Looking for Youhodler Payment Methods…Many of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing business model of individual platforms, the return rates, the credibility and track record, use of their apps and we will likewise speak about some of the threats that you should consider when transferring your crypto on one of these platforms. We will likewise round up the contrast with our independent score of the just-mentioned categories for every single platform. So keep watching till completion to discover how we scored specific platforms. if you are brand-new to this channel and your goal is to become a more educated P2P investor
consider subscribing and hit the like button to see more content like this in the future. So let’s first offer you a brief introduction to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to earn or take a crypto loan interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of properties. The platform provides its services worldwide, however, they are presently not releasing loans in the United States due to local policies. BlockFi is the biggest
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved nations. Nexo is another European platform that offers crypto lovers the alternative to make interest not only on their coins however likewise fiat deposits. Nexo is in fact, one of only two, to us known, crypto loaning platforms that use interest on fiat deposits.
And the platform is also preparing to introduce a BlockFi credit card which will produce 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 doesn’t have A dedicated section about
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If you are viewing this video, you want to make cash by depositing your coins on one of the platforms? Every platform has particular limits and terms when it comes to offering interest on your coins. You are just able to earn higher rates if you decide to receive the interest in Celsius’s own utility token.
9% per year. What’s worth discussing is that if you want to save 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 large gas charge, as the currency works on the Binance Smart Chain with way lower charges in comparison to stablecoins that run 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 energy tokens. 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 benefits for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. The platform provides 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really predict the real return from your deposits. Keep in mind that by depositing your crypto, the value of the currency might decrease Which will make it hard for you to liquidate your assets if that’s something you would otherwise consider. So now, that you are aware of the returns let’s briefly evaluation the reliability of the platforms and their performance history. Celsius Network is likely the most legitimate platform in this area. The founder Alex Mashinsky is a widely known entrepreneur. Before introducing the Celsius network, he has co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep track of the development and examine a few of the statistics. As we are taping this video, there are over 650,000 users and the platform is managing $17 billion worth of assets. Alone in the last 12 months, Celsius has Youhodler Payment Methods
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The platform is not transparent when it comes to sharing its monetary 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 rewarding. BlockFi is also funded by numerous institutional investors and the platform is mainly targeting the United States market. According to our research study, it seems like he has actually moved to Switzerland to introduce his crypto loaning platform YouHodler in 2017.
deposit amount as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting standards as we have actually explained 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 claims to manage $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the hype in the crypto space. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, 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 properties. I would be truly interested by whom Nexo is managed, as the company does not have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. During 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 site. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance loan business that obviously is financing Nexo. According to our recent research study, the executive board doesn’t 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 financing platform, which is known for the “misuse of clients money”. When reviewing some of Nexo’s remarks from the CEO
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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 lending site. While the crypto loans on BlockFi are just readily available to U.S. citizens, the platform is also working on a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most advanced services amongst the crypto loaning platforms.
YouHodler is also one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have a truly strong idea of what every crypto lending platform is using. What you need to consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys anymore and your assets might get jeopardized either by third celebrations or by the platform itself. Youhodler Payment Methods
The only way to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The drawback of this method 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 lending platforms. Based on our extensive contrast, let’s have an appearance at our independent scores of every classification for every platform.