Reddit Youhodler 2022 – Now FAQ

Looking for Reddit Youhodler…Much of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business design of specific platforms, the return rates, the trustworthiness and performance history, use of their apps and we will also talk about a few of the dangers that you need to think about when transferring your crypto on among these platforms. We will also round up the contrast with our independent score of the just-mentioned classifications for each platform. So keep watching until the end to find out how we scored individual platforms. If you are brand-new to this channel and your goal is to become a more educated P2P investor,

 

Let’s very first give you a short intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. The platform offers its services worldwide, however, they are presently not releasing loans in the United States due to local policies.

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competitor 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 properties BlockFi is certainly worth considering.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of approved nations. YouHodler is likely the most legitimate crypto lending platform in Europe. The company is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers extremely competitive rates on your crypto assets in addition to several other features which you won’t find on any other platforms. The platform is available in lots of 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 provides crypto enthusiasts the choice to make interest not just on their coins but likewise fiat deposits. Nexo remains in truth, among only 2, to us understood, crypto lending 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 summary of every platform

 

And the platform is likewise preparing to release a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. 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 Reddit Youhodler

If you are seeing this video, you want to make money by transferring your coins on one of the platforms? Every platform has specific limits and terms when it comes to providing interest on your coins. You are just able to earn greater rates if you decide to receive the interest in Celsius’s own utility token.

 

9% annually. What deserves mentioning is that if you want 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 hefty gas cost, as the currency runs on the Binance Smart Chain with method lower costs in contrast to stablecoins that operate on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler offers currently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. 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 uses greater rewards for those who wish 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 must bear in mind is that platforms tend to change the rates from time to time, so you can’t actually predict the real return from your deposits. Likewise, remember that by depositing your crypto, the value of the currency might 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 review the reliability of the platforms and their performance history. Celsius Network is most likely the most legitimate platform in this space. The creator Alex Mashinsky is a widely known business owner. Prior to introducing the Celsius network, he has actually co-founded 3 startups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep an eye on the development and review some of the stats. As we are 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 Reddit Youhodler

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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 financial report for 2020, where you will find out that the platform is not lucrative. BlockFi is also funded by lots of institutional investors and the platform is primarily targeting the United States market. According to our research study, it seems like he has transferred to Switzerland to release his crypto lending platform YouHodler in 2017.

 

At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a steep growth even if we consider the buzz in the crypto area. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our recent research, the executive board does not even consist of Antoli, however 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 known for the “misuse of clients cash”.

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Nexo is the only platform that offers interest on fiat. Now that we have reviewed some of the track records of the 4 discussed platforms, let’s briefly go over the functionality of every crypto financing site. While the crypto loans on BlockFi are only offered to U.S. residents, the platform is also working on a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most sophisticated services among the crypto lending platforms.

 

YouHodler is also one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have a truly strong idea of what every crypto financing platform is using. What you need to consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your private secrets anymore and your possessions may get compromised either by 3rd celebrations or by the platform itself. Reddit Youhodler

 

The only way to secure your crypto is to store it on a devoted hardware wallet like this one from Trezor. The downside of this technique 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 lending platforms. Based on our thorough comparison, let’s have an appearance at our independent rankings of every category for every platform.