Looking for Youhodler Not Working…Many of you have asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business model of specific platforms, the return rates, the trustworthiness and performance history, usability of their apps and we will also discuss some of the risks that you must 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 each platform. So 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 informed P2P investor
consider subscribing and hit the like button to see more material like this in the future. Let’s first give you a short intro 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. Presently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or earn interest on their cryptocurrencies and stablecoins. In overall, Celsius handles more than $17 B worth of assets. The platform uses its services worldwide, however, they are presently not releasing loans in the United States due to local guidelines. BlockFi is the biggest
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competitor to Celsius Network. The US-based business has trading and financing licenses in numerous US states. If you are trying to find a wealth-management app for your crypto assets BlockFi is definitely worth thinking about. 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. YouHodler is most likely the most genuine crypto financing platform in Europe. The business is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers extremely competitive rates on your crypto assets as well as several other functions which you will not find on any other platforms. The platform is available in numerous nations with the exception of Germany and the USA. 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 choice to earn interest not only on their coins however likewise fiat deposits. Nexo remains in fact, one of just two, to us understood, crypto financing platforms that provide interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief summary of every platform
let’s speak about how they generate income in the first place. Celsius makes cash from the interest they charge to the debtors which are either retail debtors or organizations, they likewise make cash from their CEL token which is an energy token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which indicates that Celsius uses the security from the debtors and deploys it in order to produce extra income. BlockFi is also making money through the interest that is being credited borrowers. In addition to that, the platform also charges a 2% origination cost for anyone who wants 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 fees after your one free withdrawal each month. And the platform is likewise planning to launch a BlockFi credit card which will generate another earnings stream. YouHodler is likewise making money from the interest charged to borrowers. There is a little withdrawal cost and fees for additional services such as the Multi HODL tool, which is a function that lets you leverage your crypto properties in exchange for possible returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. Nexo also makes revenues with their Nexo token. That’s at least our interpretation from Nexo’s company model as the platform doesn’t have A devoted area about
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this on their site. Now let’s speak about the returns. If you are seeing this video, you wish to make money by depositing your coins on one of the platforms right? Before we compare the rates, there are a few things that you need to consider. Every platform has particular limitations and terms when it pertains to providing interest on your coins. For example, Celsius Network alters the rates every week to reflect the present market scenario. Likewise, you are just able to earn greater rates if you choose to get the interest in Celsius’s own utility token. The higher benefit rates are also not readily available for US residents. If you would not want to pay out your rewards in the CEL token, you can presently 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 variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum ranges in 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 earn 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 provides greater benefits for those who desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you must keep in mind is that platforms tend to change the rates from time to time, so you can’t really predict the genuine return from your deposits. Youhodler Not Working
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deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have mentioned together with other warnings in our previous video. 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 think is a bit of a high development even if we think about the hype in the crypto space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading managed banks for digital properties. I would be really interested by whom Nexo is controlled, as the company doesn’t have a loaning license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the website. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our current research study, the executive board does not even consist of Antoli, but 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 known for the “abuse of customers cash”. Likewise when reviewing some of Nexo’s remarks from the CEO
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Nexo is the only platform that uses interest on fiat. Now that we have actually examined some of the track records of the 4 discussed platforms, let’s briefly go over the functionality of every crypto loaning website. While the crypto loans on BlockFi are just offered to U.S. residents, the platform is also working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler offers some of the most advanced services among the crypto loaning platforms.
YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a really solid idea of what every crypto financing platform is providing. What you need to consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your properties might get compromised either by 3rd parties or by the platform itself. Youhodler Not Working
quit your ownership of the assets as long as you hold them in the platform’s wallet. The only method to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. That’s the very best method to keep your cryptos safe. The drawback of this method is that you will just gain from the increased value of your coin but 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 threat profile. Based on our extensive comparison, let’s have a look at our independent rankings of every category for every platform. Keep in mind, that we have designated the ratings based on our own research. One represents the most affordable rating while 5 stands for the highest ranking. Within the business design classification.