Looking for How Much Is $100 In Bitcoins…Much of you have requested a comparison in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that enable you to earn interest on your stablecoins and cryptocurrencies. As asked for, in this video, we will be comparing the business design of individual platforms, the return rates, the trustworthiness and performance history, functionality of their apps and we will likewise discuss some of the risks that you need to consider when depositing your crypto on among these platforms. We will also round up the contrast with our independent score of the just-mentioned categories for each platform. So keep watching till completion to discover how we scored private platforms. If you are brand-new to this channel and your objective is to become a more educated P2P investor,
consider subscribing and hit the like button to see more content like this in the future. Let’s first provide you a short introduction to every platform before we dive deeper into the contrast. Celsius Network is the fastest-growing crypto lending platform on the planet, 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 handles more than $17 B worth of possessions. The platform offers 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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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 uses crypto lovers the option to earn interest not just on their coins but likewise fiat deposits. Nexo is in fact, one of just 2, to us known, crypto lending platforms that offer interest on fiat deposits.
And the platform is also preparing to introduce a BlockFi credit card which will generate another income 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 business design as the platform doesn’t have A dedicated area about
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this on their site. Now let’s discuss the returns. If you are watching this video, you want to make money by depositing your coins on one of the platforms right? Before we compare the rates, there are a couple of things that you need to consider however. Every platform has certain limits and terms when it concerns using interest on your coins. So for example, Celsius Network alters the rates each week to show the current market circumstance. You are only able to make higher rates if you decide to get the interest in Celsius’s own utility token. The greater reward rates are likewise not readily available for United States citizens. If you would not wish to pay your rewards 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 number of your possessions. The more bitcoin or ethereum you deposit, the less interest you will receive. The rates of interest for Ethereum varieties 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 presently at
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 provides greater benefits 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 actually forecast the real return from your deposits. How Much Is $100 In Bitcoins
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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 rewarding. BlockFi is also financed by many institutional investors and the platform is primarily targeting the US market. According to our research, it seems like he has relocated to Switzerland to introduce his crypto lending platform YouHodler in 2017.
deposit amount as compared to the users on the Celsius Network. We are not delighted about Nexo’s reporting requirements as we have mentioned together with other red flags in our previous video. At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform declares to handle $12B from 1.5 M users, which we think is a bit of a steep development even if we consider the hype in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research study, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he explains Nexo as the leading managed banks for digital properties. I would be truly interested by whom Nexo is managed, as the company does not have a loaning license in Estonia, where they are a legal entity Nexo Provider OU is based. During our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is nowhere to be found on the site. The 2nd co-founder of Nexo is Kosta Kantchev who likewise established Credissimo, a Bulgarian payday advance loan business that obviously is funding Nexo. According to our current research, the executive board does not even include Antoli, however only Kosta and two other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p lending platform, which is known for the “misuse of clients cash”. When reviewing some of Nexo’s comments from the CEO
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Nexo is the only platform that offers interest on fiat. Now that we have evaluated some of the track records of the four mentioned platforms, let’s briefly go over the use of every crypto lending website. While the crypto loans on BlockFi are only readily available to U.S. residents, the platform is likewise working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler provides some of the most advanced services amongst the crypto lending platforms.
currencies on which you are able to earn interest. YouHodler allows you to exchange between numerous currencies or deposit fiat through bank wire or other supported payment services. The minimum deposit quantities are very low, so you don’t require to transfer numerous Euros or Dollars to check the platform. The minimum deposit is around 50 EUR or USD worth of cryptocurrency. As YouHodler does not have a banking license, you can just make interest on your crypto possessions. Apart from making interest on your deposits or exchanging cryptos, YouHodler also offers you the option to borrow fiat money in exchange for security. The platform currently supports only loans in us euros or dollars. YouHodler is also among the platforms with flexible loan terms and an optimum LTV of 90%. Apart from those services, YouHodler likewise provides two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic investors. As the functionality of those functions surpasses this video, you can discover how it works in our dedicated youhodler evaluation on p2pempire. Nexo’s usability is similar to Celsius Network. Nexo is also using its utility tokens to provide much better rates on loans, greater interests on crypto and fiat deposits, or more complimentary withdrawals per month. Also if you choose to stake your coins or fiat, meaning you lock your properties for a defined term, you can get a greater rates of interest. Like BlockFi, Nexo also offers you to purchase, or exchange crypto if you want to hold your possessions in various currencies. Now you have an actually strong idea of what every crypto financing platform is providing. What you need to consider however, is that as soon as you transfer your crypto on any platform, you are not owning your personal keys anymore and your assets may get compromised either by third parties or by the platform itself. It’s like transferring your crypto on the exchange – if you do not own the secrets, the coin isn’t technically yours anymore. Platforms like Celsius and BlockFi are extremely clear about the reality that you How Much Is $100 In Bitcoins
The only method to secure your crypto is to save it on a devoted hardware wallet like this one from Trezor. The drawback 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 contrast, let’s have an appearance at our independent scores of every classification for every platform.