Bitcoin Youhodler 2021 – Crypto Loans

Yes so… Bitcoin Youhodler…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 requested, in this video, we will be comparing the company model of private platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will likewise talk about some of the dangers that you ought to think about when transferring your crypto on one of these platforms.

 

think about subscribing and hit the like button to see more material like this in the future. So let’s first offer you a quick intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform on the planet, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users utilizing Celsius Network to earn or take a crypto loan interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of properties. The platform provides its services worldwide, nevertheless, they are currently not providing loans in the United States due to local guidelines. BlockFi is the biggest

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The platform offers crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of approved countries. Nexo is another European platform that offers crypto lovers the alternative to earn interest not just on their coins however likewise fiat deposits. Nexo is in reality, one of just two, to us known, crypto financing platforms that use interest on fiat deposits.

 

And the platform is also planning to introduce a BlockFi credit card which will create another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. That’s at least our interpretation from Nexo’s service model as the platform does not have A devoted area about

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If you are enjoying this video, you desire 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 make greater rates if you decide to receive the interest in Celsius’s own utility 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 require to pay the substantial gas cost, as the currency works on the Binance Smart Chain with way lower fees in contrast to stablecoins that run on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler offers 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 provides 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers greater benefits for those who want 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 bear in mind is that platforms tend to change the rates from time to time, so you can’t really forecast the real return from your deposits. 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 properties if that’s something you would otherwise think about. Now, that you are aware of the returns let’s briefly review the reliability of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The creator Alex Mashinsky is a popular entrepreneur. Prior to introducing the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the progress and examine a few of the stats. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of properties. Alone in the last 12 months, Celsius has Bitcoin Youhodler

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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 unusual in this area. The platform is not transparent when it comes to sharing its monetary reports, but with a bit of digging, you can get your hands on the monetary report for 2020, where you will find out that the platform is not rewarding yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development area rather than the fintech area. BlockFi is likewise funded by lots of institutional investors and the platform is mainly targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are available Only for U.S people as BlockFi has the necessary lending licenses just in the U.S. , if you want to inspect BlockFi’s statistics you won’t be pleased as there are none readily available.. Some external sources suggest that there are more than 125,000 signed up users, however, we were not able to verify any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research study, it appears like he has actually moved to Switzerland to launch his crypto loaning platform YouHodler in 2017. I understand that YouHodler has actually been applauded by a few of you in the talk about previous videos, sadly, the platform isn’t openly revealing any monetary reports, nor stats about their user base or assets under YouHodler’s management. This is something you need to definitely consider when using YouHodler. Proceeding to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. It would mean that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is appropriate

 

deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting standards as we have actually mentioned together with other red flags 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 claims to handle $12B from 1.5 M users, which we believe is a little a high growth even if we consider the buzz in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he describes Nexo as the leading controlled financial institution for digital properties. I would be really interested by whom Nexo is managed, as the company 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 however their legal address is no place to be found on the site. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance company that obviously is financing Nexo. According to our current research study, the executive board does not even consist of Antoli, but only Kosta and 2 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 “misuse of customers money”. Also when evaluating 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 actually evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the use of every crypto lending website. While the crypto loans on BlockFi are only available to U.S. citizens, the platform is likewise working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler offers some of the most innovative services amongst the crypto loaning platforms.

 

YouHodler is likewise 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 providing. What you must consider though, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your possessions may get jeopardized either by third celebrations or by the platform itself. Bitcoin Youhodler

 

The only method to secure 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 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 lending platforms. Based on our extensive contrast, let’s have an appearance at our independent ratings of every classification for every platform.