Looking for Youhodler Bitcoin Points…Many of you have actually asked for a comparison in 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 business design of individual platforms, the return rates, the reliability and track record, use of their apps and we will also speak about some of the dangers that you should think about when depositing your crypto on one of these platforms. We will also round up the comparison with our independent score of the just-mentioned classifications for every single platform. So keep watching until completion to discover 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,
consider subscribing and hit the like button to see more content like this in the future. So let’s very first offer you a short introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform worldwide, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to earn or take a crypto loan interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of assets. The platform offers its services worldwide, nevertheless, they are currently not releasing loans in the United States due to local guidelines. BlockFi is the biggest
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competitor to Celsius Network. The US-based company has trading and loaning licenses in various US states. If you are trying to find 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 available around the world with exception of sanctioned countries. YouHodler is most likely the most legitimate crypto financing platform in Europe. The business is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler provides very competitive rates on your crypto properties along with numerous other features which you will not discover 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 won’t be able to use YouHodler’s services. Nexo is another European platform that offers crypto lovers the alternative to make interest not just on their coins however likewise fiat deposits. Nexo remains in truth, one of just two, to us known, crypto loaning platforms that provide interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. Now that you have a quick introduction of every platform
let’s discuss how they make money in the first place. Celsius makes cash from the interest they charge to the debtors which are either retail debtors or institutions, they also make money from their CEL token which is an energy token that you can use to increase your benefits on Celsius Network. Another income stream is the rehypothecation which suggests that Celsius utilizes the security from the customers and releases it in order to produce extra income. BlockFi is likewise generating income through the interest that is being charged to customers. The platform likewise charges a 2% origination cost for anyone who desires to take a loan. Another income stream is BlockFi’s exchange function. The platform generates income from the spread when exchanging currencies. BlockFi also charges withdrawal fees after your one totally free withdrawal each month. And the platform is also planning to introduce a BlockFi charge card which will produce another earnings stream. YouHodler is likewise generating income from the interest credited borrowers. In addition to that, there is a little withdrawal cost and fees for extra services such as the Multi HODL tool, which is a feature that lets you take advantage of your crypto assets in exchange for possible returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the customers. Nexo likewise makes earnings with their Nexo token. That’s at least our analysis from Nexo’s organization model as the platform does not have A devoted area about
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If you are enjoying this video, you want to make money by depositing your coins on one of the platforms? Every platform has certain limits and terms when it comes to using interest on your coins. You are just able to make greater rates if you choose to receive the interest in Celsius’s own utility token.
9% per year. What’s worth pointing out is that if you want to conserve some charges, and bring more stability into your crypto interest account, you can likewise deposit the Binance USD coin for which you will not require to pay the large gas charge, as the currency works on the Binance Smart Chain with way lower costs in comparison to stablecoins that run on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler offers presently 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 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 bear in mind is that platforms tend to adjust the rates from time to time, so you can’t really anticipate the genuine return from your deposits. Keep in mind that by transferring your crypto, the worth of the currency may decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. Now, that you are aware of the returns let’s briefly review the trustworthiness of the platforms and their track record. Celsius Network is likely the most legitimate platform in this area. The founder Alex Mashinsky is a widely known entrepreneur. Before launching the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are also able to keep an eye on the development and examine a few of the statistics. As we are tape-recording this video, there are over 650,000 users and the platform is managing $17 billion worth of assets. Alone in the last 12 months, Celsius has Youhodler Bitcoin Points
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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 find out that the platform is not profitable. BlockFi is likewise funded by numerous institutional investors and the platform is primarily targeting the United States market. According to our research, it appears like he has actually moved to Switzerland to release his crypto financing platform YouHodler in 2017.
At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep development even if we consider the buzz in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who also 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 just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “abuse of clients money”.
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Nexo is the only platform that uses interest on fiat. Now that we have examined some of the track records of the four mentioned platforms, let’s briefly go over the usability of every crypto financing website. While the crypto loans on BlockFi are just readily available to U.S. citizens, the platform is also working on a Bitcoin rewards credit card which will be contending with the credit card from Crypto.com YouHodler offers some of the most innovative services among the crypto loaning platforms.
currencies on which you have the ability to make interest. YouHodler permits you to exchange in between various currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are really low, so you don’t need 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 possessions. Apart from earning interest on your deposits or exchanging cryptos, YouHodler also provides you the choice to obtain fiat money in exchange for security. The platform presently supports just loans in us dollars or euros. YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler likewise uses two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the functionality of those features exceeds this video, you can learn how it operates in our dedicated youhodler evaluation on p2pempire. Nexo’s functionality is similar to Celsius Network. Nexo is likewise using its utility tokens to offer much better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals monthly. Likewise if you choose to stake your coins or fiat, meaning you lock your properties for a specified term, you can get a higher interest rate. Like BlockFi, Nexo likewise offers you to purchase, or exchange crypto if you want to hold your properties in different currencies. Now you have a truly strong idea of what every crypto loaning platform is offering. What you ought to consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your personal secrets any longer and your properties might get jeopardized either by 3rd parties or by the platform itself. It’s like depositing your crypto on the exchange – if you do not own the keys, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are extremely clear about the fact that you Youhodler Bitcoin Points
The only way to secure your crypto is to save it on a devoted hardware wallet like this one from Trezor. The drawback of this method is that you will just benefit from the increased value of your coin however not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our in-depth contrast, let’s have a look at our independent scores of every category for every platform.