Yes so… Youhodler Exchange Fees…A lot of you have asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business model of private platforms, the return rates, the reliability and track record, usability of their apps and we will also talk about some of the dangers that you should think about when depositing your crypto on among these platforms. We will also assemble the contrast with our independent rating of the just-mentioned classifications for every platform. So keep watching until the end to discover how we scored individual platforms. if you are brand-new to this channel and your objective is to become a more informed P2P investor
Let’s first provide you a quick intro to every platform before 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 releasing loans in the United States due to local regulations.
youhodler crypto interest loans, platform for users
The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned nations. Nexo is another European platform that provides crypto lovers the alternative to earn interest not only on their coins however likewise fiat deposits. Nexo is in fact, one of just 2, to us known, crypto financing platforms that provide interest on fiat deposits.
let’s discuss how they make money in the first place. Celsius makes cash from the interest they charge to the borrowers which are either retail customers or organizations, they likewise make money from their CEL token which is an energy token that you can use to increase your benefits on Celsius Network. Another income stream is the rehypothecation which indicates that Celsius uses the collateral from the debtors and deploys it in order to produce extra income. BlockFi is also making money through the interest that is being charged to borrowers. The platform also charges a 2% origination cost for anyone who wants to take a loan. Another earnings stream is BlockFi’s exchange feature. The platform makes money from the spread when exchanging currencies. BlockFi likewise charges withdrawal charges after your one free withdrawal per month. And the platform is also preparing to launch a BlockFi charge card which will create another income stream. YouHodler is likewise earning money from the interest credited debtors. In addition to that, there is a little withdrawal fee and fees for additional services such as the Multi HODL tool, which is a function 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 also makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s company model as the platform doesn’t have A devoted section about
money fees on celsius services priced about stablecoins profit margin Youhodler Exchange Fees
this on their website. Now let’s discuss the returns. If you are seeing this video, you want to make money by depositing your coins on one of the platforms right? Before we compare the rates, there are a couple of things that you need to think about however. Every platform has certain limits and terms when it pertains to providing interest on your coins. For example, Celsius Network alters the rates every week to show the current market circumstance. Likewise, you are only able to earn higher rates if you choose to receive the interest in Celsius’s own utility token. The higher benefit rates are also not available for United States residents. If you would not want to pay out your rewards in the CEL token, you can presently expect to get 5.05% on your Ethereum, 3.51% on your Bitcoin, and 10% interest on your deposits in Binance USD or USDC which is the stablecoin from Coinbase. On BlockFi, the rate for your Ethereum and Bitcoin deposits depends on the number of your properties. The more bitcoin or ethereum you deposit, the less interest you will get. The rate of interest for Ethereum ranges between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is currently at
You can earn 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 provides greater benefits 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 adjust the rates from time to time, so you can’t really anticipate the real return from your deposits. Youhodler Exchange Fees
bitcoin amount of lending service with value feature trading
deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting standards as we have actually pointed out together with other red flags in our previous video. At the start of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a high development even if we consider the buzz 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 political leader with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading regulated financial institution for digital assets. I would be really interested by whom Nexo is regulated, as the business does not have a lending license in Estonia, where they are a legal entity Nexo Provider OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be found on the website. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance loan company that apparently is financing Nexo. According to our current research, the executive board doesn’t even include Antoli, however only Kosta and 2 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 evaluating some of Nexo’s comments from the CEO
turbocharge stablecoins crypto assets coins investment profile
in the media, he is typically only promoting crypto and anticipating costs however does not have any much deeper insights into the crypto lending area or how Nexo is operating. That’s just our impression from his Bloomberg talks. Likewise, 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. Although we are not attorneys, we have a hard time to comprehend the legal setup under which Nexo is offering its services. So now that we have examined some of the performance history of the four discussed platforms, let’s briefly go over the use of every crypto financing site. Celsius has actually begun as a native mobile app. The app is well established and it comes with various security functions such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see how many possessions you are holding and what are the presently used rates. You can move and withdraw supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can purchase them directly through the app. Keep in mind, however, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital properties. BlockiFi makes a less developed impression. The app is extremely easy and so is the desktop version of the platform. BlockFi supports currently just 10 digital currencies. The platform also offers a devoted exchange so you can even trade them. We don’t recommend this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are just readily available to U.S. residents, the platform is also dealing with a Bitcoin rewards credit card which will be taking on the credit card from Crypto.com YouHodler offers a few of the most advanced services amongst the crypto lending platforms. Currently, the platform supports 18 digital
YouHodler is also one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly solid concept of what every crypto loaning platform is using. What you must consider though, is that as soon as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your possessions may get jeopardized either by third parties or by the platform itself. Youhodler Exchange Fees
The only way to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside of this technique is that you will just 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 financing platforms. Based on our extensive comparison, let’s have an appearance at our independent rankings of every category for every platform.