Blockfi Podcast – Everything You Need to Know

Looking for Blockfi Podcast…Many of you have asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the company model 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 need to consider when transferring your crypto on one of these platforms.

 

consider subscribing and struck the like button to see more content like this in the future. Let’s very first provide you a quick intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending 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 cryptocurrencies and stablecoins. In total, Celsius manages more than $17 B worth of possessions. The platform uses its services worldwide, however, they are presently not releasing loans in the United States due to regional policies. BlockFi is the biggest

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rival to Celsius Network. The US-based company has trading and loaning licenses in numerous US states. If you are looking for a wealth-management app for your crypto assets BlockFi is certainly worth considering. The platform provides crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of sanctioned 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 uses really competitive rates on your crypto assets in addition to numerous other functions which you won’t find on any other platforms. The platform is readily available in lots of countries with the exception of Germany and the U.S.A.. So if you live in the states, you won’t have the ability to utilize YouHodler’s services. Nexo is another European platform that provides crypto lovers the choice to earn interest not just on their coins but likewise fiat deposits. Nexo remains in truth, among just 2, to us understood, crypto financing platforms that provide interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief introduction of every platform

 

And the platform is likewise preparing to introduce a BlockFi credit card which will create another income stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. That’s at least our interpretation from Nexo’s service model as the platform does not have A dedicated area about

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this on their site. Now let’s talk about the returns. If you are watching this video, you desire to make money by depositing your coins on one of the platforms? Before we compare the rates, there are a few things that you need 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 show the present market scenario. Also, you are just able to make higher rates if you decide to receive the interest in Celsius’s own energy token. The greater reward rates are also not readily available for United States citizens. 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 on the number of your possessions. The more bitcoin or ethereum you deposit, the less interest you will get. The rate 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 provides greater rewards for those who want to get the interest in the native NEXO tokens instead 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 predict the genuine return from your deposits. Blockfi Podcast

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The platform is not transparent when it comes to sharing its financial reports, however with a little bit of digging, you can get your hands on the financial report for 2020, where you will discover out that the platform is not rewarding. BlockFi is also funded by many institutional investors and the platform is primarily targeting the United States market. According to our research, it seems like he has actually transferred to Switzerland to introduce his crypto financing platform YouHodler in 2017.

 

deposit amount as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have explained 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 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 space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian political leader with experience in the style Retail industry. On his LinkedIn profile, he explains Nexo as the leading controlled financial institution for digital assets. I would be actually interested by whom Nexo is managed, as the business doesn’t have a loaning license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance company that apparently is financing Nexo. According to our recent research, the executive board does not even consist of Antoli, however only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “misuse of customers cash”. When reviewing some of Nexo’s comments from the CEO

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Nexo is the only platform that provides interest on fiat. Now that we have actually evaluated some of the track records of the 4 pointed out platforms, let’s briefly go over the use of every crypto lending site. While the crypto loans on BlockFi are just readily available to U.S. people, the platform is also working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler offers some of the most innovative services among the crypto loaning platforms.

 

YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have a really solid idea of what every crypto lending platform is using. What you should consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal secrets anymore and your assets may get compromised either by third parties or by the platform itself. Blockfi Podcast

 

The only method to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside of this method is that you will only benefit from the increased worth of your coin but not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our extensive contrast, let’s have an appearance at our independent rankings of every category for every platform.