Looking for Foreign Exchange Cryptocurrency…Many of you have requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the organization model of individual platforms, the return rates, the reliability and track record, use of their apps and we will likewise talk about some of the risks that you need to think about when depositing your crypto on one of these platforms.
think about subscribing and hit the like button to see more material like this in the future. Let’s very first offer you a quick introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform worldwide, 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 overall, Celsius manages more than $17 B worth of properties. The platform uses its services worldwide, nevertheless, they are presently not providing loans in the United States due to local guidelines. BlockFi is the largest
youhodler crypto interest loans, platform for users
The platform uses 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 provides crypto lovers the alternative to make interest not only on their coins but likewise fiat deposits. Nexo is in reality, one of only 2, to us understood, crypto loaning platforms that provide interest on fiat deposits.
let’s discuss how they generate income in the first place. So Celsius makes money from the interest they charge to the borrowers which are either retail borrowers or institutions, they likewise make money from their CEL token which is an utility token that you can utilize to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which implies that Celsius utilizes the collateral from the customers and deploys it in order to produce extra income. BlockFi is likewise generating income through the interest that is being credited customers. In addition to that, the platform likewise charges a 2% origination cost for anybody who wants to take a loan. Another income stream is BlockFi’s exchange function. The platform earns money from the spread when exchanging currencies. BlockFi also charges withdrawal costs after your one complimentary withdrawal monthly. And the platform is also preparing to introduce a BlockFi credit card which will generate another income stream. YouHodler is also making money from the interest charged to debtors. There is a small withdrawal cost and charges for extra services such as the Multi HODL tool, which is a feature that lets you take advantage of your crypto properties in exchange for potential returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the debtors. Nexo also makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s organization design as the platform does not have A dedicated section about
money fees on celsius services priced about stablecoins profit margin Foreign Exchange Cryptocurrency
If you are enjoying this video, you desire 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 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 provides 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers higher benefits for those who want 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 genuine return from your deposits. Foreign Exchange Cryptocurrency
bitcoin amount of lending service with value feature trading
deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have pointed out together with other red flags in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform declares to handle $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 politician with experience in the fashion 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 managed, as the company does not have a lending license in Estonia, where they are a legal entity Nexo Provider 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 website. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance loan business that apparently is financing Nexo. According to our recent research study, the executive board does not even consist of Antoli, but 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 cash”. Also when evaluating a few of Nexo’s comments from the CEO
turbocharge stablecoins crypto assets coins investment profile
Nexo is the only platform that offers interest on fiat. Now that we have examined some of the track records of the 4 pointed out platforms, let’s briefly go over the usability of every crypto loaning website. While the crypto loans on BlockFi are just offered to U.S. citizens, 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 lending platforms.
YouHodler is likewise one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have a truly strong idea of what every crypto financing platform is providing. What you need to consider however, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets any longer and your possessions might get compromised either by 3rd celebrations or by the platform itself. Foreign Exchange Cryptocurrency
The only method to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside 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 in-depth comparison, let’s have an appearance at our independent scores of every category for every platform.