Youhodler Crypto Reddit 2022 – Now FAQ

Looking for Youhodler Crypto Reddit…Many of you have asked for a contrast in 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 business model of private platforms, the return rates, the trustworthiness and track record, functionality of their apps and we will likewise talk about some of the threats that you should consider when transferring your crypto on one of these platforms.

 

think about subscribing and hit the like button to see more content like this in the future. Let’s first provide you a brief introduction to every platform prior to we dive deeper into the contrast. Celsius Network is the fastest-growing crypto loaning platform on the planet, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users utilizing Celsius Network to take a crypto loan or make interest on their stablecoins and cryptocurrencies. In overall, Celsius handles more than $17 B worth of assets. The platform provides its services worldwide, however, they are currently not issuing loans in the United States due to regional guidelines. BlockFi is the largest

youhodler crypto interest loans, platform for users

rival to Celsius Network. The US-based company has trading and loaning licenses in numerous US states. , if you are looking for a wealth-management app for your crypto possessions BlockFi is definitely worth considering.. The platform uses crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of approved nations. YouHodler is likely the most legitimate crypto financing platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler uses very competitive rates on your crypto assets in addition to numerous other functions which you will not discover on any other platforms. The platform is available in lots of countries with the exception of Germany and the U.S.A.. If you live in the states, you won’t be able to use YouHodler’s services. Nexo is another European platform that uses crypto enthusiasts the alternative to make interest not only on their coins but likewise fiat deposits. Nexo is in fact, one of only 2, to us understood, crypto loaning platforms that use interest on fiat deposits. The platform provides its services worldwide, with exception of Bulgaria and Estonia. So now that you have a short introduction of every platform

 

let’s speak about how they generate income in the first place. So Celsius generates income from the interest they credit the debtors which are either retail customers or organizations, they also earn money from their CEL token which is an utility token that you can utilize to increase your benefits on Celsius Network. Another earnings stream is the rehypothecation which suggests that Celsius uses the collateral from the customers and deploys it in order to generate extra income. BlockFi is also generating income through the interest that is being charged to borrowers. In addition to that, the platform also charges a 2% origination fee for anybody who wishes to take a loan. Another income stream is BlockFi’s exchange feature. When exchanging currencies, the platform makes cash from the spread. BlockFi also charges withdrawal charges after your one complimentary withdrawal each month. And the platform is likewise preparing to introduce a BlockFi charge card which will generate another earnings stream. YouHodler is also generating income from the interest charged to debtors. In addition to that, there is a little withdrawal fee and fees for extra services such as the Multi HODL tool, which is a function that lets you utilize your crypto properties in exchange for prospective returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. Nexo likewise makes earnings with their Nexo token. That’s at least our interpretation from Nexo’s organization model as the platform does not have A devoted area about

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

this on their website. Now let’s speak about the returns. If you are seeing this video, you wish to make money by depositing your coins on one of the platforms right? Before we compare the rates, there are a few things that you should think about however. When it comes to offering interest on your coins, every platform has particular limits and terms. So for example, Celsius Network alters the rates each week to show the existing market situation. Likewise, you are just able to make higher rates if you choose to get the interest in Celsius’s own energy token. The greater benefit rates are also not readily available for US residents. If you would not wish to pay your benefits in the CEL token, you can presently anticipate to receive 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 properties. The more bitcoin or ethereum you deposit, the less interest you will receive. The interest rate for Ethereum varieties 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 deserves mentioning is that if you want to save some charges, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not need to pay the large gas fee, as the currency operates on the Binance Smart Chain with way lower costs in contrast to stablecoins that work 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 provides 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides greater benefits for those who wish to receive the interest in the native NEXO tokens instead of the deposited currency. The platform uses 6% for non-Nexo token holders on bitcoin and ethereum and 10% on the USDC coin. What you need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really predict the genuine return from your deposits. Also, remember that by depositing your crypto, the value of the currency may decrease Which will make it hard for you to liquidate your properties if that’s something you would otherwise think about. So now, that you understand the returns let’s briefly review the trustworthiness of the platforms and their performance history. Celsius Network is likely the most legitimate platform in this space. The founder Alex Mashinsky is a well-known entrepreneur. Prior to 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 keep an eye on the progress and examine a few of the statistics. As we are taping this video, there are over 650,000 users and the platform is managing $17 billion worth of properties. Alone in the last 12 months, Celsius has Youhodler Crypto Reddit

