Crypto Youhodler 30M Series Ventures 2021 – Crypto Loans

Yes so… Crypto Youhodler 30M Series Ventures…Many of you have actually asked for a comparison 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 company model of specific platforms, the return rates, the reliability and track record, functionality of their apps and we will likewise talk about some of the dangers that you should consider when depositing your crypto on one of these platforms.

 

Let’s first give you a short introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto loaning platform in the world, which was established in 2017 by Alex Mashinsky. The platform uses its services worldwide, nevertheless, they are presently not issuing loans in the United States due to local regulations.

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The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of approved nations. Nexo is another European platform that provides crypto lovers the alternative to earn interest not only on their coins however likewise 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 likewise planning to introduce a BlockFi credit card which will produce another income stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. That’s at least our interpretation from Nexo’s organization model as the platform does not have A devoted area about

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this on their website. Now let’s discuss the returns. If you are seeing this video, you want 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 need to think about however. When it comes to using interest on your coins, every platform has specific limits and terms. So for instance, Celsius Network changes the rates each week to reflect the present market circumstance. Also, you are only able to make greater rates if you decide to get the interest in Celsius’s own energy token. The higher reward rates are likewise not offered for United States residents. If you would not wish to pay out your rewards in the CEL token, you can presently 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 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 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

 

9% per year. What deserves mentioning is that if you want to save some costs, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not need to pay the substantial gas cost, as the currency operates on the Binance Smart Chain with way lower costs in comparison to stablecoins that operate on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler uses currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility tokens. You can make 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 higher benefits for those who wish to receive 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 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. Likewise, bear in mind that by transferring your crypto, the worth of the currency might decrease Which will make it hard for you to liquidate your possessions if that’s something you would otherwise think about. Now, that you are aware 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 area. The founder Alex Mashinsky is a widely known entrepreneur. Prior to launching the Celsius network, he has actually co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the progress and evaluate some 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 Crypto Youhodler 30M Series Ventures

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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 financial report for 2020, where you will find out that the platform is not profitable. BlockFi is also funded by numerous institutional financiers and the platform is mainly targeting the US market. According to our research study, it appears like he has moved to Switzerland to introduce his crypto lending platform YouHodler in 2017.

 

At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform claims to handle $12B from 1.5 M users, which we think is a bit of a steep development even if we think about the hype in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our current research study, the executive board does not even include Antoli, however only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “misuse of clients cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have examined some of the track records of the four mentioned platforms, let’s briefly go over the functionality of every crypto financing site. While the crypto loans on BlockFi are just available to U.S. people, the platform is also working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler offers some of the most advanced services amongst the crypto loaning platforms.

 

YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a really solid concept of what every crypto financing platform is offering. What you ought to think about however, is that as soon as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your possessions might get jeopardized either by third celebrations or by the platform itself. Crypto Youhodler 30M Series Ventures

 

The only way to secure your crypto is to save it on a devoted 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 but 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 an appearance at our independent ratings of every category for every platform.