Best Crypto Lending Platform 2018 – Everything You Need to Know

Looking for Best Crypto Lending Platform 2018…A number of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing business model of individual platforms, the return rates, the reliability and track record, use of their apps and we will also talk about a few of the threats that you need to think about when depositing your crypto on one of these platforms. We will also round up the contrast with our independent ranking of the just-mentioned categories for every platform. Keep enjoying till the end to discover out how we scored specific platforms. If you are brand-new to this channel and your goal is to become a more educated P2P investor,

 

consider subscribing and hit the like button to see more material like this in the future. So let’s very first offer you a short intro to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform on the planet, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or make interest on their stablecoins and cryptocurrencies. In total, 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 regional regulations. BlockFi is the largest

youhodler crypto interest loans, platform for users

The platform provides crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of sanctioned nations. Nexo is another European platform that offers crypto enthusiasts the option to make interest not just on their coins however also fiat deposits. Nexo is in reality, one of just two, to us known, crypto loaning 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 cash from their CEL token which is an utility token that you can utilize to increase your rewards on Celsius Network. Another income stream is the rehypothecation which indicates that Celsius utilizes the security from the debtors and deploys it in order to produce additional income. BlockFi is also earning money through the interest that is being charged to debtors. The platform also charges a 2% origination cost for anybody who desires to take a loan. Another earnings stream is BlockFi’s exchange feature. When exchanging currencies, the platform makes money from the spread. BlockFi likewise charges withdrawal costs after your one complimentary withdrawal each month. And the platform is likewise planning to introduce a BlockFi charge card which will generate another income stream. YouHodler is also earning money from the interest charged to borrowers. There is a little withdrawal cost and charges for extra services such as the Multi HODL tool, which is a feature that lets you leverage your crypto assets in exchange for possible returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. Nexo likewise makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s company model as the platform doesn’t have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Best Crypto Lending Platform 2018

If you are enjoying this video, you want to make cash by transferring your coins on one of the platforms? Every platform has particular limitations and terms when it comes to providing interest on your coins. You are just able to earn greater rates if you choose to get the interest in Celsius’s own utility token.

 

9% each year. What deserves mentioning is that if you want to save some costs, 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 large gas fee, as the currency works on the Binance Smart Chain with way lower costs in comparison to stablecoins that run on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler provides 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 offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides higher benefits for those who wish to receive 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 must bear 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. Likewise, keep in mind that by transferring your crypto, the worth of the currency might decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. Now, that you are conscious of 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 area. The creator Alex Mashinsky is a popular entrepreneur. Before launching the Celsius network, he has co-founded 3 startups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the development and review some of the stats. As we are taping 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 Best Crypto Lending Platform 2018

bitcoin amount of lending service with value feature trading

paid out more than $367 M worth of rewards. While we have not 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 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 profitable. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement area instead of the fintech area. BlockFi is likewise financed by many institutional financiers and the platform is primarily targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Just for U.S citizens as BlockFi has the required lending licenses only in the U.S. , if you want to examine BlockFi’s stats you will not be delighted as there are none readily available.. Some external sources suggest that there are more than 125,000 registered users, however, we were unable to verify any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research, it seems like he has transferred to Switzerland to release his crypto lending platform YouHodler in 2017. I know that YouHodler has actually been praised by some of you in the discuss previous videos, regrettably, the platform isn’t openly revealing any financial reports, nor stats about their user base or properties under YouHodler’s management. This is something you should certainly consider when utilizing YouHodler. Moving on to Nexo. Nexo declares to manage $12 B worth of possessions from more than 1.5 M of users. It would imply that Nexo is twice as huge in terms of user base as Celsius with a much lower average if this is appropriate

 

At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform claims to manage $12B from 1.5 M users, which we believe is a bit of a high development even if we consider the hype in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan company that apparently is funding Nexo. According to our current research study, the executive board does not 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 understood for the “misuse of clients cash”.

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Nexo is the only platform that uses interest on fiat. Now that we have actually evaluated some of the track records of the four discussed platforms, let’s briefly go over the functionality of every crypto financing website. While the crypto loans on BlockFi are just offered to U.S. citizens, the platform is also working on a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most innovative services amongst the crypto financing platforms.

 

YouHodler is likewise 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 think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your personal keys any longer and your assets might get jeopardized either by third celebrations or by the platform itself. Best Crypto Lending Platform 2018

 

The only method to protect your crypto is to keep 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 loaning platforms. Based on our in-depth comparison, let’s have a look at our independent rankings of every classification for every platform.

