Looking for Youhodler Series A…Much of you have requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the business design of private platforms, the return rates, the trustworthiness and track record, use of their apps and we will also talk about some of the threats that you should think about when depositing your crypto on among these platforms. We will also assemble the comparison with our independent ranking of the just-mentioned classifications for every platform. So keep watching till the end to find out how we scored individual platforms. If you are new to this channel and your objective is to end up being a more educated P2P investor,
consider subscribing and hit the like button to see more content like this in the future. So let’s very first give you a quick intro to every platform prior to we dive deeper into the comparison. 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 using Celsius Network to take a crypto loan or earn 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 presently not releasing loans in the United States due to local policies. BlockFi is the biggest
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of approved nations. Nexo is another European platform that offers crypto lovers the option to earn interest not only on their coins however also fiat deposits. Nexo is in truth, one of just two, to us known, crypto loaning platforms that provide interest on fiat deposits.
let’s talk about how they generate income in the first place. Celsius makes cash from the interest they charge to the customers which are either retail debtors or organizations, they likewise make money from their CEL token which is an energy token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which implies that Celsius utilizes the collateral from the borrowers and deploys it in order to generate extra earnings. BlockFi is also generating income through the interest that is being credited debtors. In addition to that, the platform likewise charges a 2% origination fee for anybody who wants to take a loan. Another income stream is BlockFi’s exchange function. When exchanging currencies, the platform makes money from the spread. BlockFi likewise charges withdrawal charges after your one free withdrawal each month. And the platform is likewise planning to launch a BlockFi credit card which will generate another earnings stream. YouHodler is likewise making money from the interest credited debtors. In addition to that, there is a little withdrawal charge and costs for additional services such as the Multi HODL tool, which is a feature that lets you take advantage of your crypto assets in exchange for prospective returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. Nexo likewise makes revenues with their Nexo token. That’s at least our interpretation from Nexo’s service design as the platform doesn’t have A dedicated area about
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this on their website. Now let’s talk about the returns. If you are seeing this video, you want to make money by transferring your coins on one of the platforms right? Before we compare the rates, there are a couple of things that you need to think about however. Every platform has particular limits and terms when it pertains to providing interest on your coins. So for instance, Celsius Network changes the rates every week to reflect the present market situation. Also, you are just able to make higher rates if you choose to receive the interest in Celsius’s own energy token. The higher reward rates are likewise not offered for US citizens. If you would not wish to pay out your rewards in the CEL token, you can presently anticipate 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 assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum ranges in between 0.5% and 4.5%, the rate for bitcoin is in between 0.5% and 5%, and the rate for the two stablecoins is currently at
9% per year. What deserves mentioning is that if you wish to conserve 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 significant gas charge, as the currency runs on the Binance Smart Chain with method lower costs in comparison to stablecoins that work on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler uses presently the most competitive rates for your USDC coins without the requirement to stake the platform’s own energy 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 offers higher rewards for those who wish 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 should remember is that platforms tend to adjust the rates from time to time, so you can’t actually predict the real return from your deposits. Also, bear in mind that by depositing your crypto, the worth of the currency may 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 mindful of the returns let’s briefly review the reliability of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this space. The creator Alex Mashinsky is a widely known business owner. Prior to launching the Celsius network, he has co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep an eye on the development and evaluate a few of the stats. As we are recording this video, there are over 650,000 users and the platform is managing $17 billion worth of possessions. Alone in the last 12 months, Celsius has Youhodler Series A
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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 also financed by lots of institutional financiers and the platform is primarily targeting the US market. According to our research, it seems like he has relocated to Switzerland to release his crypto financing 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 pointed out together with other warnings in our previous video. Also, at the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a high growth even if we think about the hype in the crypto space. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research, Antoni was a Bulgarian politician with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading regulated banks for digital properties. I would be actually interested by whom Nexo is regulated, as the business does not have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. During our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance company that apparently is funding Nexo. According to our recent research study, the executive board doesn’t even include Antoli, however only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “abuse of clients money”. Likewise when reviewing a few of Nexo’s comments from the CEO
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Nexo is the only platform that offers interest on fiat. Now that we have evaluated some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto lending site. While the crypto loans on BlockFi are only offered to U.S. people, the platform is likewise working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler provides some of the most sophisticated services among the crypto loaning platforms.
currencies on which you have the ability to earn interest. YouHodler enables you to exchange between various currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit quantities are very low, so you do not require to transfer numerous Dollars or euros to evaluate the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can only earn interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler also offers you the alternative to borrow fiat money in exchange for security. The platform presently supports just loans in us euros or dollars. YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also uses two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those functions exceeds this video, you can find out how it operates in our dedicated youhodler evaluation on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is likewise utilizing its utility tokens to offer better rates on loans, greater interests on crypto and fiat deposits, or more complimentary withdrawals per month. Also if you choose to stake your coins or fiat, implying you lock your assets for a defined term, you can get a greater rate of interest. Like BlockFi, Nexo also uses you to purchase, or exchange crypto if you want to hold your possessions in different currencies. Now you have a really solid idea of what every crypto lending platform is providing. 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 any longer and your possessions might get compromised either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the truth that you Youhodler Series A
The only method to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this strategy is that you will only 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 ratings of every category for every platform.