Youhodler Down Reddit 2022 – Now FAQ

Looking for Youhodler Down Reddit…Much of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn 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 trustworthiness and performance history, use of their apps and we will likewise speak about a few of the threats that you must consider when transferring your crypto on one of these platforms. We will likewise assemble the comparison with our independent score of the just-mentioned classifications for every single platform. So keep watching until completion to learn how we scored individual platforms. If you are new to this channel and your goal is to end up being a more educated P2P financier,

 

Let’s very first provide you a brief introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto financing platform in the world, which was established in 2017 by Alex Mashinsky. The platform offers its services worldwide, however, they are currently not releasing loans in the United States due to regional policies.

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The platform uses crypto-backed loans in 47 US states and their crypto interest account is available worldwide with exception of sanctioned countries. Nexo is another European platform that provides crypto lovers the alternative to earn interest not just on their coins however likewise fiat deposits. Nexo is in truth, one of just 2, to us understood, crypto lending platforms that offer interest on fiat deposits.

 

And the platform is also planning to introduce a BlockFi credit card which will generate another income stream. Like all the other platforms, Nexo also 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 does not have A devoted section about

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If you are seeing this video, you desire to make cash by transferring your coins on one of the platforms? Every platform has specific limitations and terms when it comes to providing interest on your coins. You are only able to make higher rates if you choose to get the interest in Celsius’s own energy token.

 

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 rewards for those who desire to receive the interest in the native NEXO tokens instead of the deposited currency. What you ought to keep in mind is that platforms tend to change the rates from time to time, so you can’t really predict the real return from your deposits. Youhodler Down Reddit

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paid out 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 attending to the most frequently asked questions, which is something rather unusual in this area. The platform is not transparent when it comes to sharing its financial reports, however 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 rather than the fintech space. BlockFi is also funded by numerous institutional investors and the platform is mainly targeting the US 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 financing licenses only in the U.S. If you want to check BlockFi’s stats you will not enjoy as there are none offered. Some external sources recommend that there are more than 125,000 registered users, however, we were unable to validate 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 study, it seems like he has relocated to Switzerland to introduce his crypto lending platform YouHodler in 2017. I know that YouHodler has been praised by some of you in the comments on previous videos, unfortunately, the platform isn’t publicly exposing any monetary reports, nor data about their user base or possessions under YouHodler’s management. When using YouHodler, this is something you must definitely 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 huge in terms of user base as Celsius with a much lower average if this is proper

 

At the start of January, Nexo had just $4B under its management from 1 M users, now 5 months later, the platform claims to handle $12B from 1.5 M users, which we think is a bit of a high development even if we consider the buzz in the crypto space. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan company that obviously is financing Nexo. According to our recent research, the executive board does not even include Antoli, however only 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 known for the “abuse of clients cash”.

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Nexo is the only platform that provides interest on fiat. Now that we have examined some of the track records of the four pointed out platforms, let’s briefly go over the functionality of every crypto loaning website. While the crypto loans on BlockFi are only readily available to U.S. citizens, the platform is also working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most sophisticated services among the crypto lending platforms.

 

currencies on which you have the ability to make interest. YouHodler allows 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 need 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 making interest on your deposits or exchanging cryptos, YouHodler also provides you the alternative to borrow fiat money in exchange for collateral. The platform currently supports only loans in us dollars or euros. YouHodler is also one of the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler also provides 2 leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the functionality of those features goes beyond this video, you can learn how it operates in our devoted youhodler evaluation on p2pempire. Nexo’s usability resembles Celsius Network. Nexo is likewise utilizing its utility tokens to use much better rates on loans, greater 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 purchase, or exchange crypto if you wish to hold your possessions in different currencies. Now you have a truly solid concept of what every crypto lending 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 anymore and your properties may get compromised either by third 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 anymore. Platforms like Celsius and BlockFi are extremely clear about the reality that you Youhodler Down Reddit

 

The only method to protect your crypto is to store it on a devoted hardware wallet like this one from Trezor. The drawback of this technique is that you will just benefit from the increased worth of your coin but not the interest on your deposits, which is something you can do on one of the crypto lending platforms. Based on our extensive contrast, let’s have a look at our independent rankings of every classification for every platform.