Youhodler Token Contract Address – Your Answered Faq

Looking for Youhodler Token Contract Address…Many of you have asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing business model of private platforms, the return rates, the trustworthiness and performance history, usability of their apps and we will likewise talk about a few of the threats that you should consider when depositing your crypto on one of these platforms. We will likewise round up the comparison with our independent score of the just-mentioned categories for each platform. Keep watching until the end to find out how we scored private platforms. If you are new to this channel and your goal is to become a more educated P2P financier,

 

Let’s first provide you a short intro to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform in the world, which was founded in 2017 by Alex Mashinsky. The platform offers its services worldwide, nevertheless, they are presently not issuing loans in the United States due to regional policies.

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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 approved countries. Nexo is another European platform that offers crypto enthusiasts the option to make interest not only on their coins but also fiat deposits. Nexo is in reality, one of just 2, to us known, crypto loaning platforms that use interest on fiat deposits.

 

And the platform is likewise planning to launch 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 organization model as the platform does not have A devoted section about

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this on their site. Now let’s speak about the returns. If you are viewing this video, you want to make money by depositing your coins on one of the platforms right? Prior to we compare the rates, there are a few things that you must think about though. Every platform has certain limits and terms when it concerns providing interest on your coins. So for example, Celsius Network alters the rates every week to show the existing market scenario. You are only able to earn greater rates if you choose to get the interest in Celsius’s own energy token. The greater reward rates are likewise not offered for United States residents. If you would not want to pay your rewards in the CEL token, you can currently expect to receive 5.05% on your Ethereum, 3.51% on your Bitcoin, and 10% interest on your deposits in Binance USD or USDC which is the stablecoin from Coinbase. On BlockFi, the rate for your Ethereum and Bitcoin deposits depends upon the number of your possessions. The more bitcoin or ethereum you deposit, the less interest you will get. The interest rate for Ethereum varieties in between 0.5% and 4.5%, the rate for bitcoin is in between 0.5% and 5%, and the rate for the two stablecoins is currently at

 

You can make 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 offers greater benefits for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. What you need to keep in mind is that platforms tend to change the rates from time to time, so you can’t really forecast the genuine return from your deposits. Youhodler Token Contract Address

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paid more than $367 M worth of rewards. While we haven’t managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is addressing the most frequently asked questions, which is something rather unusual in this space. 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 discover that the platform is not successful yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement area instead of the fintech area. BlockFi is also funded by lots of institutional financiers and the platform is mainly targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Only for U.S residents as BlockFi has the necessary financing licenses just in the U.S. , if you want to check BlockFi’s statistics you won’t be happy as there are none available.. Some external sources suggest that there are more than 125,000 signed up users, however, 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 area in Russia. According to our research, it looks like he has actually moved to Switzerland to introduce his crypto loaning platform YouHodler in 2017. I know that YouHodler has actually been applauded by some of you in the comments on previous videos, unfortunately, the platform isn’t publicly exposing any financial reports, nor statistics about their user base or properties under YouHodler’s management. When using YouHodler, this is something you ought to definitely think about. Moving on to Nexo. Nexo declares to handle $12 B worth of assets from more than 1.5 M of users. If this is appropriate, it would mean that Nexo is twice as huge in terms of user base as Celsius with a much lower average

 

At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a steep growth even if we consider the buzz in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that obviously is financing Nexo. According to our recent research study, the executive board doesn’t even consist of 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 lending platform, which is known for the “abuse of customers cash”.

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in the media, he is frequently only promoting crypto and predicting costs but does not have any deeper insights into the crypto lending area or how Nexo is operating. That’s simply our impression from his Bloomberg talks. Likewise, Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not provide interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Despite the fact that we are not attorneys, we have a hard time to understand the legal setup under which Nexo is using its services. So now that we have actually reviewed some of the track records of the 4 mentioned platforms, let’s briefly review the usability of every crypto loaning site. Celsius has actually begun as a native mobile app. The app is well established and it comes with different security features such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how lots of possessions you are holding and what are the presently offered rates. You can withdraw and transfer supported coins but there is no exchange, so if you do not transfer your cryptos from another wallet, you can acquire them straight through the app. Keep in mind, however, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less developed impression. The app is extremely simple therefore is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform also uses a dedicated exchange so you can even trade them. We don’t recommend this function that much as the currency exchange rate are not the very best. While the crypto loans on BlockFi are just available to U.S. people, the platform is also dealing with a Bitcoin benefits charge card which will be taking on the charge card from Crypto.com YouHodler offers some of the most advanced services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

currencies on which you are able to make interest. YouHodler enables you to exchange between numerous currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are really low, so you do not require to move numerous Dollars or euros to check 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 earn interest on your crypto assets. Apart from making interest on your deposits or exchanging cryptos, YouHodler likewise provides you the choice to borrow fiat money in exchange for collateral. The platform presently supports just loans in us dollars or euros. YouHodler is also among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also offers 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the functionality of those features goes beyond this video, you can learn how it operates in our dedicated youhodler review on p2pempire. Nexo’s use resembles Celsius Network. Nexo is also utilizing its utility tokens to offer better rates on loans, higher interests on crypto and fiat deposits, or more complimentary withdrawals each month. If you choose to stake your coins or fiat, meaning you lock your possessions for a specified term, you can get a greater interest rate. Like BlockFi, Nexo likewise uses you to buy, or exchange crypto if you want to hold your properties in numerous currencies. Now you have a really solid concept of what every crypto loaning platform is offering. What you ought to think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your personal secrets anymore and your assets may get jeopardized either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you do not own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are really clear about the truth that you Youhodler Token Contract Address

 

The only way to secure your crypto is to save 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 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 comparison, let’s have a look at our independent ratings of every category for every platform.