“Crypto-to-crypto” Loans Use Cases 2021 – Crypto Loans

Yes so… “Crypto-to-crypto” Loans Use Cases…Many of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the business model of specific platforms, the return rates, the credibility and performance history, functionality of their apps and we will likewise speak about a few of the threats that you ought to think about when depositing your crypto on one of these platforms. We will also round up the comparison with our independent rating of the just-mentioned classifications for every platform. So keep watching till completion to find out how we scored specific platforms. If you are brand-new to this channel and your goal is to end up being a more educated P2P financier,

 

think about subscribing and struck the like button to see more material like this in the future. Let’s first offer you a quick introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of assets. The platform provides its services worldwide, however, they are presently not releasing loans in the United States due to regional policies. BlockFi is the biggest

youhodler crypto interest loans, platform for users

The platform uses crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of sanctioned countries. Nexo is another European platform that uses crypto enthusiasts the alternative to earn interest not just on their coins but also fiat deposits. Nexo is in reality, one of just two, to us known, crypto lending platforms that provide interest on fiat deposits.

 

And the platform is likewise preparing 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 business model as the platform doesn’t have A devoted section about

money fees on celsius services priced about stablecoins  profit margin “Crypto-to-crypto” Loans Use Cases

this on their website. Now let’s speak about the returns. If you are enjoying this video, you want to make cash by depositing your coins on one of the platforms? Before we compare the rates, there are a couple of things that you need to think about though. When it comes to providing interest on your coins, every platform has certain limitations and terms. So for instance, Celsius Network changes the rates weekly to reflect the present market scenario. Also, you are just able to make higher rates if you decide to receive the interest in Celsius’s own utility token. The higher benefit rates are likewise not readily available for US residents. If you would not wish to pay out your benefits in the CEL token, you can currently anticipate to get 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 on the number of your properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum ranges between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is currently at

 

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 provides greater benefits for those who desire to receive the interest in the native NEXO tokens instead of the deposited currency. What you need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really forecast the genuine return from your deposits. “Crypto-to-crypto” Loans Use Cases

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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 resolving the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it comes to sharing its financial reports, however with a little bit of digging, you can get your hands on the monetary report for 2020, where you will discover out that the platform is not rewarding. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement area rather than the fintech area. BlockFi is likewise funded by numerous institutional investors and the platform is mainly targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are available Just for U.S people as BlockFi has the necessary financing licenses just in the U.S. If you want to check BlockFi’s data you will not be happy as there are none available. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were not able to confirm 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 seems like he has actually relocated to Switzerland to introduce his crypto lending platform YouHodler in 2017. I understand that YouHodler has been applauded by some of you in the comments on previous videos, unfortunately, the platform isn’t openly exposing any financial reports, nor stats about their user base or possessions under YouHodler’s management. When utilizing YouHodler, this is something you should definitely think about. Proceeding to Nexo. Nexo declares to manage $12 B worth of assets from more than 1.5 M of users. If this is right, it would suggest that Nexo is two times as big in terms of user base as Celsius with a much lower average

 

At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the buzz in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our recent 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 lending platform, which is known for the “misuse of customers cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have reviewed some of the track records of the 4 mentioned 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. residents, the platform is likewise working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler provides some of the most advanced services among the crypto lending platforms.

 

currencies on which you are able to make interest. YouHodler enables you to exchange between different currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit amounts are really low, so you do not need to move hundreds of Euros or Dollars to evaluate the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can only make interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler also offers you the alternative to obtain fiat money in exchange for collateral. The platform currently supports only loans in us dollars or euros. YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also offers two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic financiers. As the functionality of those features surpasses this video, you can discover how it works in our dedicated youhodler evaluation on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is likewise utilizing its utility tokens to use much better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals each month. Also if you decide to stake your coins or fiat, suggesting you lock your properties for a defined term, you can get a greater rates of interest. Like BlockFi, Nexo likewise uses you to purchase, or exchange crypto if you want to hold your properties in various currencies. Now you have an actually strong idea of what every crypto lending 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 secrets any longer and your properties may get compromised either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you do not own the keys, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are extremely clear about the fact that you “Crypto-to-crypto” Loans Use Cases

 

give up your ownership of the possessions as long as you hold them in the platform’s wallet. The only way to protect your crypto is to keep it on a devoted hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The drawback of this method is that you will only gain from the increased worth of your coin but not the interest on your deposits, which is something you can do on among the crypto financing platforms. As with any investment, it constantly comes down to the risk and return and your danger profile. So based on our thorough contrast, let’s take a look at our independent ratings of every classification for every single platform. Keep in mind, that we have appointed the rankings based on our own research. One represents the lowest ranking while five mean the greatest rating. Within business model classification.

