Looking for Youhodler Loan Europe…Many of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the company model of private platforms, the return rates, the reliability and track record, functionality of their apps and we will also talk about some of the threats that you need to think about when transferring your crypto on one of these platforms.
consider subscribing and struck the like button to see more material like this in the future. Let’s first give you a short introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform worldwide, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or earn interest on their cryptocurrencies and stablecoins. In total, 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
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The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of approved nations. Nexo is another European platform that provides crypto enthusiasts the alternative to make interest not only on their coins but also fiat deposits. Nexo is in fact, one of just 2, to us known, crypto loaning platforms that provide interest on fiat deposits.
And the platform is also planning to introduce 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 customers. That’s at least our interpretation from Nexo’s organization design as the platform does not have A devoted section about
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If you are enjoying this video, you want to make money by transferring your coins on one of the platforms? Every platform has particular limits and terms when it comes to providing interest on your coins. You are only able to earn higher rates if you decide to receive the interest in Celsius’s own utility 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 deposit the Binance USD coin for which you will not require to pay the hefty gas fee, as the currency works on the Binance Smart Chain with method lower costs in contrast to stablecoins that run on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler offers presently the most competitive rates for your USDC coins without the need to stake the platform’s own utility 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 uses higher benefits for those who want to get 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 remember is that platforms tend to change the rates from time to time, so you can’t really predict the real return from your deposits. Likewise, keep in mind that by depositing your crypto, the worth of the currency might decrease Which will make it hard for you to liquidate your possessions if that’s something you would otherwise think about. Now, that you are conscious of the returns let’s briefly evaluation the trustworthiness of the platforms and their track record. Celsius Network is likely the most legitimate platform in this area. The founder Alex Mashinsky is a widely known entrepreneur. Prior to launching the Celsius network, he has actually co-founded three startups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the progress and examine some of the stats. As we are tape-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 Loan Europe
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At the beginning 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 think is a bit of a steep development even if we consider the hype in the crypto space. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our current research study, the executive board does not 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 known for the “abuse of clients cash”.
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in the media, he is often only promoting crypto and predicting prices however does not have any much deeper insights into the crypto financing space or how Nexo is operating. That’s just our impression from his Bloomberg talks. Nexo is the only platform that uses interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not attorneys, we have a hard time to comprehend the legal setup under which Nexo is using its services. Now that we have reviewed some of the track records of the 4 pointed out platforms, let’s briefly go over the functionality of every crypto lending website. Celsius has 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 dashboard, you are able to see the number of assets you are holding and what are the presently used 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 buy them directly through the app. Keep in mind, however, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less developed impression. The app is extremely basic therefore is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform likewise uses 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 best. While the crypto loans on BlockFi are just readily available to U.S. people, the platform is also working on a Bitcoin benefits charge card which will be competing with the charge card from Crypto.com YouHodler offers a few of the most sophisticated services amongst the crypto loaning platforms. Presently, the platform supports 18 digital
YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have a truly solid idea of what every crypto loaning platform is providing. 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 secrets anymore and your possessions might get jeopardized either by third parties or by the platform itself. Youhodler Loan Europe
The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The drawback of this strategy is that you will just benefit from the increased worth of your coin however not the interest on your deposits, which is something you can do on one of the crypto loaning platforms. Based on our thorough contrast, let’s have a look at our independent rankings of every category for every platform.