Who Owns Youhodler – Everything You Need to Know

Looking for Who Owns Youhodler…Many of you have requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business model of private platforms, the return rates, the trustworthiness and track record, usability of their apps and we will also speak about a few of the threats that you should consider when depositing your crypto on one of these platforms. We will also round up the comparison with our independent ranking of the just-mentioned classifications for every single platform. So keep watching till completion to learn how we scored private platforms. If you are brand-new to this channel and your goal is to become a more informed P2P financier,

 

Let’s very first provide you a quick intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform in the world, which was established in 2017 by Alex Mashinsky. The platform provides its services worldwide, however, they are currently not issuing loans in the United States due to regional policies.

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competitor to Celsius Network. The US-based company has trading and financing licenses in numerous US states. , if you are looking for a wealth-management app for your crypto possessions BlockFi is definitely worth considering.. The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto lending platform in Europe. The business is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler provides extremely competitive rates on your crypto assets along with a number of other functions which you won’t discover on any other platforms. The platform is available in numerous nations with the exception of Germany and the USA. So if you reside in the states, you will not have the ability to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the alternative to make interest not only on their coins however also fiat deposits. Nexo remains in truth, one of only 2, to us known, crypto loaning platforms that provide interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a quick summary of every platform

 

And the platform is also preparing to release a BlockFi credit card which will create 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 analysis from Nexo’s company model as the platform doesn’t have A dedicated area about

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If you are enjoying this video, you want to make money by transferring your coins on one of the platforms? Every platform has specific limits and terms when it comes to using interest on your coins. You are just able to make greater rates if you decide to receive 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 uses greater benefits for those who desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you ought to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t actually anticipate the genuine return from your deposits. Who Owns Youhodler

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paid out more than $367 M worth of rewards. While we haven’t managed to get answers to our questions, 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 financial reports, however with a bit of digging, you can get your hands on the monetary report for 2020, where you will learn that the platform is not lucrative yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement space instead of the fintech space. BlockFi is likewise funded by many institutional financiers and the platform is mainly targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are available Just for U.S citizens as BlockFi has the required financing licenses only in the U.S. If you wish to inspect BlockFi’s stats you won’t 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 validate any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research, it seems like he has actually transferred to Switzerland to release his crypto lending platform YouHodler in 2017. I know that YouHodler has actually been praised by a few of you in the comments on previous videos, unfortunately, the platform isn’t openly revealing any monetary reports, nor stats about their user base or properties under YouHodler’s management. When using YouHodler, this is something you must definitely consider. Carrying on to Nexo. Nexo declares to handle $12 B worth of possessions from more than 1.5 M of users. It would mean that Nexo is twice as big in terms of user base as Celsius with a much lower average if this is correct

 

deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have actually pointed out together with other warnings in our previous video. Also, at the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform declares to manage $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 area. 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 fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading controlled financial institution for digital assets. I would be really interested by whom Nexo is controlled, as the company does not have a lending license in Estonia, where they are a legal entity Nexo Provider OU is based. Throughout our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be found on the website. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance loan business that obviously is financing Nexo. According to our current research study, the executive board doesn’t even consist of Antoli, but only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “abuse of clients money”. Also when reviewing a few of Nexo’s remarks from the CEO

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Nexo is the only platform that offers interest on fiat. Now that we have actually evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the usability of every crypto lending website. While the crypto loans on BlockFi are only available to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most sophisticated services amongst the crypto loaning platforms.

 

YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have a truly solid concept of what every crypto loaning platform is offering. 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 properties might get jeopardized either by third parties or by the platform itself. Who Owns Youhodler

 

quit your ownership of the properties 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 downside of this strategy 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 financing platforms. But, similar to any investment, it constantly boils down to the threat and return and your danger profile. So based on our in-depth contrast, let’s take a look at our independent scores of every category for every single platform. Note, that we have actually appointed the rankings based upon our own research study. One represents the most affordable ranking while 5 represent the highest score. Within the business design category.