Crypto-to-crypto Loans Use Cases 2021 – Crypto Loans

Yes so… Crypto-to-crypto Loans Use Cases…A number of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business design 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 need to consider when depositing your crypto on one of these platforms. We will likewise assemble the contrast with our independent score of the just-mentioned categories for every single platform. Keep enjoying up until the end to discover out how we scored individual platforms. If you are new to this channel and your objective is to end up being a more informed P2P financier,

 

Let’s first offer you a brief intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was established in 2017 by Alex Mashinsky. The platform offers its services worldwide, however, they are currently not providing loans in the United States due to regional regulations.

youhodler crypto interest loans, platform for users

The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned nations. Nexo is another European platform that uses crypto lovers the option to make interest not only on their coins but likewise fiat deposits. Nexo is in fact, one of only 2, to us understood, crypto lending platforms that offer interest on fiat deposits.

 

let’s discuss how they generate income in the first place. Celsius makes money from the interest they charge to the borrowers which are either retail customers or institutions, they also make cash from their CEL token which is an energy token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which implies that Celsius utilizes the security from the customers and releases it in order to create extra income. BlockFi is also making money through the interest that is being credited customers. The platform also charges a 2% origination charge for anyone who desires to take a loan. Another earnings stream is BlockFi’s exchange function. The platform generates income from the spread when exchanging currencies. BlockFi likewise charges withdrawal costs after your one complimentary withdrawal monthly. And the platform is also preparing to launch a BlockFi credit card which will produce another earnings stream. YouHodler is also making money from the interest charged to debtors. In addition to that, there is a small withdrawal cost and charges for extra services such as the Multi HODL tool, which is a function that lets you take advantage of your crypto assets in exchange for potential returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. Nexo likewise makes profits with their Nexo token. That’s at least our interpretation from Nexo’s company model as the platform does not have A devoted section about

money fees on celsius services priced about stablecoins  profit margin Crypto-to-crypto Loans Use Cases

this on their website. Now let’s discuss the returns. If you are seeing this video, you desire to make cash by transferring your coins on one of the platforms? Prior to we compare the rates, there are a couple of things that you ought to consider. When it comes to using interest on your coins, every platform has particular limitations and terms. So for instance, Celsius Network alters the rates each week to reflect the present market scenario. You are just able to earn higher rates if you choose to receive the interest in Celsius’s own utility token. The greater benefit rates are also not readily available for United States citizens. If you would not wish to pay out your rewards in the CEL token, you can currently expect 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 possessions. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum ranges 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% each year. What deserves pointing out is that if you wish to save some charges, 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 hefty gas cost, as the currency operates on the Binance Smart Chain with method lower charges in comparison to stablecoins that operate on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler provides presently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. You can make 12% interest on your USDC holdings and the platform offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses higher rewards for those who wish 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 ought to remember is that platforms tend to change the rates from time to time, so you can’t actually anticipate the genuine return from your deposits. Also, keep in mind that by depositing your crypto, the value of the currency may 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 conscious of the returns let’s briefly evaluation the credibility of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this space. The creator Alex Mashinsky is a well-known business owner. Prior to introducing the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep track of the progress and review a few of the data. As we are 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 Crypto-to-crypto Loans Use Cases

bitcoin amount of lending service with value feature trading

paid out more than $367 M worth of rewards. While we have not 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 rare in this space. The platform is not transparent when it comes to sharing its monetary reports, but with a little bit of digging, you can get your hands on the financial report for 2020, where you will find out that the platform is not lucrative. 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 space. BlockFi is also financed by many institutional financiers and the platform is mainly targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are available Just for U.S residents as BlockFi has the necessary loaning licenses just in the U.S. If you wish to check BlockFi’s data you won’t more than happy as there are none available. Some external sources recommend that there are more than 125,000 registered users, nevertheless, we were unable to confirm any of those claims straight 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 introduce his crypto loaning platform YouHodler in 2017. I understand that YouHodler has been applauded by some of you in the discuss previous videos, regrettably, the platform isn’t publicly exposing any financial reports, nor stats about their user base or possessions under YouHodler’s management. When using YouHodler, this is something you must definitely think about. Carrying on to Nexo. Nexo claims to handle $12 B worth of properties from more than 1.5 M of users. It would mean that Nexo is two times as huge in terms of user base as Celsius with a much lower average if this is proper

 

deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have actually explained together with other warnings in our previous video. Likewise, at the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform claims to manage $12B from 1.5 M users, which we believe is a little a steep development even if we consider the buzz in the crypto area. 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 politician with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital assets. I would be actually interested by whom Nexo is regulated, as the business doesn’t have a lending license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the website. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance business that apparently is financing Nexo. According to our recent research study, the executive board does not 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 lending platform, which is understood for the “abuse of customers cash”. When reviewing some of Nexo’s remarks from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

Nexo is the only platform that provides interest on fiat. Now that we have actually examined some of the track records of the 4 mentioned platforms, let’s briefly go over the usability of every crypto financing site. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is also working on a Bitcoin benefits credit card which will be completing with the credit card from Crypto.com YouHodler offers some of the most sophisticated services amongst the crypto lending platforms.

 

YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly solid idea of what every crypto lending platform is providing. What you need to consider however, is that as quickly as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your properties might get compromised either by third parties or by the platform itself. Crypto-to-crypto Loans Use Cases

 

The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy 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 financing platforms. Based on our in-depth comparison, let’s have an appearance at our independent scores of every category for every platform.