Looking for Where Is Youhodler Located…Many of you have requested a comparison between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the service design of individual platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will also talk about some of the risks that you must consider when transferring your crypto on one of these platforms.
Let’s first give you a short intro 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 provides its services worldwide, nevertheless, they are presently not releasing loans in the United States due to local regulations.
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of approved countries. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not only on their coins however likewise fiat deposits. Nexo is in truth, one of only 2, to us known, crypto financing platforms that provide interest on fiat deposits.
And the platform is also preparing to introduce a BlockFi credit card which will create another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the debtors. That’s at least our analysis from Nexo’s company design as the platform doesn’t have A devoted area about
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If you are seeing this video, you desire to make cash by depositing your coins on one of the platforms? Every platform has particular limitations and terms when it comes to providing interest on your coins. You are only able to earn higher rates if you decide to receive the interest in Celsius’s own energy 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 benefits for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. What you need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t truly anticipate the real return from your deposits. Where Is Youhodler Located
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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 profitable. BlockFi is likewise funded by numerous institutional investors and the platform is generally targeting the US market. According to our research study, it seems like he has actually transferred to Switzerland to release his crypto loaning platform YouHodler in 2017.
At the start of January, Nexo had only $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 steep growth even if we think about the hype in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday loan company that apparently is funding Nexo. According to our recent research, the executive board does not even consist of 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 lending platform, which is known for the “misuse of clients money”.
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Nexo is the only platform that offers interest on fiat. Now that we have actually examined some of the track records of the four pointed out platforms, let’s briefly go over the use of every crypto loaning website. While the crypto loans on BlockFi are only offered to U.S. citizens, the platform is also working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler provides some of the most sophisticated services among the crypto lending platforms.
YouHodler is likewise one of the platforms with flexible loan terms and a maximum LTV of 90%. Now you have an actually solid idea of what every crypto financing platform is providing. What you should consider however, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your assets might get jeopardized either by third celebrations or by the platform itself. Where Is Youhodler Located
The only method to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The drawback of this method is that you will only benefit from the increased worth of your coin however not the interest on your deposits, which is something you can do on one of the crypto financing platforms. Based on our in-depth comparison, let’s have a look at our independent scores of every category for every platform.