Youhodler Credit Card Hong Kong – Everything You Need to Know

Looking for Youhodler Credit Card Hong Kong…Many of you have actually asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business design of individual platforms, the return rates, the credibility and performance history, functionality of their apps and we will also speak about some of the dangers that you ought to think about when transferring your crypto on one of these platforms. We will also assemble the contrast with our independent ranking of the just-mentioned classifications for every platform. So keep watching up until the end to discover how we scored private platforms. if you are new to this channel and your objective is to end up being a more informed P2P investor

 

think about subscribing and hit the like button to see more material like this in the future. So let’s first provide you a brief 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 founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users utilizing Celsius Network to earn or take a crypto loan interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of possessions. The platform uses its services worldwide, nevertheless, they are presently not issuing loans in the United States due to local guidelines. BlockFi is the largest

youhodler crypto interest loans, platform for users

competitor to Celsius Network. The US-based business has trading and loaning licenses in different US states. If you are looking for a wealth-management app for your crypto properties BlockFi is definitely worth thinking about. The platform uses crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved nations. YouHodler is likely the most legitimate crypto financing platform in Europe. The company is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers very competitive rates on your crypto properties in addition to numerous other features which you won’t find on any other platforms. The platform is readily available in numerous nations with the exception of Germany and the U.S.A.. If you live in the states, you will not be able to use YouHodler’s services. Nexo is another European platform that offers crypto enthusiasts the option to earn interest not only on their coins however likewise fiat deposits. Nexo is in fact, one of only 2, to us understood, crypto loaning platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick summary of every platform

 

And the platform is also 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 customers. That’s at least our interpretation from Nexo’s business model as the platform doesn’t have A devoted area about

money fees on celsius services priced about stablecoins  profit margin Youhodler Credit Card Hong Kong

this on their site. Now let’s talk about the returns. If you are enjoying this video, you want to earn money by depositing your coins on among the platforms right? Before we compare the rates, there are a couple of things that you must think about. Every platform has certain limits and terms when it comes to providing interest on your coins. So for example, Celsius Network alters the rates weekly to show the current market circumstance. You are only able to make higher rates if you decide to receive the interest in Celsius’s own utility token. The greater reward rates are also not offered for US citizens. If you would not wish to pay your benefits in the CEL token, you can presently expect 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 number of your properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum varieties in between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

You can make 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers greater rewards for those who desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you must keep in mind is that platforms tend to change the rates from time to time, so you can’t really anticipate the real return from your deposits. Youhodler Credit Card Hong Kong

bitcoin amount of lending service with value feature trading

paid 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 addressing the most frequently asked questions, which is something rather unusual in this area. 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 monetary report for 2020, where you will find out that the platform is not profitable. 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 area. BlockFi is likewise funded by lots of institutional investors and the platform is generally targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are available Only for U.S people as BlockFi has the necessary financing licenses only in the U.S. If you wish to inspect BlockFi’s data you will not more than happy as there are none readily available. Some external sources recommend that there are more than 125,000 registered users, nevertheless, we were unable 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, it appears like he has moved to Switzerland to launch his crypto lending platform YouHodler in 2017. I know that YouHodler has actually been applauded by a few of you in the discuss previous videos, regrettably, the platform isn’t openly revealing any monetary reports, nor data about their user base or assets under YouHodler’s management. This is something you need to definitely consider when using YouHodler. Proceeding to Nexo. Nexo declares to manage $12 B worth of possessions from more than 1.5 M of users. If this is correct, it would mean that Nexo is two times as big in terms of 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 declares to handle $12B from 1.5 M users, which we think is a bit of a steep growth even if we think about 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 funding Nexo. According to our recent research, the executive board doesn’t even include Antoli, however just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “misuse of customers cash”.

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is frequently only promoting crypto and forecasting rates however does not have any deeper insights into the crypto lending area or how Nexo is running. That’s simply our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not lawyers, we have a hard time to understand the legal setup under which Nexo is providing its services. Now that we have reviewed some of the track records of the 4 discussed platforms, let’s briefly go over the usability of every crypto financing website. Celsius has actually begun as a native mobile app. The app is well developed and it features various security functions such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you have the ability to see how many possessions you are holding and what are the presently used rates. You can withdraw and transfer supported coins however there is no exchange, so if you do not transfer your cryptos from another wallet, you can buy them directly through the app. Note, however, that there might be fees for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital properties. BlockiFi makes a less industrialized impression. The app is really simple therefore is the desktop version of the platform. BlockFi supports currently just 10 digital currencies. The platform likewise provides a devoted exchange so you can even trade them. We do not advise this function that much as the currency exchange rate are not the very best. While the crypto loans on BlockFi are just readily available to U.S. citizens, the platform is likewise working on a Bitcoin rewards charge card which will be competing with the charge card from Crypto.com YouHodler provides a few of the most innovative services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

currencies on which you are able to earn interest. YouHodler permits you to exchange in between different currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are extremely low, so you don’t need to transfer numerous Dollars or euros to test the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can only earn interest on your crypto possessions. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise offers you the option to obtain fiat money in exchange for collateral. The platform currently supports only loans in us euros or dollars. YouHodler is also among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise uses two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those functions exceeds this video, you can discover how it operates in our dedicated youhodler review on p2pempire. Nexo’s use resembles Celsius Network. Nexo is also utilizing its energy tokens to provide better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals each month. If you decide to stake your coins or fiat, suggesting you lock your assets for a defined term, you can get a higher interest rate. Like BlockFi, Nexo also uses you to purchase, or exchange crypto if you wish to hold your properties in numerous currencies. Now you have a really solid idea of what every crypto financing platform is providing. What you must consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys any longer and your properties may get jeopardized either by third parties or by the platform itself. It’s like depositing your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are really clear about the fact that you Youhodler Credit Card Hong Kong

 

give up your ownership of the properties as long as you hold them in the platform’s wallet. The only way to secure your crypto is to keep 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 technique is that you will only gain from the increased worth of your coin but not the interest on your deposits, which is something you can do on among the crypto financing platforms. However, just like any financial investment, it always boils down to the danger and return and your danger profile. Based on our thorough comparison, let’s have a look at our independent scores of every category for every platform. Note, that we have assigned the ratings based on our own research. One represents the lowest rating while 5 mean the greatest rating. Within the business model category.