Find Youhodler Account – Loans

Looking for Youhodler Account…A number of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of private platforms, the return rates, the reliability and performance history, use of their apps and we will also discuss a few of the threats that you should think about 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 till 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 investor,

 

think about subscribing and hit the like button to see more content like this in the future. Let’s very first give you a quick introduction to every platform before 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. Currently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their cryptocurrencies and stablecoins. In total, Celsius manages more than $17 B worth of assets. The platform offers its services worldwide, nevertheless, they are currently not providing loans in the United States due to regional policies. BlockFi is the largest

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rival 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 possessions BlockFi is definitely 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 countries. YouHodler is most likely the most genuine crypto loaning platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers really competitive rates on your crypto possessions along with numerous other features which you will not discover on any other platforms. The platform is readily available in many countries with the exception of Germany and the USA. If you live in the states, you will not be able to use YouHodler’s services. Nexo is another European platform that offers crypto enthusiasts the alternative to make interest not only on their coins but likewise fiat deposits. Nexo remains in reality, one of just 2, to us known, crypto loaning platforms that provide interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief introduction of every platform

 

And the platform is also preparing to introduce 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 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 website. Now let’s discuss the returns. If you are watching this video, you desire to make money by depositing your coins on one of the platforms? Before we compare the rates, there are a couple of things that you should consider though. When it comes to providing interest on your coins, every platform has certain limitations and terms. So for example, Celsius Network changes the rates every week to show the existing market scenario. Also, you are only able to earn greater rates if you choose to receive the interest in Celsius’s own energy token. The higher benefit rates are also not available for US citizens. If you would not wish to pay your benefits 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 upon the number of your assets. The more bitcoin or ethereum you deposit, the less interest you will get. The interest rate 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 currently at

 

You can make 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 uses higher benefits for those who desire 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 truly predict the genuine return from your deposits. Youhodler Account

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paid more than $367 M worth of benefits. While we haven’t managed to get answers to our questions, the CEO does hold a weekly AMA session where he is dealing with the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it comes to sharing its financial reports, however with a bit of digging, you can get your hands on the financial report for 2020, where you will find out 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 development space rather than the fintech space. BlockFi is likewise funded by numerous institutional investors and the platform is generally targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are readily available Just for U.S people as BlockFi has the necessary loaning licenses just in the U.S. If you wish to check BlockFi’s data you won’t more than 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 directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research, it appears like he has actually relocated to Switzerland to launch his crypto lending platform YouHodler in 2017. I understand that YouHodler has been praised by some of you in the talk about previous videos, regrettably, the platform isn’t publicly revealing any monetary reports, nor stats about their user base or assets under YouHodler’s management. This is something you must certainly consider when utilizing YouHodler. Moving on to Nexo. Nexo claims to manage $12 B worth of possessions from more than 1.5 M of users. If this is appropriate, it would indicate that Nexo is twice as huge in terms of user base as Celsius with a much lower average

 

deposit quantity as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have pointed out together with other red flags in our previous video. Also, at the beginning 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 little a high growth even if we think about the buzz 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 politician with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled financial institution for digital properties. I would be really interested by whom Nexo is regulated, as the business doesn’t have a lending license in Estonia, where they are a legal entity Nexo Provider OU is based. Throughout our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that apparently is financing Nexo. According to our recent research, the executive board does not even consist of Antoli, however just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “misuse of customers cash”. When examining some of Nexo’s remarks from the CEO

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in the media, he is typically only promoting crypto and forecasting prices however lacks any much deeper insights into the crypto lending space or how Nexo is operating. But that’s just our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our knowledge, you can not use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not lawyers, we have a hard time to comprehend the legal setup under which Nexo is using its services. So now that we have evaluated a few of the performance history of the 4 pointed out platforms, let’s briefly review the functionality of every crypto financing site. Celsius has actually started as a native mobile app. The app is well established and it includes different 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 transfer and withdraw supported coins however there is no exchange, so if you don’t transfer your cryptos from another wallet, you can acquire 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 assets. BlockiFi makes a less developed impression. The app is very simple therefore is the desktop variation 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 best. While the crypto loans on BlockFi are just available to U.S. citizens, the platform is likewise working on a Bitcoin rewards charge card which will be taking on the credit card from Crypto.com YouHodler uses some of the most innovative services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a really solid concept of what every crypto loaning platform is offering. What you need to consider however, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your properties might get compromised either by third celebrations or by the platform itself. Youhodler Account

 

give up your ownership of the properties as long as you hold them in the platform’s wallet. The only way to safeguard your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the best method to keep your cryptos safe. The disadvantage of this strategy is that you will only benefit from the increased worth of your coin but not the interest on your deposits, which is something you can do on among the crypto financing platforms. As with any financial investment, it always comes down to the risk and return and your danger profile. So based on our thorough comparison, let’s have a look at our independent ratings of every category for every single platform. Keep in mind, that we have appointed the ratings based upon our own research. One represents the most affordable score while 5 mean the greatest rating. Within the business design category.