Find Youhodler Co-founder Flori Marquez – Loans

Looking for Youhodler Co-founder Flori Marquez…Numerous of you have actually asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make 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 credibility and track record, functionality of their apps and we will also talk about some of the threats that you should consider when transferring your crypto on one of these platforms.

 

Let’s first offer you a quick introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. The platform offers its services worldwide, however, they are currently not providing loans in the United States due to local policies.

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The platform provides 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 enthusiasts the alternative to earn interest not only on their coins but also fiat deposits. Nexo is in truth, one of only two, to us understood, crypto lending platforms that provide interest on fiat deposits.

 

let’s speak about how they earn money in the first place. Celsius makes cash from the interest they charge to the customers which are either retail borrowers or institutions, they also make money from their CEL token which is an energy token that you can use to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which implies that Celsius uses the collateral from the customers and releases it in order to create additional income. BlockFi is also making money through the interest that is being credited debtors. The platform also charges a 2% origination charge for anyone who desires to take a loan. Another income stream is BlockFi’s exchange feature. The platform makes money from the spread when exchanging currencies. BlockFi likewise charges withdrawal charges after your one complimentary withdrawal per month. And the platform is likewise planning to release a BlockFi credit card which will create another earnings stream. YouHodler is also earning money from the interest credited borrowers. In addition to that, there is a small withdrawal fee and costs for additional services such as the Multi HODL tool, which is a feature that lets you take advantage of your crypto properties in exchange for prospective returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. Nexo likewise makes profits with their Nexo token. That’s at least our analysis from Nexo’s service model as the platform doesn’t have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Youhodler Co-founder Flori Marquez

If you are seeing this video, you want to make cash by transferring your coins on one of the platforms? Every platform has particular limits and terms when it comes to offering interest on your coins. You are only able to make higher rates if you decide to get the interest in Celsius’s own energy token.

 

9% annually. What’s worth pointing out is that if you wish to conserve some fees, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not require to pay the substantial gas cost, as the currency operates on the Binance Smart Chain with way lower fees in contrast to stablecoins that run on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler uses currently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. You can make 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses higher rewards for those who wish to receive the interest in the native NEXO tokens instead of the deposited currency. The platform provides 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you should bear in mind is that platforms tend to adjust the rates from time to time, so you can’t really forecast the genuine return from your deposits. Likewise, bear in mind that by transferring your crypto, the value of the currency might decrease Which will make it hard for you to liquidate your assets if that’s something you would otherwise consider. Now, that you are mindful of the returns let’s briefly review the credibility of the platforms and their track record. Celsius Network is likely the most legitimate platform in this area. The founder Alex Mashinsky is a popular business owner. Prior to launching the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the development and examine a few of the data. As we are recording this video, there are over 650,000 users and the platform is handling $17 billion worth of possessions. Alone in the last 12 months, Celsius has Youhodler Co-founder Flori Marquez

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paid out more than $367 M worth of rewards. While we haven’t managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is resolving the most frequently asked questions, which is something rather unusual 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 financial report for 2020, where you will find out that the platform is not successful. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement space rather than the fintech area. BlockFi is also funded by many institutional investors and the platform is generally targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are available Just for U.S people as BlockFi has the required financing licenses just in the U.S. If you wish to inspect BlockFi’s data you will not more than happy as there are none readily available. Some external sources suggest that there are more than 125,000 signed up users, however, we were not able 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 looks like he has relocated to Switzerland to launch his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been praised by a few of you in the discuss previous videos, sadly, the platform isn’t openly exposing any financial reports, nor stats about their user base or properties under YouHodler’s management. When using YouHodler, this is something you need to certainly think about. Carrying on to Nexo. Nexo claims to handle $12 B worth of possessions from more than 1.5 M of users. It would mean that Nexo is twice as big in terms of user base as Celsius with a much lower average if this is proper

 

At the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform claims to handle $12B from 1.5 M users, which we believe 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 likewise founded Credissimo, a Bulgarian payday loan company that obviously is financing Nexo. According to our recent research, the executive board does not even include Antoli, however only 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 known for the “abuse of customers cash”.

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in the media, he is typically only promoting crypto and predicting rates but does not have any much deeper insights into the crypto lending space or how Nexo is running. That’s just our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not lawyers, we have a hard time to comprehend the legal setup under which Nexo is providing its services. So now that we have evaluated a few of the track records of the four mentioned platforms, let’s briefly go over the functionality of every crypto lending website. Celsius has started as a native mobile app. The app is well developed and it features different security functions such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how many assets you are holding and what are the presently offered rates. You can move and withdraw supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can acquire them directly through the app. Note, nevertheless, that there might be fees for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less industrialized impression. The app is extremely basic and so is the desktop variation of the platform. BlockFi supports presently only 10 digital currencies. The platform likewise uses a dedicated exchange so you can even trade them. We don’t advise this feature that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is also dealing with a Bitcoin rewards charge card which will be taking on the credit card from Crypto.com YouHodler uses a few of the most innovative services among the crypto financing platforms. Presently, the platform supports 18 digital

 

YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have an actually solid concept of what every crypto lending platform is using. What you ought to think about however, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets anymore and your possessions might get compromised either by 3rd celebrations or by the platform itself. Youhodler Co-founder Flori Marquez

 

quit your ownership of the possessions as long as you hold them in the platform’s wallet. The only way to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The drawback of this technique is that you will only gain from the increased worth of your coin however not the interest on your deposits, which is something you can do on among the crypto loaning platforms. But, as with any investment, it constantly comes down to the risk and return and your danger profile. Based on our extensive contrast, let’s have an appearance at our independent rankings of every category for every platform. Keep in mind, that we have assigned the scores based on our own research study. One represents the most affordable ranking while five mean the greatest rating. Within business model category.