cash”. Also when examining some of Nexo’s remarks from the CEO
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in the media, he is frequently only promoting crypto and predicting prices but does not have any much deeper insights into the crypto financing space or how Nexo is operating. But that’s simply our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our understanding, you can not use interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not attorneys, we have a hard time to understand the legal setup under which Nexo is offering its services. So now that we have actually evaluated some of the track records of the four mentioned platforms, let’s briefly review the use of every crypto financing website. Celsius has started as a native mobile app. The app is well established and it includes various security functions such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how lots of possessions you are holding and what are the presently provided rates. You can transfer and withdraw supported coins however there is no exchange, so if you don’t transfer your cryptos from another wallet, you can buy them straight through the app. Keep in mind, however, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital possessions. BlockiFi makes a less developed impression. The app is extremely basic and so is the desktop version of the platform. BlockFi supports presently 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 only readily available to U.S. residents, the platform is likewise dealing with a Bitcoin rewards credit card which will be taking on the credit card from Crypto.com YouHodler uses some of the most sophisticated services amongst the crypto lending platforms. Currently, the platform supports 18 digital
YouHodler is likewise one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a really solid idea of what every crypto lending platform is offering. What you need to think about though, is that as soon as you deposit your crypto on any platform, you are not owning your private secrets any longer and your assets may get compromised either by third parties or by the platform itself. Youhodler Frais
The only method to safeguard your crypto is to store it on a devoted hardware wallet like this one from Trezor. The disadvantage of this method 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 thorough comparison, let’s have a look at our independent ratings of every category for every platform.