Youhodler Trustpilot 2022 – Now FAQ

Looking for Youhodler Trustpilot…Much of you have asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business design of private platforms, the return rates, the trustworthiness and performance history, usability of their apps and we will also speak about a few of the dangers that you need to think about when transferring your crypto on one of these platforms. We will also round up the contrast with our independent ranking of the just-mentioned classifications for every platform. So keep watching until 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

 

think about subscribing and struck the like button to see more content like this in the future. Let’s very first offer you a short introduction to every platform before 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. Presently, there are over 650,000 users utilizing Celsius Network to earn or take a crypto loan interest on their stablecoins and cryptocurrencies. In total, Celsius manages more than $17 B worth of properties. The platform uses its services worldwide, nevertheless, they are currently not releasing loans in the United States due to regional guidelines. BlockFi is the largest

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rival to Celsius Network. The US-based business has trading and financing licenses in different US states. , if you are looking for a wealth-management app for your crypto assets BlockFi is definitely worth considering.. The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned nations. YouHodler is most likely the most legitimate crypto lending platform in Europe. The business is registered in Cyprus, with a devoted branch in Switzerland. YouHodler offers very competitive rates on your crypto possessions along with several other features which you will not find on any other platforms. The platform is readily available in many nations with the exception of Germany and the U.S.A.. So if you live in the states, you won’t have the ability to utilize YouHodler’s services. Nexo is another European platform that uses crypto lovers the alternative to make interest not only on their coins however also fiat deposits. Nexo remains in reality, among only 2, to us understood, crypto loaning platforms that offer interest on fiat deposits. The platform offers its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief introduction of every platform

 

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 customers. That’s at least our interpretation from Nexo’s company design as the platform doesn’t have A dedicated area about

money fees on celsius services priced about stablecoins  profit margin Youhodler Trustpilot

this on their website. Now let’s talk about the returns. If you are enjoying this video, you want to make cash by transferring your coins on one of the platforms? Before we compare the rates, there are a couple of things that you need to think about. When it comes to offering interest on your coins, every platform has particular limitations and terms. So for example, Celsius Network alters the rates every week to show the present market situation. You are only able to make greater rates if you decide to receive the interest in Celsius’s own energy token. The greater benefit rates are also not available for United States residents. If you would not wish to pay out your benefits in the CEL token, you can currently expect 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 rate of interest for Ethereum ranges 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 currently at

 

You can earn 12% interest on your USDC holdings and the platform uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides higher benefits for those who want to get the interest in the native NEXO tokens rather of the deposited currency. What you need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really anticipate the real return from your deposits. Youhodler Trustpilot

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paid more than $367 M worth of benefits. While we haven’t managed to get answers to our questions, 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 monetary 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 rewarding. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business advancement space rather than the fintech space. BlockFi is likewise financed by many institutional investors and the platform is primarily targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are offered Only for U.S residents as BlockFi has the necessary lending licenses only in the U.S. , if you want to inspect BlockFi’s statistics you will not be happy as there are none offered.. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were not able to confirm 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 looks like he has moved 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, regrettably, the platform isn’t publicly exposing any financial reports, nor stats about their user base or properties under YouHodler’s management. When using YouHodler, this is something you should certainly consider. Proceeding to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. It would suggest that Nexo is two times as big in terms of user base as Celsius with a much lower average if this is appropriate

 

deposit quantity as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting standards as we have actually mentioned together with other warnings in our previous video. At the beginning of January, Nexo had just $4B under its management from 1 M users, now five months later on, the platform claims to manage $12B from 1.5 M users, which we think is a bit of a steep growth 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 upon our research, Antoni was a Bulgarian politician with experience in the style Retail industry. On his LinkedIn profile, he explains Nexo as the leading managed financial institution for digital possessions. I would be really interested by whom Nexo is controlled, as the business does not have a loaning license in Estonia, where they are a legal entity Nexo Solutions OU is based. Throughout our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday advance company that apparently is funding Nexo. According to our current research study, the executive board does not even consist of Antoli, but only 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 reviewing some of Nexo’s remarks from the CEO

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in the media, he is often only promoting crypto and predicting prices however lacks any much deeper insights into the crypto lending space or how Nexo is operating. But that’s simply our impression from his Bloomberg talks. Nexo is the only platform that offers 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. Although we are not lawyers, we struggle to understand the legal setup under which Nexo is providing its services. So now that we have actually examined some of the track records of the 4 pointed out platforms, let’s briefly go over the use of every crypto lending site. Celsius has begun as a native mobile app. The app is well established and it comes with different security functions such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how many assets you are holding and what are the currently provided rates. You can move and withdraw supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can acquire them straight through the app. Note, nevertheless, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital properties. BlockiFi makes a less industrialized impression. The app is extremely simple and so is the desktop version of the platform. BlockFi supports presently only 10 digital currencies. The platform also offers a devoted exchange so you can even trade them. We don’t advise this function that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only available to U.S. people, the platform is likewise working on a Bitcoin benefits charge card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most sophisticated services amongst the crypto loaning platforms. Currently, the platform supports 18 digital

 

YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have an actually strong concept of what every crypto financing platform is offering. What you must think about however, is that as quickly as you deposit your crypto on any platform, you are not owning your private keys any longer and your assets may get jeopardized either by 3rd parties or by the platform itself. Youhodler Trustpilot

 

The only method to protect your crypto is to store it on a dedicated hardware wallet like this one from Trezor. The downside of this strategy is that you will only 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 lending platforms. Based on our thorough comparison, let’s have a look at our independent rankings of every category for every platform.