Yes so… Youhodler Eurs…Numerous of you have requested a contrast 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 service design of private 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 should consider when transferring your crypto on one of these platforms.
think about subscribing and struck the like button to see more material like this in the future. So let’s first give you a brief introduction 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 utilizing Celsius Network to earn or take a crypto loan interest on their cryptocurrencies and stablecoins. In total, Celsius handles more than $17 B worth of assets. The platform offers its services worldwide, however, they are presently not issuing loans in the United States due to regional regulations. BlockFi is the biggest
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The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned countries. Nexo is another European platform that provides crypto enthusiasts the option to make interest not only on their coins but also fiat deposits. Nexo is in fact, one of just 2, to us known, crypto financing platforms that offer interest on fiat deposits.
let’s speak about how they earn money in the first place. So Celsius makes money from the interest they charge to the debtors which are either retail customers or institutions, they likewise make money from their CEL token which is an utility token that you can use to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which means that Celsius utilizes the security from the debtors and releases it in order to generate extra income. BlockFi is likewise making money through the interest that is being charged to borrowers. The platform likewise charges a 2% origination cost for anybody who desires to take a loan. Another income stream is BlockFi’s exchange feature. The platform generates income from the spread when exchanging currencies. BlockFi also charges withdrawal costs after your one free withdrawal per month. And the platform is likewise preparing to release a BlockFi charge card which will produce another earnings stream. YouHodler is also making money from the interest charged to borrowers. In addition to that, there is a small withdrawal charge and fees for additional services such as the Multi HODL tool, which is a feature that lets you utilize your crypto possessions in exchange for possible returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. Nexo likewise makes revenues with their Nexo token. That’s at least our analysis from Nexo’s business design as the platform doesn’t have A dedicated 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 certain limitations and terms when it comes to offering interest on your coins. You are only able to make greater rates if you choose to receive the interest in Celsius’s own energy token.
You can make 12% interest on your USDC holdings and the platform offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that offers higher benefits for those who desire to get the interest in the native NEXO tokens rather of the deposited currency. What you must keep in mind is that platforms tend to change the rates from time to time, so you can’t really predict the genuine return from your deposits. Youhodler Eurs
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deposit amount as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have mentioned 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 bit of a steep development even if we consider 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, Antoni was a Bulgarian politician with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled banks for digital possessions. I would be really interested by whom Nexo is managed, as the company doesn’t have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. Throughout our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance company that apparently is financing Nexo. According to our recent research, the executive board doesn’t even include Antoli, but just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “abuse of customers cash”. When reviewing some 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 reviewed some of the track records of the 4 pointed out platforms, let’s briefly go over the use of every crypto financing website. While the crypto loans on BlockFi are just offered to U.S. citizens, the platform is likewise working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler offers some of the most innovative services amongst the crypto lending platforms.
currencies on which you have the ability to earn interest. YouHodler allows you to exchange between various currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit quantities are extremely low, so you don’t require to move numerous Euros or Dollars to test the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can only make interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also uses you the option to borrow fiat money in exchange for collateral. The platform presently 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 two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the performance of those functions surpasses 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 likewise using its utility tokens to use better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals monthly. Likewise if you decide to stake your coins or fiat, implying you lock your properties for a defined term, you can get a greater rate of interest. Like BlockFi, Nexo likewise offers you to buy, or exchange crypto if you wish to hold your assets in numerous currencies. Now you have a really strong concept of what every crypto lending platform is providing. What you need to consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your private secrets anymore and your properties may get compromised 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 really clear about the truth that you Youhodler Eurs
quit your ownership of the assets as long as you hold them in the platform’s wallet. The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. That’s the best method to keep your cryptos safe. The drawback of this technique 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, as with any investment, it constantly comes down to the threat and return and your danger profile. So based upon our in-depth contrast, let’s take a look at our independent scores of every classification for every single platform. Note, that we have appointed the ratings based upon our own research study. One represents the lowest score while 5 represent the greatest rating. Within the business model category.