Youhodler Trust 2021 – Crypto Loans

Yes so… Youhodler Trust…Many of you have requested 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 the business model of specific platforms, the return rates, the trustworthiness and track record, usability of their apps and we will likewise talk about some of the risks that you need to consider when transferring your crypto on one of these platforms.

 

Let’s first offer you a brief intro to every platform before 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. The platform uses its services worldwide, nevertheless, they are currently not releasing loans in the United States due to local regulations.

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The platform offers 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 uses crypto enthusiasts the alternative to make interest not just on their coins however likewise fiat deposits. Nexo is in truth, one of just two, to us known, crypto loaning platforms that provide interest on fiat deposits.

 

And the platform is likewise preparing to launch a BlockFi credit card which will create another earnings 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 interpretation from Nexo’s organization design as the platform does not have A devoted section about

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this on their website. Now let’s talk about the returns. If you are watching this video, you want to make money by transferring your coins on one of the platforms right? Before we compare the rates, there are a few things that you should consider. When it comes to using interest on your coins, every platform has specific limits and terms. For example, Celsius Network changes the rates every week to reflect the existing market situation. You are only able to earn higher rates if you choose to receive the interest in Celsius’s own utility token. The higher reward rates are also not available for US residents. If you would not wish to pay your benefits in the CEL token, you can currently anticipate 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 varieties 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

 

9% each year. What deserves pointing out is that if you wish to save some costs, and bring more stability into your crypto interest account, you can also deposit the Binance USD coin for which you will not need to pay the substantial gas cost, as the currency operates on the Binance Smart Chain with way lower fees in comparison to stablecoins that run on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler offers currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility tokens. 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 uses greater benefits for those who want to get the interest in the native NEXO tokens instead of the deposited currency. The platform offers 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you should 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. Keep in mind that by depositing your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. Now, that you are aware of the returns let’s briefly evaluation the credibility of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The founder Alex Mashinsky is a popular entrepreneur. 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 keep an eye on the progress and review some of the statistics. As we are taping 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 Trust

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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 financial report for 2020, where you will find out that the platform is not lucrative. BlockFi is likewise financed by lots of institutional investors and the platform is mainly targeting the US market. According to our research study, it seems like he has actually relocated to Switzerland to introduce his crypto loaning platform YouHodler in 2017.

 

At the start of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a steep development even if we think about the buzz in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our current research, the executive board doesn’t even consist of Antoli, but only Kosta and two 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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in the media, he is often only promoting crypto and forecasting rates but does not have any deeper insights into the crypto loaning space or how Nexo is operating. However that’s simply our impression from his Bloomberg talks. Also, Nexo is the only platform that provides interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not lawyers, we have a hard time to comprehend the legal setup under which Nexo is using its services. Now that we have actually examined some of the track records of the 4 discussed platforms, let’s briefly go over the use of every crypto loaning website. Celsius has begun as a native mobile app. The app is well developed and it comes with different security functions such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how lots of assets you are holding and what are the presently provided rates. You can withdraw and transfer supported coins however there is no exchange, so if you do not deposit your cryptos from another wallet, you can buy them directly through the app. Note, nevertheless, that there might be charges for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital possessions. BlockiFi makes a less industrialized impression. The app is really basic and so is the desktop variation of the platform. BlockFi supports currently only 10 digital currencies. The platform also provides a dedicated exchange so you can even trade them. We do not suggest this feature that much as the currency exchange rate are not the very best. While the crypto loans on BlockFi are only readily available to U.S. citizens, the platform is likewise dealing with a Bitcoin benefits charge card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most sophisticated services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

currencies on which you are able to make interest. YouHodler allows you to exchange in between numerous currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit amounts are really low, so you don’t require to transfer hundreds of Euros or Dollars to evaluate 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 properties. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise offers you the alternative to obtain fiat money in exchange for security. The platform presently supports just loans in us euros or dollars. YouHodler is also among the platforms with versatile loan terms and a maximum LTV of 90%. Apart from those services, YouHodler likewise uses 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the performance of those features exceeds this video, you can discover how it operates in our dedicated youhodler evaluation on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is also utilizing its energy tokens to use better rates on loans, higher interests on crypto and fiat deposits, or more complimentary withdrawals each month. Also if you decide to stake your coins or fiat, implying you lock your assets for a defined term, you can get a higher rate of interest. Like BlockFi, Nexo also uses you to buy, or exchange crypto if you wish to hold your possessions in various currencies. Now you have an actually strong idea of what every crypto lending platform is offering. What you ought to think about though, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys anymore and your possessions may get jeopardized either by 3rd parties or by the platform itself. It’s like depositing your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the reality that you Youhodler Trust

 

give up your ownership of the properties as long as you hold them in the platform’s wallet. The only way to safeguard your crypto is to save it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The disadvantage of this technique is that you will just take advantage of the increased value of your coin however not the interest on your deposits, which is something you can do on one of the crypto lending platforms. But, similar to any investment, it constantly boils down to the threat and return and your threat profile. So based upon our thorough contrast, let’s have a look at our independent rankings of every classification for every single platform. Note, that we have designated the rankings based upon our own research. One represents the lowest ranking while 5 mean the highest ranking. Within business design classification.