Crypto-to-crypto Loans Use Cases – Get Crypto Loan Today

Looking for Crypto-to-crypto Loans Use Cases…Many of you have actually requested a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to earn interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the service model of individual platforms, the return rates, the trustworthiness and track record, usability of their apps and we will likewise talk about some of the threats that you need to consider when depositing your crypto on one of these platforms.

 

consider subscribing and struck the like button to see more material like this in the future. So let’s very first provide you a quick intro to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto financing platform in the world, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users using Celsius Network to make or take a crypto loan interest on their cryptocurrencies and stablecoins. In total, Celsius manages more than $17 B worth of possessions. The platform offers its services worldwide, nevertheless, they are presently not issuing loans in the United States due to local policies. BlockFi is the biggest

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The platform offers crypto-backed loans in 47 US states and their crypto interest account is offered around the world with exception of sanctioned countries. Nexo is another European platform that offers crypto enthusiasts the alternative to make interest not just on their coins however likewise fiat deposits. Nexo is in reality, one of only two, to us known, crypto lending platforms that provide interest on fiat deposits.

 

And the platform is likewise preparing to launch a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the borrowers. That’s at least our interpretation from Nexo’s organization model as the platform does not have A dedicated section about

money fees on celsius services priced about stablecoins  profit margin Crypto-to-crypto Loans Use Cases

this on their website. Now let’s discuss the returns. If you are enjoying this video, you desire to make cash by depositing your coins on one of the platforms? Before we compare the rates, there are a couple of things that you ought to consider however. When it comes to offering interest on your coins, every platform has certain limits and terms. For example, Celsius Network changes the rates every week to reflect the existing market situation. You are just able to earn greater rates if you decide to get the interest in Celsius’s own utility token. The higher reward rates are also not available for US residents. If you would not wish to pay out your benefits in the CEL token, you can presently 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 on the variety of your properties. The more bitcoin or ethereum you deposit, the less interest you will get. The interest rate for Ethereum ranges 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% each year. What deserves pointing out is that if you want to conserve some charges, and bring more stability into your crypto interest account, you can also deposit the Binance USD coin for which you will not require to pay the large gas fee, as the currency runs on the Binance Smart Chain with way lower fees in contrast to stablecoins that work on the ethereum network. The Binance USD coin is presently only supported on Celsius Network and BlockFi. YouHodler uses presently the most competitive rates for your USDC coins without the requirement to stake the platform’s own utility tokens. You can earn 12% interest on your USDC holdings and the platform offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides greater benefits for those who want to get 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 actually predict the genuine return from your deposits. Keep in mind that by transferring your crypto, the worth of the currency might reduce Which will make it hard for you to liquidate your possessions if that’s something you would otherwise think about. So now, that you are aware of the returns let’s briefly review the reliability of the platforms and their track record. Celsius Network is likely the most legitimate platform in this area. The founder Alex Mashinsky is a popular business owner. Before launching the Celsius network, he has co-founded three startups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the progress and evaluate some 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 assets. Alone in the last 12 months, Celsius has Crypto-to-crypto Loans Use Cases

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paid out more than $367 M worth of rewards. While we have not managed to get answers to our concerns, 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 space. The platform is not transparent when it comes to sharing its financial reports, but with a little bit of digging, you can get your hands on the financial report for 2020, where you will discover 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 development area instead of the fintech area. BlockFi is likewise funded by numerous institutional financiers and the platform is generally targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are available Just for U.S people as BlockFi has the necessary financing licenses just in the U.S. If you wish to check BlockFi’s stats you will not more than happy as there are none readily available. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were unable to confirm any of those claims straight with BlockFi. YouHodler is founded by Ilya Volkov, who brings previous experience from the fintech space in Russia. According to our research, it appears like he has relocated to Switzerland to launch his crypto lending platform YouHodler in 2017. I know that YouHodler has been applauded by some of you in the discuss previous videos, sadly, the platform isn’t openly revealing any financial reports, nor stats about their user base or properties under YouHodler’s management. This is something you need to certainly think about when utilizing YouHodler. Moving on to Nexo. Nexo claims to manage $12 B worth of properties from more than 1.5 M of users. If this is correct, it would imply that Nexo is twice as big in regards to user base as Celsius with a much lower average

