Loans For Bitcoin Miners – Get Crypto Loan Today

Looking for Loans For Bitcoin Miners…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 cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the company model of specific platforms, the return rates, the reliability and track record, functionality of their apps and we will also talk about some of the threats that you ought to consider when depositing your crypto on one of these platforms.

 

Let’s first give you a short introduction to every platform before we dive deeper into the comparison. Celsius Network is the fastest-growing crypto lending platform in the world, which was established in 2017 by Alex Mashinsky. The platform offers its services worldwide, nevertheless, they are currently not releasing loans in the United States due to regional policies.

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The platform provides crypto-backed loans in 47 US states and their crypto interest account is available around the world with exception of approved countries. Nexo is another European platform that offers crypto enthusiasts the alternative to make interest not just on their coins but also fiat deposits. Nexo is in fact, one of only two, to us understood, crypto lending platforms that offer interest on fiat deposits.

 

And the platform is also planning 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 customers. That’s at least our analysis from Nexo’s business design as the platform doesn’t have A devoted section 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 certain limits and terms when it comes to providing interest on your coins. You are only able to earn greater rates if you decide to get the interest in Celsius’s own energy token.

 

9% per year. What deserves mentioning is that if you want to save some fees, and bring more stability into your crypto interest account, you can also deposit the Binance USD coin for which you will not need to pay the significant gas cost, as the currency operates on the Binance Smart Chain with method lower fees in comparison to stablecoins that run on the ethereum network. The Binance USD coin is presently just supported on Celsius Network and BlockFi. YouHodler provides presently the most competitive rates for your USDC coins without the need 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 uses higher benefits for those who wish 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 must remember is that platforms tend to adjust the rates from time to time, so you can’t really anticipate the real return from your deposits. Keep in mind that by depositing 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 think about. So now, that you understand the returns let’s briefly evaluation the trustworthiness of the platforms and their performance history. Celsius Network is most likely the most genuine platform in this area. The founder Alex Mashinsky is a well-known business owner. Before introducing 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 examine a few of the data. As we are recording this video, there are over 650,000 users and the platform is managing $17 billion worth of assets. Alone in the last 12 months, Celsius has Loans For Bitcoin Miners

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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 monetary report for 2020, where you will find out that the platform is not successful. BlockFi is likewise funded by numerous institutional investors and the platform is generally targeting the United States market. According to our research, it appears like he has actually transferred to Switzerland to release his crypto financing platform YouHodler in 2017.

 

At the beginning of January, Nexo had only $4B under its management from 1 M users, now 5 months later, the platform claims to manage $12B from 1.5 M users, which we think is a bit of a high development even if we think about the hype in the crypto space. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that obviously is funding Nexo. According to our current research study, the executive board doesn’t even consist of 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 known for the “misuse of clients cash”.

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in the media, he is typically only promoting crypto and forecasting prices however does not have any deeper insights into the crypto lending space or how Nexo is operating. That’s just our impression from his Bloomberg talks. Also, Nexo is the only platform that offers interest on fiat. According to our understanding, you can not use 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 offering its services. So now that we have actually examined a few of the performance history of the 4 pointed out platforms, let’s briefly discuss the usability of every crypto lending site. Celsius has started as a native mobile app. The app is well developed and it includes numerous security functions such as the biometric scan, HODL mode, and 2FA. In the dashboard, you are able to see how many properties you are holding and what are the currently offered rates. You can move and withdraw supported coins but there is no exchange, so if you do not transfer your cryptos from another wallet, you can buy them directly through the app. Note, nevertheless, that there might be costs for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital assets. BlockiFi makes a less developed impression. The app is very 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 recommend this feature that much as the currency exchange rate are not the best. While the crypto loans on BlockFi are just available to U.S. citizens, the platform is likewise dealing with a Bitcoin benefits credit card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most innovative services amongst the crypto loaning platforms. Currently, 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 truly solid idea of what every crypto loaning platform is using. What you need to think about though, is that as soon as you deposit your crypto on any platform, you are not owning your private secrets anymore and your properties might get compromised either by third celebrations or by the platform itself. Loans For Bitcoin Miners

 

The only method to secure your crypto is to save it on a dedicated hardware wallet like this one from Trezor. The disadvantage of this strategy is that you will only benefit from the increased worth 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 in-depth comparison, let’s have a look at our independent rankings of every classification for every platform.