Keyword 2022 – Now FAQ

Looking for Keyword…A lot of you have requested a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing business design of private platforms, the return rates, the trustworthiness and performance history, use of their apps and we will likewise speak about a few of the threats that you should consider when transferring your crypto on one of these platforms. We will likewise assemble the contrast with our independent score of the just-mentioned classifications for every single platform. So keep watching till the end to find out how we scored private platforms. if you are new to this channel and your objective is to end up being a more educated P2P investor

 

Let’s very first give you a short introduction to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. The platform uses its services worldwide, however, they are presently not releasing loans in the United States due to regional guidelines.

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rival to Celsius Network. The US-based business has trading and loaning licenses in different US states. If you are searching for a wealth-management app for your crypto possessions BlockFi is definitely 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 likely the most legitimate crypto financing platform in Europe. The company is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler offers very competitive rates on your crypto possessions along with a number of other features which you will not discover on any other platforms. The platform is readily available in numerous countries with the exception of Germany and the USA. So if you reside in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto lovers the alternative to earn interest not only on their coins but likewise fiat deposits. Nexo remains in truth, among just 2, to us known, crypto lending platforms that provide interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief summary of every platform

 

let’s discuss how they generate income in the first place. So Celsius generates income from the interest they credit the borrowers which are either retail borrowers or institutions, they also earn money from their CEL token which is an utility token that you can use to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which means that Celsius uses the security from the customers and deploys it in order to generate additional earnings. BlockFi is also earning money through the interest that is being credited customers. In addition to that, the platform also charges a 2% origination cost for anybody who wishes to take a loan. Another earnings stream is BlockFi’s exchange function. The platform makes money from the spread when exchanging currencies. BlockFi likewise charges withdrawal charges after your one free withdrawal per month. And the platform is also preparing to introduce a BlockFi charge card which will generate another earnings stream. YouHodler is likewise making money from the interest charged to customers. In addition to that, there is a small withdrawal fee and fees for additional services such as the Multi HODL tool, which is a feature that lets you take advantage of your crypto possessions 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 business design as the platform doesn’t have A devoted section about

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If you are enjoying this video, you desire to make money by depositing your coins on one of the platforms? Every platform has specific limits and terms when it comes to using interest on your coins. You are just able to make higher 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 greater rewards for those who want to receive 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. Keyword

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The platform is not transparent when it comes to sharing its monetary reports, however 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 likewise financed by numerous institutional financiers and the platform is generally targeting the US market. According to our research, it seems like he has actually moved to Switzerland to introduce his crypto lending platform YouHodler in 2017.

 

deposit amount as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting standards as we have actually explained together with other warnings in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the buzz in the crypto space. 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 describes Nexo as the leading managed banks for digital assets. I would be truly interested by whom Nexo is regulated, as the company does not have a lending license in Estonia, where they are a legal entity Nexo Solutions OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance loan business that apparently is funding Nexo. According to our current research, the executive board doesn’t even include Antoli, but only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p financing platform, which is known for the “misuse of clients money”. Also when reviewing a few of Nexo’s remarks from the CEO

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in the media, he is frequently only promoting crypto and forecasting rates however does not have any deeper insights into the crypto loaning area or how Nexo is operating. That’s simply our impression from his Bloomberg talks. Likewise, Nexo is the only platform that uses 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 offering its services. Now that we have actually examined some of the track records of the four discussed platforms, let’s briefly go over the functionality of every crypto lending website. Celsius has actually started 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. In the control panel, you are able to see how lots of assets you are holding and what are the presently used rates. You can move and withdraw supported coins but there is no exchange, so if you do not transfer your cryptos from another wallet, you can acquire them straight through the app. Note, nevertheless, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less developed impression. The app is very basic and so is the desktop variation of the platform. BlockFi supports currently just 10 digital currencies. The platform likewise provides a dedicated exchange so you can even trade them. We do not recommend this function that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are only available to U.S. residents, the platform is also working on a Bitcoin rewards charge card which will be competing with the charge card from Crypto.com YouHodler uses a few of the most sophisticated services among the crypto financing platforms. Presently, 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 concept of what every crypto loaning platform is using. What you should think about however, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your possessions may get jeopardized either by third parties or by the platform itself. Keyword

 

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 method to keep your cryptos safe. The drawback of this strategy is that you will only take advantage of the increased value of your coin however not the interest on your deposits, which is something you can do on among the crypto loaning platforms. However, just like any investment, it constantly comes down to the danger and return and your danger profile. Based on our extensive comparison, let’s have a look at our independent ratings of every classification for every platform. Keep in mind, that we have actually appointed the rankings based on our own research. One represents the most affordable score while 5 represent the highest ranking. Within the business design category.