Salt Bitcoin Loan Program – Get Crypto Loan Today

Looking for Salt Bitcoin Loan Program…Many of you have actually asked for a contrast between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that allow you to make interest on your cryptocurrencies and stablecoins. As requested, in this video, we will be comparing the business design of individual platforms, the return rates, the reliability and track record, usability of their apps and we will also talk about some of the dangers that you must consider when depositing your crypto on one of these platforms.

 

consider subscribing and hit the like button to see more material like this in the future. Let’s very first provide you a brief introduction 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. Presently, there are over 650,000 users using Celsius Network to take a crypto loan or make interest on their cryptocurrencies and stablecoins. In overall, Celsius manages more than $17 B worth of properties. The platform offers its services worldwide, nevertheless, they are presently not providing loans in the United States due to regional regulations. BlockFi is the largest

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The platform offers crypto-backed loans in 47 US states and their crypto interest account is readily available around the world with exception of sanctioned nations. Nexo is another European platform that offers crypto enthusiasts the option to make interest not just on their coins however also fiat deposits. Nexo is in fact, one of only 2, to us known, crypto lending platforms that provide interest on fiat deposits.

 

And the platform is also planning to release a BlockFi credit card which will create 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 design as the platform doesn’t have A dedicated area about

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this on their site. Now let’s talk about the returns. If you are watching this video, you wish to generate income by depositing your coins on among the platforms right? Prior to we compare the rates, there are a few things that you should think about though. When it comes to providing interest on your coins, every platform has certain limitations and terms. For example, Celsius Network changes the rates every week to show the existing market scenario. Also, you are just able to make higher rates if you choose to get the interest in Celsius’s own utility token. The higher benefit rates are also not offered for United States citizens. If you would not wish to pay your benefits in the CEL token, you can currently 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 assets. The more bitcoin or ethereum you deposit, the less interest you will receive. The rate 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 currently at

 

You can earn 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 higher benefits for those who want to get the interest in the native NEXO tokens rather of the deposited currency. What you should keep in mind is that platforms tend to change the rates from time to time, so you can’t truly predict the genuine return from your deposits. Salt Bitcoin Loan Program

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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 resolving 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 monetary report for 2020, where you will learn that the platform is not lucrative yet. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within the business development area rather than the fintech area. BlockFi is likewise financed by many institutional investors and the platform is primarily targeting the US market. While you can use the crypto interest account worldwide, the crypto loans are readily available Just for U.S residents as BlockFi has the necessary lending licenses just in the U.S. , if you want to examine BlockFi’s stats you will not be happy as there are none readily available.. Some external sources recommend that there are more than 125,000 signed up 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, it seems like he has actually moved to Switzerland to introduce his crypto loaning platform YouHodler in 2017. I know that YouHodler has been praised by some of you in the comments on previous videos, regrettably, the platform isn’t publicly revealing any financial reports, nor data about their user base or properties under YouHodler’s management. When utilizing YouHodler, this is something you should definitely think about. Moving on to Nexo. Nexo declares to manage $12 B worth of properties from more than 1.5 M of users. It would indicate that Nexo is twice as big in terms of user base as Celsius with a much lower average if this is right

 

deposit quantity as compared to the users on the Celsius Network. We are not excited about Nexo’s reporting standards as we have actually 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 five months later on, the platform declares to manage $12B from 1.5 M users, which we believe is a bit of a high growth even if we consider the hype in the crypto space. So what about Nexo’s management? Nexo is co-founded by Antoni Trenchev and Kosta Kantchev. Based upon our research study, Antoni was a Bulgarian politician with experience in the fashion Retail market. On his LinkedIn profile, he explains Nexo as the leading controlled banks 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 Provider OU is based. During our research study, we discovered connections to Bulgaria, Estonia, the UK, and the Cayman Islands however their legal address is nowhere to be discovered on the site. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday loan business that apparently is funding Nexo. According to our recent research study, the executive board doesn’t 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 financing platform, which is known for the “abuse of customers money”. Likewise when evaluating a few of Nexo’s comments from the CEO

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in the media, he is frequently only promoting crypto and forecasting prices but lacks any deeper insights into the crypto loaning space or how Nexo is operating. However that’s just our impression from his Bloomberg talks. Nexo is the only platform that offers interest on fiat. According to our knowledge, you can not offer interest on fiat deposits unless you have a banking license which Nexo definitely does not have. Even though we are not lawyers, we struggle to understand the legal setup under which Nexo is offering its services. Now that we have reviewed some of the track records of the four mentioned platforms, let’s briefly go over the use of every crypto lending site. Celsius has actually started as a native mobile app. The app is well established and it includes various security functions such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see the number of possessions you are holding and what are the presently used rates. You can transfer and withdraw supported coins however there is no exchange, so if you don’t transfer your cryptos from another wallet, you can purchase them straight through the app. Note, however, that there might be charges for credit card purchases or SEPA transfers. Celsius Network supports currently 40 digital possessions. BlockiFi makes a less industrialized impression. The app is very simple therefore is the desktop variation of the platform. BlockFi supports currently only 10 digital currencies. The platform likewise offers a dedicated exchange so you can even trade them. We don’t advise this feature that much as the exchange rates are not the very best. While the crypto loans on BlockFi are only readily available to U.S. citizens, the platform is also working on a Bitcoin rewards credit card which will be competing with the credit card from Crypto.com YouHodler uses a few of the most sophisticated services amongst 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 strong concept of what every crypto financing platform is providing. What you should consider though, is that as quickly as you transfer your crypto on any platform, you are not owning your personal secrets anymore and your properties might get jeopardized either by third parties or by the platform itself. Salt Bitcoin Loan Program

 

The only way to safeguard 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 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 thorough comparison, let’s have an appearance at our independent scores of every classification for every platform.