Crypto Coin Loans 2021 – Crypto Loans

Yes so… Crypto Coin Loans…Much of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business model of specific platforms, the return rates, the reliability and performance history, usability of their apps and we will also speak about some of the risks that you should consider when transferring your crypto on one of these platforms. We will likewise round up the comparison with our independent score of the just-mentioned categories for every platform. So keep watching until completion to find out how we scored specific platforms. If you are new to this channel and your objective is to end up being a more educated P2P investor,

 

think about subscribing and struck the like button to see more content like this in the future. Let’s very first offer you a quick introduction to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform worldwide, 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 stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of assets. The platform offers its services worldwide, nevertheless, they are currently not releasing loans in the United States due to regional policies. BlockFi is the largest

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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 enthusiasts the option to earn interest not only on their coins but also fiat deposits. Nexo is in truth, one of only two, to us understood, crypto loaning platforms that use interest on fiat deposits.

 

And the platform is also planning to launch a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. That’s at least our interpretation from Nexo’s company 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 depositing your coins on one of the platforms? Every platform has specific limits and terms when it comes to using interest on your coins. You are just able to earn higher rates if you choose to get 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 desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you need to keep in mind is that platforms tend to change the rates from time to time, so you can’t actually forecast the real return from your deposits. Crypto Coin Loans

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paid more than $367 M worth of benefits. While we haven’t managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is attending to the most frequently asked questions, which is something rather uncommon in this space. 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 monetary report for 2020, where you will find out that the platform is not profitable. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development space rather than the fintech space. BlockFi is also financed by many institutional investors and the platform is primarily targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are available Just for U.S residents as BlockFi has the required lending licenses just in the U.S. If you want to check BlockFi’s data you won’t be happy as there are none offered. Some external sources recommend that there are more than 125,000 signed up users, nevertheless, we were not able to validate 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, it seems like he has moved to Switzerland to launch his crypto loaning platform YouHodler in 2017. I know that YouHodler has actually been praised by some of you in the comments on previous videos, regrettably, the platform isn’t publicly exposing any monetary reports, nor data about their user base or assets under YouHodler’s management. When utilizing YouHodler, this is something you must definitely consider. Carrying on to Nexo. Nexo claims to handle $12 B worth of properties from more than 1.5 M of users. If this is right, it would mean that Nexo is twice as big in terms of 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 standards as we have pointed out together with other warnings in our previous video. Likewise, at the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a little a steep development even if we think about the hype in the crypto space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian political leader 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 truly interested by whom Nexo is managed, as the business doesn’t have a financing license in Estonia, where they are a legal entity Nexo Services OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan company that apparently is funding Nexo. According to our recent research, the executive board doesn’t even include Antoli, but 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 known for the “misuse of clients money”. Also when reviewing a few 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 functionality of every crypto financing site. While the crypto loans on BlockFi are just readily 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 advanced services among the crypto financing platforms.

 

YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have a really solid idea of what every crypto loaning platform is using. What you should think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your private keys any longer and your assets might get jeopardized either by third celebrations or by the platform itself. Crypto Coin Loans

 

The only method to protect your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The drawback of this method is that you will only 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 thorough comparison, let’s have a look at our independent ratings of every category for every platform.