Youhodler Address 2022 – Now FAQ

Looking for Youhodler Address…Many of you have asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of private platforms, the return rates, the credibility and track record, use of their apps and we will also talk about some of the risks that you need to consider when transferring your crypto on one of these platforms.

 

Let’s first give you a short introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform in the world, which was established in 2017 by Alex Mashinsky. The platform uses its services worldwide, however, they are currently not providing loans in the United States due to local guidelines.

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The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned countries. Nexo is another European platform that uses crypto enthusiasts the alternative to earn interest not just on their coins however also fiat deposits. Nexo is in truth, one of only two, to us known, crypto loaning platforms that offer interest on fiat deposits.

 

And the platform is likewise preparing to release a BlockFi credit card which will create another income stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. That’s at least our analysis from Nexo’s business design as the platform does not have A devoted section about

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this on their website. Now let’s speak about the returns. If you are seeing this video, you want to make money by transferring your coins on one of the platforms? Before we compare the rates, there are a few things that you should think about. Every platform has specific limits and terms when it pertains to providing interest on your coins. So for example, Celsius Network alters the rates each week to show the existing market circumstance. You are only able to make greater rates if you decide to get the interest in Celsius’s own utility token. The higher benefit rates are also not readily available for US people. If you would not wish to pay out your benefits in the CEL token, you can currently anticipate to get 5.05% on your Ethereum, 3.51% on your Bitcoin, and 10% interest on your deposits in Binance USD or USDC which is the stablecoin from Coinbase. On BlockFi, the rate for your Ethereum and Bitcoin deposits depends on the number of your possessions. The more bitcoin or ethereum you deposit, the less interest you will get. The interest rate for Ethereum ranges in between 0.5% and 4.5%, the rate for bitcoin is in between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

9% per year. What’s worth pointing out is that if you wish to save some fees, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not need to pay the significant gas fee, as the currency runs on the Binance Smart Chain with way lower charges in contrast to stablecoins that work 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 need to stake the platform’s own energy tokens. You can make 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides greater benefits for those who wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform provides 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you should keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really forecast the genuine 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 assets if that’s something you would otherwise think about. So now, that you understand the returns let’s briefly review the credibility of the platforms and their track record. Celsius Network is most likely the most genuine platform in this area. The creator Alex Mashinsky is a well-known entrepreneur. Before launching the Celsius network, he has actually co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the development and examine some of the data. As we are recording this video, there are over 650,000 users and the platform is handling $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Address

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paid more than $367 M worth of rewards. While we have not 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 uncommon in this area. The platform is not transparent when it pertains to sharing its monetary reports, however with a little bit of digging, you can get your hands on the financial report for 2020, where you will discover that the platform is not profitable yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement space rather than the fintech area. BlockFi is likewise funded by many institutional investors and the platform is primarily targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are available Just for U.S residents as BlockFi has the required financing licenses only in the U.S. , if you want to inspect BlockFi’s statistics you won’t be pleased as there are none offered.. Some external sources recommend that there are more than 125,000 signed up users, however, we were not able to confirm 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 transferred to Switzerland to release his crypto lending platform YouHodler in 2017. I understand that YouHodler has been applauded by some of you in the talk about previous videos, sadly, the platform isn’t openly exposing any monetary reports, nor statistics about their user base or possessions under YouHodler’s management. This is something you need to certainly think about when using YouHodler. Carrying on to Nexo. Nexo declares to manage $12 B worth of possessions from more than 1.5 M of users. It would imply that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is appropriate

 

deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have pointed out together with other warnings in our previous video. At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform claims to handle $12B from 1.5 M users, which we think is a bit of a high development 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 study, Antoni was a Bulgarian politician with experience in the style Retail market. On his LinkedIn profile, he describes Nexo as the leading controlled financial institution for digital possessions. I would be actually interested by whom Nexo is regulated, as the company doesn’t have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the site. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance loan business that apparently is financing 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 formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is understood for the “abuse of customers cash”. Also when examining a few of Nexo’s comments from the CEO

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in the media, he is frequently only promoting crypto and anticipating rates however lacks any much deeper insights into the crypto lending area or how Nexo is running. However that’s simply our impression from his Bloomberg talks. Also, Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not provide interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Despite the fact that we are not attorneys, we have a hard time to understand the legal setup under which Nexo is offering its services. So now that we have actually evaluated some of the track records of the 4 mentioned platforms, let’s briefly discuss the usability of every crypto loaning site. Celsius has actually started as a native mobile app. The app is well established and it features numerous security features such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how numerous assets you are holding and what are the presently provided 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 acquire them straight through the app. Note, however, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital properties. BlockiFi makes a less industrialized impression. The app is extremely basic and so is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform likewise offers a dedicated exchange so you can even trade them. We do not suggest this function that much as the exchange rates are not the best. While the crypto loans on BlockFi are only readily available to U.S. people, the platform is likewise dealing with a Bitcoin rewards charge card which will be taking on the credit card from Crypto.com YouHodler uses some of the most sophisticated services among the crypto lending platforms. Currently, the platform supports 18 digital

 

currencies on which you are able to earn interest. YouHodler allows you to exchange in between different currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are really low, so you do not require to move hundreds of Euros or Dollars to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler doesn’t have a banking license, you can only earn interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler also provides you the option to obtain fiat money in exchange for security. The platform presently supports just loans in us euros or dollars. YouHodler is also among the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also uses two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the functionality of those features surpasses this video, you can find out how it works in our dedicated youhodler review on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is likewise utilizing its utility tokens to use better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals monthly. Also if you decide to stake your coins or fiat, meaning you lock your assets for a defined term, you can get a higher rate of interest. Like BlockFi, Nexo likewise provides you to purchase, or exchange crypto if you want to hold your possessions in numerous currencies. Now you have a really strong concept of what every crypto loaning platform is using. What you need to think about however, is that as soon as you deposit your crypto on any platform, you are not owning your private keys anymore and your properties may get jeopardized either by third parties or by the platform itself. It resembles depositing your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are really clear about the reality that you Youhodler Address

 

The only way to secure your crypto is to save it on a devoted hardware wallet like this one from Trezor. The disadvantage of this method 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 contrast, let’s have an appearance at our independent ratings of every classification for every platform.