Looking for Youhodler Crypto Company…A lot of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of individual platforms, the return rates, the reliability and performance history, use of their apps and we will likewise discuss some of the threats that you should think about when transferring your crypto on among these platforms. We will also round up the contrast with our independent ranking of the just-mentioned classifications for every single platform. Keep watching until the end to find out how we scored specific platforms. If you are new to this channel and your goal is to end up being a more informed P2P investor,
consider subscribing and hit the like button to see more material like this in the future. So let’s very first provide you a quick intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform worldwide, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to earn or take a crypto loan interest on their stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of assets. The platform offers its services worldwide, however, they are currently not issuing loans in the United States due to regional policies. BlockFi is the biggest
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of approved countries. Nexo is another European platform that offers crypto lovers the choice to earn interest not only on their coins but likewise fiat deposits. Nexo is in truth, one of just 2, to us known, crypto financing platforms that use interest on fiat deposits.
And the platform is also planning to introduce a BlockFi credit card which will generate another income 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 analysis from Nexo’s organization design as the platform does not have A devoted section about
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this on their site. Now let’s talk about the returns. If you are seeing this video, you want 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. Every platform has specific limitations and terms when it pertains to providing interest on your coins. For example, Celsius Network alters the rates every week to show the existing market scenario. Likewise, you are just able to earn higher rates if you choose to get the interest in Celsius’s own utility token. The higher reward rates are likewise not available for United States residents. If you would not want to pay out 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 assets. The more bitcoin or ethereum you deposit, the less interest you will get. The rates of interest for Ethereum varieties 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 currently at
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 greater benefits for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. What you need to keep in mind is that platforms tend to change the rates from time to time, so you can’t really anticipate the real return from your deposits. Youhodler Crypto Company
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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 addressing the most frequently asked questions, which is something rather uncommon in this area. The platform is not transparent when it comes to sharing its financial 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 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 financed by many institutional financiers and the platform is primarily 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 lending licenses just in the U.S. , if you want to check BlockFi’s stats you will not be happy as there are none readily available.. Some external sources recommend that there are more than 125,000 signed up users, nevertheless, we were not able to confirm 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 looks like he has actually relocated to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has been applauded by a few of you in the comments on previous videos, sadly, the platform isn’t publicly revealing any monetary reports, nor stats about their user base or possessions under YouHodler’s management. When utilizing YouHodler, this is something you need to certainly consider. Proceeding to Nexo. Nexo declares to handle $12 B worth of possessions from more than 1.5 M of users. If this is appropriate, it would imply that Nexo is two times as huge in regards to user base as Celsius with a much lower average
At the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a high development even if we consider the hype in the crypto area. The 2nd 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 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 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 evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the use of every crypto loaning site. While the crypto loans on BlockFi are only available to U.S. residents, the platform is also working on a Bitcoin rewards credit card which will be completing with the credit card from Crypto.com YouHodler offers some of the most sophisticated services among the crypto loaning platforms.
YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly solid idea of what every crypto lending platform is offering. What you need to think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets any longer and your possessions may get compromised either by third parties or by the platform itself. Youhodler Crypto Company
quit your ownership of the properties as long as you hold them in the platform’s wallet. The only method to protect your crypto is to save it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The disadvantage of this method is that you will just gain from the increased value of your coin however not the interest on your deposits, which is something you can do on among the crypto loaning platforms. However, similar to any financial investment, it constantly boils down to the risk and return and your threat profile. Based on our in-depth comparison, let’s have an appearance at our independent scores of every category for every platform. Keep in mind, that we have actually designated the ratings based on our own research. One represents the most affordable ranking while 5 represent the greatest score. Within business model classification.