 

At the start of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform declares to handle $12B from 1.5 M users, which we believe is a bit of a high development even if we consider the buzz in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday loan business that apparently is financing Nexo. According to our current research, the executive board does not even consist of Antoli, but only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p loaning platform, which is known for the “misuse of clients money”.

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Nexo is the only platform that uses interest on fiat. Now that we have actually reviewed some of the track records of the 4 mentioned platforms, let’s briefly go over the functionality of every crypto loaning site. While the crypto loans on BlockFi are only available to U.S. people, the platform is also working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler offers some of the most innovative services among the crypto loaning platforms.

 

YouHodler is likewise one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have a really solid concept of what every crypto lending platform is offering. What you should consider though, is that as soon as you deposit your crypto on any platform, you are not owning your personal keys any longer and your assets may get compromised either by 3rd parties or by the platform itself. Crypto-to-crypto Loans Use Cases

 

quit your ownership of the properties as long as you hold them in the platform’s wallet. The only way to secure your crypto is to save it on a devoted hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The drawback of this method is that you will only take advantage of the increased worth of your coin however not the interest on your deposits, which is something you can do on one of the crypto loaning platforms. As with any financial investment, it constantly comes down to the risk and return and your danger profile. Based on our extensive contrast, let’s have an appearance at our independent rankings of every category for every platform. Keep in mind, that we have actually designated the scores based on our own research study. One represents the lowest score while 5 mean the greatest score. Within business model classification.

“Crypto-to-crypto” Loans Use Cases – Get Crypto Loan Today

Looking for “Crypto-to-crypto” Loans Use Cases…Numerous of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the organization 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 must consider when transferring your crypto on one of these platforms.

 

think about subscribing and hit the like button to see more material like this in the future. Let’s first give you a short intro to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform in the world, which was founded in 2017 by Alex Mashinsky. Currently, there are over 650,000 users using Celsius Network to take a crypto loan or earn interest on their stablecoins and cryptocurrencies. In overall, Celsius manages more than $17 B worth of assets. The platform uses its services worldwide, however, they are presently not releasing loans in the United States due to local guidelines. BlockFi is the biggest

youhodler crypto interest loans, platform for users

rival to Celsius Network. The US-based business has trading and financing licenses in various US states. , if you are looking for a wealth-management app for your crypto assets BlockFi is definitely worth considering.. The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of approved nations. YouHodler is likely the most legitimate crypto lending platform in Europe. The company is signed up in Cyprus, with a devoted branch in Switzerland. YouHodler uses very competitive rates on your crypto assets in addition to several other functions which you will not discover on any other platforms. The platform is offered in lots of nations with the exception of Germany and the U.S.A.. If you live in the states, you will not be able to utilize YouHodler’s services. Nexo is another European platform that uses crypto lovers the alternative to earn interest not only on their coins but also fiat deposits. Nexo is in truth, among only two, to us understood, crypto lending platforms that offer interest on fiat deposits. The platform uses its services worldwide, with exception of Bulgaria and Estonia. Now that you have a brief introduction of every platform

 

And the platform is likewise planning to release a BlockFi credit card which will produce another earnings stream. Like all the other platforms, Nexo likewise takes a cut from the interest that is being paid by the customers. That’s at least our interpretation from Nexo’s business model as the platform does not have A dedicated area about

money fees on celsius services priced about stablecoins  profit margin “Crypto-to-crypto” Loans Use Cases

