Yes so… Tempi Invio Bonifico Youhodler…Numerous of you have actually requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the organization design of specific platforms, the return rates, the credibility and track record, functionality of their apps and we will also talk about some of the risks that you should think about when depositing your crypto on one of these platforms.
think about subscribing and hit the like button to see more material like this in the future. Let’s very first offer you a quick intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform on the planet, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of possessions. The platform provides its services worldwide, nevertheless, they are presently not releasing loans in the United States due to regional regulations. BlockFi is the biggest
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The platform provides crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of approved countries. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not just on their coins but likewise fiat deposits. Nexo is in truth, one of just 2, to us understood, crypto financing platforms that offer interest on fiat deposits.
And the platform is likewise preparing to launch a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. That’s at least our interpretation from Nexo’s organization design as the platform doesn’t have A dedicated area about
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If you are enjoying this video, you want 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 just able to earn higher rates if you choose to receive the interest in Celsius’s own energy token.
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 greater benefits for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. What you should keep 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. Tempi Invio Bonifico Youhodler
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At the start 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 believe is a bit of a high growth even if we think about the buzz in the crypto space. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our recent research, the executive board doesn’t 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 customers cash”.
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in the media, he is typically only promoting crypto and predicting rates but does not have any deeper insights into the crypto financing space or how Nexo is operating. That’s just our impression from his Bloomberg talks. Likewise, Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Despite the fact that we are not lawyers, we struggle to comprehend the legal setup under which Nexo is using its services. So now that we have examined some of the performance history of the 4 mentioned platforms, let’s briefly go over the functionality of every crypto loaning site. Celsius has started as a native mobile app. The app is well developed and it comes with various security functions such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you have the ability to see how many properties you are holding and what are the presently used rates. You can withdraw and transfer supported coins however there is no exchange, so if you do not deposit your cryptos from another wallet, you can acquire them directly through the app. Keep in mind, nevertheless, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital possessions. BlockiFi makes a less industrialized impression. The app is really basic therefore is the desktop variation of the platform. BlockFi supports currently just 10 digital currencies. The platform also provides a devoted exchange so you can even trade them. We don’t advise this function that much as the exchange rates are not the best. While the crypto loans on BlockFi are just offered to U.S. residents, the platform is also working on a Bitcoin rewards charge card which will be competing with the credit card from Crypto.com YouHodler offers a few of the most advanced services among the crypto lending platforms. Currently, the platform supports 18 digital
currencies on which you have the ability to make interest. YouHodler enables you to exchange in 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 numerous Dollars or euros to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can just make interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also offers you the alternative to obtain fiat money in exchange for security. The platform currently supports only loans in us dollars or euros. YouHodler is likewise among the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also offers 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the performance of those functions surpasses this video, you can learn how it works in our dedicated youhodler review on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is also utilizing its energy tokens to offer much better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals each month. Likewise if you decide to stake your coins or fiat, indicating you lock your assets for a specified term, you can get a higher rate of interest. Like BlockFi, Nexo also offers you to purchase, or exchange crypto if you want to hold your assets in numerous currencies. Now you have a truly strong idea of what every crypto lending platform is using. What you must consider however, is that as soon as you transfer your crypto on any platform, you are not owning your private keys any longer and your assets may get jeopardized either by 3rd parties or by the platform itself. It’s like depositing your crypto on the exchange – if you don’t own the keys, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the reality that you Tempi Invio Bonifico Youhodler
quit your ownership of the possessions as long as you hold them in the platform’s wallet. The only method to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. That’s the best method to keep your cryptos safe. The downside of this technique is that you will just gain 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. As with any financial investment, it constantly comes down to the threat and return and your risk profile. Based on our in-depth comparison, let’s have a look at our independent rankings of every classification for every platform. Note, that we have appointed the scores based on our own research study. One represents the lowest ranking while five represent the highest rating. Within business model category.