Looking for Youhodler France…Many of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the business design of private platforms, the return rates, the trustworthiness and track record, usability of their apps and we will also talk about some of the threats that you ought to consider when depositing your crypto on one of these platforms.
consider subscribing and struck the like button to see more content like this in the future. So let’s first offer you a brief intro to every platform prior to we dive deeper into the comparison. 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 take a crypto loan or make interest on their stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of properties. The platform provides its services worldwide, nevertheless, they are currently not issuing loans in the United States due to local guidelines. BlockFi is the biggest
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competitor to Celsius Network. The US-based business has trading and loaning licenses in numerous US states. , if you are looking for a wealth-management app for your crypto possessions BlockFi is certainly worth considering.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of sanctioned countries. YouHodler is likely the most genuine crypto financing platform in Europe. The company is registered in Cyprus, with a devoted branch in Switzerland. YouHodler provides extremely competitive rates on your crypto assets as well as a number of other functions which you will not find on any other platforms. The platform is readily available in lots of nations with the exception of Germany and the U.S.A.. If you reside in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto lovers the alternative to make interest not only on their coins but likewise fiat deposits. Nexo is in reality, among only 2, to us known, crypto lending platforms that offer interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a short introduction of every platform
And the platform is also preparing 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 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 viewing this video, you want to make money by transferring your coins on one of the platforms? Every platform has certain limits and terms when it comes to offering interest on your coins. You are only able to earn greater rates if you choose to get the interest in Celsius’s own utility token.
You can make 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 uses greater rewards for those who desire to receive the interest in the native NEXO tokens instead of the deposited currency. What you must keep in mind is that platforms tend to change the rates from time to time, so you can’t actually predict the real return from your deposits. Youhodler France
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The platform is not transparent when it comes to sharing its financial 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 rewarding. BlockFi is also funded by lots of institutional financiers and the platform is mainly targeting the US market. According to our research study, it seems like he has relocated to Switzerland to release 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 explained together with other red flags in our previous video. Likewise, at the start of January, Nexo had just $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 little bit of a high development even if we think about the hype in the crypto area. 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 style Retail market. On his LinkedIn profile, he explains Nexo as the leading regulated banks for digital properties. I would be really interested by whom Nexo is managed, as the business does not have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan company that obviously is financing Nexo. According to our current research, the executive board does not even include Antoli, but only 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 known for the “misuse of clients cash”. When examining some of Nexo’s remarks from the CEO
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Nexo is the only platform that uses interest on fiat. Now that we have actually reviewed some of the track records of the 4 discussed platforms, let’s briefly go over the functionality of every crypto financing website. While the crypto loans on BlockFi are only available to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be completing with the credit card from Crypto.com YouHodler provides some of the most advanced services among the crypto financing platforms.
YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have an actually strong concept of what every crypto lending platform is using. What you need to think about though, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your possessions might get jeopardized either by third celebrations or by the platform itself. Youhodler France
give up your ownership of the assets as long as you hold them in the platform’s wallet. The only method to protect your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the very best method to keep your cryptos safe. The drawback of this method is that you will just benefit from the increased value of your coin however not the interest on your deposits, which is something you can do on one of the crypto loaning platforms. As with any investment, it constantly comes down to the risk and return and your risk profile. So based upon our in-depth contrast, let’s have a look at our independent ratings of every classification for each platform. Keep in mind, that we have appointed the ratings based upon our own research. One represents the lowest rating while five stands for the highest ranking. Within the business design classification.