Youhodler Vs Bitcoin – Everything You Need to Know

Looking for Youhodler Vs Bitcoin…A lot of you have requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business model of private platforms, the return rates, the reliability and performance history, usability of their apps and we will also speak about some of the dangers that you must consider when transferring your crypto on among these platforms. We will likewise assemble the comparison with our independent rating of the just-mentioned classifications for every single platform. So keep watching till the end to find out how we scored specific platforms. If you are brand-new to this channel and your goal is to become a more educated P2P financier,

 

think about 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 before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform in the world, 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 total, Celsius manages more than $17 B worth of assets. The platform provides its services worldwide, nevertheless, they are currently not releasing loans in the United States due to regional guidelines. BlockFi is the biggest

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The platform uses crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved nations. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not just on their coins but likewise fiat deposits. Nexo is in reality, one of just 2, to us understood, crypto loaning platforms that use interest on fiat deposits.

 

And the platform is likewise preparing to introduce a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. That’s at least our interpretation from Nexo’s company model 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 specific limitations and terms when it comes to using interest on your coins. You are only able to earn greater rates if you choose to get the interest in Celsius’s own energy token.

 

9% annually. What deserves pointing out 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 need to pay the large gas cost, as the currency works on the Binance Smart Chain with method lower fees in comparison to stablecoins that operate 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 uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides 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 should bear in mind is that platforms tend to adjust the rates from time to time, so you can’t actually predict the genuine return from your deposits. Keep in mind that by depositing your crypto, the worth of the currency might reduce Which will make it hard for you to liquidate your assets if that’s something you would otherwise think about. Now, that you are aware of the returns let’s briefly evaluation the reliability of the platforms and their track record. Celsius Network is likely the most legitimate platform in this space. The creator Alex Mashinsky is a popular entrepreneur. Prior to releasing 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 progress and review a few of the statistics. 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 Vs Bitcoin

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The platform is not transparent when it comes to sharing its monetary 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 transferred to Switzerland to release his crypto loaning platform YouHodler in 2017.

 

At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform claims to manage $12B from 1.5 M users, which we believe is a bit of a steep growth even if we think about the buzz in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan company that obviously is funding Nexo. According to our current research, 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 understood for the “abuse of clients money”.

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Nexo is the only platform that offers interest on fiat. Now that we have actually evaluated some of the track records of the four mentioned platforms, let’s briefly go over the functionality of every crypto loaning site. While the crypto loans on BlockFi are just available to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler offers some of the most sophisticated services among the crypto lending platforms.

 

YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have an actually strong idea of what every crypto loaning platform is using. What you need to consider however, is that as soon as you transfer your crypto on any platform, you are not owning your private secrets anymore and your possessions may get compromised either by third parties or by the platform itself. Youhodler Vs Bitcoin

 

The only way to protect your crypto is to keep it on a devoted hardware wallet like this one from Trezor. The disadvantage of this technique is that you will just 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 loaning platforms. Based on our in-depth comparison, let’s have a look at our independent ratings of every category for every platform.