Flori Marquez Youhodler 2021 – Crypto Loans

Yes so… Flori Marquez Youhodler…Many of you have actually asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of private platforms, the return rates, the reliability and performance history, functionality of their apps and we will likewise discuss some of the threats that you ought to think about when depositing your crypto on among these platforms. We will likewise round up the contrast with our independent ranking of the just-mentioned categories for every platform. So keep watching until the end to discover how we scored private platforms. if you are brand-new to this channel and your objective is to become a more informed P2P financier

 

Let’s first give you a brief 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 established in 2017 by Alex Mashinsky. The platform provides its services worldwide, however, they are presently not issuing loans in the United States due to regional guidelines.

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The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of approved countries. Nexo is another European platform that provides crypto lovers the alternative to make interest not just on their coins but likewise fiat deposits. Nexo is in reality, one of only two, to us understood, crypto loaning platforms that offer interest on fiat deposits.

 

let’s speak about how they earn money in the first place. So Celsius earns money from the interest they charge to the borrowers which are either retail customers or institutions, they likewise make money from their CEL token which is an energy token that you can use to increase your rewards on Celsius Network. Another income stream is the rehypothecation which suggests that Celsius utilizes the collateral from the debtors and deploys it in order to produce extra earnings. BlockFi is likewise generating income through the interest that is being credited debtors. The platform likewise charges a 2% origination fee for anyone who wants to take a loan. Another earnings stream is BlockFi’s exchange feature. The platform makes money from the spread when exchanging currencies. BlockFi also charges withdrawal charges after your one totally free withdrawal per month. And the platform is also planning to introduce a BlockFi charge card which will generate another income stream. YouHodler is likewise making money from the interest charged to borrowers. In addition to that, there is a small withdrawal charge and charges for additional services such as the Multi HODL tool, which is a function that lets you utilize 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 borrowers. Nexo also makes revenues with their Nexo token. That’s at least our analysis from Nexo’s organization design as the platform does not have A devoted area about

money fees on celsius services priced about stablecoins  profit margin Flori Marquez Youhodler

this on their website. Now let’s talk about the returns. If you are seeing this video, you wish to earn money by transferring your coins on one of the platforms right? Prior to we compare the rates, there are a few things that you need to think about. Every platform has particular limitations and terms when it concerns using interest on your coins. So for instance, Celsius Network alters the rates weekly to reflect the current market scenario. You are just able to earn higher rates if you choose to get the interest in Celsius’s own utility token. The greater reward rates are likewise not available for United States citizens. If you would not wish to pay your benefits 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 variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will get. The rate of interest for Ethereum ranges 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% per year. What deserves pointing out is that if you want to conserve 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 large gas fee, as the currency operates on the Binance Smart Chain with method lower charges in contrast to stablecoins that operate on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler provides currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility 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 higher benefits for those who wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you must bear in mind is that platforms tend to adjust the rates from time to time, so you can’t actually forecast the real return from your deposits. Keep in mind that by transferring your crypto, the value of the currency might reduce Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. 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 genuine platform in this space. The creator Alex Mashinsky is a well-known business owner. Prior to releasing the Celsius network, he has co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the development and examine a few of the stats. As we are taping 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 Flori Marquez Youhodler

bitcoin amount of lending service with value feature trading

paid out 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 space. The platform is not transparent when it pertains to sharing its monetary reports, however 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 the business advancement space rather than the fintech area. BlockFi is also financed by numerous institutional investors and the platform is generally targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Just for U.S residents as BlockFi has the required lending licenses only in the U.S. , if you want to check BlockFi’s stats you won’t be happy as there are none available.. Some external sources recommend that there are more than 125,000 signed up users, however, we were unable to verify any of those claims straight 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 relocated to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has been praised by a few 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 properties under YouHodler’s management. This is something you must certainly think about when utilizing YouHodler. Carrying on to Nexo. Nexo declares to manage $12 B worth of assets from more than 1.5 M of users. It would imply that Nexo is two times as huge in terms of user base as Celsius with a much lower average if this is correct

 

deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have explained together with other warnings in our previous video. At the beginning of January, Nexo had only $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 think is a bit of a high development even if we consider the hype in the crypto area. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian political leader with experience in the style Retail industry. On his LinkedIn profile, he describes Nexo as the leading managed financial institution for digital assets. I would be truly interested by whom Nexo is managed, as the business does not have a financing license in Estonia, where they are a legal entity Nexo Provider OU is based. Throughout our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be found on the website. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance company that apparently is financing Nexo. According to our current research, the executive board does not even include Antoli, however just 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 “abuse of customers cash”. Likewise when evaluating some of Nexo’s comments from the CEO

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in the media, he is frequently only promoting crypto and predicting prices however does not have any deeper insights into the crypto loaning area or how Nexo is operating. That’s simply our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our understanding, you can not use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not lawyers, we have a hard time to understand the legal setup under which Nexo is using its services. Now that we have actually examined some of the track records of the four pointed out platforms, let’s briefly go over the use of every crypto lending website. Celsius has actually begun as a native mobile app. The app is well established and it includes different security features such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you are able to see how many assets you are holding and what are the currently offered rates. You can withdraw and move supported coins however there is no exchange, so if you do not transfer your cryptos from another wallet, you can acquire them straight through the app. Note, however, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital possessions. BlockiFi makes a less developed impression. The app is really basic therefore is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform also uses a dedicated exchange so you can even trade them. We don’t recommend this function that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just available to U.S. people, the platform is also working on a Bitcoin benefits credit card which will be taking on the credit card from Crypto.com YouHodler offers a few of the most advanced services amongst the crypto financing platforms. Presently, the platform supports 18 digital

 

YouHodler is likewise one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have a truly strong idea of what every crypto loaning platform is using. What you ought to consider however, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets anymore and your assets may get compromised either by 3rd celebrations or by the platform itself. Flori Marquez Youhodler

 

The only method to protect your crypto is to keep it on a devoted hardware wallet like this one from Trezor. The drawback of this technique is that you will only benefit from the increased worth 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 extensive comparison, let’s have a look at our independent rankings of every category for every platform.