Youhodler Overheid 2021 – Crypto Loans

Yes so… Youhodler Overheid…Many of you have asked for a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business design of specific platforms, the return rates, the trustworthiness and performance history, functionality of their apps and we will also talk about a few of the dangers that you need to think about when transferring your crypto on one of these platforms. We will likewise assemble the comparison with our independent ranking of the just-mentioned classifications for every platform. So keep watching up until the end to find out how we scored private platforms. If you are brand-new to this channel and your goal is to end up being a more educated P2P financier,

 

consider subscribing and hit the like button to see more content like this in the future. So let’s first provide you a brief introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform worldwide, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or make interest on their stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of assets. The platform uses its services worldwide, however, they are presently not providing loans in the United States due to local guidelines. BlockFi is the largest

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The platform provides crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of approved nations. Nexo is another European platform that provides crypto enthusiasts the choice to earn interest not just on their coins but also fiat deposits. Nexo is in reality, one of only two, to us known, crypto lending platforms that provide interest on fiat deposits.

 

And the platform is also planning to introduce 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 borrowers. That’s at least our analysis from Nexo’s company design as the platform doesn’t have A devoted section about

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this on their site. Now let’s discuss the returns. If you are watching this video, you desire to make money by transferring your coins on one of the platforms? Before we compare the rates, there are a few things that you ought to consider. When it comes to using interest on your coins, every platform has certain limitations and terms. So for instance, Celsius Network changes the rates each week to show the existing market circumstance. You are just able to earn greater rates if you choose to receive the interest in Celsius’s own energy token. The higher reward rates are also not available for US citizens. 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 upon the variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum ranges in between 0.5% and 4.5%, the rate for bitcoin is in between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

You can earn 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 greater rewards for those who want to get the interest in the native NEXO tokens instead of the deposited currency. What you should keep in mind is that platforms tend to adjust the rates from time to time, so you can’t truly forecast the genuine return from your deposits. Youhodler Overheid

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paid out more than $367 M worth of rewards. While we haven’t managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is resolving the most frequently asked questions, which is something rather unusual in this space. The platform is not transparent when it comes to sharing its monetary reports, but with a bit of digging, you can get your hands on the financial report for 2020, where you will discover that the platform is not profitable yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement space instead of the fintech space. BlockFi is also financed by many institutional investors and the platform is primarily targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are available Just for U.S citizens as BlockFi has the required lending licenses only in the U.S. If you want to examine BlockFi’s statistics you will not more than happy as there are none offered. Some external sources suggest that there are more than 125,000 registered users, nevertheless, we were unable to verify any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research study, it appears like he has actually relocated to Switzerland to release his crypto financing platform YouHodler in 2017. I know that YouHodler has actually been applauded by a few of you in the discuss previous videos, sadly, the platform isn’t openly exposing any monetary reports, nor stats about their user base or possessions under YouHodler’s management. This is something you need to certainly consider when using YouHodler. Moving on to Nexo. Nexo declares to handle $12 B worth of possessions from more than 1.5 M of users. If this is appropriate, it would mean that Nexo is two times as huge in terms of user base as Celsius with a much lower average

 

At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform claims to manage $12B from 1.5 M users, which we believe is a bit of a steep development even if we consider the hype in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our recent research study, the executive board doesn’t even consist of Antoli, however just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “misuse of clients money”.

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in the media, he is often only promoting crypto and anticipating rates but lacks any deeper insights into the crypto lending area or how Nexo is operating. That’s simply our impression from his Bloomberg talks. Also, Nexo is the only platform that uses interest on fiat. According to our understanding, you can not use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not legal representatives, we struggle to understand the legal setup under which Nexo is offering its services. Now that we have actually evaluated some of the track records of the 4 discussed platforms, let’s briefly go over the use of every crypto lending website. Celsius has actually begun as a native mobile app. The app is well developed and it comes with numerous security functions such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how lots of assets you are holding and what are the currently used rates. You can withdraw and move supported coins but there is no exchange, so if you don’t transfer your cryptos from another wallet, you can buy them straight through the app. Keep in mind, however, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital possessions. BlockiFi makes a less industrialized impression. The app is really simple therefore is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform likewise uses a devoted exchange so you can even trade them. We don’t recommend this feature that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just available to U.S. people, the platform is likewise working on a Bitcoin rewards credit card which will be taking on the charge card from Crypto.com YouHodler provides a few of the most innovative services amongst the crypto financing platforms. Presently, the platform supports 18 digital

 

currencies on which you are able to earn interest. YouHodler enables you to exchange in between various currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit amounts are very low, so you do not require to move numerous Euros or Dollars to check 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 earn interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise offers you the alternative to borrow fiat money in exchange for security. The platform currently supports only loans in us dollars or euros. YouHodler is likewise among the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also provides two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the performance of those features goes beyond this video, you can learn how it works in our dedicated youhodler review on p2pempire. Nexo’s use resembles Celsius Network. Nexo is also utilizing its energy tokens to offer much better rates on loans, greater interests on crypto and fiat deposits, or more totally free withdrawals each month. Also if you decide to stake your coins or fiat, implying you lock your possessions for a defined term, you can get a greater rates of interest. Like BlockFi, Nexo likewise offers you to buy, or exchange crypto if you want to hold your assets in various currencies. Now you have a really solid concept of what every crypto financing platform is providing. What you ought to think about though, is that as soon as you deposit your crypto on any platform, you are not owning your private keys anymore and your possessions might get jeopardized either by third parties or by the platform itself. It’s like depositing your crypto on the exchange – if you do not own the keys, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are very clear about the truth that you Youhodler Overheid

 

The only method to safeguard 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 only 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 contrast, let’s have a look at our independent scores of every category for every platform.