Youhodler Is Down – Everything You Need to Know

Looking for Youhodler Is Down…Many of you have asked for a comparison in 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 organization design of private platforms, the return rates, the credibility and track record, usability of their apps and we will also talk about some of the dangers that you must think about when depositing your crypto on one of these platforms.

 

Let’s first provide you a brief introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform in the world, which was established in 2017 by Alex Mashinsky. The platform uses its services worldwide, nevertheless, they are presently not providing loans in the United States due to regional regulations.

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competitor to Celsius Network. The US-based company has trading and lending licenses in various US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is definitely 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 nations. YouHodler is likely the most genuine crypto loaning platform in Europe. The business is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler provides extremely competitive rates on your crypto possessions in addition to numerous other features which you will not discover on any other platforms. The platform is offered in numerous countries with the exception of Germany and the USA. If you reside in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that offers crypto enthusiasts the alternative to earn interest not just on their coins however also fiat deposits. Nexo is in truth, among only 2, to us known, crypto loaning platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a short introduction of every platform

 

And the platform is also preparing to release a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the debtors. That’s at least our analysis from Nexo’s company model as the platform does not have A dedicated area about

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If you are viewing this video, you desire to make money by depositing your coins on one of the platforms? Every platform has certain limits and terms when it comes to offering interest on your coins. You are only able to make higher rates if you decide to receive the interest in Celsius’s own utility token.

 

9% each year. What’s worth pointing out is that if you wish to save some charges, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not need to pay the hefty gas charge, as the currency operates on the Binance Smart Chain with way lower costs in comparison to stablecoins that run 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 requirement to stake the platform’s own energy tokens. 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 higher rewards for those who want 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 bear in mind is that platforms tend to adjust the rates from time to time, so you can’t actually forecast the real return from your deposits. Keep in mind that by depositing your crypto, the worth of the currency may reduce Which will make it hard for you to liquidate your properties if that’s something you would otherwise think about. 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 space. The founder Alex Mashinsky is a well-known entrepreneur. Prior to launching the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep track of the progress 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 assets. Alone in the last 12 months, Celsius has Youhodler Is Down

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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 discover out that the platform is not profitable. BlockFi is also financed by lots of institutional financiers and the platform is mainly targeting the United States market. According to our research study, it seems like he has relocated to Switzerland to introduce his crypto loaning platform YouHodler in 2017.

 

deposit amount 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 warnings in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform claims to manage $12B from 1.5 M users, which we think 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 upon our research study, Antoni was a Bulgarian political leader with experience in the style 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 managed, as the company doesn’t have a loaning license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan company that apparently is funding Nexo. According to our current research study, the executive board doesn’t even consist of Antoli, however only 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 “abuse of clients money”. Also when evaluating a few of Nexo’s remarks from the CEO

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in the media, he is often only promoting crypto and forecasting rates but does not have any much deeper insights into the crypto financing area or how Nexo is running. But that’s simply our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our understanding, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Despite the fact that we are not legal representatives, we struggle to comprehend the legal setup under which Nexo is providing its services. Now that we have evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the usability of every crypto financing site. Celsius has begun as a native mobile app. The app is well developed and it comes with different security functions such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see the number of properties you are holding and what are the presently provided rates. You can move and withdraw supported coins however there is no exchange, so if you don’t deposit your cryptos from another wallet, you can purchase them directly through the app. Keep in mind, nevertheless, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital properties. BlockiFi makes a less industrialized impression. The app is extremely simple therefore is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform also offers a devoted exchange so you can even trade them. We don’t advise this function that much as the exchange rates are not the best. While the crypto loans on BlockFi are just offered to U.S. people, the platform is also working on a Bitcoin rewards charge card which will be taking on the charge card from Crypto.com YouHodler offers some of the most innovative services among the crypto loaning platforms. Presently, the platform supports 18 digital

 

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 lending platform is offering. What you need to consider though, is that as soon as you deposit your crypto on any platform, you are not owning your private keys anymore and your assets might get compromised either by 3rd celebrations or by the platform itself. Youhodler Is Down

 

The only method to secure your crypto is to keep it on a devoted hardware wallet like this one from Trezor. The drawback of this strategy is that you will only benefit from the increased value of your coin however not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our in-depth contrast, let’s have a look at our independent scores of every classification for every platform.