Find Halal Cryptocurrency Exchange – Loans

Looking for Halal Cryptocurrency Exchange…Much of you have requested a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the business model of individual platforms, the return rates, the reliability and track record, functionality of their apps and we will likewise speak about a few of the risks that you ought to think about when transferring your crypto on among these platforms. We will also assemble the comparison with our independent score of the just-mentioned categories for every platform. Keep watching till the end to discover out how we scored individual platforms. if you are brand-new to this channel and your goal is to become a more educated P2P financier

 

Let’s first provide you a short introduction to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform in the world, which was founded in 2017 by Alex Mashinsky. The platform uses its services worldwide, however, they are currently not issuing loans in the United States due to local guidelines.

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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 properties 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 most likely the most legitimate crypto financing platform in Europe. The business is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler provides very competitive rates on your crypto properties as well as several other functions which you will not discover on any other platforms. The platform is available in lots of countries with the exception of Germany and the USA. So if you reside in the states, you will not be able to use YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the choice to earn interest not only on their coins however likewise fiat deposits. Nexo is in reality, among only 2, to us understood, crypto loaning platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. Now that you have a quick summary of every platform

 

And the platform is also preparing to introduce a BlockFi credit card which will generate another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. That’s at least our interpretation from Nexo’s organization design as the platform does not have A dedicated area about

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this on their website. Now let’s discuss the returns. If you are enjoying this video, you wish to generate income by transferring your coins on one of the platforms right? Prior to we compare the rates, there are a couple of things that you need to consider though. When it comes to offering interest on your coins, every platform has specific limitations and terms. For example, Celsius Network alters the rates every week to show the current market situation. You are only able to make greater rates if you decide to get the interest in Celsius’s own utility token. The higher reward rates are also not available for United States residents. If you would not wish to pay out your rewards in the CEL token, you can presently anticipate to get 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 assets. The more bitcoin or ethereum you deposit, the less interest you will get. The rates of interest for Ethereum ranges in between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

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 provides higher 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. Halal Cryptocurrency Exchange

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paid more than $367 M worth of rewards. While we haven’t managed to get answers to our questions, the CEO does hold a weekly AMA session where he is resolving the most frequently asked questions, which is something rather rare in this space. 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 profitable. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development space instead of the fintech space. BlockFi is likewise funded by lots of institutional investors and the platform is mainly targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are offered Only for U.S people as BlockFi has the required financing licenses just in the U.S. , if you desire to examine BlockFi’s statistics you will not be delighted as there are none offered.. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were not able to verify any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research study, it seems like he has actually moved to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been applauded by a few of you in the comments on previous videos, regrettably, the platform isn’t publicly revealing any monetary reports, nor statistics about their user base or properties under YouHodler’s management. When using YouHodler, this is something you must certainly consider. Proceeding to Nexo. Nexo claims to handle $12 B worth of properties from more than 1.5 M of users. If this is correct, it would suggest that Nexo is two times as huge in regards to user base as Celsius with a much lower average

 

deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have pointed out together with other warnings in our previous video. Likewise, at the start of January, Nexo had only $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 little bit of a high growth even if we think about 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 political leader with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital possessions. I would be truly interested by whom Nexo is regulated, as the company does not have a loaning license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the website. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our recent research study, the executive board does not even include Antoli, however just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is understood for the “misuse of customers money”. Also when reviewing some of Nexo’s comments from the CEO

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in the media, he is often only promoting crypto and predicting rates however lacks any deeper insights into the crypto loaning space or how Nexo is operating. However that’s just our impression from his Bloomberg talks. Also, Nexo is the only platform that offers interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not lawyers, we struggle to comprehend the legal setup under which Nexo is using its services. Now that we have reviewed some of the track records of the 4 pointed out platforms, let’s briefly go over the use of every crypto loaning site. Celsius has actually started as a native mobile app. The app is well established and it features various security functions such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how numerous properties you are holding and what are the currently offered rates. You can withdraw and transfer supported coins however there is no exchange, so if you do not deposit your cryptos from another wallet, you can purchase them directly through the app. Keep in mind, nevertheless, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital possessions. BlockiFi makes a less developed impression. The app is extremely simple therefore is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform likewise offers a dedicated exchange so you can even trade them. We don’t recommend this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are only available to U.S. people, the platform is also working on a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler provides a few of the most sophisticated 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 different currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are really low, so you don’t need to move numerous Euros or Dollars 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 just make interest on your crypto possessions. Apart from making interest on your deposits or exchanging cryptos, YouHodler also uses you the alternative to obtain fiat money in exchange for security. The platform presently supports just loans in us dollars or euros. YouHodler is also among the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the functionality of those functions exceeds this video, you can find out how it operates in our dedicated youhodler evaluation on p2pempire. Nexo’s functionality is similar to Celsius Network. Nexo is likewise using its energy tokens to provide better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals per month. Also if you choose to stake your coins or fiat, meaning you lock your properties for a defined term, you can get a higher interest rate. Like BlockFi, Nexo likewise provides you to purchase, or exchange crypto if you wish to hold your assets in various currencies. Now you have an actually solid concept of what every crypto lending platform is offering. What you ought to think about however, is that as soon as you transfer your crypto on any platform, you are not owning your private secrets anymore and your assets may get jeopardized either by 3rd parties or by the platform itself. It’s like depositing your crypto on the exchange – if you do not own the secrets, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are really clear about the fact that you Halal Cryptocurrency Exchange

 

The only way to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. The disadvantage of this strategy is that you will only 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 lending platforms. Based on our thorough comparison, let’s have an appearance at our independent ratings of every category for every platform.