Youhodler Bitcoin Reward Points – Everything You Need to Know

Looking for Youhodler Bitcoin Reward Points…A lot of you have actually requested a contrast in 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 the business model of specific platforms, the return rates, the trustworthiness and performance history, functionality of their apps and we will also speak about some of the threats that you ought to think about when depositing your crypto on one of these platforms. We will also assemble the contrast with our independent rating of the just-mentioned classifications for every platform. So keep watching till completion to find out how we scored specific platforms. if you are new to this channel and your objective is to become a more educated P2P financier

 

Let’s very first give you a brief introduction 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. The platform provides its services worldwide, however, they are presently not releasing loans in the United States due to local guidelines.

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

 

let’s speak about how they generate income in the first place. So Celsius earns money from the interest they charge to the customers which are either retail borrowers or institutions, they likewise earn money from their CEL token which is an utility token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which indicates that Celsius utilizes the collateral from the borrowers and deploys it in order to create additional earnings. BlockFi is likewise making money through the interest that is being charged to debtors. In addition to that, the platform also charges a 2% origination cost for anyone who wants to take a loan. Another income stream is BlockFi’s exchange feature. When exchanging currencies, the platform makes cash from the spread. BlockFi likewise charges withdrawal costs after your one free withdrawal per month. And the platform is likewise preparing to release a BlockFi credit card which will produce another income stream. YouHodler is likewise generating income from the interest charged to borrowers. In addition to that, there is a small withdrawal fee and fees for extra services such as the Multi HODL tool, which is a function that lets you leverage your crypto properties in exchange for potential returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. Nexo likewise makes profits with their Nexo token. That’s at least our interpretation from Nexo’s company 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 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 ought to think about however. Every platform has certain limits and terms when it comes to offering interest on your coins. So for example, Celsius Network alters the rates weekly to show the existing market scenario. You are only able to make higher rates if you decide to receive the interest in Celsius’s own energy token. The higher reward rates are also not offered for US residents. If you would not wish to pay out 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 variety of your properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum varieties 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 presently at

 

You can earn 12% interest on your USDC holdings and the platform provides 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides higher rewards for those who desire 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 anticipate the genuine return from your deposits. Youhodler Bitcoin Reward Points

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paid more than $367 M worth of benefits. While we haven’t 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 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 discover out that the platform is not rewarding. 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 generally targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are available Just for U.S residents as BlockFi has the necessary loaning licenses just in the U.S. If you want to check BlockFi’s statistics you won’t enjoy as there are none readily available. Some external sources recommend that there are more than 125,000 signed up users, however, 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 space in Russia. According to our research study, it seems like he has actually transferred to Switzerland to introduce his crypto loaning platform YouHodler in 2017. I know that YouHodler has been praised by a few of you in the talk about previous videos, sadly, the platform isn’t publicly revealing any monetary reports, nor data about their user base or possessions under YouHodler’s management. When using YouHodler, this is something you should definitely think about. Carrying on to Nexo. Nexo declares to handle $12 B worth of possessions from more than 1.5 M of users. If this is correct, it would indicate that Nexo is two times as huge in regards to user base as Celsius with a much lower average

 

At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform claims to manage $12B from 1.5 M users, which we think is a bit of a steep growth even if we consider the hype in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our recent 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 financing platform, which is known for the “misuse of customers cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have actually reviewed some of the track records of the four discussed platforms, let’s briefly go over the functionality of every crypto loaning website. 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 provides some of the most sophisticated services amongst the crypto financing platforms.

 

YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have an actually solid idea of what every crypto financing platform is using. What you should consider however, is that as soon as you transfer your crypto on any platform, you are not owning your personal secrets anymore and your properties may get jeopardized either by 3rd parties or by the platform itself. Youhodler Bitcoin Reward Points

 

The only method to secure your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy is that you will only benefit from the increased value 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 thorough contrast, let’s have an appearance at our independent ratings of every classification for every platform.