bitcoin amount of lending service with value feature trading

paid out more than $367 M worth of rewards. While we haven’t 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 unusual in this area. The platform is not transparent when it comes to sharing its monetary reports, but with a little bit of digging, you can get your hands on the financial report for 2020, where you will find 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 development space instead of the fintech area. BlockFi is also funded by numerous institutional investors and the platform is mainly targeting the United States 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 necessary financing licenses just in the U.S. , if you desire to examine BlockFi’s data you will not be delighted as there are none available.. Some external sources recommend that there are more than 125,000 signed up users, however, we were not able to validate 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 seems like he has relocated to Switzerland to introduce his crypto financing platform YouHodler in 2017. I understand that YouHodler has been praised by some of you in the talk about previous videos, sadly, the platform isn’t openly revealing any financial reports, nor data about their user base or properties under YouHodler’s management. When utilizing YouHodler, this is something you need to definitely think about. Carrying on to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. If this is proper, it would imply that Nexo is two times as huge in terms of user base as Celsius with a much lower average

 

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 red flags in our previous video. Also, at the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform declares to handle $12B from 1.5 M users, which we believe is a little a steep development even if we consider the buzz in the crypto area. 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 fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading regulated banks for digital possessions. I would be truly interested by whom Nexo is managed, as the company does not have a financing license in Estonia, where they are a legal entity Nexo Services OU is based. Throughout our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance company that apparently is funding Nexo. According to our recent research, the executive board does not even include 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 loaning platform, which is known for the “abuse of clients money”. Likewise when evaluating some of Nexo’s comments from the CEO

turbocharge  stablecoins crypto assets  coins investment profile

 

in the media, he is often only promoting crypto and predicting prices but lacks any much deeper insights into the crypto loaning area or how Nexo is running. But that’s simply our impression from his Bloomberg talks. Likewise, Nexo is the only platform that provides interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Although we are not lawyers, we have a hard time to understand the legal setup under which Nexo is using its services. So now that we have actually reviewed a few of the performance history of the four pointed out platforms, let’s briefly review the functionality of every crypto lending website. Celsius has actually begun as a native mobile app. The app is well established and it features various security functions such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you are able to see how many assets you are holding and what are the currently used rates. You can withdraw and move 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. Keep in mind, however, that there might be fees for charge card purchases or SEPA transfers. Celsius Network supports currently 40 digital properties. BlockiFi makes a less developed impression. The app is really simple therefore is the desktop version of the platform. BlockFi supports presently just 10 digital currencies. The platform also offers a dedicated exchange so you can even trade them. We do not suggest this feature that much as the exchange rates are not the best. While the crypto loans on BlockFi are just offered to U.S. people, the platform is likewise dealing with a Bitcoin rewards credit card which will be taking on the charge card from Crypto.com YouHodler provides a few of the most advanced services among the crypto lending platforms. Presently, the platform supports 18 digital

 

currencies on which you have the ability to make interest. YouHodler permits you to exchange between different currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit quantities are very low, so you don’t require to transfer hundreds of Dollars or euros 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 just earn interest on your crypto assets. Apart from earning interest on your deposits or exchanging cryptos, YouHodler likewise provides you the alternative to borrow fiat money in exchange for security. The platform currently supports just loans in us dollars or euros. YouHodler is likewise among 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 functions exceeds this video, you can learn how it works in our dedicated youhodler review on p2pempire. Nexo’s use resembles Celsius Network. Nexo is likewise using its utility tokens to offer 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, suggesting you lock your properties for a specified term, you can get a higher rates of interest. Like BlockFi, Nexo likewise uses you to purchase, or exchange crypto if you want to hold your properties in numerous currencies. Now you have an actually strong idea of what every crypto lending platform is using. What you should think about however, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets anymore and your assets 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 keys, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are very clear about the reality that you Youhodler Crypto Reddit

 

give up your ownership of the possessions as long as you hold them in the platform’s wallet. The only way to safeguard your crypto is to keep it on a devoted hardware wallet like this one from Trezor. That’s the best way to keep your cryptos safe. The drawback of this method is that you will just gain from the increased value of your coin however not the interest on your deposits, which is something you can do on among the crypto loaning platforms. As with any investment, it always comes down to the danger and return and your danger profile. Based on our in-depth comparison, let’s have a look at our independent rankings of every category for every platform. Keep in mind, that we have actually designated the scores based upon our own research. One represents the lowest score while 5 represent the highest score. Within business design classification.