Yes so… Youhodler El Pastas Kaunas…A lot of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business model of private platforms, the return rates, the credibility and track record, use of their apps and we will likewise talk about a few of the risks that you must consider when transferring your crypto on among these platforms. We will likewise assemble the contrast with our independent score of the just-mentioned classifications for each platform. So keep watching until completion to discover how we scored specific platforms. if you are brand-new to this channel and your objective is to end up being a more informed P2P financier
consider subscribing and struck the like button to see more material like this in the future. Let’s very first offer you a short intro to every platform before we dive deeper into the contrast. 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 using Celsius Network to make or take a crypto loan interest on their stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of possessions. The platform offers its services worldwide, nevertheless, they are presently not providing loans in the United States due to local policies. BlockFi is the biggest
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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 nations. Nexo is another European platform that offers crypto enthusiasts the option to earn interest not only on their coins but likewise fiat deposits. Nexo is in reality, one of just 2, to us known, crypto financing platforms that provide interest on fiat deposits.
And the platform is likewise planning to release a BlockFi credit card which will generate 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 interpretation from Nexo’s business model as the platform does not have A dedicated area about
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If you are seeing this video, you want to make money by transferring your coins on one of the platforms? Every platform has certain limits and terms when it comes to providing 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 higher rewards for those who desire to receive 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 truly predict the real return from your deposits. Youhodler El Pastas Kaunas
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deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting standards as we have explained together with other warnings in our previous video. Likewise, at the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform declares to handle $12B from 1.5 M users, which we believe is a little bit of a steep development even if we think about 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 political leader with experience in the style Retail industry. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital properties. I would be actually interested by whom Nexo is regulated, as the company does not have a financing license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be discovered on the site. The second co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance business that apparently is funding Nexo. According to our current research, the executive board does not even include Antoli, but just 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 understood for the “misuse of customers money”. Likewise when reviewing a few of Nexo’s remarks from the CEO
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Nexo is the only platform that uses interest on fiat. Now that we have actually examined some of the track records of the four 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 rewards credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most sophisticated services amongst the crypto financing platforms.
YouHodler is also one of the platforms with versatile loan terms and an optimum LTV of 90%. Now you have a truly strong concept of what every crypto loaning platform is using. What you should think about however, 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 third parties or by the platform itself. Youhodler El Pastas Kaunas
The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The drawback of this strategy 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 lending platforms. Based on our extensive contrast, let’s have a look at our independent scores of every category for every platform.