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Looking for Loan Bitcoin Paxful.Com…Many of you have requested a comparison 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 company model of specific platforms, the return rates, the trustworthiness and track record, usability of their apps and we will also talk about some of the risks that you should consider when depositing your crypto on one of these platforms.

 

Let’s first give you a quick intro to every platform prior to we dive deeper into the comparison. 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 presently not releasing loans in the United States due to local guidelines.

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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 provides crypto enthusiasts the choice to make interest not only on their coins but likewise fiat deposits. Nexo is in fact, one of only two, to us understood, crypto financing platforms that provide 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 also takes a cut from the interest that is being paid by the customers. That’s at least our interpretation from Nexo’s business design as the platform does not have A dedicated area about

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If you are enjoying this video, you desire to make money by transferring your coins on one of the platforms? Every platform has particular limits and terms when it comes to using interest on your coins. You are just able to make greater rates if you decide to receive the interest in Celsius’s own energy token.

 

9% annually. What deserves mentioning 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 fee, as the currency works on the Binance Smart Chain with method lower charges in comparison to stablecoins that work on the ethereum network. The Binance USD coin is currently just supported on Celsius Network and BlockFi. YouHodler uses presently 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 higher rewards for those who wish to receive 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 need to keep in mind is that platforms tend to adjust the rates from time to time, so you can’t really forecast the genuine return from your deposits. Keep in mind that by transferring your crypto, the value of the currency may reduce Which will make it hard for you to liquidate your properties if that’s something you would otherwise consider. So now, that you know the returns let’s briefly review the credibility of the platforms and their track record. Celsius Network is most likely the most legitimate platform in this area. The founder Alex Mashinsky is a well-known entrepreneur. Before launching the Celsius network, he has actually co-founded three start-ups worth more than $1 Billion each. On the Celsius App, you are also able to keep track of the development and examine a few of the data. As we are taping 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 Loan Bitcoin Paxful.Com

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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 rare in this area. The platform is not transparent when it pertains to sharing its monetary reports, but with a little bit of digging, you can get your hands on the monetary report for 2020, where you will discover that the platform is not rewarding yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business development area instead of the fintech area. BlockFi is likewise financed by many 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 Only for U.S residents as BlockFi has the required lending licenses just in the U.S. If you wish to inspect BlockFi’s stats you won’t more than happy as there are none available. Some external sources recommend that there are more than 125,000 registered users, nevertheless, we were unable to verify 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 study, it looks like he has transferred to Switzerland to introduce his crypto financing platform YouHodler in 2017. I know that YouHodler has actually been applauded by a few of you in the talk about previous videos, sadly, the platform isn’t publicly revealing any financial reports, nor statistics about their user base or properties under YouHodler’s management. When using YouHodler, this is something you need to definitely think about. Moving on to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. If this is proper, it would mean that Nexo is two times as huge in terms of user base as Celsius with a much lower average

 

deposit amount as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting requirements as we have explained together with other red flags in our previous video. At the start of January, Nexo had only $4B under its management from 1 M users, now 5 months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a steep growth even if we think about the buzz in the crypto area. What about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based on our research, Antoni was a Bulgarian political leader with experience in the style Retail market. On his LinkedIn profile, he describes Nexo as the leading managed financial institution for digital properties. I would be really interested by whom Nexo is regulated, as the business does not have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be discovered on the website. The second co-founder of Nexo is Kosta Kantchev who also established Credissimo, a Bulgarian payday advance business that obviously is funding Nexo. According to our recent research, the executive board does not even include Antoli, but just Kosta and 2 other gentlemen, from which one is William Arthur Vesilind who was formerly the executive director at TrustBuddy, a Swedish p2p loaning platform, which is understood for the “misuse of clients money”. When examining some of Nexo’s comments from the CEO

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Nexo is the only platform that uses interest on fiat. Now that we have reviewed some of the track records of the four discussed platforms, let’s briefly go over the usability of every crypto loaning site. While the crypto loans on BlockFi are just offered to U.S. citizens, the platform is likewise working on a Bitcoin benefits credit card which will be contending with the credit card from Crypto.com YouHodler provides some of the most innovative services among the crypto financing platforms.

 

currencies on which you have the ability to make interest. YouHodler allows you to exchange between different currencies or deposit fiat by means of bank wire or other supported payment services. The minimum deposit amounts are extremely low, so you do not require to move 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 just earn interest on your crypto properties. Apart from making interest on your deposits or exchanging cryptos, YouHodler likewise uses you the choice to borrow fiat money in exchange for security. The platform currently supports only loans in us dollars or euros. YouHodler is likewise among the platforms with flexible loan terms and a maximum LTV of 90%. Apart from those services, YouHodler also uses two leveraging tools such as Turbocharged loans and Multi HODL, which appropriate for more opportunistic financiers. As the performance of those features exceeds this video, you can find out how it works in our dedicated youhodler evaluation on p2pempire. Nexo’s usability is similar to Celsius Network. Nexo is also utilizing its energy tokens to offer better rates on loans, higher interests on crypto and fiat deposits, or more free withdrawals each month. Also if you decide to stake your coins or fiat, meaning you lock your possessions for a defined term, you can get a higher interest rate. Like BlockFi, Nexo likewise provides you to buy, or exchange crypto if you want to hold your properties in numerous currencies. Now you have a really strong concept of what every crypto lending platform is using. What you need to consider however, is that as soon as you transfer your crypto on any platform, you are not owning your personal secrets anymore and your properties may get jeopardized either by third parties or by the platform itself. It resembles transferring your crypto on the exchange – if you don’t own the keys, the coin isn’t technically yours any longer. Platforms like Celsius and BlockFi are very clear about the truth that you Loan Bitcoin Paxful.Com

 

The only method to safeguard your crypto is to keep it on a devoted hardware wallet like this one from Trezor. The disadvantage 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 extensive comparison, let’s have an appearance at our independent ratings of every classification for every platform.