Youhodler Down Detector 2022 – Now FAQ

Looking for Youhodler Down Detector…A lot of you have actually requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As asked for, in this video, we will be comparing business design of specific platforms, the return rates, the reliability and performance history, usability of their apps and we will likewise discuss a few of the dangers that you should consider when transferring your crypto on among these platforms. We will likewise round up the comparison with our independent rating of the just-mentioned classifications for every platform. So keep watching till the end to discover how we scored private platforms. if you are new to this channel and your goal is to become a more educated P2P investor

 

think about subscribing and hit the like button to see more material like this in the future. Let’s first provide you a quick introduction to every platform before we dive deeper into the contrast. 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 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, nevertheless, they are currently not providing loans in the United States due to local guidelines. BlockFi is the largest

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competitor to Celsius Network. The US-based company has trading and loaning licenses in various 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 readily available around the world with exception of sanctioned countries. YouHodler is most likely the most legitimate crypto loaning platform in Europe. The business is signed up in Cyprus, with a dedicated branch in Switzerland. YouHodler provides really competitive rates on your crypto assets in addition to numerous other functions which you will not find on any other platforms. The platform is readily available in lots of nations with the exception of Germany and the USA. So if you reside in the states, you will not have the ability to use YouHodler’s services. Nexo is another European platform that provides crypto enthusiasts the option to earn interest not only on their coins but likewise fiat deposits. Nexo remains in truth, among only 2, to us understood, crypto loaning platforms that use interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. So now that you have a quick summary of every platform

 

And the platform is also preparing to launch a BlockFi credit card which will create another earnings 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 analysis from Nexo’s business design as the platform doesn’t have A devoted section about

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this on their site. Now let’s talk about the returns. If you are watching this video, you want to make money by transferring your coins on one of the platforms right? Before we compare the rates, there are a few things that you should consider. When it comes to using interest on your coins, every platform has specific limitations and terms. So for instance, Celsius Network changes the rates every week to reflect the existing market scenario. Likewise, you are only able to earn higher rates if you decide to receive the interest in Celsius’s own energy token. The greater reward rates are also not offered for United States citizens. If you would not want to pay your benefits in the CEL token, you can currently 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 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 between 0.5% and 5%, and the rate for the two stablecoins is presently at

 

9% per year. What’s worth mentioning is that if you wish to conserve some charges, and bring more stability into your crypto interest account, you can likewise transfer the Binance USD coin for which you will not require to pay the significant gas charge, as the currency works on the Binance Smart Chain with method lower fees in contrast to stablecoins that operate on the ethereum network. The Binance USD coin is currently only supported on Celsius Network and BlockFi. YouHodler offers currently the most competitive rates for your USDC coins without the need to stake the platform’s own utility tokens. You can make 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 offers higher 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 ought to bear in mind is that platforms tend to change the rates from time to time, so you can’t really anticipate the genuine return from your deposits. Also, bear in mind that by depositing your crypto, the worth of the currency may reduce 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 evaluation the reliability of the platforms and their performance history. Celsius Network is likely the most genuine platform in this area. The founder Alex Mashinsky is a popular business owner. Prior to launching the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are likewise able to keep track of the development and review a few of the data. As we are tape-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 Down Detector

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paid out more than $367 M worth of benefits. While we haven’t 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 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 monetary report for 2020, where you will discover that the platform is not profitable yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement area instead of the fintech area. BlockFi is likewise funded by numerous institutional investors and the platform is mainly targeting the US market. While you can utilize the crypto interest account worldwide, the crypto loans are available Just for U.S people as BlockFi has the necessary loaning licenses just in the U.S. If you wish to inspect BlockFi’s statistics you will not be happy as there are none available. Some external sources recommend that there are more than 125,000 signed up users, nevertheless, we were unable 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 launch his crypto loaning platform YouHodler in 2017. I understand that YouHodler has actually been praised by some of you in the talk about previous videos, unfortunately, the platform isn’t publicly exposing any monetary reports, nor statistics about their user base or possessions under YouHodler’s management. When utilizing YouHodler, this is something you must definitely consider. Moving on to Nexo. Nexo declares to manage $12 B worth of assets from more than 1.5 M of users. If this is proper, it would indicate 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 delighted about Nexo’s reporting standards as we have mentioned together with other red flags in our previous video. At the start of January, Nexo had just $4B under its management from 1 M users, now 5 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 space. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research, Antoni was a Bulgarian politician with experience in the fashion Retail industry. On his LinkedIn profile, he describes Nexo as the leading controlled banks for digital properties. I would be truly interested by whom Nexo is managed, as the business doesn’t have a loaning 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 no place to be discovered on the site. The second co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance business that apparently is financing Nexo. According to our recent research study, the executive board does not 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 lending platform, which is understood for the “misuse of clients cash”. When examining some of Nexo’s comments from the CEO

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in the media, he is typically only promoting crypto and predicting prices but does not have any deeper insights into the crypto financing space or how Nexo is operating. But that’s just our impression from his Bloomberg talks. Also, Nexo is the only platform that uses interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Despite the fact that we are not legal representatives, we struggle to comprehend the legal setup under which Nexo is using its services. Now that we have reviewed some of the track records of the four mentioned platforms, let’s briefly go over the usability of every crypto financing site. Celsius has actually begun as a native mobile app. The app is well developed and it features different security features such as the biometric scan, HODL mode, and 2FA. Right in the control panel, you have the ability to see how many properties you are holding and what are the presently provided 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. Keep in mind, however, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital possessions. BlockiFi makes a less developed impression. The app is very simple therefore is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform likewise provides 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 benefits charge card which will be competing with the credit card from Crypto.com YouHodler provides a few of the most sophisticated services among the crypto loaning platforms. Currently, the platform supports 18 digital

 

YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a truly strong concept of what every crypto lending platform is offering. What you must think about however, is that as soon as you deposit your crypto on any platform, you are not owning your private secrets anymore and your assets may get compromised either by 3rd parties or by the platform itself. Youhodler Down Detector

 

give up your ownership of the assets as long as you hold them in the platform’s wallet. The only method to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The disadvantage 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 among the crypto lending platforms. As with any investment, it constantly comes down to the danger and return and your risk profile. So based on our extensive contrast, let’s have a look at our independent ratings of every classification for every platform. Keep in mind, that we have actually designated the scores based on our own research. One represents the lowest rating while five mean the highest rating. Within business design category.