Youhodler Review 2021 – Crypto Loans

Yes so… Youhodler Review…Many of you have actually asked for a contrast 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 business model of private platforms, the return rates, the credibility and track record, functionality of their apps and we will likewise talk about a few of the threats that you need to think about when transferring your crypto on one of these platforms. We will also assemble the comparison with our independent rating of the just-mentioned categories for every single platform. So keep watching till completion to discover how we scored specific platforms. if you are new to this channel and your goal is to end up being a more informed P2P financier

 

Let’s very first give you a quick introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto loaning platform in the world, which was established in 2017 by Alex Mashinsky. The platform offers its services worldwide, nevertheless, they are currently not releasing loans in the United States due to regional policies.

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competitor to Celsius Network. The US-based company has trading and loaning licenses in various US states. If you are trying to find a wealth-management app for your crypto properties BlockFi is certainly worth considering. The platform offers crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved countries. YouHodler is most likely the most legitimate crypto lending platform in Europe. The company is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler provides extremely competitive rates on your crypto properties in addition to a number of other features which you won’t discover on any other platforms. The platform is available in many nations with the exception of Germany and the USA. 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 but also fiat deposits. Nexo is in reality, among just two, to us known, crypto financing 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 produce 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 company model as the platform doesn’t have A dedicated section about

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this on their site. Now let’s talk about the returns. If you are watching this video, you desire to make cash by transferring your coins on one of the platforms? Before we compare the rates, there are a couple of things that you must consider. Every platform has certain limits and terms when it comes to offering interest on your coins. For example, Celsius Network alters the rates every week to reflect the existing market scenario. You are only able to make greater rates if you choose to get the interest in Celsius’s own utility token. The greater benefit rates are likewise not readily available for US citizens. If you would not want to pay your benefits in the CEL token, you can currently anticipate to receive 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 possessions. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum varieties between 0.5% and 4.5%, the rate for bitcoin is 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 offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides higher rewards for those who want to receive the interest in the native NEXO tokens instead 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 truly anticipate the genuine return from your deposits. Youhodler Review

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paid 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 dealing with the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it comes to sharing its financial reports, but with a little bit of digging, you can get your hands on the monetary report for 2020, where you will discover out that the platform is not lucrative. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement space rather than the fintech area. BlockFi is likewise funded by numerous institutional investors and the platform is mainly targeting the United States market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Only for U.S people as BlockFi has the required financing licenses just in the U.S. If you wish to examine BlockFi’s statistics you will not more than happy as there are none available. Some external sources recommend that there are more than 125,000 signed up users, nevertheless, we were unable to confirm any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research, it seems like he has moved to Switzerland to introduce his crypto loaning platform YouHodler in 2017. I know that YouHodler has been applauded by a few of you in the discuss previous videos, sadly, the platform isn’t publicly revealing any monetary reports, nor statistics about their user base or properties under YouHodler’s management. This is something you need to certainly consider when utilizing YouHodler. Proceeding to Nexo. Nexo claims to handle $12 B worth of assets from more than 1.5 M of users. It would suggest that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is proper

 

At the beginning of January, Nexo had only $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 think is a bit of a steep development even if we consider the hype in the crypto space. The second co-founder of Nexo is Kosta Kantchev who likewise 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, but only Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “abuse of clients money”.

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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 website. While the crypto loans on BlockFi are only readily available to U.S. people, the platform is likewise working on a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler uses some of the most sophisticated services amongst the crypto financing platforms.

 

currencies on which you are able to earn interest. YouHodler enables you to exchange between different 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 transfer numerous Dollars or euros to evaluate the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can just make interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise provides you the choice to borrow fiat money in exchange for collateral. The platform currently supports just loans in us dollars or euros. YouHodler is also among the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also offers 2 leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those functions surpasses this video, you can discover how it works in our dedicated youhodler review on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is likewise using its energy tokens to use much better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals per month. Also if you choose to stake your coins or fiat, indicating you lock your assets for a defined term, you can get a higher interest rate. Like BlockFi, Nexo also provides you to purchase, or exchange crypto if you wish to hold your possessions in different currencies. Now you have a truly strong concept of what every crypto loaning platform is using. What you ought to consider though, is that as soon as you transfer your crypto on any platform, you are not owning your private secrets anymore and your assets may get compromised either by 3rd 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 Review

 

The only way to secure your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy 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 loaning platforms. Based on our in-depth contrast, let’s have an appearance at our independent scores of every category for every platform.