Looking for Youhodler Bitcoin Payment…A number of you have asked for a contrast in between Celsius, BlockFi, YouHodler, and Nexo which are all platforms that permit you to make interest on your stablecoins and cryptocurrencies. As requested, in this video, we will be comparing the business design of private platforms, the return rates, the reliability and performance history, usability of their apps and we will likewise talk about a few of the threats that you must think about when transferring your crypto on one of these platforms. We will also round up the comparison with our independent rating of the just-mentioned classifications for each platform. So keep watching up until completion to discover how we scored individual platforms. if you are new to this channel and your goal is to end up being a more educated P2P investor
think about subscribing and struck the like button to see more material like this in the future. Let’s first provide you a quick intro to every platform prior to we dive deeper into the contrast. 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 utilizing Celsius Network to take a crypto loan or make interest on their cryptocurrencies and stablecoins. In total, Celsius handles more than $17 B worth of properties. The platform provides its services worldwide, however, they are currently not issuing loans in the United States due to regional regulations. BlockFi is the biggest
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The platform uses crypto-backed loans in 47 US states and their crypto interest account is readily available worldwide with exception of sanctioned nations. Nexo is another European platform that provides crypto lovers the choice to make interest not only on their coins but likewise fiat deposits. Nexo is in fact, one of only 2, to us known, crypto lending platforms that offer interest on fiat deposits.
let’s speak about how they earn money in the first place. So Celsius makes money from the interest they credit the borrowers which are either retail debtors or institutions, they likewise make money from their CEL token which is an utility token that you can utilize to increase your benefits on Celsius Network. Another income stream is the rehypothecation which suggests that Celsius uses the collateral from the debtors and releases it in order to generate additional earnings. BlockFi is likewise making money through the interest that is being credited debtors. The platform likewise charges a 2% origination charge for anyone who wants to take a loan. Another income stream is BlockFi’s exchange feature. The platform makes money from the spread when exchanging currencies. BlockFi likewise charges withdrawal charges after your one totally free withdrawal per month. And the platform is likewise preparing to release a BlockFi credit card which will generate another earnings stream. YouHodler is also making money from the interest credited debtors. In addition to that, there is a little withdrawal cost and costs for additional services such as the Multi HODL tool, which is a feature that lets you utilize your crypto assets in exchange for possible returns. Like all the other platforms, Nexo also takes a cut from the interest that is being paid by the debtors. Nexo likewise makes revenues with their Nexo token. That’s at least our interpretation from Nexo’s company design as the platform doesn’t have A devoted section about
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this on their website. Now let’s discuss the returns. If you are watching this video, you want to generate income by transferring your coins on one of the platforms right? Before we compare the rates, there are a couple of things that you need to think about however. Every platform has particular limits and terms when it concerns using interest on your coins. So for instance, Celsius Network alters the rates each week to reflect the current market scenario. You are only able to earn higher rates if you decide to receive the interest in Celsius’s own energy token. The higher reward rates are also not available for US people. If you would not wish to pay your rewards 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 number of your assets. The more bitcoin or ethereum you deposit, the less interest you will get. The rate of interest for Ethereum ranges between 0.5% and 4.5%, the rate for bitcoin is 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 uses 5.5% on Ethereum and 4.8% on your bitcoin deposits. Nexo is another platform that provides higher rewards for those who desire 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 adjust the rates from time to time, so you can’t actually predict the genuine return from your deposits. Youhodler Bitcoin Payment
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paid 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 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 monetary reports, but 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 lucrative. BlockFi is co-founded by Zac Prince and Flori Marquez. The CEO Zac Prince has more experience within business advancement area instead of the fintech space. BlockFi is also financed by lots of institutional investors and the platform is mainly targeting the United States market. While you can use the crypto interest account worldwide, the crypto loans are offered Just for U.S citizens as BlockFi has the necessary financing licenses only in the U.S. , if you desire to check BlockFi’s data you will not be happy as there are none offered.. Some external sources suggest that there are more than 125,000 signed up users, nevertheless, we were unable to validate any of those claims directly 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 actually moved to Switzerland to launch his crypto loaning platform YouHodler in 2017. I know that YouHodler has been applauded by some of you in the comments on previous videos, regrettably, the platform isn’t openly exposing any financial reports, nor stats about their user base or possessions under YouHodler’s management. This is something you must definitely consider when utilizing YouHodler. Carrying on to Nexo. Nexo declares to handle $12 B worth of properties from more than 1.5 M of users. If this is right, it would indicate that Nexo is two times as huge in regards to user base as Celsius with a much lower average
deposit amount as compared to the users on the Celsius Network. We are not thrilled about Nexo’s reporting requirements as we have actually mentioned together with other warnings 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 manage $12B from 1.5 M users, which we think is a bit of a steep growth even if we consider the hype in the crypto area. 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 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 company doesn’t have a financing license in Estonia, where they are a legal entity Nexo Solutions OU is based. During our research study, we found connections to Bulgaria, Estonia, the UK, and the Cayman Islands but their legal address is no place to be found on the website. The 2nd co-founder of Nexo is Kosta Kantchev who also founded Credissimo, a Bulgarian payday advance company that apparently is funding Nexo. According to our recent research study, the executive board does not even consist of 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 lending platform, which is understood for the “misuse of customers money”. Also when evaluating a few of Nexo’s comments from the CEO
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in the media, he is typically only promoting crypto and predicting prices but does not have any much deeper insights into the crypto loaning space or how Nexo is operating. That’s just our impression from his Bloomberg talks. Likewise, Nexo is the only platform that uses 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. Despite the fact that we are not legal representatives, we have a hard time to comprehend the legal setup under which Nexo is providing its services. So now that we have examined a few of the track records of the four mentioned platforms, let’s briefly review the use of every crypto lending website. Celsius has started as a native mobile app. The app is well established and it comes with different security features such as the biometric scan, HODL mode, and 2FA. Right in the dashboard, you are able to see how many possessions you are holding and what are the presently offered rates. You can withdraw and move supported coins but there is no exchange, so if you don’t deposit your cryptos from another wallet, you can buy them straight through the app. Note, however, that there might be costs for charge card purchases or SEPA transfers. Celsius Network supports presently 40 digital assets. BlockiFi makes a less developed impression. The app is extremely basic therefore is the desktop version of the platform. BlockFi supports currently just 10 digital currencies. The platform likewise provides a dedicated 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 working on a Bitcoin rewards charge card which will be taking on the charge card from Crypto.com YouHodler offers some of the most advanced services amongst the crypto lending platforms. Currently, the platform supports 18 digital
YouHodler is also one of the platforms with flexible loan terms and an optimum LTV of 90%. Now you have a truly solid idea of what every crypto financing platform is offering. What you must consider though, is that as quickly as you deposit your crypto on any platform, you are not owning your private secrets any longer and your properties might get jeopardized either by 3rd celebrations or by the platform itself. Youhodler Bitcoin Payment
give up your ownership of the properties as long as you hold them in the platform’s wallet. The only way to protect your crypto is to keep it on a dedicated hardware wallet like this one from Trezor. That’s the very best way to keep your cryptos safe. The downside 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 financing platforms. But, similar to any financial investment, it always boils down to the risk and return and your threat profile. So based upon our in-depth comparison, let’s take a look at our independent scores of every category for every single platform. Keep in mind, that we have actually assigned the scores based upon our own research. One represents the lowest rating while five mean the highest ranking. Within the business model category.