Best Crypto Lending Platform 2018 – Everything You Need to Know

Looking for Best Crypto Lending Platform 2018…Many of you have asked for a contrast 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 design of specific platforms, the return rates, the trustworthiness and performance history, usability of their apps and we will also talk about some of the threats that you ought to think about when transferring your crypto on one of these platforms. We will likewise round up the contrast with our independent score of the just-mentioned categories for every platform. So keep watching until completion to learn how we scored private platforms. if you are new to this channel and your goal is to end up being a more informed P2P investor

 

consider subscribing and struck the like button to see more content like this in the future. Let’s first offer you a short intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto loaning platform on the planet, 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 manages more than $17 B worth of possessions. The platform provides its services worldwide, nevertheless, they are presently not providing loans in the United States due to regional guidelines. BlockFi is the biggest

youhodler crypto interest loans, platform for users

The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered 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 however likewise fiat deposits. Nexo is in fact, one of only two, to us understood, crypto loaning platforms that offer interest on fiat deposits.

 

And the platform is likewise planning to introduce a BlockFi credit card which will generate 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 company model as the platform doesn’t have A dedicated area about

money fees on celsius services priced about stablecoins  profit margin Best Crypto Lending Platform 2018

this on their website. Now let’s speak about the returns. If you are seeing this video, you wish to make money by transferring your coins on among the platforms right? Before we compare the rates, there are a couple of things that you must think about. Every platform has certain limits and terms when it concerns using interest on your coins. For example, Celsius Network changes the rates every week to show the existing market scenario. You are just able to make greater rates if you choose to get the interest in Celsius’s own utility token. The higher reward rates are likewise not readily available for United States residents. If you would not want to pay your benefits 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 receive. The rates of interest for Ethereum ranges 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 offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers higher rewards for those who want to get the interest in the native NEXO tokens rather of the deposited currency. What you ought 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. Best Crypto Lending Platform 2018

bitcoin amount of lending service with value feature trading

paid more than $367 M worth of benefits. While we haven’t managed to get answers to our questions, the CEO does hold a weekly AMA session where he is resolving the most frequently asked questions, which is something rather uncommon in this space. 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 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 likewise funded by many institutional financiers and the platform is primarily targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Only for U.S citizens as BlockFi has the required lending licenses just in the U.S. If you wish to examine BlockFi’s data you will not enjoy as there are none readily available. Some external sources recommend that there are more than 125,000 registered 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, it appears like he has actually relocated to Switzerland to introduce his crypto financing platform YouHodler in 2017. I understand that YouHodler has been praised by a few of you in the talk about previous videos, sadly, the platform isn’t publicly revealing any financial reports, nor data about their user base or properties under YouHodler’s management. This is something you need to definitely consider when using YouHodler. Carrying on to Nexo. Nexo claims to handle $12 B worth of assets from more than 1.5 M of users. If this is right, it would suggest that Nexo is twice as big in terms of user base as Celsius with a much lower average

 

deposit quantity 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 red flags in our previous video. At the start of January, Nexo had just $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 high development even if we consider the buzz in the crypto area. 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 fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading regulated banks for digital possessions. I would be really interested by whom Nexo is controlled, as the company doesn’t have a lending 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 discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that obviously is funding Nexo. According to our recent research, the executive board does not even consist of Antoli, however just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is understood for the “misuse of clients cash”. When examining some of Nexo’s remarks from the CEO

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in the media, he is typically only promoting crypto and forecasting rates however lacks any deeper insights into the crypto loaning space or how Nexo is running. That’s just our impression from his Bloomberg talks. Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not lawyers, we have a hard time to understand the legal setup under which Nexo is offering its services. So now that we have actually reviewed a few of the performance history of the 4 pointed out platforms, let’s briefly discuss the functionality of every crypto loaning site. Celsius has actually begun as a native mobile app. The app is well developed and it features numerous security features 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 used rates. You can transfer and withdraw supported coins but there is no exchange, so if you do not deposit your cryptos from another wallet, you can acquire them directly through the app. Note, however, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital properties. BlockiFi makes a less industrialized impression. The app is extremely simple and so is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform likewise offers a dedicated exchange so you can even trade them. We don’t advise this feature that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only readily available 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 a few of the most innovative services amongst the crypto loaning platforms. Presently, the platform supports 18 digital

 

YouHodler is likewise one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a truly solid concept of what every crypto lending platform is offering. What you need to consider however, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys any longer and your possessions may get jeopardized either by third parties or by the platform itself. Best Crypto Lending Platform 2018

 

The only method to protect your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The drawback 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 a look at our independent rankings of every classification for every platform.