Crypto Lending Sites Down – Everything You Need to Know

Looking for Crypto Lending Sites Down…Many of you have asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business model of individual platforms, the return rates, the credibility and track record, functionality of their apps and we will likewise talk about a few of the risks that you must think about when depositing your crypto on among these platforms. We will likewise assemble the contrast with our independent score of the just-mentioned classifications for every single platform. So keep watching till the end to learn how we scored specific platforms. If you are brand-new to this channel and your objective is to end up being a more educated P2P financier,

 

consider subscribing and hit the like button to see more material like this in the future. Let’s first provide you a quick introduction 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. Presently, 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 assets. The platform provides its services worldwide, nevertheless, they are currently not providing loans in the United States due to regional regulations. 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 different US states. , if you are looking for a wealth-management app for your crypto possessions BlockFi is definitely worth thinking about.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto financing platform in Europe. The business is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler offers extremely competitive rates on your crypto assets as well as several other features which you will not find on any other platforms. The platform is offered in numerous countries with the exception of Germany and the U.S.A.. If you live in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the option to earn interest not only on their coins however also fiat deposits. Nexo remains in truth, one of just two, to us understood, crypto loaning platforms that provide 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 release a BlockFi credit card which will produce another income 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 design as the platform doesn’t have A dedicated area about

money fees on celsius services priced about stablecoins  profit margin Crypto Lending Sites Down

If you are watching this video, you want to make money by depositing your coins on one of the platforms? Every platform has specific limitations and terms when it comes to using interest on your coins. You are only able to earn higher rates if you choose to get the interest in Celsius’s own energy token.

 

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 greater benefits 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 adjust the rates from time to time, so you can’t truly anticipate the genuine return from your deposits. Crypto Lending Sites Down

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 dealing with the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it comes to sharing its monetary reports, however 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 development space instead of the fintech space. BlockFi is also funded by many institutional investors and the platform is generally targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are available Only for U.S people as BlockFi has the required lending licenses only in the U.S. , if you want to inspect BlockFi’s stats you will not be happy 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 straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research study, it seems like he has moved to Switzerland to launch his crypto loaning platform YouHodler in 2017. I know that YouHodler has actually been applauded by a few of you in the discuss previous videos, sadly, the platform isn’t openly exposing any financial reports, nor data about their user base or properties under YouHodler’s management. This is something you need to definitely think about when utilizing YouHodler. Proceeding to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. It would indicate that Nexo is two times as huge in terms of user base as Celsius with a much lower average if this is right

 

At the start of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the buzz in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that obviously is financing Nexo. According to our recent research, the executive board does not even consist of Antoli, however just 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 clients cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have reviewed some of the track records of the four mentioned platforms, let’s briefly go over the use of every crypto financing site. 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 competing with the credit card from Crypto.com YouHodler uses some of the most advanced services among the crypto lending platforms.

 

currencies on which you are able to make interest. YouHodler allows you to exchange in between various currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are extremely low, so you don’t need to transfer numerous Dollars or euros to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can only make interest on your crypto possessions. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise uses you the choice to borrow fiat money in exchange for security. The platform presently supports only loans in us euros or dollars. YouHodler is likewise among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise offers 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the performance of those functions exceeds this video, you can learn how it works in our devoted youhodler review on p2pempire. Nexo’s functionality resembles Celsius Network. Nexo is likewise using its energy tokens to use much better rates on loans, greater interests on crypto and fiat deposits, or more free withdrawals monthly. Likewise if you choose to stake your coins or fiat, implying you lock your properties for a specified term, you can get a greater rates of interest. Like BlockFi, Nexo likewise offers you to purchase, or exchange crypto if you want to hold your possessions in numerous currencies. Now you have a truly solid concept of what every crypto lending platform is using. What you ought to think about however, is that as quickly as you deposit 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. It’s like 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 really clear about the truth that you Crypto Lending Sites Down

 

quit your ownership of the properties as long as you hold them in the platform’s wallet. The only method to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The downside of this method is that you will just gain 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. As with any financial investment, it constantly comes down to the risk and return and your threat profile. So based upon our extensive comparison, let’s take a look at our independent ratings of every category for each platform. Keep in mind, that we have actually appointed the rankings based on our own research study. One represents the lowest rating while five mean the greatest score. Within business design category.

Crypto Lending Sites Down – Everything You Need to Know

Looking for Crypto Lending Sites Down…Many of you have actually requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business model of individual platforms, the return rates, the credibility and track record, use of their apps and we will also talk about some of the dangers that you ought to think about when depositing your crypto on one of these platforms.

