Looking for Youhodler Calculator Loan…Many of you have requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of individual platforms, the return rates, the credibility and track record, usability of their apps and we will also speak about some of the threats that you need to consider when depositing your crypto on among these platforms. We will likewise assemble the comparison with our independent rating of the just-mentioned categories for every platform. So keep watching till completion to learn how we scored specific platforms. If you are brand-new to this channel and your goal is to end up being a more educated P2P financier,
Let’s first provide you a brief intro to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. The platform offers its services worldwide, nevertheless, they are currently not issuing loans in the United States due to regional policies.
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rival to Celsius Network. The US-based company has trading and loaning licenses in different US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is certainly worth thinking about.. The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved nations. YouHodler is most likely the most legitimate crypto lending platform in Europe. The business is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers really competitive rates on your crypto assets as well as several other functions which you won’t find on any other platforms. The platform is offered in lots of countries with the exception of Germany and the USA. If you reside in the states, you will not be able to use YouHodler’s services. Nexo is another European platform that offers crypto lovers the alternative to earn interest not just on their coins but likewise fiat deposits. Nexo is in truth, among just 2, to us understood, crypto financing platforms that provide interest on fiat deposits. The platform uses 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 preparing to launch a BlockFi credit card which will create another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. That’s at least our analysis from Nexo’s business design as the platform does not have A dedicated area about
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If you are seeing this video, you want to make money by transferring your coins on one of the platforms? Every platform has certain limits and terms when it comes to using interest on your coins. You are only able to earn higher rates if you choose to receive the interest in Celsius’s own energy token.
9% per year. What’s worth mentioning is that if you wish 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 need to pay the hefty gas fee, as the currency works on the Binance Smart Chain with way lower costs in contrast to stablecoins that operate on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler offers currently 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 provides higher rewards for those who wish to get 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 remember is that platforms tend to change the rates from time to time, so you can’t really anticipate the genuine return from your deposits. Keep in mind that by transferring your crypto, the value of the currency may reduce Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. So now, that you are aware of the returns let’s briefly review the credibility of the platforms and their track record. Celsius Network is likely the most genuine platform in this area. The founder Alex Mashinsky is a widely known business owner. Before introducing 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 evaluate a few of the stats. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Calculator Loan
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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 financial report for 2020, where you will find out that the platform is not successful. BlockFi is also financed by many institutional investors and the platform is mainly targeting the United States market. According to our research, it appears like he has transferred to Switzerland to introduce his crypto financing platform YouHodler in 2017.
deposit quantity as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting standards as we have actually mentioned together with other red flags in our previous video. Also, at the start of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform claims to manage $12B from 1.5 M users, which we believe is a bit of a steep development even if we think about the buzz in the crypto space. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research study, Antoni was a Bulgarian politician with experience in the fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading controlled banks for digital possessions. I would be truly 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, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our current research study, the executive board does not even consist of Antoli, but 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”. Also when reviewing some of Nexo’s comments 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 mentioned platforms, let’s briefly go over the functionality of every crypto financing website. While the crypto loans on BlockFi are only offered to U.S. residents, the platform is likewise working on a Bitcoin benefits credit card which will be completing with the credit card from Crypto.com YouHodler uses some of the most sophisticated services amongst the crypto lending platforms.
YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly strong concept of what every crypto financing platform is offering. What you must think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets anymore and your assets might get compromised either by 3rd celebrations or by the platform itself. Youhodler Calculator Loan
quit your ownership of the possessions 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 best way to keep your cryptos safe. The downside of this strategy is that you will just take advantage of the increased worth of your coin but not the interest on your deposits, which is something you can do on among the crypto loaning platforms. As with any investment, it constantly comes down to the risk and return and your threat profile. So based upon our thorough comparison, let’s take a look at our independent ratings of every category for every platform. Keep in mind, that we have appointed the ratings based on our own research study. One represents the most affordable rating while five mean the highest score. Within business model classification.