Youhodler Crypto Wealth Management 2021 – Crypto Loans

Yes so… Youhodler Crypto Wealth Management…Numerous of you have actually requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the organization design of specific platforms, the return rates, the credibility and track record, usability of their apps and we will likewise talk about some of the risks that you ought to consider when depositing your crypto on one of these platforms.

 

Let’s very first offer you a brief introduction to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. The platform uses its services worldwide, nevertheless, they are presently not issuing loans in the United States due to local policies.

youhodler crypto interest loans, platform for users

The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved countries. Nexo is another European platform that offers crypto lovers the alternative to earn interest not only on their coins however also fiat deposits. Nexo is in fact, one of just two, to us known, crypto financing platforms that offer interest on fiat deposits.

 

And the platform is also planning to release 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 customers. That’s at least our analysis from Nexo’s service model as the platform does not have A devoted area about

money fees on celsius services priced about stablecoins  profit margin Youhodler Crypto Wealth Management

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

 

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 greater benefits for those who want to receive the interest in the native NEXO tokens instead 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 genuine return from your deposits. Youhodler Crypto Wealth Management

bitcoin amount of lending service with value feature trading

paid out more than $367 M worth of benefits. While we have not 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 space. The platform is not transparent when it concerns 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 rewarding yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement area rather than the fintech space. BlockFi is also funded by many institutional investors and the platform is mainly targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are available Only for U.S citizens as BlockFi has the necessary loaning licenses only in the U.S. If you want to check BlockFi’s statistics you will not enjoy as there are none available. Some external sources suggest that there are more than 125,000 registered users, however, we were unable to verify 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, it appears like he has actually relocated to Switzerland to launch his crypto lending platform YouHodler in 2017. I know that YouHodler has been praised by a few of you in the talk about previous videos, sadly, the platform isn’t openly exposing any monetary reports, nor data about their user base or assets under YouHodler’s management. This is something you need to certainly consider when utilizing YouHodler. Moving on to Nexo. Nexo declares to manage $12 B worth of properties from more than 1.5 M of users. If this is right, it would suggest that Nexo is twice as huge in terms of user base as Celsius with a much lower average

 

deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting standards as we have actually pointed out together with other warnings in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform declares to manage $12B from 1.5 M users, which we think is a bit of a high development even if we think about the hype in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research study, Antoni was a Bulgarian political leader with experience in the fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading controlled banks for digital assets. I would be actually interested by whom Nexo is managed, as the company does not have a financing 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 but their legal address is nowhere to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance loan business that obviously is funding Nexo. According to our recent research study, the executive board does not even consist of 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 loaning platform, which is known for the “misuse of clients money”. When reviewing some of Nexo’s remarks from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is often only promoting crypto and forecasting rates but does not have any much deeper insights into the crypto financing area or how Nexo is operating. However that’s just our impression from his Bloomberg talks. 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 certainly does not have. Despite the fact that we are not legal representatives, we struggle to understand the legal setup under which Nexo is offering its services. So now that we have examined a few of the performance history of the four discussed platforms, let’s briefly discuss the usability of every crypto financing site. Celsius has actually begun as a native mobile app. The app is well established and it features different security features such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see the number of assets you are holding and what are the presently provided rates. You can move and withdraw supported coins however there is no exchange, so if you do not deposit your cryptos from another wallet, you can buy them directly through the app. Note, however, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital possessions. BlockiFi makes a less industrialized impression. The app is extremely simple therefore is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform likewise offers a dedicated exchange so you can even trade them. We do not suggest this function that much as the exchange rates are not the best. While the crypto loans on BlockFi are just available to U.S. people, the platform is also dealing with a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler provides a few of the most innovative services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

currencies on which you are able to earn interest. YouHodler permits you to exchange between different currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit quantities are extremely low, so you do not require to transfer numerous Euros or Dollars to test 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 earn interest on your crypto assets. Apart from making interest on your deposits or exchanging cryptos, YouHodler likewise provides you the alternative to borrow fiat money in exchange for security. The platform currently supports only loans in us euros or dollars. YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also uses two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the performance of those functions surpasses this video, you can learn how it operates in our dedicated youhodler review on p2pempire. Nexo’s functionality resembles Celsius Network. Nexo is likewise using its utility tokens to use much better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals per month. If you decide to stake your coins or fiat, indicating you lock your properties for a specified term, you can get a greater interest rate. Like BlockFi, Nexo also offers you to purchase, or exchange crypto if you want to hold your possessions in various currencies. Now you have a truly strong concept of what every crypto loaning platform is offering. What you ought to think about though, is that as quickly as you transfer your crypto on any platform, you are not owning your private secrets anymore and your assets might get jeopardized either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you don’t own the keys, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are really clear about the fact that you Youhodler Crypto Wealth Management

 

The only method to protect your crypto is to save it on a devoted hardware wallet like this one from Trezor. The downside of this method is that you will only 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 in-depth contrast, let’s have an appearance at our independent ratings of every classification for every platform.