Yes so… Youhodler Transfer To Another Wallet…A lot of you have actually asked for a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business model of specific platforms, the return rates, the reliability and performance history, usability of their apps and we will also discuss a few of the risks that you must think about when transferring your crypto on one of these platforms. We will likewise round up the contrast with our independent rating of the just-mentioned classifications for every platform. So keep watching until completion to learn how we scored specific platforms. If you are brand-new to this channel and your goal is to end up being a more educated P2P investor,
think about subscribing and struck the like button to see more content like this in the future. Let’s first provide you a brief intro to every platform prior to we dive deeper into the comparison. 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 take a crypto loan or make interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of assets. The platform uses its services worldwide, however, they are currently not releasing loans in the United States due to local policies. BlockFi is the largest
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rival to Celsius Network. The US-based business has trading and financing licenses in different US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is certainly worth considering.. 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. YouHodler is most likely the most genuine crypto lending platform in Europe. The business is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers very competitive rates on your crypto assets along with numerous other functions which you won’t find on any other platforms. The platform is readily available in numerous nations with the exception of Germany and the USA. So if you reside in the states, you will not have the ability to use YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the alternative to make interest not only on their coins but likewise fiat deposits. Nexo remains in truth, among just two, to us understood, crypto financing platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick introduction of every platform
let’s talk about how they earn money in the first place. Celsius makes cash from the interest they charge to the debtors which are either retail debtors or organizations, they also make money from their CEL token which is an energy token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which suggests that Celsius uses the security from the debtors and deploys it in order to produce additional earnings. BlockFi is likewise earning money through the interest that is being charged to customers. The platform also charges a 2% origination fee for anybody 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 each month. And the platform is likewise preparing to release a BlockFi charge card which will produce another earnings stream. YouHodler is also generating income from the interest charged to borrowers. There is a small withdrawal cost and charges for additional services such as the Multi HODL tool, which is a function that lets you take advantage of your crypto assets in exchange for potential returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the debtors. Nexo likewise makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s company design as the platform does not have A dedicated section about
money fees on celsius services priced about stablecoins profit margin Youhodler Transfer To Another Wallet
If you are viewing this video, you want to make money by depositing 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.
9% annually. What’s worth mentioning is that if you wish to conserve some costs, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not require to pay the large gas fee, as the currency works on the Binance Smart Chain with way lower costs in contrast to stablecoins that work on the ethereum network. The Binance USD coin is presently just supported on Celsius Network and BlockFi. YouHodler uses presently the most competitive rates for your USDC coins without the need to stake the platform’s own energy tokens. 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 uses greater benefits for those who want to get the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you need to bear in mind is that platforms tend to change the rates from time to time, so you can’t actually forecast the genuine return from your deposits. Keep in mind that by depositing your crypto, the worth of the currency may decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. So now, that you know the returns let’s briefly review the credibility of the platforms and their performance history. Celsius Network is likely the most legitimate platform in this space. The founder Alex Mashinsky is a popular business owner. Prior to introducing the Celsius network, he has co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are also able to monitor the progress and examine some of the stats. As we are tape-recording this video, there are over 650,000 users and the platform is managing $17 billion worth of assets. Alone in the last 12 months, Celsius has Youhodler Transfer To Another Wallet
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deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have explained together with other red flags in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a high development even if we consider the buzz in the crypto space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian political leader with experience in the fashion Retail industry. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital properties. I would be really interested by whom Nexo is regulated, 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 however their legal address is no place to be found on the site. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that apparently is funding Nexo. According to our current research study, the executive board doesn’t even consist of Antoli, but just 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 “misuse of customers money”. Likewise when examining some of Nexo’s remarks from the CEO
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in the media, he is typically only promoting crypto and forecasting rates however does not have any much deeper insights into the crypto loaning area or how Nexo is running. That’s just our impression from his Bloomberg talks. Likewise, Nexo is the only platform that provides 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. Even though we are not lawyers, we have a hard time to comprehend the legal setup under which Nexo is offering its services. Now that we have reviewed some of the track records of the 4 discussed platforms, let’s briefly go over the functionality of every crypto loaning site. Celsius has begun as a native mobile app. The app is well established and it includes various security features such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you are able to see how many possessions you are holding and what are the currently provided rates. You can move and withdraw supported coins however there is no exchange, so if you do not deposit your cryptos from another wallet, you can buy them straight 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 possessions. BlockiFi makes a less industrialized impression. The app is very simple therefore is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform also offers a dedicated exchange so you can even trade them. We do not recommend this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are only available to U.S. residents, the platform is also dealing with a Bitcoin rewards charge card which will be competing with the credit card from Crypto.com YouHodler uses some of the most advanced services among the crypto lending platforms. Currently, the platform supports 18 digital
YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have a truly strong idea of what every crypto loaning platform is using. What you need to consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys anymore and your assets may get compromised either by 3rd parties or by the platform itself. Youhodler Transfer To Another Wallet
quit your ownership of the possessions as long as you hold them in the platform’s wallet. The only way to secure 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 method is that you will just gain 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. But, as with any financial investment, it always comes down to the threat and return and your threat profile. So based on our in-depth comparison, let’s take a look at our independent ratings of every category for each platform. Note, that we have designated the rankings based on our own research study. One represents the lowest ranking while five mean the greatest rating. Within business model classification.