13 Best Cryptocurrency Exchanges – Everything You Need to Know

Looking for 13 Best Cryptocurrency Exchanges…Many of you have actually asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the company design of individual platforms, the return rates, the reliability and track record, usability of their apps and we will also talk about some of the dangers that you must consider when depositing your crypto on one of these platforms.

 

consider subscribing and hit the like button to see more material like this in the future. Let’s first give you a brief intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In overall, Celsius handles more than $17 B worth of assets. The platform offers its services worldwide, nevertheless, they are presently not issuing loans in the United States due to regional guidelines. BlockFi is the largest

youhodler crypto interest loans, platform for users

rival to Celsius Network. The US-based company has trading and lending licenses in numerous US states. , if you are looking for a wealth-management app for your crypto possessions BlockFi is certainly worth thinking about.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of approved countries. YouHodler is likely the most genuine crypto loaning platform in Europe. The business is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler uses very competitive rates on your crypto assets as well as numerous other features which you will not find on any other platforms. The platform is available in many countries with the exception of Germany and the USA. So if you live in the states, you won’t have the ability to utilize YouHodler’s services. Nexo is another European platform that offers crypto lovers the alternative to earn interest not just on their coins but likewise fiat deposits. Nexo remains in truth, among just two, to us understood, crypto loaning platforms that offer interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a short summary of every platform

 

let’s speak about how they earn money in the first place. Celsius makes money from the interest they charge to the borrowers which are either retail customers or organizations, they likewise make money from their CEL token which is an utility token that you can use to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which indicates that Celsius uses the collateral from the borrowers and releases it in order to create additional income. BlockFi is likewise generating income through the interest that is being credited borrowers. In addition to that, the platform also charges a 2% origination charge for anybody who wants to take a loan. Another earnings stream is BlockFi’s exchange function. When exchanging currencies, the platform makes money from the spread. BlockFi also charges withdrawal costs after your one totally free withdrawal per month. And the platform is likewise planning to release a BlockFi charge card which will create another earnings stream. YouHodler is likewise making money from the interest charged to borrowers. There is a little withdrawal cost and fees for extra services such as the Multi HODL tool, which is a feature that lets you leverage your crypto possessions in exchange for prospective returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. Nexo also makes profits with their Nexo token. That’s at least our analysis from Nexo’s service model as the platform does not have A devoted section about

money fees on celsius services priced about stablecoins  profit margin 13 Best Cryptocurrency Exchanges

this on their site. Now let’s speak about the returns. If you are enjoying this video, you want to make money by depositing your coins on among the platforms right? Prior to we compare the rates, there are a couple of things that you ought to consider. Every platform has specific limits and terms when it concerns providing interest on your coins. For example, Celsius Network changes the rates every week to reflect the current market scenario. You are only able to make greater rates if you decide to get the interest in Celsius’s own energy token. The higher reward rates are also not readily available for US citizens. If you would not wish to pay out your benefits 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 on the variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum varieties 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 presently at

 

9% per year. What deserves discussing is that if you wish to conserve some fees, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not require to pay the significant gas cost, as the currency operates on the Binance Smart Chain with method lower fees in comparison to stablecoins that run on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler offers currently the most competitive rates for your USDC coins without the need to stake the platform’s own energy tokens. You can earn 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 offers greater rewards for those who wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform offers 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t actually predict the real return from your deposits. Keep in mind that by transferring your crypto, the worth of the currency may reduce Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. So now, that you understand the returns let’s briefly evaluation the trustworthiness of the platforms and their track record. Celsius Network is likely the most legitimate platform in this space. The creator Alex Mashinsky is a widely known entrepreneur. Before releasing the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the development and review some of the statistics. As we are recording this video, there are over 650,000 users and the platform is managing $17 billion worth of properties. Alone in the last 12 months, Celsius has 13 Best Cryptocurrency Exchanges

bitcoin amount of lending service with value feature trading

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 lucrative. BlockFi is likewise financed by lots of institutional financiers and the platform is mainly targeting the US market. According to our research, it seems like he has actually moved to Switzerland to release his crypto lending platform YouHodler in 2017.

 

At the start 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 believe is a bit of a steep development even if we think about the hype in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan company that apparently is financing Nexo. According to our current research, the executive board doesn’t even consist of Antoli, however just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is known for the “abuse of clients money”.

turbocharge  stablecoins crypto assets  coins investment profile

 

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 lending site. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is also working on a Bitcoin benefits credit card which will be completing with the credit card from Crypto.com YouHodler offers some of the most sophisticated services among the crypto financing platforms.

 

currencies on which you are able to earn interest. YouHodler permits you to exchange in between numerous currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are really low, so you don’t require to transfer hundreds of Dollars or euros to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can just earn interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise provides you the choice to borrow fiat money in exchange for security. The platform presently supports only loans in us dollars or euros. YouHodler is likewise among the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise offers two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those features goes beyond this video, you can learn how it operates in our devoted youhodler evaluation on p2pempire. Nexo’s functionality is similar to Celsius Network. Nexo is likewise using its energy tokens to provide better rates on loans, greater interests on crypto and fiat deposits, or more free withdrawals each month. Also if you decide to stake your coins or fiat, indicating you lock your possessions for a specified term, you can get a greater rate of interest. Like BlockFi, Nexo also offers you to purchase, or exchange crypto if you wish to hold your assets in numerous currencies. Now you have a really solid idea of what every crypto financing platform is using. What you should think about though, is that as quickly as you transfer your crypto on any platform, you are not owning your private secrets any longer and your assets might get jeopardized either by third parties or by the platform itself. It resembles transferring your crypto on the exchange – if you don’t own the keys, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are very clear about the truth that you 13 Best Cryptocurrency Exchanges

 

quit your ownership of the assets as long as you hold them in the platform’s wallet. The only way to protect your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The disadvantage of this method is that you will just gain from the increased worth of your coin but not the interest on your deposits, which is something you can do on among the crypto loaning platforms. However, similar to any investment, it always boils down to the danger and return and your risk profile. Based on our extensive contrast, let’s have an appearance at our independent rankings of every classification for every platform. Note, that we have assigned the ratings based on our own research. One represents the lowest ranking while five mean the greatest score. Within the business design classification.