Yes so… Beveiliging Youhodler Wallet…A lot of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business model of individual platforms, the return rates, the reliability and performance history, use of their apps and we will likewise talk about a few of the risks that you need to consider when transferring your crypto on among these platforms. We will also assemble the contrast with our independent ranking of the just-mentioned categories for every single platform. So keep watching up until the end to find out how we scored private platforms. If you are new to this channel and your goal is to become a more educated P2P financier,
consider subscribing and hit the like button to see more material like this in the future. Let’s very first provide you a brief introduction 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. Presently, there are over 650,000 users using Celsius Network to make or take a crypto loan interest on their cryptocurrencies and stablecoins. In total, Celsius manages more than $17 B worth of possessions. The platform uses its services worldwide, however, they are presently not providing loans in the United States due to regional regulations. 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 worldwide with exception of sanctioned nations. Nexo is another European platform that uses crypto enthusiasts the option to earn interest not just on their coins however also fiat deposits. Nexo is in fact, one of only two, to us known, crypto financing platforms that use interest on fiat deposits.
And the platform is likewise preparing to introduce a BlockFi credit card which will create another income stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. That’s at least our analysis from Nexo’s business design as the platform doesn’t have A devoted area about
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this on their site. Now let’s speak about the returns. If you are watching this video, you want to generate income by depositing your coins on one of the platforms right? Prior to we compare the rates, there are a few things that you must think about though. When it comes to providing interest on your coins, every platform has specific limits and terms. So for instance, Celsius Network changes the rates weekly to show the present market situation. You are only able to make greater rates if you choose to get the interest in Celsius’s own utility token. The higher benefit rates are also not offered for US citizens. If you would not wish to pay your rewards in the CEL token, you can currently 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 upon the number of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum varieties 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% annually. 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 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 contrast to stablecoins that run on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler offers currently 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 uses higher benefits for those who wish 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. Also, 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 possessions if that’s something you would otherwise consider. Now, that you are conscious of the returns let’s briefly review 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 widely known business owner. 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 likewise able to keep an eye on the development and examine a few of the statistics. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of possessions. Alone in the last 12 months, Celsius has Beveiliging Youhodler Wallet
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At the start of January, Nexo had only $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 growth even if we think about the buzz in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our recent research study, the executive board doesn’t 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 “misuse of customers money”.
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in the media, he is frequently only promoting crypto and anticipating rates however does not have any deeper insights into the crypto loaning space or how Nexo is running. That’s just our impression from his Bloomberg talks. Likewise, Nexo is the only platform that provides 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 legal representatives, we struggle to comprehend the legal setup under which Nexo is using its services. Now that we have reviewed some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto lending website. Celsius has actually begun as a native mobile app. The app is well developed and it includes various security functions such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how many properties you are holding and what are the currently used rates. You can withdraw and move supported coins but there is no exchange, so if you do not transfer your cryptos from another wallet, you can buy them directly through the app. Keep in mind, nevertheless, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital possessions. BlockiFi makes a less developed impression. The app is extremely basic and so is the desktop variation of the platform. BlockFi supports currently just 10 digital currencies. The platform likewise provides a devoted exchange so you can even trade them. We don’t recommend this function that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are only offered to U.S. citizens, the platform is likewise dealing with a Bitcoin benefits credit card which will be competing with the charge card from Crypto.com YouHodler uses some of the most advanced services amongst the crypto lending platforms. Presently, the platform supports 18 digital
currencies on which you have the ability to make interest. YouHodler enables you to exchange in between different currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit quantities are really low, so you do not require to move hundreds of Dollars or euros to test the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can only make interest on your crypto assets. Apart from making interest on your deposits or exchanging cryptos, YouHodler also provides you the alternative to obtain fiat money in exchange for collateral. The platform presently supports only loans in us euros or dollars. YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise offers two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the performance of those functions exceeds this video, you can learn how it works in our dedicated youhodler review on p2pempire. Nexo’s usability is similar to Celsius Network. Nexo is also utilizing its energy tokens to offer much better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals per month. If you decide to stake your coins or fiat, meaning you lock your possessions for a specified term, you can get a higher interest rate. Like BlockFi, Nexo also uses you to purchase, or exchange crypto if you wish to hold your assets in different currencies. Now you have a really solid concept of what every crypto lending platform is using. What you must think about however, is that as soon as you transfer your crypto on any platform, you are not owning your private keys any longer and your properties may get compromised either by third parties or by the platform itself. It resembles 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 very clear about the fact that you Beveiliging Youhodler Wallet
give up your ownership of the possessions as long as you hold them in the platform’s wallet. The only way to safeguard your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The downside of this strategy 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 among the crypto financing platforms. However, just like any investment, it always boils down to the risk and return and your danger profile. Based on our thorough contrast, let’s have an appearance at our independent ratings of every category for every platform. Keep in mind, that we have actually appointed the rankings based upon our own research study. One represents the lowest score while 5 stands for the greatest score. Within the business design category.