Yes so… Youhodler Wallet Italiano…Numerous of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the company model of individual platforms, the return rates, the reliability and track record, functionality of their apps and we will also talk about some of the risks that you should think about when depositing your crypto on one of these platforms.
Let’s very first give you a quick introduction 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 established in 2017 by Alex Mashinsky. The platform offers its services worldwide, however, they are presently not issuing loans in the United States due to regional policies.
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competitor 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 possessions BlockFi is definitely worth thinking about.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned countries. YouHodler is likely the most legitimate crypto lending platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers extremely competitive rates on your crypto assets in addition to several other functions which you won’t find on any other platforms. The platform is readily available in numerous countries with the exception of Germany and the USA. If you live in the states, you won’t be able to utilize YouHodler’s services. Nexo is another European platform that offers crypto lovers the option to make interest not only on their coins but also fiat deposits. Nexo is in reality, among only two, to us known, crypto financing platforms that provide interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. So now that you have a brief overview of every platform
let’s speak about how they earn money in the first place. So Celsius generates income from the interest they credit the debtors which are either retail borrowers or organizations, they also earn money from their CEL token which is an energy token that you can use to increase your benefits on Celsius Network. Another income stream is the rehypothecation which suggests that Celsius uses the collateral from the customers and deploys it in order to generate extra income. BlockFi is likewise making money through the interest that is being credited debtors. In addition to that, the platform also charges a 2% origination cost for anyone who wants to take a loan. Another income stream is BlockFi’s exchange feature. The platform generates income from the spread when exchanging currencies. BlockFi also charges withdrawal costs after your one complimentary withdrawal each month. And the platform is likewise planning to launch a BlockFi charge card which will create another income stream. YouHodler is likewise making money from the interest credited debtors. In addition to that, there is a little withdrawal cost and fees for additional services such as the Multi HODL tool, which is a feature that lets you leverage your crypto properties in exchange for potential returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. Nexo also makes earnings with their Nexo token. That’s at least our analysis from Nexo’s organization model as the platform doesn’t have A dedicated section about
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If you are seeing this video, you want to make money by depositing your coins on one of the platforms? Every platform has particular limitations and terms when it comes to offering interest on your coins. You are only able to make greater rates if you choose to get the interest in Celsius’s own utility token.
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 provides higher benefits for those who desire 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 change the rates from time to time, so you can’t really anticipate the genuine return from your deposits. Youhodler Wallet Italiano
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The platform is not transparent when it comes to sharing its monetary reports, but with a little bit of digging, you can get your hands on the monetary report for 2020, where you will find out that the platform is not rewarding. BlockFi is likewise funded by lots of institutional investors and the platform is generally targeting the United States market. According to our research study, it appears like he has moved to Switzerland to introduce his crypto financing platform YouHodler in 2017.
deposit quantity as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have mentioned together with other red flags in our previous video. Likewise, at the start of January, Nexo had only $4B under its management from 1 M users, now five months later on, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep growth even if we think about the buzz in the crypto space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research, Antoni was a Bulgarian political leader with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled banks for digital assets. I would be really interested by whom Nexo is regulated, as the business doesn’t have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance company that apparently is funding Nexo. According to our recent research, the executive board doesn’t even include 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 lending platform, which is understood for the “abuse of customers cash”. Also when reviewing a few of Nexo’s comments from the CEO
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Nexo is the only platform that offers interest on fiat. Now that we have evaluated some of the track records of the 4 pointed out platforms, let’s briefly go over the usability of every crypto lending site. While the crypto loans on BlockFi are only available to U.S. people, the platform is also working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler uses some of the most advanced services amongst the crypto loaning platforms.
YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have an actually solid concept of what every crypto lending platform is offering. What you should think about however, is that as soon as you deposit your crypto on any platform, you are not owning your personal keys anymore and your assets may get jeopardized either by third parties or by the platform itself. Youhodler Wallet Italiano
The only method to secure your crypto is to keep it on a devoted hardware wallet like this one from Trezor. The drawback 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 loaning platforms. Based on our extensive comparison, let’s have an appearance at our independent ratings of every category for every platform.