Youhodler Credit Card Hong Kong 2022 – Now FAQ

Looking for Youhodler Credit Card Hong Kong…Numerous of you have actually requested a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing the service model of individual platforms, the return rates, the trustworthiness and track record, use of their apps and we will also talk about some of the threats that you ought to consider when depositing your crypto on one of these platforms.

 

consider subscribing and hit the like button to see more material like this in the future. So let’s first provide you a quick 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 founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or make interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of assets. The platform provides its services worldwide, however, they are presently not issuing loans in the United States due to regional policies. BlockFi is the biggest

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The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered worldwide with exception of sanctioned countries. Nexo is another European platform that offers crypto lovers the choice to make interest not only on their coins however also fiat deposits. Nexo is in reality, one of only 2, to us understood, crypto lending platforms that use interest on fiat deposits.

 

And the platform is also planning to launch a BlockFi credit card which will produce another income 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 interpretation from Nexo’s service design as the platform doesn’t have A devoted area about

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this on their website. Now let’s talk about the returns. If you are seeing this video, you want to make cash by transferring your coins on one of the platforms? Prior to we compare the rates, there are a few things that you ought to consider though. When it comes to using interest on your coins, every platform has certain limitations and terms. For example, Celsius Network changes the rates every week to show the existing market scenario. Also, you are only able to earn greater rates if you choose to receive the interest in Celsius’s own utility token. The greater reward rates are likewise not available for US citizens. If you would not want to pay out your rewards in the CEL token, you can presently expect 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 upon the variety of your assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The interest rate for Ethereum ranges between 0.5% and 4.5%, the rate for bitcoin is between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

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 rewards for those who desire to get the interest in the native NEXO tokens rather of the deposited currency. What you must keep in mind is that platforms tend to change the rates from time to time, so you can’t truly anticipate the genuine return from your deposits. Youhodler Credit Card Hong Kong

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paid 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 resolving the most frequently asked questions, which is something rather rare in this area. The platform is not transparent when it comes to sharing its financial reports, but 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 lucrative. 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 space. BlockFi is likewise funded by lots of institutional investors and the platform is mainly targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are readily available Only for U.S people as BlockFi has the necessary lending licenses just in the U.S. If you want to inspect BlockFi’s data you won’t enjoy as there are none available. Some external sources suggest that there are more than 125,000 signed up users, however, we were unable to verify any of those claims directly with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech area in Russia. According to our research, it seems like he has transferred to Switzerland to introduce his crypto lending platform YouHodler in 2017. I understand that YouHodler has been applauded by a few of you in the comments on previous videos, unfortunately, the platform isn’t openly exposing any financial reports, nor statistics about their user base or possessions under YouHodler’s management. This is something you need to certainly consider when utilizing YouHodler. Proceeding to Nexo. Nexo claims to manage $12 B worth of possessions from more than 1.5 M of users. It would indicate that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is proper

 

At the start of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform claims to manage $12B from 1.5 M users, which we believe is a bit of a steep growth even if we think about the buzz in the crypto area. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our current research, the executive board doesn’t even include Antoli, however just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “abuse of customers cash”.

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Nexo is the only platform that offers interest on fiat. Now that we have evaluated some of the track records of the four pointed out platforms, let’s briefly go over the usability of every crypto loaning site. While the crypto loans on BlockFi are only offered to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be completing with the credit card from Crypto.com YouHodler provides some of the most sophisticated services amongst the crypto loaning platforms.

 

currencies on which you are able to make interest. YouHodler permits you to exchange between various currencies or deposit fiat via bank wire or other supported payment services. The minimum deposit quantities are extremely low, so you don’t require to transfer hundreds of Dollars or euros to test 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 currently supports only loans in us dollars or euros. YouHodler is also among the platforms with versatile loan terms and an optimum LTV of 90%. Apart from those services, YouHodler likewise offers two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic financiers. As the functionality of those features exceeds this video, you can learn how it operates in our devoted youhodler review on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is likewise using its utility tokens to provide better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals per month. Also if you choose to stake your coins or fiat, indicating you lock your assets for a specified term, you can get a higher rate of interest. Like BlockFi, Nexo also offers you to buy, or exchange crypto if you want to hold your possessions in various currencies. Now you have a really solid idea of what every crypto financing platform is offering. What you should consider though, is that as soon as you transfer your crypto on any platform, you are not owning your private keys anymore and your possessions might get jeopardized either by third parties or by the platform itself. It’s like depositing your crypto on the exchange – if you don’t own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the fact that you Youhodler Credit Card Hong Kong

 

The only way to secure your crypto is to save 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 loaning platforms. Based on our in-depth contrast, let’s have an appearance at our independent scores of every category for every platform.