Yes so… Bitcoin Loan Apk…Many of you have requested a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the organization model of individual platforms, the return rates, the credibility and track record, functionality of their apps and we will also talk about some of the threats that you must consider when depositing your crypto on one of these platforms.
Let’s first provide you a quick introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform in the world, which was founded in 2017 by Alex Mashinsky. The platform uses its services worldwide, nevertheless, they are currently not providing loans in the United States due to regional regulations.
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of sanctioned nations. Nexo is another European platform that provides crypto lovers the alternative to make interest not only on their coins however also fiat deposits. Nexo is in fact, one of only two, to us understood, crypto financing platforms that offer interest on fiat deposits.
let’s speak about how they make money in the first place. So Celsius makes money from the interest they charge to the borrowers which are either retail borrowers or organizations, they likewise generate income from their CEL token which is an utility token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which means that Celsius uses the security from the debtors and deploys it in order to produce extra income. BlockFi is also generating income through the interest that is being charged to customers. The platform likewise charges a 2% origination cost for anyone who wants to take a loan. Another earnings stream is BlockFi’s exchange function. The platform generates income from the spread when exchanging currencies. BlockFi also charges withdrawal charges after your one free withdrawal per month. And the platform is also planning to launch a BlockFi credit card which will generate another income stream. YouHodler is also earning money from the interest charged to customers. In addition to that, there is a little withdrawal charge and fees for extra services such as the Multi HODL tool, which is a function that lets you leverage your crypto properties in exchange for possible returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. Nexo likewise makes earnings with their Nexo token. That’s at least our analysis from Nexo’s business design as the platform does not have A devoted area about
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If you are viewing this video, you want to make cash by transferring your coins on one of the platforms? Every platform has particular limitations and terms when it comes to offering interest on your coins. You are only able to earn greater rates if you decide to receive the interest in Celsius’s own utility token.
You can earn 12% interest on your USDC holdings and the platform provides 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses greater benefits for those who want to get the interest in the native NEXO tokens instead of the deposited currency. What you must keep in mind is that platforms tend to change the rates from time to time, so you can’t really predict the genuine return from your deposits. Bitcoin Loan Apk
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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 addressing the most frequently asked questions, which is something rather uncommon in this area. The platform is not transparent when it pertains to sharing its monetary reports, but with a bit of digging, you can get your hands on the financial report for 2020, where you will discover that the platform is not profitable yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development area instead of the fintech space. BlockFi is also funded by numerous institutional investors and the platform is generally targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are offered Only for U.S people as BlockFi has the necessary loaning licenses only in the U.S. , if you want to examine BlockFi’s data you will not be delighted as there are none offered.. Some external sources recommend that there are more than 125,000 signed up users, however, we were unable to verify any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research study, it looks like he has actually moved to Switzerland to introduce his crypto financing platform YouHodler in 2017. I know that YouHodler has actually been applauded by some of you in the comments on previous videos, regrettably, the platform isn’t openly revealing any financial reports, nor stats about their user base or properties under YouHodler’s management. This is something you should definitely consider when utilizing YouHodler. Moving on to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. If this is proper, it would mean that Nexo is twice as huge in regards to user base as Celsius with a much lower average
deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have pointed out together with other red flags in our previous video. At the start of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a bit of a steep growth even if we consider the buzz 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 describes Nexo as the leading managed banks for digital assets. I would be really interested by whom Nexo is regulated, as the business does not have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. Throughout our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the site. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan company that obviously is funding Nexo. According to our recent research, the executive board does not even include Antoli, but only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is understood for the “abuse of customers cash”. Likewise when reviewing some of Nexo’s comments from the CEO
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Nexo is the only platform that uses interest on fiat. Now that we have examined some of the track records of the four pointed out platforms, let’s briefly go over the use of every crypto lending site. While the crypto loans on BlockFi are just offered to U.S. citizens, the platform is likewise working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most innovative services among the crypto financing platforms.
YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a really solid idea of what every crypto loaning platform is using. What you need to think about though, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys any longer and your possessions may get jeopardized either by 3rd celebrations or by the platform itself. Bitcoin Loan Apk
quit your ownership of the properties as long as you hold them in the platform’s wallet. The only way to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The drawback of this technique is that you will just take advantage of the increased value of your coin but not the interest on your deposits, which is something you can do on among the crypto financing platforms. However, similar to any financial investment, it constantly boils down to the danger and return and your danger profile. Based on our thorough comparison, let’s have an appearance at our independent ratings of every category for every platform. Note, that we have appointed the ratings based on our own research. One represents the lowest rating while five represent the highest score. Within business model category.