Youhodler Crypto Country 2022 – Now FAQ

Looking for Youhodler Crypto Country…Many of you have requested a contrast 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 the business model of private platforms, the return rates, the credibility and track record, functionality of their apps and we will likewise discuss a few of the risks that you must consider when depositing your crypto on one of these platforms. We will likewise assemble the comparison with our independent rating of the just-mentioned categories for each platform. Keep watching till the end to find out how we scored private platforms. If you are brand-new to this channel and your objective is to become a more informed P2P financier,

 

consider subscribing and hit the like button to see more material like this in the future. So let’s very first give you a brief introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform on the planet, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to earn or take a crypto loan interest on their cryptocurrencies and stablecoins. In total, Celsius handles more than $17 B worth of assets. The platform provides its services worldwide, however, they are currently not providing loans in the United States due to regional guidelines. BlockFi is the biggest

youhodler crypto interest loans, platform for users

rival to Celsius Network. The US-based company has trading and loaning licenses in various US states. If you are searching for a wealth-management app for your crypto possessions BlockFi is certainly worth thinking about. The platform offers crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of sanctioned countries. YouHodler is likely the most legitimate crypto loaning platform in Europe. The company is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers really competitive rates on your crypto possessions along with numerous other functions which you will not find on any other platforms. The platform is offered in lots of countries with the exception of Germany and the USA. So if you reside in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the choice to make interest not only on their coins however also fiat deposits. Nexo remains in truth, one of only two, to us known, crypto lending platforms that offer interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a brief summary of every platform

 

let’s talk about how they earn money in the first place. Celsius makes cash from the interest they charge to the debtors which are either retail borrowers or organizations, they also make cash from their CEL token which is an energy token that you can utilize to increase your rewards on Celsius Network. Another earnings stream is the rehypothecation which indicates that Celsius uses the security from the borrowers and releases it in order to generate additional income. BlockFi is also earning money through the interest that is being credited debtors. The platform also charges a 2% origination cost for anybody who desires to take a loan. Another earnings stream is BlockFi’s exchange function. When exchanging currencies, the platform makes money from the spread. BlockFi likewise charges withdrawal charges after your one free withdrawal monthly. And the platform is also preparing to introduce a BlockFi charge card which will create another earnings stream. YouHodler is also making money from the interest credited customers. In addition to that, there is a little withdrawal fee and costs for extra services such as the Multi HODL tool, which is a feature that lets you leverage your crypto possessions in exchange for prospective returns. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. Nexo also makes earnings with their Nexo token. That’s at least our analysis from Nexo’s company design as the platform doesn’t have A devoted section about

money fees on celsius services priced about stablecoins  profit margin Youhodler Crypto Country

this on their website. Now let’s talk about the returns. If you are seeing this video, you want to make cash by depositing your coins on one of the platforms? Prior to we compare the rates, there are a few things that you must consider. Every platform has particular limitations and terms when it pertains to using interest on your coins. So for example, Celsius Network changes the rates each week to reflect the current market circumstance. Also, you are only able to make greater rates if you decide to receive the interest in Celsius’s own utility token. The greater reward rates are likewise not available for United States citizens. If you would not want to pay out your benefits 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 get. The interest rate for Ethereum varieties 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

 

9% per year. What deserves discussing is that if you want to save some fees, 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 significant gas cost, as the currency works on the Binance Smart Chain with method lower fees in comparison to stablecoins that operate on the ethereum network. The Binance USD coin is currently just 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 utility tokens. 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 wish to get the interest in the native NEXO tokens instead of the deposited currency. The platform offers 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you ought to bear in mind is that platforms tend to change the rates from time to time, so you can’t actually predict the genuine return from your deposits. Likewise, bear in mind that by transferring your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your possessions if that’s something you would otherwise think about. Now, that you are aware of the returns let’s briefly evaluation the reliability of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this space. The creator Alex Mashinsky is a widely known business owner. Before introducing the Celsius network, he has co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are also able to monitor the progress and examine a few of the stats. 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 Crypto Country