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 among the platforms right? Before we compare the rates, there are a few things that you need to think about though. Every platform has particular limits and terms when it comes to providing interest on your coins. For example, Celsius Network alters the rates every week to show the existing market scenario. You are only able to make greater rates if you decide to receive the interest in Celsius’s own energy token. The higher benefit rates are likewise not offered for US residents. If you would not want to pay your rewards in the CEL token, you can presently expect 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 on the number of your assets. 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

 

9% each year. What’s worth pointing out is that if you wish to conserve some fees, and bring more stability into your crypto interest account, you can also transfer the Binance USD coin for which you will not require to pay the large gas charge, as the currency works on the Binance Smart Chain with method lower costs in comparison to stablecoins that work 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 energy tokens. You can earn 12% interest on your USDC holdings and the platform offers 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that uses greater benefits for those who want to receive the interest in the native NEXO tokens instead of the deposited currency. The platform offers 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 adjust the rates from time to time, so you can’t actually anticipate the real return from your deposits. Likewise, bear in mind that by transferring your crypto, the worth of the currency may reduce Which will make it hard for you to liquidate your possessions if that’s something you would otherwise consider. Now, that you are aware of the returns let’s briefly review the credibility of the platforms and their track record. Celsius Network is most likely the most genuine platform in this space. The founder Alex Mashinsky is a popular entrepreneur. Prior to introducing the Celsius network, he has actually co-founded 3 startups worth more than $1 Billion each. On the Celsius App, you are likewise able to monitor the development and evaluate some of the data. 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 “Crypto-to-crypto” Loans Use Cases

bitcoin amount of lending service with value feature trading

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 monetary report for 2020, where you will discover out that the platform is not lucrative. BlockFi is likewise funded by lots of institutional investors and the platform is mainly targeting the US market. According to our research, it appears like he has transferred to Switzerland to introduce his crypto loaning platform YouHodler in 2017.

 

At the start of January, Nexo had only $4B under its management from 1 M users, now five months later, the platform declares to manage $12B from 1.5 M users, which we think is a bit of a high development even if we consider the hype in the crypto area. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan company that obviously is funding Nexo. According to our recent research study, the executive board does not even consist of Antoli, but just Kosta and two other gentlemen, from which one is William Arthur Vesilind who was previously the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “abuse of clients cash”.

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in the media, he is frequently only promoting crypto and predicting prices but lacks any much deeper insights into the crypto loaning space or how Nexo is running. However that’s just our impression from his Bloomberg talks. Nexo is the only platform that offers interest on fiat. According to our understanding, you can not provide interest on fiat deposits unless you have a banking license which Nexo certainly does not have. Even though we are not lawyers, we struggle to understand the legal setup under which Nexo is using its services. So now that we have reviewed some of the track records of the 4 pointed out platforms, let’s briefly go over the use of every crypto financing website. Celsius has actually started as a native mobile app. The app is well developed and it includes different security features such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see how many assets you are holding and what are the presently provided rates. You can transfer and withdraw supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can acquire them directly through the app. Note, nevertheless, that there might be fees for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less industrialized impression. The app is extremely easy therefore is the desktop variation of the platform. BlockFi supports presently only 10 digital currencies. The platform also provides a devoted exchange so you can even trade them. We don’t suggest this function that much as the exchange rates are not the best. While the crypto loans on BlockFi are only available 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 offers a few of the most advanced services among the crypto financing platforms. Presently, the platform supports 18 digital

 

YouHodler is likewise one of the platforms with versatile loan terms and a maximum LTV of 90%. Now you have a really solid concept of what every crypto lending platform is providing. What you should consider however, is that as quickly as you transfer your crypto on any platform, you are not owning your personal keys any longer and your possessions may get compromised either by 3rd celebrations or by the platform itself. “Crypto-to-crypto” Loans Use Cases

 

The only method to safeguard your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this technique 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 financing platforms. Based on our in-depth comparison, let’s have a look at our independent rankings of every category for every platform.