Yes so… Youhodler Complaints…A lot of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing business design of private platforms, the return rates, the reliability and track record, usability of their apps and we will likewise discuss some of the dangers that you ought to think about when transferring your crypto on one of these platforms. We will also round up the contrast with our independent score of the just-mentioned classifications for each platform. So keep watching till the end to learn how we scored individual platforms. If you are brand-new to this channel and your goal is to end up being a more informed P2P investor,
think about subscribing and struck the like button to see more content like this in the future. Let’s first give you a quick introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform worldwide, 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 properties. The platform uses its services worldwide, however, they are presently not providing loans in the United States due to regional policies. BlockFi is the largest
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competitor to Celsius Network. The US-based company has trading and lending licenses in numerous US states. If you are searching for a wealth-management app for your crypto possessions BlockFi is certainly worth considering. The platform provides crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto financing platform in Europe. The business is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler uses very competitive rates on your crypto properties along with a number of other features which you will not discover on any other platforms. The platform is readily available in lots of nations with the exception of Germany and the USA. If you live in the states, you won’t be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the alternative to make interest not only on their coins but also fiat deposits. Nexo remains in truth, one of only two, to us known, crypto loaning platforms that provide interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief summary of every platform
And the platform is also planning to launch a BlockFi credit card which will generate another income stream. Like all the other platforms, Nexo likewise 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 website. Now let’s discuss the returns. If you are enjoying this video, you want to generate income by depositing your coins on one of the platforms right? Prior to we compare the rates, there are a few things that you need to consider. When it comes to using interest on your coins, every platform has certain limitations and terms. So for instance, Celsius Network alters the rates each week to show the present market situation. You are just able to make greater rates if you choose to get the interest in Celsius’s own energy token. The greater reward rates are also not offered for US people. If you would not want to pay out your rewards in the CEL token, you can currently 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 number of your properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate of interest for Ethereum ranges 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% per year. What’s worth pointing out is that if you want to conserve some costs, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not require to pay the substantial gas fee, as the currency works on the Binance Smart Chain with way lower charges in contrast to stablecoins that run on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler offers 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 provides higher rewards for those who want to get the interest in the native NEXO tokens instead of the deposited currency. The platform offers 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you need to keep in mind is that platforms tend to change the rates from time to time, so you can’t actually predict the real return from your deposits. Keep in mind that by depositing 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 think about. So now, that you know the returns let’s briefly evaluation the trustworthiness of the platforms and their performance history. Celsius Network is most likely the most legitimate platform in this space. The founder Alex Mashinsky is a widely 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 keep track of the progress and examine a few of the statistics. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Complaints
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paid out more than $367 M worth of rewards. While we haven’t managed to get answers to our questions, the CEO does hold a weekly AMA session where he is addressing the most frequently asked questions, which is something rather unusual in this area. The platform is not transparent when it pertains to sharing its monetary 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 rewarding yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development space instead of the fintech space. BlockFi is also financed by many 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 readily available Only for U.S people as BlockFi has the necessary financing licenses only in the U.S. , if you want to examine BlockFi’s stats you will not be happy as there are none available.. Some external sources recommend that there are more than 125,000 registered 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 space in Russia. According to our research study, it appears like he has transferred to Switzerland to launch his crypto lending platform YouHodler in 2017. I understand that YouHodler has actually been praised by some of you in the discuss previous videos, regrettably, the platform isn’t openly revealing any financial reports, nor stats about their user base or properties under YouHodler’s management. This is something you need to definitely consider when utilizing YouHodler. Carrying on to Nexo. Nexo declares to manage $12 B worth of properties from more than 1.5 M of users. If this is correct, it would suggest that Nexo is two times as big in regards to user base as Celsius with a much lower average
deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have pointed out together with other warnings in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a bit of a steep growth even if we consider the hype in the crypto area. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research study, Antoni was a Bulgarian politician with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading managed banks for digital possessions. I would be actually interested by whom Nexo is controlled, as the business doesn’t have a lending license in Estonia, where they are a legal entity Nexo Solutions OU is based. Throughout our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance loan business that obviously is financing Nexo. According to our recent research study, the executive board does not even consist of Antoli, however only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is known for the “abuse of clients cash”. Also when examining a few of Nexo’s comments from the CEO
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Nexo is the only platform that offers interest on fiat. Now that we have evaluated some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto lending website. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be completing with the credit card from Crypto.com YouHodler provides some of the most innovative services among the crypto loaning platforms.
currencies on which you have the ability to make interest. YouHodler permits you to exchange between numerous currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are very low, so you do not require to transfer hundreds of Euros or Dollars 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 just make interest on your crypto possessions. Apart from making interest on your deposits or exchanging cryptos, YouHodler also offers you the choice 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 versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also uses 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the performance of those features exceeds this video, you can learn how it operates in our devoted youhodler review on p2pempire. Nexo’s usability is similar to Celsius Network. Nexo is likewise utilizing its utility tokens to offer better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals per month. If you choose 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 offers you to purchase, or exchange crypto if you wish to hold your properties in different currencies. Now you have an actually strong idea of what every crypto lending platform is using. What you must consider though, is that as quickly as you deposit your crypto on any platform, you are not owning your private keys any longer and your properties may get jeopardized either by 3rd parties or by the platform itself. It’s like depositing your crypto on the exchange – if you do not own the secrets, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are very clear about the reality that you Youhodler Complaints
The only way to secure your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The downside of this technique 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 financing platforms. Based on our extensive comparison, let’s have an appearance at our independent ratings of every classification for every platform.