Find Juntao Hodlonaut – Loans

Looking for Juntao Hodlonaut…Many of you have actually requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the service design of individual platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will likewise talk about some of the risks that you ought to think about when depositing your crypto on one of these platforms.

 

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

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The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of sanctioned nations. Nexo is another European platform that provides crypto lovers the alternative to make interest not only on their coins however also fiat deposits. Nexo is in fact, one of just two, to us understood, crypto financing platforms that provide interest on fiat deposits.

 

And the platform is likewise planning to release a BlockFi credit card which will produce another earnings 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 interpretation from Nexo’s company design as the platform does not have A dedicated area about

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this on their website. Now let’s speak about the returns. If you are watching this video, you want to generate income by depositing your coins on one of the platforms right? Before we compare the rates, there are a few things that you should consider however. Every platform has specific limitations and terms when it concerns offering interest on your coins. So for instance, Celsius Network alters the rates each week to reflect the present market situation. Also, you are only able to make higher rates if you choose to get the interest in Celsius’s own energy token. The higher reward rates are also not available for US residents. If you would not wish to pay out your rewards in the CEL token, you can presently anticipate 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 on the variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate 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

 

9% per year. What deserves mentioning is that if you want to conserve some costs, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not need to pay the hefty gas cost, as the currency runs on the Binance Smart Chain with way lower costs in comparison to stablecoins that work on the ethereum network. The Binance USD coin is presently just supported on Celsius Network and BlockFi. YouHodler provides currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility 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 rewards for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to bear in mind is that platforms tend to change the rates from time to time, so you can’t truly predict the real return from your deposits. Also, remember that by transferring your crypto, the value of the currency might reduce Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. Now, that you are aware of the returns let’s briefly evaluation the reliability of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this space. The creator Alex Mashinsky is a popular entrepreneur. Prior to releasing the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the progress and review some of the statistics. As we are taping this video, there are over 650,000 users and the platform is managing $17 billion worth of possessions. Alone in the last 12 months, Celsius has Juntao Hodlonaut

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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 discover out that the platform is not profitable. BlockFi is likewise funded by numerous institutional investors and the platform is generally targeting the US market. According to our research, it seems like he has moved to Switzerland to launch his crypto loaning platform YouHodler in 2017.

 

At the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later, the platform claims to manage $12B from 1.5 M users, which we believe is a bit of a high growth even if we think about the hype in the crypto space. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our current research study, the executive board doesn’t even include Antoli, however only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “abuse of customers money”.

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in the media, he is frequently only promoting crypto and forecasting rates but lacks any deeper insights into the crypto lending space or how Nexo is operating. That’s simply our impression from his Bloomberg talks. Nexo is the only platform that provides 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. Although we are not attorneys, we have a hard time to comprehend the legal setup under which Nexo is using its services. Now that we have actually examined some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto loaning website. Celsius has actually started as a native mobile app. The app is well developed and it comes with numerous security features such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you have the ability to see how many possessions 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 don’t deposit your cryptos from another wallet, you can purchase them straight through the app. Note, nevertheless, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital properties. BlockiFi makes a less industrialized impression. The app is very simple and so is the desktop variation of the platform. BlockFi supports currently 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 currency exchange rate are not the very best. While the crypto loans on BlockFi are just readily available to U.S. citizens, the platform is also dealing with a Bitcoin benefits credit card which will be taking on the credit card from Crypto.com YouHodler uses a few of the most innovative services amongst the crypto financing platforms. Currently, the platform supports 18 digital

 

YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have an actually solid idea of what every crypto lending platform is using. What you must think about however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys any longer and your possessions may get jeopardized either by 3rd parties or by the platform itself. Juntao Hodlonaut

 

The only way to safeguard your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this technique is that you will just benefit from the increased worth 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 thorough comparison, let’s have an appearance at our independent scores of every classification for every platform.