How To Get A Youhodler Crypto Loan Card 2021 – Crypto Loans

Yes so… How To Get A Youhodler Crypto Loan Card…Many of you have actually requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of specific platforms, the return rates, the trustworthiness and track record, use of their apps and we will likewise discuss a few of the risks that you should consider when transferring your crypto on one of these platforms. We will also round up the contrast with our independent score of the just-mentioned classifications for every single platform. So keep watching until completion to learn how we scored private platforms. If you are new to this channel and your objective is to become a more educated P2P investor,

 

Let’s very first provide you a quick introduction to every platform prior to 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. The platform provides its services worldwide, nevertheless, they are currently not providing 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 offered worldwide with exception of approved countries. Nexo is another European platform that uses crypto lovers the choice to earn interest not just on their coins however also fiat deposits. Nexo is in truth, one of only 2, to us known, crypto loaning platforms that offer interest on fiat deposits.

 

And the platform is likewise preparing to release a BlockFi credit card which will generate 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 analysis from Nexo’s organization model as the platform doesn’t have A devoted area about

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this on their website. Now let’s talk about the returns. If you are seeing this video, you want to make money by transferring your coins on one of the platforms right? Prior to we compare the rates, there are a few things that you should think about though. Every platform has certain limits and terms when it comes to providing interest on your coins. For example, Celsius Network alters the rates every week to show the current market circumstance. You are only able to earn greater rates if you decide to receive the interest in Celsius’s own utility token. The greater reward rates are likewise not readily available for US people. If you would not wish to pay your benefits in the CEL token, you can presently 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 assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum varieties between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is presently 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 higher rewards for those who want to get the interest in the native NEXO tokens instead 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. How To Get A Youhodler Crypto Loan Card

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paid out more than $367 M worth of rewards. While we have not 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 financial 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 successful yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development area instead of the fintech area. BlockFi is likewise funded by numerous institutional financiers and the platform is generally targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are readily available Only for U.S citizens as BlockFi has the required financing licenses only in the U.S. , if you desire to examine BlockFi’s statistics you won’t be pleased as there are none available.. Some external sources suggest that there are more than 125,000 registered users, however, 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 area in Russia. According to our research, it appears like he has transferred to Switzerland to launch his crypto loaning platform YouHodler in 2017. I know that YouHodler has been applauded by some of you in the comments on previous videos, sadly, the platform isn’t publicly revealing any financial reports, nor statistics about their user base or assets under YouHodler’s management. When using YouHodler, this is something you need to definitely think about. Moving on to Nexo. Nexo declares to manage $12 B worth of possessions from more than 1.5 M of users. It would indicate that Nexo is two times as huge in terms of user base as Celsius with a much lower average if this is appropriate

 

deposit amount 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. Also, at the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later, the platform claims to manage $12B from 1.5 M users, which we think is a little bit of a steep growth even if we think about 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 fashion Retail industry. On his LinkedIn profile, he explains Nexo as the leading regulated financial institution for digital possessions. I would be truly interested by whom Nexo is regulated, as the business doesn’t have a lending license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance loan business that obviously is financing Nexo. According to our current research, the executive board doesn’t even consist of Antoli, however just Kosta and two 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 clients money”. When reviewing some of Nexo’s remarks from the CEO

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Nexo is the only platform that offers interest on fiat. Now that we have examined some of the track records of the 4 mentioned platforms, let’s briefly go over the use of every crypto loaning site. While the crypto loans on BlockFi are just offered to U.S. citizens, the platform is likewise 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 versatile loan terms and an optimum LTV of 90%. Now you have a truly solid idea of what every crypto financing platform is using. What you need to think about though, is that as soon as you transfer your crypto on any platform, you are not owning your private keys anymore and your assets might get jeopardized either by 3rd parties or by the platform itself. How To Get A Youhodler Crypto Loan Card

 

The only method to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this technique is that you will only benefit from the increased worth of your coin but not the interest on your deposits, which is something you can do on one of the crypto financing platforms. Based on our extensive comparison, let’s have a look at our independent scores of every classification for every platform.