bitcoin amount of lending service with value feature trading

paid out more than $367 M worth of rewards. While we have not managed to get answers to our questions, 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 space. The platform is not transparent when it concerns sharing its monetary reports, however with a bit of digging, you can get your hands on the monetary report for 2020, where you will find out that the platform is not rewarding yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development space rather than the fintech area. BlockFi is also financed by numerous institutional financiers and the platform is generally targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are readily available Just for U.S residents as BlockFi has the required loaning licenses just in the U.S. , if you want to check BlockFi’s stats you won’t be pleased as there are none available.. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were not able to validate 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 seems like he has relocated to Switzerland to release his crypto loaning platform YouHodler in 2017. I know that YouHodler has been applauded by some of you in the comments on previous videos, regrettably, the platform isn’t openly exposing any financial reports, nor statistics about their user base or properties under YouHodler’s management. When using YouHodler, this is something you must certainly consider. Moving on to Nexo. Nexo claims to handle $12 B worth of possessions from more than 1.5 M of users. It would suggest that Nexo is twice 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 standards as we have actually mentioned together with other red flags in our previous video. Also, at the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the hype in the crypto space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research study, Antoni was a Bulgarian political leader with experience in the style Retail industry. 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 Services OU is based. During our research, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is no place to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance loan company that obviously 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 financing platform, which is understood for the “misuse of customers money”. When examining some of Nexo’s remarks from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is frequently only promoting crypto and anticipating rates however lacks any much deeper insights into the crypto loaning space or how Nexo is running. That’s just our impression from his Bloomberg talks. Nexo is the only platform that provides interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Although we are not legal representatives, we struggle to understand the legal setup under which Nexo is offering its services. So now that we have actually examined a few of the performance history of the 4 pointed out platforms, let’s briefly discuss the usability of every crypto lending site. Celsius has begun as a native mobile app. The app is well established and it features numerous security functions such as the biometric scan, HODL mode, and 2FA. In the control panel, you are able to see how numerous possessions you are holding and what are the currently used rates. You can withdraw and move supported coins however there is no exchange, so if you don’t transfer your cryptos from another wallet, you can acquire them directly through the app. Note, however, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports presently 40 digital possessions. BlockiFi makes a less developed impression. The app is very simple therefore is the desktop variation of the platform. BlockFi supports presently just 10 digital currencies. The platform also uses a devoted exchange so you can even trade them. We do not advise this function that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only readily available to U.S. citizens, the platform is also dealing with a Bitcoin rewards charge card which will be taking on the credit card from Crypto.com YouHodler provides some of the most innovative services amongst the crypto lending platforms. Presently, the platform supports 18 digital

 

currencies on which you have the ability to earn 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 quantities are extremely low, so you do not need to move numerous Dollars or euros 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 making interest on your deposits or exchanging cryptos, YouHodler likewise uses you the alternative to obtain fiat money in exchange for security. The platform presently supports just loans in us euros or dollars. YouHodler is also one of the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also provides two leveraging tools such as Turbocharged loans and Multi HODL, which are suitable for more opportunistic investors. As the functionality of those functions exceeds this video, you can learn how it operates in our dedicated youhodler review on p2pempire. Nexo’s use is similar to Celsius Network. Nexo is also utilizing its energy tokens to offer much better rates on loans, higher interests on crypto and fiat deposits, or more totally free withdrawals each month. Likewise if you decide to stake your coins or fiat, indicating you lock your properties for a defined term, you can get a greater rate of interest. Like BlockFi, Nexo also offers you to buy, or exchange crypto if you want to hold your possessions in numerous currencies. Now you have a really strong concept of what every crypto lending platform is offering. What you should think about though, is that as quickly as you deposit your crypto on any platform, you are not owning your personal secrets any longer and your possessions may 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 very clear about the reality that you Youhodler Crypto Country

 

give up your ownership of the assets as long as you hold them in the platform’s wallet. The only method to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The downside of this strategy 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 among the crypto lending platforms. As with any financial investment, it always comes down to the threat and return and your threat profile. So based upon our thorough contrast, let’s take a look at our independent rankings of every classification for every platform. Keep in mind, that we have appointed the rankings based upon our own research study. One represents the most affordable ranking while five stands for the highest ranking. Within the business model category.