Yes so… Youhodler Vs Salt…A lot 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 requested, in this video, we will be comparing the business model of private platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will likewise discuss a few of the dangers that you must consider when transferring your crypto on among these platforms. We will likewise round up the contrast with our independent rating of the just-mentioned categories for each platform. So keep watching up until the end to find out how we scored specific platforms. if you are brand-new to this channel and your goal is to end up being a more informed P2P financier
consider subscribing and struck the like button to see more content like this in the future. So let’s first offer you a brief intro to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform worldwide, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users using Celsius Network to take a crypto loan or make interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of properties. The platform offers its services worldwide, however, they are currently not releasing loans in the United States due to local policies. BlockFi is the biggest
youhodler crypto interest loans, platform for users
competitor to Celsius Network. The US-based business has trading and loaning licenses in numerous US states. , if you are looking for a wealth-management app for your crypto properties BlockFi is certainly worth thinking about.. The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned countries. YouHodler is most likely the most genuine crypto loaning platform in Europe. The company is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers very competitive rates on your crypto possessions in addition to several other features which you won’t discover on any other platforms. The platform is offered in numerous nations with the exception of Germany and the USA. If you live in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the option to make interest not only on their coins however also fiat deposits. Nexo is in truth, among only two, to us understood, crypto financing platforms that use interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a short introduction of every platform
let’s talk about how they make money in the first place. Celsius makes cash from the interest they charge to the borrowers which are either retail customers or institutions, they also make money from their CEL token which is an energy token that you can use to increase your rewards on Celsius Network. Another income stream is the rehypothecation which implies that Celsius uses the collateral from the borrowers and deploys it in order to generate extra earnings. BlockFi is also making money through the interest that is being charged to borrowers. In addition to that, the platform also charges a 2% origination charge for anyone who wishes to take a loan. Another earnings stream is BlockFi’s exchange function. The platform earns money from the spread when exchanging currencies. BlockFi likewise charges withdrawal charges after your one totally free withdrawal monthly. And the platform is also planning to launch a BlockFi credit card which will create another income stream. YouHodler is also earning money from the interest charged to debtors. There is a little withdrawal charge and costs for extra services such as the Multi HODL tool, which is a function that lets you leverage your crypto properties in exchange for potential returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. Nexo likewise makes profits with their Nexo token. That’s at least our analysis from Nexo’s business model as the platform does not have A dedicated area about
money fees on celsius services priced about stablecoins profit margin Youhodler Vs Salt
this on their site. Now let’s speak about the returns. If you are seeing this video, you wish to earn money by depositing your coins on among the platforms right? Before we compare the rates, there are a few things that you need to consider however. Every platform has particular limits and terms when it pertains to providing interest on your coins. So for instance, Celsius Network alters the rates weekly to show the current market situation. Likewise, you are only able to make greater rates if you decide to receive the interest in Celsius’s own utility token. The higher reward rates are likewise not 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 variety of your assets. 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 currently at
9% per year. What deserves mentioning is that if you want to conserve some charges, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not need to pay the hefty gas cost, as the currency works on the Binance Smart Chain with way lower charges in contrast to stablecoins that work on the ethereum network. The Binance USD coin is currently only 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 utility tokens. You can make 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 offers higher rewards for those who wish to receive 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 adjust the rates from time to time, so you can’t actually predict the genuine return from your deposits. Keep in mind that by transferring 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 are aware of the returns let’s briefly evaluation the credibility of the platforms and their performance history. Celsius Network is most likely the most legitimate platform in this space. The founder Alex Mashinsky is a widely known business owner. Before launching the Celsius network, he has actually co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the progress and examine a few of the data. As we are tape-recording this video, there are over 650,000 users and the platform is managing $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Vs Salt
bitcoin amount of lending service with value feature trading
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 start 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 believe is a bit of a steep growth even if we think about the buzz in the crypto area. 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 regulated banks for digital possessions. I would be truly interested by whom Nexo is managed, as the business doesn’t have a loaning 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 nowhere to be found on the site. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance loan business that apparently is financing Nexo. According to our recent research study, the executive board does not even include Antoli, but 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 cash”. When examining some of Nexo’s comments from the CEO
turbocharge stablecoins crypto assets coins investment profile
Nexo is the only platform that uses interest on fiat. Now that we have actually reviewed some of the track records of the 4 mentioned platforms, let’s briefly go over the use of every crypto financing website. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is also working on a Bitcoin rewards credit card which will be completing with the credit card from Crypto.com YouHodler uses some of the most innovative services amongst 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 should think about though, is that as soon as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your properties might get jeopardized either by 3rd celebrations or by the platform itself. Youhodler Vs Salt
The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this method is that you will just benefit from the increased worth of your coin but not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our thorough comparison, let’s have a look at our independent ratings of every classification for every platform.