Youhodler Deutsch 2021 – Crypto Loans

Yes so… Youhodler Deutsch…A lot of you have actually asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the business model of private platforms, the return rates, the trustworthiness and performance history, use of their apps and we will also discuss some of the threats that you need to think about when transferring your crypto on among these platforms. We will also assemble the contrast with our independent score of the just-mentioned categories for every single platform. So keep watching till completion to discover how we scored specific platforms. If you are new to this channel and your goal is to become a more educated P2P financier,

 

consider subscribing and struck the like button to see more content like this in the future. Let’s first give you a quick intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform on the planet, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of properties. The platform provides its services worldwide, nevertheless, they are presently not releasing loans in the United States due to local policies. BlockFi is the largest

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competitor to Celsius Network. The US-based company has trading and financing licenses in different US states. , if you are looking for a wealth-management app for your crypto possessions BlockFi is definitely worth considering.. The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of sanctioned countries. YouHodler is most likely the most genuine crypto loaning platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers very competitive rates on your crypto possessions along with a number of other features which you will not find on any other platforms. The platform is offered in numerous nations with the exception of Germany and the U.S.A.. So if you reside in the states, you won’t have the ability to utilize YouHodler’s services. Nexo is another European platform that provides crypto lovers the alternative to earn interest not just on their coins however likewise fiat deposits. Nexo remains in reality, among only 2, to us known, crypto financing platforms that offer interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief summary of every platform

 

And the platform is likewise preparing to release a BlockFi credit card which will create another earnings 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 analysis from Nexo’s organization design as the platform doesn’t have A devoted area about

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If you are watching this video, you want to make money by transferring your coins on one of the platforms? Every platform has particular limitations and terms when it comes to using interest on your coins. You are just able to make higher rates if you choose to receive the interest in Celsius’s own energy token.

 

9% annually. What’s worth pointing out is that if you want to save some costs, 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 cost, as the currency works on the Binance Smart Chain with method lower costs in contrast to stablecoins that run on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler provides currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility 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 greater benefits 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 ought to keep in mind is that platforms tend to change the rates from time to time, so you can’t really anticipate the real return from your deposits. Likewise, keep in mind that by depositing your crypto, the worth of the currency may reduce 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 trustworthiness of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The creator Alex Mashinsky is a popular entrepreneur. Prior to launching the Celsius network, he has co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep an eye on the development and evaluate a few of the statistics. As we are taping 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 Deutsch

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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 unusual in this space. The platform is not transparent when it comes to sharing its financial reports, however 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 profitable. 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 financed by numerous institutional investors and the platform is primarily targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are available Only for U.S residents as BlockFi has the necessary lending licenses only in the U.S. , if you want to inspect BlockFi’s stats you will not be delighted as there are none offered.. Some external sources recommend that there are more than 125,000 signed up users, nevertheless, we were not able to confirm any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research, it seems like he has actually relocated to Switzerland to release his crypto loaning platform YouHodler in 2017. I know that YouHodler has actually been applauded by some of you in the discuss previous videos, sadly, the platform isn’t openly revealing any monetary reports, nor stats about their user base or possessions under YouHodler’s management. When using YouHodler, this is something you ought to definitely consider. Carrying on to Nexo. Nexo claims to manage $12 B worth of assets from more than 1.5 M of users. It would imply that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is right

 

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 manage $12B from 1.5 M users, which we believe is a bit of a steep development even if we consider the buzz in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our current research study, 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 customers money”.

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in the media, he is frequently only promoting crypto and anticipating prices however does not have any much deeper insights into the crypto lending area or how Nexo is running. That’s simply our impression from his Bloomberg talks. Also, Nexo is the only platform that offers interest on fiat. According to our understanding, you can not use interest on fiat deposits unless you have a banking license which Nexo definitely 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 examined some of the track records of the 4 discussed platforms, let’s briefly go over the use of every crypto loaning site. Celsius has actually started as a native mobile app. The app is well established and it includes various security functions such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you have the ability to see how many possessions you are holding and what are the currently used rates. You can withdraw and move supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can purchase them straight through the app. Note, however, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less industrialized impression. The app is really easy and so is the desktop version of the platform. BlockFi supports currently only 10 digital currencies. The platform also provides a devoted exchange so you can even trade them. We don’t advise this function that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just offered to U.S. people, the platform is likewise working on a Bitcoin rewards credit card which will be taking on the credit card from Crypto.com YouHodler provides some of the most advanced services among the crypto financing platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a really solid idea of what every crypto lending platform is providing. What you should consider however, is that as soon as you deposit your crypto on any platform, you are not owning your personal keys anymore and your assets may get jeopardized either by 3rd parties or by the platform itself. Youhodler Deutsch

 

quit your ownership of the properties as long as you hold them in the platform’s wallet. The only method to secure your crypto is to store it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The downside of this method 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. But, as with any investment, it always boils down to the danger and return and your danger profile. So based upon our thorough contrast, let’s have a look at our independent scores of every classification for each platform. Note, that we have designated the scores based on our own research study. One represents the lowest score while five mean the greatest ranking. Within business model category.