Youhodler Crypto Bonus – Everything You Need to Know

Looking for Youhodler Crypto Bonus…Many of you have asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing business design of specific platforms, the return rates, the reliability and performance history, use of their apps and we will likewise speak about a few of the risks that you ought to think about when depositing your crypto on one of these platforms. We will likewise assemble the comparison with our independent rating of the just-mentioned categories for every single platform. Keep seeing till the end to find out how we scored private platforms. if you are new to this channel and your objective is to become a more informed P2P financier

 

think about subscribing and struck the like button to see more material like this in the future. Let’s first give you a brief intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform worldwide, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or make interest on their stablecoins and cryptocurrencies. In overall, Celsius handles more than $17 B worth of assets. The platform uses its services worldwide, however, they are currently not providing loans in the United States due to local guidelines. BlockFi is the biggest

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The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of sanctioned countries. Nexo is another European platform that uses crypto enthusiasts the option to earn interest not only on their coins but also fiat deposits. Nexo is in fact, one of just 2, to us understood, crypto financing platforms that offer interest on fiat deposits.

 

And the platform is also preparing to launch a BlockFi credit card which will produce 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 company design as the platform doesn’t have A devoted area about

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this on their site. Now let’s speak about the returns. If you are enjoying this video, you want to generate income by transferring your coins on one of the platforms right? Before we compare the rates, there are a few things that you need to think about though. Every platform has specific limitations and terms when it pertains to providing interest on your coins. For example, Celsius Network alters the rates every week to show the existing market circumstance. Also, you are just able to earn greater rates if you decide to get the interest in Celsius’s own utility token. The higher benefit rates are likewise not readily available for US people. If you would not wish to pay out your rewards in the CEL token, you can currently expect to receive 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 on 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 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 earn 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 want to get the interest in the native NEXO tokens rather of the deposited currency. What you should keep in mind is that platforms tend to change the rates from time to time, so you can’t truly predict the genuine return from your deposits. Youhodler Crypto Bonus

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paid 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 uncommon in this space. The platform is not transparent when it concerns sharing its financial reports, however with a little bit of digging, you can get your hands on the financial report for 2020, where you will learn that the platform is not successful yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development space rather than the fintech space. BlockFi is also funded by lots of 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 available Just for U.S people as BlockFi has the required loaning licenses just in the U.S. If you want to check BlockFi’s data you will not enjoy as there are none available. Some external sources suggest that there are more than 125,000 registered users, however, 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, it seems like he has moved to Switzerland to introduce his crypto loaning platform YouHodler in 2017. I understand that YouHodler has actually been praised by some of you in the discuss previous videos, sadly, 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 should certainly think about. Proceeding to Nexo. Nexo claims to manage $12 B worth of properties from more than 1.5 M of users. It would imply that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is proper

 

deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting standards as we have explained together with other warnings in our previous video. At the start of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform claims to handle $12B from 1.5 M users, which we believe is a bit of a high development even if we consider the buzz in the crypto space. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian politician with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled financial institution for digital properties. I would be truly interested by whom Nexo is managed, as the company doesn’t have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance loan business that apparently is funding Nexo. According to our current research study, the executive board doesn’t even consist of Antoli, but just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is understood for the “misuse of customers cash”. When reviewing some of Nexo’s comments from the CEO

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in the media, he is often only promoting crypto and anticipating prices however lacks any deeper insights into the crypto financing area or how Nexo is running. But that’s simply our impression from his Bloomberg talks. Also, Nexo is the only platform that offers 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. Despite the fact that we are not legal representatives, we struggle 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 loaning site. Celsius has begun as a native mobile app. The app is well developed and it comes with various security functions such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you have the ability to see the number of possessions you are holding and what are the currently offered rates. You can transfer and withdraw supported coins however there is no exchange, so if you don’t deposit your cryptos from another wallet, you can acquire them directly through the app. Note, however, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital properties. BlockiFi makes a less industrialized impression. The app is really basic therefore is the desktop variation of the platform. BlockFi supports currently just 10 digital currencies. The platform also offers a devoted exchange so you can even trade them. We do not advise this feature that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be competing with the charge card from Crypto.com YouHodler uses a few of the most advanced services amongst the crypto loaning platforms. Presently, 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 strong idea of what every crypto lending platform is offering. What you should think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your personal keys anymore and your properties might get compromised either by third parties or by the platform itself. Youhodler Crypto Bonus

 

give up your ownership of the assets as long as you hold them in the platform’s wallet. The only way to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the very best method to keep your cryptos safe. The disadvantage of this method is that you will just take advantage of the increased worth of your coin however 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 threat and return and your threat profile. So based upon our in-depth 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 upon our own research. One represents the most affordable ranking while 5 mean the greatest rating. Within the business model category.