Looking for Where Is Youhodler Located…A number of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business design of private platforms, the return rates, the trustworthiness and track record, usability of their apps and we will likewise talk about a few of the risks that you should consider when depositing your crypto on among these platforms. We will also round up the comparison with our independent score of the just-mentioned categories for every platform. Keep seeing until the end to discover out how we scored specific platforms. if you are new to this channel and your objective is to become a more educated P2P investor
Let’s first offer you a brief introduction to every platform before 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 offers its services worldwide, however, they are presently not issuing loans in the United States due to local guidelines.
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competitor to Celsius Network. The US-based company 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 available around the world with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto loaning platform in Europe. The business is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler offers very competitive rates on your crypto properties as well as numerous other features which you won’t discover on any other platforms. The platform is readily available in lots of nations with the exception of Germany and the U.S.A.. So if you live in the states, you won’t be able to utilize YouHodler’s services. Nexo is another European platform that provides crypto lovers the alternative to make interest not just on their coins however also fiat deposits. Nexo is in fact, among just two, to us understood, crypto lending platforms that use interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick summary of every platform
let’s speak about how they make money in the first place. So Celsius makes money from the interest they credit the borrowers which are either retail borrowers or organizations, they also generate income from their CEL token which is an utility token that you can use to increase your benefits on Celsius Network. Another income stream is the rehypothecation which suggests that Celsius uses the security from the debtors and releases it in order to generate extra earnings. BlockFi is also making money through the interest that is being credited borrowers. In addition to that, the platform likewise charges a 2% origination cost for anyone who wishes to take a loan. Another earnings stream is BlockFi’s exchange feature. The platform makes money from the spread when exchanging currencies. BlockFi also charges withdrawal charges after your one free withdrawal monthly. And the platform is likewise planning to launch a BlockFi credit card which will produce another income stream. YouHodler is likewise generating income from the interest charged to customers. There is a little withdrawal fee and charges for additional services such as the Multi HODL tool, which is a function that lets you leverage 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 profits with their Nexo token. That’s at least our interpretation from Nexo’s business design as the platform does not have A dedicated section about
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this on their website. Now let’s talk about the returns. If you are watching this video, you want to make money by transferring your coins on one of the platforms? Prior to we compare the rates, there are a couple of things that you need to think about however. When it comes to offering interest on your coins, every platform has certain limitations and terms. For example, Celsius Network changes the rates every week to reflect the existing market scenario. You are only able to earn greater rates if you choose to receive the interest in Celsius’s own energy token. The higher reward rates are likewise not readily available for US citizens. If you would not want to pay your rewards in the CEL token, you can currently 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 properties. The more bitcoin or ethereum you deposit, the less interest you will get. The interest rate for Ethereum ranges 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 presently at
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 provides greater rewards for those who desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t actually predict the genuine return from your deposits. Where Is Youhodler Located
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The platform is not transparent when it comes to sharing its monetary reports, however 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 financed by numerous institutional investors and the platform is primarily targeting the US market. According to our research, it seems like he has relocated to Switzerland to release his crypto financing platform YouHodler in 2017.
At the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform claims to manage $12B from 1.5 M users, which we think is a bit of a high growth even if we think about the buzz in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan company that obviously is financing Nexo. According to our current research, the executive board does not 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 lending platform, which is understood for the “abuse of clients money”.
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Nexo is the only platform that uses interest on fiat. Now that we have actually evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the functionality of every crypto financing site. 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 competing with the credit card from Crypto.com YouHodler offers some of the most advanced services amongst the crypto lending platforms.
YouHodler is likewise one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a really strong idea of what every crypto loaning platform is using. What you must consider though, is that as quickly as you deposit your crypto on any platform, you are not owning your personal keys anymore and your assets might get jeopardized either by 3rd parties or by the platform itself. Where Is Youhodler Located
The only method to secure your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy is that you will just benefit from the increased worth of your coin however not the interest on your deposits, which is something you can do on one of the crypto financing platforms. Based on our in-depth contrast, let’s have a look at our independent ratings of every classification for every platform.