Yes so… Youhodler Banner…A lot 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 business model of specific platforms, the return rates, the reliability and track record, use of their apps and we will also speak about some of the dangers that you should think about when depositing your crypto on one of these platforms. We will also round up the comparison with our independent rating of the just-mentioned categories for every platform. Keep enjoying up until the end to find out how we scored private platforms. If you are brand-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 content like this in the future. So let’s very first offer you a quick introduction to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning 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 total, Celsius handles more than $17 B worth of assets. The platform provides its services worldwide, nevertheless, they are presently not releasing loans in the United States due to local guidelines. 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 around the world with exception of sanctioned countries. Nexo is another European platform that offers crypto enthusiasts the option to earn interest not just on their coins but likewise fiat deposits. Nexo is in fact, one of just two, to us known, crypto financing platforms that provide 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 borrowers. That’s at least our analysis from Nexo’s organization model as the platform does not have A devoted area about
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this on their site. Now let’s discuss the returns. If you are seeing this video, you wish to earn money by depositing your coins on one of the platforms right? Prior to we compare the rates, there are a couple of things that you should consider however. Every platform has particular limits and terms when it pertains to offering interest on your coins. For example, Celsius Network changes the rates every week to reflect the existing market scenario. Likewise, you are just able to make higher rates if you decide to receive the interest in Celsius’s own energy token. The greater benefit rates are likewise not offered for United States residents. If you would not wish to pay your rewards in the CEL token, you can presently 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 on the variety of your properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The interest rate for Ethereum ranges in between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is presently at
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 desire to receive the interest in the native NEXO tokens rather of the deposited currency. What you should keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really predict the genuine return from your deposits. Youhodler Banner
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The platform is not transparent when it comes to sharing its financial reports, but with a little bit of digging, you can get your hands on the monetary report for 2020, where you will find out that the platform is not lucrative. BlockFi is also financed by lots of institutional financiers and the platform is generally targeting the US market. According to our research, it seems like he has relocated to Switzerland to release his crypto financing platform YouHodler in 2017.
At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform claims to manage $12B from 1.5 M users, which we think is a bit of a high development even if we consider the hype in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan company that apparently is financing Nexo. According to our recent research study, the executive board does not even consist of Antoli, however only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “misuse of customers money”.
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in the media, he is typically only promoting crypto and forecasting prices however lacks any much deeper insights into the crypto financing space or how Nexo is running. That’s just our impression from his Bloomberg talks. Also, Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not provide interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not legal representatives, we have a hard time to understand the legal setup under which Nexo is offering its services. Now that we have actually examined some of the track records of the four discussed platforms, let’s briefly go over the functionality of every crypto financing website. Celsius has actually started as a native mobile app. The app is well established and it features numerous security features such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how many properties you are holding and what are the currently offered rates. You can transfer and withdraw supported coins but there is no exchange, so if you don’t transfer your cryptos from another wallet, you can acquire them straight through the app. Keep in mind, nevertheless, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less industrialized impression. The app is very easy therefore is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform also offers a devoted exchange so you can even trade them. We do not recommend this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are only offered to U.S. people, the platform is likewise working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most innovative services among the crypto loaning platforms. Presently, the platform supports 18 digital
currencies on which you have the ability to earn interest. YouHodler permits you to exchange in between various currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit amounts are extremely low, so you don’t need to transfer 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 only earn interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler likewise offers you the alternative to obtain fiat money in exchange for security. The platform currently supports only loans in us euros or dollars. YouHodler is also among the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also offers two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those features goes beyond this video, you can discover how it operates in our devoted youhodler review on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is likewise using its energy tokens to provide better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals per month. If you decide to stake your coins or fiat, suggesting you lock your assets for a specified term, you can get a greater interest rate. Like BlockFi, Nexo also offers you to buy, or exchange crypto if you wish to hold your properties in numerous currencies. Now you have a really strong idea of what every crypto financing platform is offering. What you need to consider though, is that as soon as you transfer your crypto on any platform, you are not owning your private keys any longer and your properties may get compromised either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the fact that you Youhodler Banner
The only way to secure 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 just 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 thorough contrast, let’s have a look at our independent rankings of every category for every platform.