Youhodler Hack 2021 – Crypto Loans

Yes so… Youhodler Hack…Many of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn 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 trustworthiness and performance history, usability of their apps and we will also discuss a few of the dangers that you should consider when transferring your crypto on among these platforms. We will likewise round up the comparison with our independent score of the just-mentioned categories for each platform. So keep watching up until the end to discover how we scored individual platforms. if you are brand-new to this channel and your goal is to become a more informed P2P financier

 

consider subscribing and struck the like button to see more material like this in the future. So let’s first provide you a quick intro to every platform prior to 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 overall, Celsius manages more than $17 B worth of properties. The platform offers its services worldwide, nevertheless, they are presently not releasing loans in the United States due to local guidelines. BlockFi is the largest

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competitor to Celsius Network. The US-based company has trading and loaning licenses in different US states. If you are looking for a wealth-management app for your crypto assets BlockFi is definitely worth thinking about. The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto financing platform in Europe. The business is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers extremely competitive rates on your crypto assets in addition to several other features which you won’t discover on any other platforms. The platform is readily available in numerous nations with the exception of Germany and the U.S.A.. If you reside in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that uses crypto lovers the choice to earn interest not just on their coins however also fiat deposits. Nexo remains in truth, among only two, to us known, crypto lending platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. Now that you have a short summary of every platform

 

And the platform is likewise preparing to launch a BlockFi credit card which will create another income stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. 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 watching this video, you desire to make cash by transferring your coins on one of the platforms? Every platform has particular limitations 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 utility 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 provides greater 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 adjust the rates from time to time, so you can’t actually predict the real return from your deposits. Youhodler Hack

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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 financial report for 2020, where you will find out that the platform is not profitable. BlockFi is also financed by numerous institutional financiers and the platform is mainly targeting the US market. According to our research, it appears like he has actually transferred to Switzerland to release his crypto lending platform YouHodler in 2017.

 

deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have actually pointed out together with other warnings in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a steep growth even if we think about the buzz in the crypto area. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian politician with experience in the fashion Retail industry. On his LinkedIn profile, he explains Nexo as the leading controlled banks for digital properties. I would be truly interested by whom Nexo is controlled, as the business does not have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance loan business 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 lending platform, which is understood for the “misuse of clients cash”. When evaluating some 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 examined some of the track records of the 4 mentioned platforms, let’s briefly go over the use of every crypto loaning site. While the crypto loans on BlockFi are only readily available to U.S. people, the platform is likewise working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler provides some of the most innovative services among the crypto financing platforms.

 

YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have an actually strong concept of what every crypto lending platform is providing. What you must think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your private keys any longer and your possessions might get compromised either by 3rd celebrations or by the platform itself. Youhodler Hack

 

The only way to secure your crypto is to save 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 in-depth comparison, let’s have an appearance at our independent rankings of every classification for every platform.