Yes so… Youhodler √® Sicuro…A lot of you have asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing business model of individual platforms, the return rates, the credibility and performance history, functionality of their apps and we will also talk about some of the threats that you must consider when depositing your crypto on one of these platforms. We will also assemble the contrast with our independent ranking of the just-mentioned classifications for every platform. So keep watching up until completion to find out how we scored private platforms. if you are new to this channel and your goal is to become a more educated P2P investor
Let’s first offer you a brief intro to every platform before 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. The platform uses its services worldwide, however, they are currently not releasing loans in the United States due to local policies.
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The platform offers crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved countries. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not only on their coins however also fiat deposits. Nexo is in truth, one of only 2, to us known, crypto lending platforms that offer interest on fiat deposits.
And the platform is likewise preparing to release a BlockFi credit card which will produce another income 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 analysis from Nexo’s business model as the platform doesn’t have A dedicated area about
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If you are watching this video, you want to make cash by depositing your coins on one of the platforms? Every platform has particular limits and terms when it comes to offering interest on your coins. You are only able to make greater rates if you decide to get the interest in Celsius’s own utility token.
9% each year. What deserves pointing out is that if you wish to conserve some fees, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not require to pay the hefty gas charge, as the currency operates on the Binance Smart Chain with way lower costs in comparison to stablecoins that work on the ethereum network. The Binance USD coin is presently just supported on Celsius Network and BlockFi. YouHodler provides presently the most competitive rates for your USDC coins without the requirement to stake the platform’s own energy tokens. You can make 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers greater rewards for those who wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform provides 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 change the rates from time to time, so you can’t actually anticipate the genuine return from your deposits. Keep in mind that by transferring your crypto, the value of the currency may reduce Which will make it hard for you to liquidate your properties if that’s something you would otherwise think about. So now, that you know the returns let’s briefly review the trustworthiness of the platforms and their track record. Celsius Network is likely the most genuine platform in this space. The creator Alex Mashinsky is a widely known entrepreneur. Prior to introducing the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are also able to monitor the progress and evaluate a few of the data. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of possessions. Alone in the last 12 months, Celsius has Youhodler √® Sicuro
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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 monetary report for 2020, where you will discover out that the platform is not rewarding. BlockFi is likewise funded by numerous institutional financiers and the platform is primarily targeting the United States market. According to our research study, it appears like he has relocated to Switzerland to release his crypto loaning platform YouHodler in 2017.
At the start of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform claims 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 area. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday loan company that apparently is financing Nexo. According to our current research, the executive board doesn’t even consist of Antoli, but just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “misuse of clients money”.
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Nexo is the only platform that provides interest on fiat. Now that we have evaluated some of the track records of the four mentioned platforms, let’s briefly go over the use of every crypto financing site. 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 completing with the credit card from Crypto.com YouHodler uses some of the most innovative services among the crypto lending platforms.
currencies on which you are able to earn interest. YouHodler allows you to exchange between different currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are really low, so you do not need to transfer hundreds of Euros or Dollars to test the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can only make interest on your crypto possessions. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise provides you the choice to borrow fiat money in exchange for collateral. The platform presently supports just loans in us euros or dollars. YouHodler is likewise one of the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also provides two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the performance of those features goes beyond this video, you can discover how it works in our dedicated youhodler review on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is also utilizing its utility tokens to offer better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals each month. Also if you choose to stake your coins or fiat, implying you lock your possessions for a specified term, you can get a greater rates of interest. Like BlockFi, Nexo also offers you to purchase, or exchange crypto if you wish to hold your possessions in numerous currencies. Now you have a really strong concept of what every crypto loaning platform is providing. What you ought to consider however, is that as soon as you deposit your crypto on any platform, you are not owning your private secrets anymore and your properties might get jeopardized either by third parties or by the platform itself. It resembles transferring your crypto on the exchange – if you do not own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are really clear about the fact that you Youhodler √® Sicuro
quit your ownership of the properties as long as you hold them in the platform’s wallet. The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The drawback of this technique is that you will only gain 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 lending platforms. As with any investment, it constantly comes down to the threat and return and your risk profile. Based on our thorough contrast, let’s have a look at our independent rankings of every classification for every platform. Note, that we have designated the scores based upon our own research study. One represents the most affordable rating while five stands for the highest score. Within business design category.