Youhodler Blog 2021 – Crypto Loans

Yes so… Youhodler Blog…Many of you have actually asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business model of individual platforms, the return rates, the trustworthiness and track record, use of their apps and we will likewise discuss some of the dangers that you ought to consider when transferring your crypto on among these platforms. We will also assemble the contrast with our independent rating of the just-mentioned categories for every single platform. So keep watching till the end to find out how we scored individual platforms. if you are new to this channel and your objective is to become a more educated P2P financier

 

think about subscribing and hit the like button to see more material like this in the future. So let’s very first give you a brief introduction to every platform prior to 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. Currently, there are over 650,000 users utilizing 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 local guidelines. BlockFi is the biggest

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rival to Celsius Network. The US-based company has trading and lending licenses in various US states. If you are searching for a wealth-management app for your crypto assets BlockFi is definitely worth considering. The platform provides crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of sanctioned countries. YouHodler is most likely the most genuine crypto lending platform in Europe. The company is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler provides extremely competitive rates on your crypto assets in addition to numerous other features which you will not discover on any other platforms. The platform is readily available in numerous countries with the exception of Germany and the U.S.A.. If you reside in the states, you won’t be able to utilize YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not just on their coins but also fiat deposits. Nexo remains in reality, one of just 2, to us known, crypto financing platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. So now that you have a short introduction of every platform

 

And the platform is also planning to release a BlockFi credit card which will generate 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 design as the platform does not have A devoted area about

money fees on celsius services priced about stablecoins  profit margin Youhodler Blog

If you are seeing this video, you desire to make cash by transferring your coins on one of the platforms? Every platform has specific limits and terms when it comes to using interest on your coins. You are just able to earn higher rates if you decide to receive the interest in Celsius’s own energy token.

 

9% annually. What deserves mentioning is that if you want to conserve some costs, 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 substantial gas fee, as the currency operates on the Binance Smart Chain with way lower costs in contrast to stablecoins that run on the ethereum network. The Binance USD coin is presently 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 energy tokens. 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 benefits for those who wish to receive the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to bear 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. Likewise, keep in mind that by transferring your crypto, the value of the currency might decrease Which will make it hard for you to liquidate your assets if that’s something you would otherwise consider. So now, that you are aware of the returns let’s briefly review the trustworthiness of the platforms and their performance history. Celsius Network is most likely the most genuine platform in this area. The founder Alex Mashinsky is a popular entrepreneur. Prior to launching the Celsius network, he has co-founded 3 startups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the development and review some of the data. As we are tape-recording this video, there are over 650,000 users and the platform is managing $17 billion worth of assets. Alone in the last 12 months, Celsius has Youhodler Blog

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paid 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 addressing the most frequently asked questions, which is something rather uncommon in this area. The platform is not transparent when it comes to sharing its financial reports, but with a bit of digging, you can get your hands on the monetary report for 2020, where you will learn that the platform is not successful yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement space instead of the fintech area. BlockFi is also funded by lots of institutional investors and the platform is primarily targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are offered Just for U.S people as BlockFi has the required lending licenses only in the U.S. If you wish to inspect BlockFi’s statistics you will not enjoy as there are none readily available. Some external sources suggest that there are more than 125,000 registered users, nevertheless, we were not able to verify any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research study, it seems like he has actually moved to Switzerland to launch his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been praised by a few of you in the comments on previous videos, unfortunately, the platform isn’t openly exposing any financial reports, nor statistics about their user base or properties under YouHodler’s management. When utilizing YouHodler, this is something you should certainly consider. Carrying on to Nexo. Nexo claims to handle $12 B worth of properties from more than 1.5 M of users. If this is appropriate, it would mean that Nexo is two times as huge in terms of user base as Celsius with a much lower average

 

At the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 months later, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep growth even if we consider the buzz in the crypto space. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our current research study, the executive board doesn’t even include Antoli, but only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “abuse of clients money”.

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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 functionality of every crypto lending site. While the crypto loans on BlockFi are just readily available to U.S. citizens, the platform is likewise working on a Bitcoin benefits credit card which will be completing with the credit card from Crypto.com YouHodler offers some of the most sophisticated services among the crypto loaning platforms.

 

YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have an actually solid idea of what every crypto financing platform is offering. What you need to consider though, is that as soon as you deposit your crypto on any platform, you are not owning your private secrets anymore and your possessions may get jeopardized either by 3rd parties or by the platform itself. Youhodler Blog

 

The only method to secure your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside of this technique is that you will just benefit from the increased worth 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 comparison, let’s have a look at our independent ratings of every classification for every platform.