Yes so… Youhodler 加密資產…Many of you have actually requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn 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 track record, usability of their apps and we will also talk about some of the dangers that you need to consider when transferring your crypto on one of these platforms.
consider subscribing and struck the like button to see more content like this in the future. Let’s very first provide you a brief introduction to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform on the planet, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their cryptocurrencies and stablecoins. In overall, Celsius handles more than $17 B worth of assets. The platform uses its services worldwide, however, they are currently not providing loans in the United States due to regional guidelines. BlockFi is the biggest
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of approved countries. Nexo is another European platform that offers crypto enthusiasts the alternative to make interest not only on their coins but likewise fiat deposits. Nexo is in reality, one of just two, to us understood, crypto lending platforms that use interest on fiat deposits.
And the platform is likewise planning to introduce a BlockFi credit card which will create 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 interpretation from Nexo’s business model as the platform doesn’t have A dedicated section about
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this on their website. Now let’s speak about the returns. If you are viewing this video, you want to make money by transferring your coins on among the platforms right? Before we compare the rates, there are a couple of things that you need to consider. Every platform has particular limits and terms when it pertains to using interest on your coins. So for example, Celsius Network changes the rates weekly to reflect the existing market scenario. Also, you are only able to earn greater rates if you choose to get the interest in Celsius’s own utility token. The higher benefit rates are likewise not offered for US residents. If you would not wish to pay your rewards 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 properties. The more bitcoin or ethereum you deposit, the less interest you will get. The interest rate for Ethereum varieties in 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 currently at
9% annually. What’s worth pointing out is that if you wish to conserve some charges, 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 large gas charge, as the currency operates on the Binance Smart Chain with method lower charges in comparison to stablecoins that work on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler uses presently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility 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 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 need to bear in mind is that platforms tend to adjust the rates from time to time, so you can’t truly anticipate the real return from your deposits. Likewise, remember that by transferring your crypto, the worth of the currency might decrease Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. Now, that you are aware of the returns let’s briefly evaluation the reliability of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this space. The founder Alex Mashinsky is a well-known business owner. Before launching 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 some of the stats. As we are 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 加密資產
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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 financial report for 2020, where you will discover out that the platform is not profitable. BlockFi is likewise funded by numerous institutional financiers and the platform is mainly targeting the US market. According to our research study, it seems like he has actually transferred to Switzerland to release his crypto financing platform YouHodler in 2017.
deposit quantity as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have mentioned together with other warnings in our previous video. At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a high development even if we consider the hype in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian political leader with experience in the fashion Retail market. On his LinkedIn profile, he describes Nexo as the leading controlled banks for digital properties. I would be actually interested by whom Nexo is regulated, as the business doesn’t have a loaning 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 however their legal address is nowhere to be found on the site. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our current research study, the executive board doesn’t even include Antoli, however just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is understood for the “misuse of clients money”. Likewise when examining a few of Nexo’s comments from the CEO
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Nexo is the only platform that uses interest on fiat. Now that we have examined some of the track records of the 4 discussed platforms, let’s briefly go over the usability of every crypto financing site. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is likewise working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler uses some of the most advanced services amongst the crypto lending 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 loaning platform is providing. What you must consider though, is that as quickly as you deposit your crypto on any platform, you are not owning your personal secrets anymore and your possessions might get jeopardized either by third parties or by the platform itself. Youhodler 加密資產
give up your ownership of the properties as long as you hold them in the platform’s wallet. The only method to secure your crypto is to save it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The downside of this strategy is that you will only take advantage of the increased worth of your coin but not the interest on your deposits, which is something you can do on one of the crypto loaning platforms. However, as with any financial investment, it constantly comes down to the risk and return and your threat profile. Based on our extensive contrast, let’s have an appearance at our independent scores of every classification for every platform. Keep in mind, that we have assigned the rankings based on our own research study. One represents the lowest ranking while five represent the highest score. Within business model category.