Looking for Youhodler Kaunas…Much of you have requested a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing business model of specific platforms, the return rates, the credibility and performance history, use of their apps and we will likewise talk about a few of the dangers that you need to consider when depositing your crypto on one of these platforms. We will also round up the comparison with our independent score of the just-mentioned classifications for every platform. Keep watching until the end to discover out how we scored private platforms. if you are new to this channel and your objective is to become a more informed P2P financier
consider subscribing and struck the like button to see more material like this in the future. Let’s first offer you a short introduction to every platform prior to 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 cryptocurrencies and stablecoins. In overall, Celsius handles more than $17 B worth of properties. The platform provides its services worldwide, nevertheless, they are presently not providing loans in the United States due to local policies. BlockFi is the biggest
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rival to Celsius Network. The US-based business has trading and lending licenses in various US states. If you are trying to find a wealth-management app for your crypto possessions BlockFi is certainly worth thinking about. The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of approved countries. YouHodler is likely the most genuine crypto loaning platform in Europe. The company is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler offers extremely competitive rates on your crypto assets in addition to a number of other functions which you won’t discover on any other platforms. The platform is offered in numerous nations with the exception of Germany and the U.S.A.. If you live in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the option to make interest not just on their coins but likewise fiat deposits. Nexo remains in fact, one of only 2, to us understood, crypto loaning platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a short overview of every platform
And the platform is also planning to launch a BlockFi credit card which will create 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 organization design as the platform doesn’t have A dedicated area about
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If you are viewing this video, you desire to make cash by transferring your coins on one of the platforms? Every platform has specific limits and terms when it comes to providing interest on your coins. You are just able to earn greater rates if you decide to get the interest in Celsius’s own energy token.
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 provides greater rewards for those who want to get the interest in the native NEXO tokens instead of the deposited currency. What you should keep in mind is that platforms tend to change the rates from time to time, so you can’t truly anticipate the genuine return from your deposits. Youhodler Kaunas
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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 monetary report for 2020, where you will find out that the platform is not rewarding. BlockFi is also financed by numerous institutional financiers and the platform is generally targeting the US market. According to our research study, it appears like he has transferred to Switzerland to introduce his crypto financing platform YouHodler in 2017.
deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting standards as we have pointed out together with other red flags in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep development even if we think about the hype in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research, Antoni was a Bulgarian politician with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading regulated banks for digital assets. I would be really interested by whom Nexo is managed, as the business does not have a financing license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be found on the website. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that apparently is funding Nexo. According to our current research, the executive board doesn’t even consist of Antoli, but 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 understood for the “misuse of clients cash”. When evaluating some of Nexo’s remarks from the CEO
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in the media, he is often only promoting crypto and predicting rates but lacks any deeper insights into the crypto financing area or how Nexo is running. However that’s just our impression from his Bloomberg talks. Nexo is the only platform that offers interest on fiat. According to our understanding, you can not use interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not lawyers, we struggle to understand the legal setup under which Nexo is providing its services. Now that we have evaluated some of the track records of the 4 pointed out 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 established and it comes with numerous security features such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how lots of properties you are holding and what are the currently used rates. You can withdraw and move supported coins however there is no exchange, so if you don’t deposit your cryptos from another wallet, you can buy them directly through the app. Note, however, that there might be charges for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital possessions. BlockiFi makes a less industrialized impression. The app is extremely simple and so is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform likewise uses a dedicated exchange so you can even trade them. We do not advise this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are only offered to U.S. citizens, the platform is likewise working on a Bitcoin rewards credit card which will be taking on the credit card from Crypto.com YouHodler offers some of the most innovative services amongst the crypto financing platforms. Currently, the platform supports 18 digital
currencies on which you are able to earn interest. YouHodler allows you to exchange between numerous currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit quantities are very low, so you do not require to move hundreds of Dollars or euros to test the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can only make interest on your crypto properties. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also provides you the choice to borrow fiat money in exchange for collateral. The platform currently supports only loans in us dollars or euros. YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler likewise provides two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the performance of those features surpasses this video, you can learn how it works in our devoted youhodler review on p2pempire. Nexo’s use resembles Celsius Network. Nexo is also using its energy tokens to use much better rates on loans, greater interests on crypto and fiat deposits, or more complimentary withdrawals per month. If you decide to stake your coins or fiat, meaning you lock your possessions for a defined term, you can get a greater interest rate. Like BlockFi, Nexo likewise provides you to purchase, or exchange crypto if you wish to hold your assets in various currencies. Now you have a truly strong idea of what every crypto financing platform is providing. What you ought to consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your private keys any longer and your assets may get jeopardized either by 3rd parties or by the platform itself. It’s like transferring your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are very clear about the reality that you Youhodler Kaunas
The only method to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The downside of this technique is that you will just benefit from the increased value of your coin however not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our thorough contrast, let’s have an appearance at our independent ratings of every category for every platform.