Youhodler White Paper 2021 – Crypto Loans

Yes so… Youhodler White Paper…Many of you have actually asked for a comparison 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 business model of individual platforms, the return rates, the credibility and track record, use of their apps and we will likewise speak about a few of the dangers that you must consider when transferring your crypto on one of these platforms. We will likewise assemble the contrast with our independent ranking of the just-mentioned classifications for each platform. So keep watching up until the end to find out how we scored specific platforms. if you are new to this channel and your objective is to end up being a more informed P2P investor

 

think about subscribing and hit the like button to see more content like this in the future. So let’s very first offer you a quick introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform worldwide, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In total, Celsius handles more than $17 B worth of assets. The platform offers its services worldwide, however, they are presently not providing loans in the United States due to local guidelines. BlockFi is the biggest

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rival to Celsius Network. The US-based business has trading and lending licenses in numerous US states. If you are looking for a wealth-management app for your crypto assets BlockFi is certainly worth thinking about. The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned nations. YouHodler is likely the most genuine crypto loaning platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers extremely competitive rates on your crypto properties in addition to several other features which you won’t find on any other platforms. The platform is available in lots of countries with the exception of Germany and the USA. If you reside in the states, you won’t be able to utilize YouHodler’s services. Nexo is another European platform that offers crypto enthusiasts the option to earn interest not just on their coins however likewise fiat deposits. Nexo is in fact, one of just 2, to us known, crypto financing platforms that provide interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. Now that you have a quick overview of every platform

 

let’s talk about how they make money in the first place. So Celsius earns money from the interest they charge to the customers which are either retail debtors or institutions, they likewise earn money from their CEL token which is an utility token that you can use to increase your benefits on Celsius Network. Another income stream is the rehypothecation which suggests that Celsius utilizes the collateral from the customers and deploys it in order to produce additional earnings. BlockFi is also generating income through the interest that is being charged to borrowers. The platform likewise charges a 2% origination charge for anyone 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 complimentary withdrawal per month. And the platform is also preparing to launch a BlockFi credit card which will create another earnings stream. YouHodler is also making money from the interest credited customers. There is a small withdrawal cost and costs for additional services such as the Multi HODL tool, which is a function that lets you take advantage of 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 customers. Nexo also makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s business model as the platform doesn’t have A dedicated area about

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If you are viewing this video, you desire to make money by depositing your coins on one of the platforms? Every platform has particular limitations and terms when it comes to using interest on your coins. You are only able to earn greater rates if you decide to receive the interest in Celsius’s own utility token.

 

9% per year. What’s worth pointing out is that if you wish to save some charges, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not need to pay the significant gas cost, as the currency runs on the Binance Smart Chain with method lower charges in contrast to stablecoins that operate on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler uses currently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. You can make 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 rewards for those who want 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 need to bear in mind is that platforms tend to change the rates from time to time, so you can’t really forecast the real return from your deposits. Also, remember that by depositing your crypto, the worth of the currency may decrease Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. So now, that you are aware of the returns let’s briefly review the reliability 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 entrepreneur. Prior to releasing the Celsius network, he has actually co-founded 3 start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the development and review some of the data. As we are tape-recording this video, there are over 650,000 users and the platform is handling $17 billion worth of assets. Alone in the last 12 months, Celsius has Youhodler White Paper

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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 unusual 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 successful. 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 space. BlockFi is also financed by lots of institutional investors and the platform is primarily targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are offered Only for U.S residents as BlockFi has the required loaning licenses just in the U.S. , if you want to inspect BlockFi’s stats you won’t be pleased as there are none available.. Some external sources recommend that there are more than 125,000 registered users, nevertheless, we were not able to verify 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 study, it looks like he has moved to Switzerland to launch his crypto financing platform YouHodler in 2017. I understand that YouHodler has actually been applauded by some of you in the discuss previous videos, sadly, the platform isn’t publicly revealing any monetary reports, nor stats about their user base or properties under YouHodler’s management. This is something you ought to definitely consider when utilizing YouHodler. Proceeding to Nexo. Nexo claims to handle $12 B worth of properties from more than 1.5 M of users. If this is right, it would indicate that Nexo is twice as big in terms of user base as Celsius with a much lower average

 

At the beginning of January, Nexo had just $4B under its management from 1 M users, now 5 months later, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the hype in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that obviously is financing Nexo. According to our recent research study, the executive board doesn’t even consist of Antoli, however just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is understood for the “abuse of clients cash”.

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in the media, he is frequently only promoting crypto and predicting costs however does not have any deeper insights into the crypto loaning area or how Nexo is running. However that’s just our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our knowledge, you can not use interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Even though we are not lawyers, we have a hard time to understand the legal setup under which Nexo is providing its services. So now that we have actually reviewed some of the performance history of the four mentioned platforms, let’s briefly review the functionality of every crypto lending site. Celsius has started as a native mobile app. The app is well developed and it features numerous security functions such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how lots of properties you are holding and what are the currently offered rates. You can withdraw and transfer supported coins but there is no exchange, so if you do not transfer your cryptos from another wallet, you can purchase them straight through the app. Keep in mind, nevertheless, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less developed impression. The app is really simple therefore is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform likewise provides a dedicated exchange so you can even trade them. We do not advise this function that much as the exchange rates are not the very best. While the crypto loans on BlockFi are just available to U.S. citizens, the platform is likewise dealing with a Bitcoin rewards credit card which will be competing with the charge card from Crypto.com YouHodler provides a few of the most innovative services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a truly solid idea of what every crypto loaning platform is offering. What you ought to think about however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal secrets anymore and your properties might get compromised either by third parties or by the platform itself. Youhodler White Paper

 

The only way to protect your crypto is to keep it on a devoted hardware wallet like this one from Trezor. The downside of this strategy is that you will just 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 financing platforms. Based on our extensive contrast, let’s have a look at our independent rankings of every category for every platform.