Yes so… Where Do I Find My Youhodler Bitcoin Address…A lot of you have requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing business design of specific platforms, the return rates, the reliability and performance history, use of their apps and we will likewise discuss a few of the dangers that you must think about when transferring your crypto on one of these platforms. We will likewise round up the comparison with our independent ranking of the just-mentioned categories for every single platform. So keep watching till the end to learn 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 struck the like button to see more material like this in the future. Let’s very first offer you a brief intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform worldwide, 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 cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of possessions. The platform uses its services worldwide, however, they are presently not issuing loans in the United States due to regional regulations. BlockFi is the largest
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competitor to Celsius Network. The US-based company has trading and financing licenses in numerous US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is definitely worth thinking about.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of approved countries. YouHodler is most likely the most genuine crypto loaning platform in Europe. The business is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler uses extremely competitive rates on your crypto properties as well as a number of other functions which you won’t find on any other platforms. The platform is readily available in lots of countries with the exception of Germany and the U.S.A.. So if you reside in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the choice to earn interest not just on their coins but also fiat deposits. Nexo remains in fact, among only 2, to us understood, crypto loaning platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. So now that you have a short introduction of every platform
let’s talk about how they make money in the first place. Celsius makes money from the interest they charge to the debtors which are either retail debtors or organizations, they also make cash from their CEL token which is an energy token that you can use to increase your benefits on Celsius Network. Another income stream is the rehypothecation which indicates that Celsius utilizes the collateral from the customers and deploys it in order to produce additional income. BlockFi is likewise making money through the interest that is being charged to customers. In addition to that, the platform also charges a 2% origination charge for anybody who wishes to take a loan. Another earnings stream is BlockFi’s exchange function. When exchanging currencies, the platform makes money from the spread. BlockFi also charges withdrawal fees after your one complimentary withdrawal per month. And the platform is also preparing to introduce a BlockFi credit card which will produce another earnings stream. YouHodler is likewise earning money from the interest charged to borrowers. There is a little withdrawal charge and charges for additional services such as the Multi HODL tool, which is a feature that lets you leverage 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 debtors. Nexo likewise makes revenues with their Nexo token. That’s at least our analysis from Nexo’s business design as the platform does not have A dedicated 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 money by transferring your coins on one of the platforms? Prior to we compare the rates, there are a couple of things that you should think about. When it comes to using interest on your coins, every platform has specific limits and terms. So for example, Celsius Network alters the rates weekly to show the existing market circumstance. You are only able to make higher rates if you choose to receive the interest in Celsius’s own utility token. The higher benefit rates are likewise not readily available for US citizens. If you would not want to pay your benefits in the CEL token, you can currently 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 properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The interest rate for Ethereum varieties 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 presently at
9% per year. What’s worth pointing out is that if you wish to save some costs, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not require to pay the hefty gas cost, as the currency operates on the Binance Smart Chain with method lower fees in comparison to stablecoins that work on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler offers presently 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 provides higher rewards for those who want 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 must bear in mind is that platforms tend to adjust the rates from time to time, so you can’t actually anticipate the real return from your deposits. Keep in mind that by transferring your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise think about. So now, that you understand the returns let’s briefly review the trustworthiness of the platforms and their track record. Celsius Network is likely the most legitimate platform in this area. The creator Alex Mashinsky is a widely known business owner. Prior to launching the Celsius network, he has co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the progress and evaluate some of the stats. As we are tape-recording 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 Where Do I Find My Youhodler Bitcoin Address
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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 monetary report for 2020, where you will discover out that the platform is not profitable. BlockFi is also financed by many institutional financiers and the platform is mainly targeting the US market. According to our research study, it seems like he has transferred to Switzerland to introduce his crypto financing platform YouHodler in 2017.
deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have pointed out together with other warnings in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the buzz 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 fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled financial institution for digital possessions. I would be actually interested by whom Nexo is controlled, as the business does not have a financing license in Estonia, where they are a legal entity Nexo Services OU is based. During our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however 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 company that apparently is funding Nexo. According to our current research, the executive board does not even consist of Antoli, but only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “misuse of clients money”. When examining some of Nexo’s remarks from the CEO
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in the media, he is typically only promoting crypto and anticipating rates however does not have any deeper insights into the crypto loaning space or how Nexo is operating. However that’s just our impression from his Bloomberg talks. Nexo is the only platform that uses interest on fiat. According to our understanding, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not lawyers, we struggle to understand the legal setup under which Nexo is using its services. Now that we have examined some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto lending site. 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. In the dashboard, you are able to see how numerous assets you are holding and what are the presently provided rates. You can transfer and withdraw supported coins however there is no exchange, so if you do not transfer your cryptos from another wallet, you can buy them straight through the app. Keep in mind, however, that there might be fees for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less industrialized impression. The app is extremely basic and so is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform likewise provides a dedicated exchange so you can even trade them. We don’t suggest this function that much as the currency exchange rate are not the very best. While the crypto loans on BlockFi are only offered to U.S. citizens, 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 sophisticated services amongst the crypto financing platforms. Presently, the platform supports 18 digital
YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly solid idea of what every crypto financing platform is using. What you need to consider though, is that as soon as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your assets may get compromised either by 3rd celebrations or by the platform itself. Where Do I Find My Youhodler Bitcoin Address
The only way to protect your crypto is to save it on a devoted hardware wallet like this one from Trezor. 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 one of the crypto loaning platforms. Based on our extensive comparison, let’s have an appearance at our independent ratings of every classification for every platform.