Youhodler Bitcoin Points 2021 – Crypto Loans

Yes so… Youhodler Bitcoin Points…A number of you have requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing business model of private platforms, the return rates, the credibility and track record, use of their apps and we will likewise speak about some of the threats that you ought to think about when depositing your crypto on one of these platforms. We will likewise round up the contrast with our independent score of the just-mentioned classifications for each platform. So keep watching till completion to learn how we scored private platforms. If you are new to this channel and your goal is to become a more educated P2P investor,

 

think about subscribing and hit the like button to see more content like this in the future. Let’s very first provide you a quick intro to every platform before 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 utilizing Celsius Network to earn 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 currently not providing loans in the United States due to regional guidelines. BlockFi is the largest

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competitor to Celsius Network. The US-based business has trading and financing licenses in numerous US states. If you are trying to find a wealth-management app for your crypto assets BlockFi is definitely worth thinking about. The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned nations. YouHodler is most likely the most genuine crypto financing platform in Europe. The business is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler offers very competitive rates on your crypto properties in addition to several other functions which you won’t discover on any other platforms. The platform is offered in lots of nations with the exception of Germany and the U.S.A.. If you reside in the states, you will not be able to use YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the alternative to make interest not just on their coins however likewise fiat deposits. Nexo is in fact, among only two, to us known, crypto financing platforms that provide interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a short summary of every platform

 

let’s talk about how they make money in the first place. So Celsius earns money from the interest they charge to the customers which are either retail borrowers or institutions, they likewise generate income 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 uses the security from the borrowers and deploys it in order to produce additional income. BlockFi is also making money through the interest that is being charged to customers. The platform also charges a 2% origination fee for anybody who wants to take a loan. Another income stream is BlockFi’s exchange feature. When exchanging currencies, the platform makes cash from the spread. BlockFi also charges withdrawal costs after your one free withdrawal monthly. And the platform is also planning to release a BlockFi credit card which will produce another earnings stream. YouHodler is also making money from the interest credited borrowers. In addition to that, there is a little withdrawal charge and fees for additional services such as the Multi HODL tool, which is a function that lets you take advantage of your crypto properties in exchange for prospective returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. Nexo also makes revenues with their Nexo token. That’s at least our analysis from Nexo’s organization model as the platform does not 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 one of the platforms? Before we compare the rates, there are a couple of things that you need to consider however. When it comes to using interest on your coins, every platform has certain limits and terms. For example, Celsius Network alters the rates every week to show the current market circumstance. Also, you are just able to earn higher rates if you choose to get the interest in Celsius’s own energy token. The higher benefit rates are also not offered for United States people. If you would not wish to pay your benefits in the CEL token, you can presently anticipate 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 variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will get. The rate of interest for Ethereum ranges 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

 

You can make 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 offers higher rewards for those who want to get 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 truly predict the real return from your deposits. Youhodler Bitcoin Points

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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 successful. BlockFi is likewise financed by many institutional investors and the platform is primarily targeting the US market. According to our research study, it seems like he has relocated to Switzerland to introduce his crypto loaning platform YouHodler in 2017.

 

deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting standards as we have explained together with other red flags in our previous video. At the start of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep 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 political leader with experience in the fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading managed banks for digital possessions. I would be really interested by whom Nexo is controlled, 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 found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be discovered on the website. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan company that obviously is funding Nexo. According to our current research, the executive board does not even include Antoli, but just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is understood for the “misuse of clients cash”. When examining some of Nexo’s remarks from the CEO

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Nexo is the only platform that offers interest on fiat. Now that we have examined some of the track records of the 4 mentioned platforms, let’s briefly go over the usability of every crypto lending website. While the crypto loans on BlockFi are just available to U.S. citizens, the platform is also working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler uses some of the most sophisticated services among the crypto loaning platforms.

 

currencies on which you are able to make interest. YouHodler enables you to exchange between different currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are extremely low, so you do not need to move hundreds of Euros or Dollars to evaluate the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can only make interest on your crypto properties. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also provides you the option to borrow fiat money in exchange for collateral. The platform currently supports just loans in us dollars or euros. YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the performance of those functions goes beyond this video, you can discover how it operates in our dedicated youhodler evaluation on p2pempire. Nexo’s use resembles Celsius Network. Nexo is likewise utilizing its utility tokens to provide better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals each month. If you decide to stake your coins or fiat, suggesting you lock your possessions for a defined term, you can get a greater interest rate. Like BlockFi, Nexo likewise provides you to purchase, or exchange crypto if you want to hold your possessions in different currencies. Now you have a truly solid idea of what every crypto lending platform is offering. What you should think about however, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys any longer and your properties might get compromised either by third parties or by the platform itself. It’s like 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 very clear about the truth that you Youhodler Bitcoin Points

 

The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy is that you will just benefit 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 loaning platforms. Based on our thorough contrast, let’s have a look at our independent ratings of every classification for every platform.