Youhodler App Down 2022 – Now FAQ

Looking for Youhodler App Down…Many of you have requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to earn interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the company model of specific platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will likewise talk about some of the dangers that you need to think about when depositing your crypto on one of these platforms.

 

Let’s first provide you a brief intro 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 offers its services worldwide, nevertheless, they are presently not releasing loans in the United States due to regional guidelines.

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competitor to Celsius Network. The US-based business has trading and loaning licenses in various US states. , if you are looking for a wealth-management app for your crypto assets BlockFi is definitely worth considering.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of approved nations. YouHodler is likely the most genuine crypto lending platform in Europe. The company is registered in Cyprus, with a dedicated branch in Switzerland. YouHodler offers very competitive rates on your crypto assets in addition to numerous other functions which you won’t discover on any other platforms. The platform is offered in numerous countries with the exception of Germany and the USA. So if you reside in the states, you won’t have the ability to utilize YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the choice to earn interest not just on their coins but also fiat deposits. Nexo is in truth, among just 2, to us understood, crypto loaning platforms that offer interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick introduction of every platform

 

And the platform is likewise planning to release a BlockFi credit card which will create another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. That’s at least our interpretation from Nexo’s business design as the platform does not have A dedicated area about

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this on their site. Now let’s discuss the returns. If you are viewing this video, you want to make money by transferring your coins on one of the platforms? Prior to we compare the rates, there are a few things that you need to consider. When it comes to offering interest on your coins, every platform has specific limits and terms. So for example, Celsius Network alters the rates every week to show the present market situation. You are just able to earn greater rates if you decide to get the interest in Celsius’s own utility token. The higher benefit rates are also not available for US people. If you would not want to pay your rewards in the CEL token, you can presently 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 currently at

 

9% per year. What’s worth pointing out 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 fee, as the currency works on the Binance Smart Chain with method lower charges in comparison to stablecoins that operate on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler offers presently the most competitive rates for your USDC coins without the need to stake the platform’s own energy tokens. You can earn 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 provides greater rewards for those who want 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 need to remember is that platforms tend to change the rates from time to time, so you can’t actually anticipate the genuine return from your deposits. Also, bear in mind that by transferring 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. Now, that you are mindful of the returns let’s briefly evaluation the credibility of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The founder Alex Mashinsky is a well-known business owner. Before introducing the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are also able to monitor the development and examine a few of the data. As we are recording this video, there are over 650,000 users and the platform is handling $17 billion worth of possessions. Alone in the last 12 months, Celsius has Youhodler App Down

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paid out more than $367 M worth of benefits. While we have not managed to get answers to our concerns, the CEO does hold a weekly AMA session where he is attending to the most frequently asked questions, which is something rather unusual in this space. The platform is not transparent when it comes to sharing its financial reports, however with a little bit of digging, you can get your hands on the financial report for 2020, where you will discover out that the platform is not profitable. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement space instead of the fintech area. BlockFi is likewise funded by many institutional investors and the platform is generally targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are offered Just for U.S citizens as BlockFi has the required financing licenses only in the U.S. If you want to examine BlockFi’s stats you will not be happy as there are none offered. Some external sources recommend that there are more than 125,000 signed up users, nevertheless, we were unable to verify any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research, it appears like he has actually relocated to Switzerland to launch his crypto financing platform YouHodler in 2017. I understand that YouHodler has been applauded by some of you in the talk about previous videos, regrettably, the platform isn’t publicly revealing any monetary reports, nor statistics about their user base or properties under YouHodler’s management. When utilizing YouHodler, this is something you ought to certainly consider. Moving on to Nexo. Nexo claims to manage $12 B worth of properties from more than 1.5 M of users. It would mean that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is right

 

deposit quantity as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have pointed out together with other red flags in our previous video. Also, at the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform claims to handle $12B from 1.5 M users, which we believe is a little a steep development even if we think about the buzz in the crypto space. So 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 style Retail industry. On his LinkedIn profile, he describes Nexo as the leading managed financial institution for digital properties. I would be really interested by whom Nexo is controlled, as the business doesn’t have a lending license in Estonia, where they are a legal entity Nexo Services OU is based. Throughout our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance company that obviously is financing Nexo. According to our recent research, the executive board does not even include Antoli, but only Kosta and 2 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 customers money”. Also when evaluating some of Nexo’s remarks from the CEO

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Nexo is the only platform that uses interest on fiat. Now that we have actually examined some of the track records of the 4 discussed platforms, let’s briefly go over the usability of every crypto financing website. While the crypto loans on BlockFi are only available to U.S. citizens, the platform is likewise working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler uses some of the most innovative services among the crypto lending platforms.

 

currencies on which you have the ability to earn interest. YouHodler allows you to exchange between numerous currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit quantities are really low, so you do not need to move numerous Euros or Dollars to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can only earn interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler likewise uses you the choice to borrow fiat money in exchange for collateral. The platform presently supports just loans in us euros or dollars. YouHodler is likewise one of the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also offers two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the performance of those functions exceeds this video, you can learn how it operates in our dedicated youhodler review on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is likewise using its utility tokens to offer much better rates on loans, greater 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 possessions for a specified term, you can get a higher interest rate. Like BlockFi, Nexo also uses you to purchase, or exchange crypto if you wish to hold your possessions in different currencies. Now you have an actually solid idea of what every crypto financing platform is using. What you need to consider though, is that as soon as you deposit your crypto on any platform, you are not owning your personal secrets anymore and your possessions might get jeopardized either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you do not own the secrets, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are very clear about the reality that you Youhodler App Down

 

The only way to protect your crypto is to keep it on a devoted 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 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 a look at our independent ratings of every category for every platform.