Looking for Buy Bitcoins Without A Loan…A lot 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 business model of private platforms, the return rates, the reliability and track record, functionality of their apps and we will also speak about some of the risks that you need to think about when transferring your crypto on among these platforms. We will also assemble the contrast with our independent score 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 end up being a more informed P2P investor,
consider subscribing and struck the like button to see more content like this in the future. So let’s very first offer you a short introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto loaning platform in the world, which was founded in 2017 by Alex Mashinsky. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their cryptocurrencies and stablecoins. In overall, Celsius manages 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 regulations. BlockFi is the biggest
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The platform provides crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of approved countries. Nexo is another European platform that offers crypto enthusiasts the option to earn interest not just on their coins but also fiat deposits. Nexo is in reality, one of just 2, to us known, crypto lending platforms that offer interest on fiat deposits.
And the platform is likewise preparing to introduce a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the borrowers. That’s at least our analysis from Nexo’s organization model as the platform does not have A dedicated area about
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If you are seeing this video, you want to make money by transferring your coins on one of the platforms? Every platform has specific limitations and terms when it comes to offering interest on your coins. You are just able to make greater rates if you decide to get the interest in Celsius’s own utility token.
You can make 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 uses greater rewards for those who desire to get the interest in the native NEXO tokens rather of the deposited currency. What you must 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. Buy Bitcoins Without A Loan
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At the beginning of January, Nexo had only $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 steep growth even if we consider the hype in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who likewise founded Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our recent research study, the executive board does not even include Antoli, but just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p financing platform, which is understood for the “abuse of customers money”.
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Nexo is the only platform that offers interest on fiat. Now that we have actually evaluated some of the track records of the four pointed out platforms, let’s briefly go over the use of every crypto lending website. While the crypto loans on BlockFi are just available to U.S. citizens, the platform is also working on a Bitcoin benefits credit card which will be completing with the credit card from Crypto.com YouHodler provides some of the most sophisticated services among the crypto lending platforms.
YouHodler is also one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have an actually strong idea of what every crypto lending platform is offering. What you need to think about though, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys anymore and your possessions might get compromised either by 3rd parties or by the platform itself. Buy Bitcoins Without A Loan
The only method to protect your crypto is to keep it on a devoted hardware wallet like this one from Trezor. 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 one of the crypto loaning platforms. Based on our in-depth contrast, let’s have an appearance at our independent rankings of every category for every platform.