Youhodler Deutschland 2021 – Crypto Loans

Yes so… Youhodler Deutschland…Much of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business model of individual platforms, the return rates, the credibility and track record, functionality of their apps and we will also talk about some of the dangers that you must consider when transferring your crypto on one of these platforms. We will also round up the comparison with our independent score of the just-mentioned classifications for each platform. 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 end up being a more educated P2P financier

 

Let’s first give you a short introduction to every platform prior to we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. The platform uses its services worldwide, nevertheless, they are currently not issuing loans in the United States due to local guidelines.

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The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned countries. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not just on their coins but also fiat deposits. Nexo is in fact, one of just two, to us known, crypto financing platforms that use interest on fiat deposits.

 

And the platform is also preparing to introduce a BlockFi credit card which will produce 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 service model as the platform doesn’t have A dedicated area about

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If you are enjoying this video, you want to make cash by depositing your coins on one of the platforms? Every platform has specific limits and terms when it comes to providing interest on your coins. You are just able to make greater rates if you decide to get the interest in Celsius’s own energy token.

 

You can earn 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses greater rewards for those who want to get the interest in the native NEXO tokens rather of the deposited currency. What you need to keep in mind is that platforms tend to change the rates from time to time, so you can’t actually forecast the real return from your deposits. Youhodler Deutschland

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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 financial report for 2020, where you will find out that the platform is not successful. BlockFi is also financed by lots of institutional investors and the platform is primarily targeting the United States market. According to our research study, it appears like he has transferred to Switzerland to release his crypto financing platform YouHodler in 2017.

 

deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have actually pointed out together with other red flags in our previous video. Likewise, at the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a little a steep development even if we think about the hype in the crypto space. 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 style Retail industry. On his LinkedIn profile, he explains Nexo as the leading managed banks for digital properties. I would be actually interested by whom Nexo is regulated, as the business doesn’t have a financing license in Estonia, where they are a legal entity Nexo Provider OU is based. Throughout our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be discovered on the site. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our recent research, the executive board does not even include 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 money”. When evaluating some of Nexo’s comments from the CEO

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in the media, he is frequently only promoting crypto and predicting rates but does not have any deeper insights into the crypto lending space or how Nexo is running. That’s just our impression from his Bloomberg talks. Nexo is the only platform that uses interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not lawyers, we have a hard time to comprehend the legal setup under which Nexo is providing its services. So now that we have actually examined a few of the track records of the 4 mentioned platforms, let’s briefly review the use of every crypto loaning site. Celsius has started as a native mobile app. The app is well developed and it comes with numerous security features such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you are able to see how many assets you are holding and what are the presently offered rates. You can move and withdraw supported coins however there is no exchange, so if you don’t deposit your cryptos from another wallet, you can acquire them directly through the app. Note, nevertheless, that there might be fees for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less industrialized impression. The app is very simple therefore is the desktop variation of the platform. BlockFi supports currently only 10 digital currencies. The platform likewise uses a dedicated exchange so you can even trade them. We don’t advise this function that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only available to U.S. people, the platform is also dealing with a Bitcoin benefits credit card which will be competing with the charge card from Crypto.com YouHodler provides a few of the most sophisticated services amongst the crypto loaning platforms. Presently, the platform supports 18 digital

 

currencies on which you have the ability to earn interest. YouHodler permits you to exchange between different currencies or deposit fiat via 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 doesn’t have a banking license, you can only make interest on your crypto properties. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise provides you the option to borrow fiat money in exchange for collateral. The platform currently supports only loans in us euros or dollars. YouHodler is also among the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler likewise provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic financiers. As the performance of those functions exceeds this video, you can discover how it works in our dedicated youhodler review on p2pempire. Nexo’s functionality is similar to Celsius Network. Nexo is also using its utility tokens to offer much better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals per month. Likewise if you decide to stake your coins or fiat, implying you lock your assets for a specified term, you can get a higher rates of interest. Like BlockFi, Nexo also provides you to buy, or exchange crypto if you wish to hold your possessions in various currencies. Now you have a truly strong idea of what every crypto loaning platform is using. What you must consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your private keys any longer and your properties might get jeopardized either by third parties or by the platform itself. It’s like depositing 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 very clear about the truth that you Youhodler Deutschland

 

give up your ownership of the properties as long as you hold them in the platform’s wallet. The only method to protect your crypto is to store it on a devoted hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The downside of this strategy is that you will just gain from the increased worth of your coin however not the interest on your deposits, which is something you can do on among the crypto loaning platforms. But, similar to any financial investment, it constantly comes down to the danger and return and your danger profile. Based on our thorough contrast, let’s have a look at our independent rankings of every classification for every platform. Note, that we have assigned the ratings based on our own research. One represents the most affordable rating while five represent the greatest score. Within business model category.