 

Let’s first give you a quick introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform in the world, which was established in 2017 by Alex Mashinsky. The platform offers its services worldwide, nevertheless, they are currently not providing loans in the United States due to regional regulations.

youhodler crypto interest loans, platform for users

The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned countries. Nexo is another European platform that offers crypto lovers the alternative to earn interest not only on their coins however also fiat deposits. Nexo is in truth, one of only 2, to us known, crypto loaning platforms that offer interest on fiat deposits.

 

let’s talk about how they earn money in the first place. Celsius makes cash from the interest they charge to the borrowers which are either retail borrowers or organizations, they likewise make cash from their CEL token which is an utility token that you can utilize to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which suggests that Celsius utilizes the security from the customers and releases it in order to generate extra income. BlockFi is likewise making money through the interest that is being charged to customers. In addition to that, the platform likewise charges a 2% origination charge for anybody who wishes to take a loan. Another income stream is BlockFi’s exchange function. When exchanging currencies, the platform makes money from the spread. BlockFi also charges withdrawal costs after your one free withdrawal per month. And the platform is also preparing to launch a BlockFi credit card which will generate another income stream. YouHodler is likewise generating income from the interest credited customers. In addition to that, there is a little withdrawal fee and fees for extra services such as the Multi HODL tool, which is a feature that lets you take advantage of your crypto properties in exchange for potential returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. Nexo likewise makes revenues with their Nexo token. That’s at least our analysis from Nexo’s business model as the platform does not have A devoted section about

money fees on celsius services priced about stablecoins  profit margin Crypto Lending Sites Down

If you are viewing this video, you want to make money 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 only able to earn greater rates if you decide to get the interest in Celsius’s own utility token.

 

9% per year. What deserves mentioning is that if you want to conserve some fees, and bring more stability into your crypto interest account, you can also deposit the Binance USD coin for which you will not require to pay the significant gas fee, as the currency runs on the Binance Smart Chain with method lower fees in contrast to stablecoins that work on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler offers presently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. You can earn 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 greater benefits for those who wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to bear in mind is that platforms tend to adjust the rates from time to time, so you can’t really forecast the real return from your deposits. Likewise, remember that by transferring your crypto, the worth of the currency might decrease Which will make it hard for you to liquidate your assets if that’s something you would otherwise think about. Now, that you are aware of the returns let’s briefly review 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 well-known business owner. Before launching the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the progress and review some of the data. As we are taping this video, there are over 650,000 users and the platform is managing $17 billion worth of possessions. Alone in the last 12 months, Celsius has Crypto Lending Sites Down

bitcoin amount of lending service with value feature trading

paid more than $367 M worth of benefits. While we have not managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is attending to the most frequently asked questions, which is something rather unusual in this space. 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 co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development area rather than the fintech area. BlockFi is likewise financed by numerous institutional financiers and the platform is mainly targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Just for U.S residents as BlockFi has the necessary loaning licenses just in the U.S. If you want to inspect BlockFi’s statistics you will not enjoy as there are none available. Some external sources suggest that there are more than 125,000 signed up users, however, we were unable to validate 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 appears like he has moved 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 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 think about when utilizing YouHodler. Carrying on to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. If this is right, it would mean that Nexo is two times as huge in regards to user base as Celsius with a much lower average

 

deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting standards as we have pointed out together with other red flags in our previous video. Likewise, at the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a little a steep 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 study, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled banks for digital possessions. I would be actually interested by whom Nexo is managed, as the company doesn’t have a loaning license in Estonia, where they are a legal entity Nexo Provider OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be found on the site. The second 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 include Antoli, however only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “misuse of clients cash”. When reviewing some of Nexo’s comments from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is typically only promoting crypto and forecasting rates however lacks any much deeper insights into the crypto lending space or how Nexo is operating. 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 use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not attorneys, we struggle to comprehend the legal setup under which Nexo is providing its services. So now that we have actually evaluated some of the track records of the 4 pointed out platforms, let’s briefly go over the functionality of every crypto financing site. Celsius has actually started as a native mobile app. The app is well established and it comes with various security features such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you have the ability to see the number of possessions you are holding and what are the currently provided rates. You can move and withdraw supported coins but there is no exchange, so if you don’t transfer your cryptos from another wallet, you can buy them straight through the app. Note, however, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less industrialized impression. The app is extremely simple and so is the desktop variation of the platform. BlockFi supports currently just 10 digital currencies. The platform also provides a devoted exchange so you can even trade them. We don’t recommend this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are just readily available to U.S. people, the platform is likewise working on a Bitcoin benefits credit card which will be taking on the credit card from Crypto.com YouHodler provides some of the most advanced services among the crypto financing platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a really solid concept of what every crypto financing platform is providing. What you need to think about however, is that as quickly as you transfer 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. Crypto Lending Sites Down

 

The only method to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. The downside of this method is that you will only 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 financing platforms. Based on our in-depth contrast, let’s have an appearance at our independent ratings of every classification for every platform.