Youhodler Lending Review – Everything You Need to Know

Looking for Youhodler Lending Review…Numerous of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the company model of private platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will likewise talk about some of the threats that you need to consider when depositing your crypto on one of these platforms.

 

consider subscribing and hit the like button to see more material like this in the future. So let’s first offer you a short intro to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform on the planet, which was founded in 2017 by Alex Mashinsky. Currently, 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 handles more than $17 B worth of assets. The platform provides its services worldwide, nevertheless, they are currently not providing loans in the United States due to local policies. BlockFi is the largest

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competitor to Celsius Network. The US-based company has trading and financing licenses in numerous US states. , if you are looking for a wealth-management app for your crypto assets BlockFi is certainly worth considering.. The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned nations. YouHodler is likely the most legitimate crypto lending platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers extremely competitive rates on your crypto possessions along with a number of other features which you won’t find on any other platforms. The platform is readily available in lots of nations with the exception of Germany and the USA. If you reside in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the choice to make interest not only on their coins however also fiat deposits. Nexo remains in fact, one of just two, to us understood, crypto financing platforms that use interest on fiat deposits. The platform uses 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 launch a BlockFi credit card which will generate another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. That’s at least our analysis from Nexo’s business model as the platform doesn’t have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Youhodler Lending Review

If you are watching 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 offering interest on your coins. You are just able to earn higher rates if you choose to receive the interest in Celsius’s own utility token.

 

9% per year. What’s worth discussing is that if you want to save some costs, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not require to pay the large 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 provides currently the most competitive rates for your USDC coins without the need 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 uses higher rewards for those who wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform provides 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to keep in mind is that platforms tend to change the rates from time to time, so you can’t actually anticipate the genuine return from your deposits. Keep in mind that by depositing your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your assets if that’s something you would otherwise think about. So now, that you are aware of the returns let’s briefly review the reliability of the platforms and their performance history. Celsius Network is likely the most legitimate platform in this area. The founder Alex Mashinsky is a widely known entrepreneur. Prior to introducing the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the progress and evaluate a few of the data. As we are 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 Lending Review

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paid out 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 resolving the most frequently asked questions, which is something rather uncommon in this space. The platform is not transparent when it comes to 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 discover out that the platform is not rewarding. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development space instead of the fintech area. BlockFi is also funded by many institutional investors and the platform is mainly targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Only for U.S people as BlockFi has the necessary lending licenses just in the U.S. , if you desire to examine BlockFi’s stats you won’t be delighted as there are none readily available.. Some external sources suggest that there are more than 125,000 registered users, nevertheless, 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 moved to Switzerland to launch his crypto financing platform YouHodler in 2017. I understand that YouHodler has been applauded by some of you in the discuss previous videos, regrettably, the platform isn’t publicly revealing any financial reports, nor stats about their user base or assets under YouHodler’s management. When using YouHodler, this is something you should certainly consider. Moving on to Nexo. Nexo declares to manage $12 B worth of possessions from more than 1.5 M of users. It would indicate that Nexo is two times as huge in terms of user base as Celsius with a much lower average if this is right

 

At the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later, the platform claims to handle $12B from 1.5 M users, which we believe is a bit of a steep development even if we consider the buzz in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan company that obviously is financing Nexo. According to our recent research study, the executive board does not 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 financing platform, which is known for the “abuse of customers money”.

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Nexo is the only platform that provides interest on fiat. Now that we have reviewed some of the track records of the 4 discussed platforms, let’s briefly go over the functionality of every crypto financing website. While the crypto loans on BlockFi are just available to U.S. people, the platform is also working on a Bitcoin rewards credit card which will be completing with the credit card from Crypto.com YouHodler uses some of the most advanced services among the crypto lending platforms.

 

YouHodler is likewise one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have an actually strong concept of what every crypto financing platform is offering. What you must consider however, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys any longer and your assets might get compromised either by 3rd parties or by the platform itself. Youhodler Lending Review

 

The only method to safeguard your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The drawback of this method is that you will just benefit from the increased value of your coin but not the interest on your deposits, which is something you can do on one of the crypto loaning platforms. Based on our in-depth comparison, let’s have a look at our independent rankings of every category for every platform.