Youhodler Crypto South Africa – Everything You Need to Know

Looking for Youhodler Crypto South Africa…Many of you have asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business model of private platforms, the return rates, the reliability and performance history, usability of their apps and we will likewise discuss a few of the risks that you need to think about when transferring your crypto on one of these platforms. We will also round up the comparison with our independent rating of the just-mentioned classifications for every single platform. Keep watching up until the end to find out how we scored individual platforms. If you are new to this channel and your goal is to end up being a more informed P2P financier,

 

consider subscribing and struck the like button to see more material like this in the future. 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 financing platform on the planet, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing 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 possessions. The platform offers its services worldwide, nevertheless, they are presently not issuing loans in the United States due to regional regulations. BlockFi is the biggest

youhodler crypto interest loans, platform for users

rival to Celsius Network. The US-based business has trading and lending licenses in numerous US states. , if you are looking for a wealth-management app for your crypto assets BlockFi is certainly worth thinking about.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of approved countries. YouHodler is likely the most genuine crypto financing platform in Europe. The company is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler uses extremely competitive rates on your crypto possessions as well as numerous other features which you will not discover on any other platforms. The platform is offered in many nations with the exception of Germany and the U.S.A.. So if you reside in the states, you won’t have the ability to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the option to make interest not only on their coins however likewise fiat deposits. Nexo is in fact, among just 2, to us understood, crypto financing 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 overview of every platform

 

let’s talk about how they earn money in the first place. Celsius makes cash from the interest they charge to the borrowers which are either retail borrowers or organizations, they also make money from their CEL token which is an utility token that you can utilize to increase your rewards on Celsius Network. Another income stream is the rehypothecation which implies that Celsius uses the collateral from the borrowers and deploys it in order to create additional income. BlockFi is likewise earning money through the interest that is being credited borrowers. The platform also charges a 2% origination fee for anyone who desires to take a loan. Another earnings stream is BlockFi’s exchange function. When exchanging currencies, the platform makes cash from the spread. BlockFi also charges withdrawal fees after your one free withdrawal monthly. And the platform is likewise preparing to introduce a BlockFi charge card which will produce another earnings stream. YouHodler is also earning money from the interest credited borrowers. In addition to that, there is a small withdrawal fee and charges for additional services such as the Multi HODL tool, which is a feature that lets you utilize your crypto properties in exchange for prospective returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. Nexo likewise makes revenues with their Nexo token. That’s at least our analysis from Nexo’s organization model as the platform does not have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Youhodler Crypto South Africa

If you are viewing this video, you want to make money by transferring your coins on one of the platforms? Every platform has specific limitations and terms when it comes to providing interest on your coins. You are only able to make greater rates if you choose to get the interest in Celsius’s own energy token.

 

9% per year. What’s worth mentioning is that if you want to save some fees, 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 large gas cost, as the currency works on the Binance Smart Chain with way lower costs in contrast to stablecoins that work on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler provides presently the most competitive rates for your USDC coins without the need to stake the platform’s own energy tokens. 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 offers higher rewards for those who wish to receive the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really predict the real return from your deposits. Also, remember that by depositing your crypto, the value of the currency might decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise think about. Now, that you are mindful of the returns let’s briefly evaluation the credibility of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The creator Alex Mashinsky is a well-known business owner. Before launching the Celsius network, he has actually co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the development and evaluate a few of the data. As we are recording this video, there are over 650,000 users and the platform is managing $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Crypto South Africa

bitcoin amount of lending service with value feature trading

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 addressing the most frequently asked questions, which is something rather uncommon 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 financial report for 2020, where you will find out that the platform is not rewarding yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development space rather than the fintech space. BlockFi is also financed by numerous 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 citizens as BlockFi has the required loaning licenses only in the U.S. If you want to check BlockFi’s statistics you will not be happy as there are none readily available. Some external sources suggest that there are more than 125,000 registered users, however, we were unable to verify 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 appears like he has relocated to Switzerland to launch his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been applauded by a few of you in the talk about previous videos, unfortunately, the platform isn’t openly revealing any monetary reports, nor statistics about their user base or assets under YouHodler’s management. This is something you need to definitely consider when utilizing YouHodler. Proceeding to Nexo. Nexo claims to handle $12 B worth of assets from more than 1.5 M of users. If this is correct, it would suggest that Nexo is two times as big in regards to user base as Celsius with a much lower average

 

deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have actually mentioned together with other red flags in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform declares to manage $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. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian politician with experience in the style Retail industry. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital properties. I would be truly interested by whom Nexo is regulated, as the business doesn’t have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the website. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance loan company that apparently is financing Nexo. According to our current research, the executive board does not even include Antoli, but just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is understood for the “misuse of clients cash”. Likewise when evaluating some of Nexo’s comments from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is frequently only promoting crypto and forecasting prices but lacks any much deeper insights into the crypto loaning space or how Nexo is running. But that’s just our impression from his Bloomberg talks. Likewise, Nexo is the only platform that uses interest on fiat. According to our understanding, you can not use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Even though we are not lawyers, we have a hard time to understand the legal setup under which Nexo is offering its services. Now that we have actually examined some of the track records of the four pointed out platforms, let’s briefly go over the functionality of every crypto financing website. Celsius has begun as a native mobile app. The app is well established and it comes with numerous security functions such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how numerous possessions you are holding and what are the currently provided rates. You can move and withdraw supported coins however there is no exchange, so if you don’t transfer your cryptos from another wallet, you can acquire them straight 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 developed impression. The app is extremely easy therefore is the desktop variation of the platform. BlockFi supports currently only 10 digital currencies. The platform also uses a devoted exchange so you can even trade them. We do not advise this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are only available to U.S. residents, the platform is likewise dealing with a Bitcoin rewards charge card which will be competing with the credit card from Crypto.com YouHodler provides some of the most innovative services among the crypto lending platforms. Presently, the platform supports 18 digital

 

currencies on which you are able to make interest. YouHodler enables you to exchange in between different currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit quantities are very low, so you do not need to transfer numerous Dollars or euros to evaluate the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can just make interest on your crypto assets. Apart from making interest on your deposits or exchanging cryptos, YouHodler also uses you the alternative to borrow fiat money in exchange for collateral. The platform currently supports just loans in us dollars or euros. YouHodler is likewise among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the functionality of those functions exceeds this video, you can discover how it works in our devoted youhodler review on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is also using its utility tokens to provide better rates on loans, greater interests on crypto and fiat deposits, or more complimentary withdrawals per month. If you choose to stake your coins or fiat, implying you lock your possessions for a defined term, you can get a greater interest rate. Like BlockFi, Nexo likewise uses you to purchase, or exchange crypto if you wish to hold your properties in various currencies. Now you have a really strong idea of what every crypto lending platform is using. What you need to think about however, is that as soon as you transfer your crypto on any platform, you are not owning your private keys anymore and your properties might get jeopardized either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you don’t own the keys, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are extremely clear about the fact that you Youhodler Crypto South Africa

 

quit your ownership of the properties as long as you hold them in the platform’s wallet. The only method to safeguard 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 technique is that you will just gain from the increased value of your coin but not the interest on your deposits, which is something you can do on among the crypto loaning platforms. However, just like any investment, it always comes down to the risk and return and your risk profile. So based on our thorough comparison, let’s have a look at our independent ratings of every classification for every single platform. Keep in mind, that we have actually assigned the rankings based on our own research. One represents the most affordable rating while five mean the highest score. Within business model classification.