Yes so… Lending My Bitcoin…Much of you have asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the business model of individual platforms, the return rates, the trustworthiness and performance history, functionality of their apps and we will also speak about some of the dangers that you need to consider when depositing your crypto on among these platforms. We will also round up the comparison with our independent ranking of the just-mentioned classifications for every platform. So keep watching till completion to find out how we scored individual platforms. If you are new to this channel and your goal is to end up being a more educated P2P investor,
consider subscribing and hit the like button to see more material like this in the future. So let’s very first offer you a brief intro to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform in the world, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to make or take a crypto loan 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 issuing loans in the United States due to regional policies. BlockFi is the largest
youhodler crypto interest loans, platform for users
competitor to Celsius Network. The US-based company has trading and lending licenses in numerous US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is certainly worth thinking about.. The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of approved countries. YouHodler is likely the most legitimate crypto loaning platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler uses really competitive rates on your crypto properties along with numerous other functions which you will not discover on any other platforms. The platform is readily available in numerous nations with the exception of Germany and the USA. So if you reside in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the alternative to make interest not only on their coins but also fiat deposits. Nexo remains in truth, among only two, to us understood, crypto financing platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief summary of every platform
let’s speak about how they make money in the first place. So Celsius generates income from the interest they credit the debtors which are either retail borrowers or organizations, they also earn money from their CEL token which is an utility token that you can use to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which suggests that Celsius uses the security from the debtors and releases it in order to generate additional earnings. BlockFi is also earning money through the interest that is being charged to debtors. The platform also charges a 2% origination fee for anyone who wants to take a loan. Another income stream is BlockFi’s exchange function. The platform makes money from the spread when exchanging currencies. BlockFi likewise charges withdrawal charges after your one totally free withdrawal monthly. And the platform is also preparing to introduce a BlockFi credit card which will create another earnings stream. YouHodler is likewise generating income from the interest charged to borrowers. There is a small withdrawal fee and costs for additional services such as the Multi HODL tool, which is a function that lets you take advantage of your crypto possessions in exchange for possible returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. Nexo likewise makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s service model as the platform does not have A dedicated section about
money fees on celsius services priced about stablecoins profit margin Lending My Bitcoin
If you are viewing this video, you desire to make money by transferring your coins on one of the platforms? Every platform has specific limits and terms when it comes to offering interest on your coins. You are only able to earn greater rates if you choose to receive the interest in Celsius’s own energy token.
9% annually. What’s worth mentioning is that if you wish to save some fees, 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 hefty gas charge, as the currency works on the Binance Smart Chain with way lower fees in comparison to stablecoins that run on the ethereum network. The Binance USD coin is presently only 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 energy 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 offers higher rewards for those who want 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 must bear in mind is that platforms tend to adjust the rates from time to time, so you can’t truly forecast the genuine return from your deposits. Also, keep in mind that by transferring your crypto, the value of the currency might decrease 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 review the reliability of the platforms and their track record. Celsius Network is most likely the most genuine platform in this area. The creator Alex Mashinsky is a widely 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 examine a few of the stats. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of assets. Alone in the last 12 months, Celsius has Lending My Bitcoin
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 dealing with the most frequently asked questions, which is something rather rare in this space. The platform is not transparent when it concerns sharing its financial reports, but with a bit of digging, you can get your hands on the monetary report for 2020, where you will learn 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 advancement area instead of the fintech space. BlockFi is likewise financed by lots of institutional financiers and the platform is generally targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are readily available Just for U.S people as BlockFi has the necessary loaning licenses just in the U.S. , if you desire to check BlockFi’s data you will not be delighted as there are none readily available.. Some external sources suggest that there are more than 125,000 registered users, nevertheless, we were not able to validate 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 transferred to Switzerland to launch his crypto financing platform YouHodler in 2017. I know that YouHodler has actually been applauded by a few of you in the discuss previous videos, unfortunately, the platform isn’t publicly exposing any monetary reports, nor stats about their user base or assets under YouHodler’s management. This is something you should certainly consider when utilizing YouHodler. Moving on to Nexo. Nexo claims to manage $12 B worth of properties from more than 1.5 M of users. If this is correct, it would mean that Nexo is twice as big in regards to 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 requirements as we have mentioned together with other red flags in our previous video. Also, at the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep growth 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 upon our research study, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he describes Nexo as the leading managed banks for digital assets. I would be truly interested by whom Nexo is controlled, as the business doesn’t have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be discovered on the website. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that obviously is funding Nexo. According to our current research study, the executive board does not even consist of Antoli, but just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is known for the “abuse of customers money”. When evaluating some of Nexo’s remarks from the CEO
turbocharge stablecoins crypto assets coins investment profile
Nexo is the only platform that uses 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 loaning site. While the crypto loans on BlockFi are just readily available to U.S. people, the platform is also working on a Bitcoin rewards credit card which will be completing 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 flexible loan terms and an optimum LTV of 90%. Now you have a truly strong idea of what every crypto financing platform is using. What you need to consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys anymore and your possessions might get compromised either by third parties or by the platform itself. Lending My Bitcoin
quit your ownership of the assets as long as you hold them in the platform’s wallet. The only method to protect your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The disadvantage 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 among the crypto financing platforms. However, just like any financial investment, it always comes down to the threat and return and your risk profile. So based upon our in-depth contrast, let’s have a look at our independent scores of every classification for each platform. Note, that we have actually appointed the rankings based on our own research. One represents the lowest ranking while five stands for the greatest score. Within the business design category.