Youhodler Bitcoin Keys 2021 – Crypto Loans

Yes so… Youhodler Bitcoin Keys…Many of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the company model of individual platforms, the return rates, the trustworthiness and track record, use of their apps and we will likewise talk about some of the dangers that you should consider when depositing your crypto on one of these platforms.

 

consider subscribing and struck the like button to see more material like this in the future. Let’s 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. Currently, there are over 650,000 users utilizing Celsius Network to make or take a crypto loan interest on their stablecoins and cryptocurrencies. In overall, Celsius handles more than $17 B worth of possessions. The platform offers its services worldwide, nevertheless, they are currently not releasing loans in the United States due to local guidelines. BlockFi is the largest

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The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned nations. Nexo is another European platform that provides crypto enthusiasts the option to make interest not just on their coins but also fiat deposits. Nexo is in reality, one of only 2, to us understood, crypto lending platforms that offer interest on fiat deposits.

 

And the platform is likewise preparing to launch a BlockFi credit card which will generate 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 interpretation from Nexo’s service design as the platform does not have A dedicated section about

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If you are enjoying this video, you desire to make money by depositing your coins on one of the platforms? Every platform has certain limits and terms when it comes to offering interest on your coins. You are only able to earn greater rates if you choose to get the interest in Celsius’s own utility token.

 

9% per year. What’s worth discussing is that if you wish to conserve some charges, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not require to pay the substantial gas fee, as the currency runs on the Binance Smart Chain with way lower charges in contrast to stablecoins that operate on the ethereum network. The Binance USD coin is presently just supported on Celsius Network and BlockFi. YouHodler offers currently 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 uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses 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 adjust the rates from time to time, so you can’t actually predict the genuine return from your deposits. Likewise, bear in mind that by transferring your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. Now, that you are mindful of the returns let’s briefly review the reliability of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this area. The creator Alex Mashinsky is a well-known entrepreneur. Before introducing 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 development and review some of the stats. As we are taping 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 Bitcoin Keys

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paid out more than $367 M worth of rewards. While we haven’t managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is attending to the most frequently asked questions, which is something rather uncommon in this area. 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 rewarding. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development space instead of the fintech space. BlockFi is also financed by numerous institutional financiers and the platform is mainly targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Only for U.S residents as BlockFi has the necessary financing licenses just in the U.S. If you wish to examine BlockFi’s statistics you won’t be happy as there are none available. Some external sources recommend that there are more than 125,000 signed up users, however, we were not able to validate any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research study, it looks like he has transferred to Switzerland to introduce his crypto lending platform YouHodler in 2017. I know that YouHodler has been applauded by some of you in the comments on previous videos, unfortunately, the platform isn’t publicly exposing any financial reports, nor data about their user base or assets under YouHodler’s management. When utilizing YouHodler, this is something you must certainly consider. Proceeding to Nexo. Nexo declares to manage $12 B worth of possessions from more than 1.5 M of users. If this is right, it would suggest that Nexo is two times as huge in terms of user base as Celsius with a much lower average

 

deposit quantity 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 red flags in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 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 think about the buzz in the crypto area. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian politician with experience in the fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading managed financial institution for digital possessions. I would be actually interested by whom Nexo is managed, as the company doesn’t have a loaning 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 but their legal address is no place to be found on the website. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance business that obviously is financing Nexo. According to our recent research, the executive board does not even include Antoli, but 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 clients cash”. When evaluating some of Nexo’s comments from the CEO

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in the media, he is frequently only promoting crypto and predicting rates but does not have any deeper insights into the crypto loaning area or how Nexo is operating. That’s simply our impression from his Bloomberg talks. Likewise, Nexo is the only platform that provides interest on fiat. According to our understanding, you can not offer interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Even though we are not lawyers, we struggle to understand the legal setup under which Nexo is using its services. Now that we have actually evaluated some of the track records of the four mentioned platforms, let’s briefly go over the functionality of every crypto financing website. Celsius has started as a native mobile app. The app is well established and it comes with different security functions such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you have the ability to see the number of properties you are holding and what are the presently used 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 purchase them straight through the app. Note, however, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less industrialized impression. The app is very simple and so is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform also uses a devoted exchange so you can even trade them. We do not recommend this function that much as the exchange rates are not the best. While the crypto loans on BlockFi are only available to U.S. residents, the platform is also dealing with a Bitcoin benefits credit card which will be competing with the charge card from Crypto.com YouHodler offers some of the most advanced services amongst the crypto loaning platforms. Presently, the platform supports 18 digital

 

currencies on which you have the ability to make interest. YouHodler enables you to exchange in between various currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are extremely low, so you don’t require to transfer hundreds of Euros or Dollars to evaluate 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 making interest on your deposits or exchanging cryptos, YouHodler also offers you the option to obtain fiat money in exchange for collateral. The platform currently supports only loans in us dollars or euros. YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the performance of those functions surpasses this video, you can discover how it works in our dedicated youhodler review on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is likewise utilizing its energy tokens to use better rates on loans, greater interests on crypto and fiat deposits, or more complimentary withdrawals monthly. If you decide to stake your coins or fiat, indicating you lock your properties for a specified term, you can get a higher interest rate. Like BlockFi, Nexo also uses you to buy, or exchange crypto if you want to hold your assets in various currencies. Now you have a truly strong idea of what every crypto loaning platform is offering. What you need to think about though, is that as soon as you deposit your crypto on any platform, you are not owning your personal keys anymore and your possessions might get jeopardized either by 3rd parties or by the platform itself. It resembles depositing 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 Bitcoin Keys

 

give up your ownership of the assets as long as you hold them in the platform’s wallet. The only method to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The disadvantage of this strategy is that you will only benefit 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 risk and return and your danger profile. So based on our thorough contrast, let’s take a look at our independent rankings of every category for each platform. Note, that we have actually designated the scores based on our own research study. One represents the lowest ranking while five mean the highest rating. Within business model classification.