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Youhodler vs Nexo: Pros, Cons and Which is Better?

Which is the best, Youhodler vs Nexo? We take a look at both and let you know which you should be using. Read more here.


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  • Ease of use
  • Security
  • Support
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Pros and cons of Youhodler

Pros

  • High interest rates of up to 12% compounding
  • Supports top 15 cryptocurrencies
  • You can pay, store and exchange on the platform
  • Instant credit card and bank withdrawals
  • Minimum loans start at just $100
  • The highest loan to value ratio in the industry (90 percent)
  • Instant loans without any credit checks
  • No need to stake native tokens to get higher interest rates on savings accounts
  • A constantly growing list of collateral options (currently more than 20)
  • Four fiat currency options (USD, EUR, GBP, CHF)
  • Unlimited loan terms
  • Weekly interest payouts
  • The option to receive loans in Bitcoin (BTC)
  • $150 million pooled crime insurance from Ledger Vault
  • Creative tools like Multi HODL that help users profit in both bull and bear markets
  • Web, iOS and Android apps
  • 24/7 customer support with live agents

Cons

  • The platform isn't available in China or the United States
  • Individuals using the platform are also subject to higher fees on loans than you'll find with other options such as BlockFi
  • Lack of an insured custodian for user funds
  • Many Android users also complain that the app comes with plenty of bigs and glitches
  • High interest rates on long term loans
  • Reliance on a small self-established insurance fund

Pros and cons of Nexo

Pros

  • $375 million insurance and custodied with Ledger Vault
  • Easy to use app and website.
  • Support for business accounts.
  • Nexo’s information security management systems are ISO/IEC 27001:2013 compliant after extensive audits, inspections, and checks by CISQ, a member of IQNet and the world’s largest provider of management system certification.
  • Full flexibility — no lock-in periods, withdraw at any time.
  • No withdrawal, transaction, or platform fees.
  • Earn 30% extra interest when earning with Nexo tokens.
  • High levels of asset liquidity.
  • Free Nexo card for daily transactions.
  • Over 4 billion processed and 1+ million clients.
  • No hidden fees.
  • No credit score checks.
  • Guaranteed approval.
  • Nexo's crypto brokerage service offers 75+ crypto & fiat pairs. It also offers zero price fluctuations when user places an order.

Cons

  • Nexo mandates holding NEXO tokens to receive the best loan and savings rates.
  • The $375 million insurance is cumulative for all clients, and it only applies to assets that are kept in cold Ledger Vault wallets.
  • Even though Nexo does not mention re-hypothecation anywhere, it seems like it's applicable.
  • In some cases, lender interest rates are higher than borrower rates.
Promoted

Risk-free and high-yield tool to store your coins

  • Earn up to 12% APR on EURS, USDT, ETH, XRP, and 20+ more coins
  • Weekly compound interest payouts
  • Universal conversion between all crypto, fiat, and stablecoins
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Platforms
Coins

Frequently asked questions about Youhodler

We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

Where is YouHodler based?

YouHodler are based in Cyprus and have operations in Switzerland. Their Cyprus address is: Arch Makariou III, 172, Melford Tower, 3027 Limassol, Cyprus

Can YouHodler be trusted?

YouHodler is a real company, paying real interest, however, like all companies on this platform, we do recommend to always do your own research and only invest what you’re comfortable with. It’s also worth researching things like their LTV to determine how much loan risk they are exposed to when deciding which company to deposit your funds with or when taking a loan.

What products does YouHodler offer?

When you create an account with YouHodler, you gain access to two core products and two supplemental products. The core products are crypto savings accounts and crypto loans.

The supplemental products include Multi-Hodl and Turbocharge. Get more details about the platform's products and what they can do for you.

Who should consider using Youhodler?

The YouHodler platform delivers a well-rounded experience to customers. That means you'll find everything you could want as a crypto investor and owner in one spot. 

If you're looking for one place where you can handle all of your financial services, YouHodler offers solutions with its digital assets.

How does the Youhodler wallet work?

Designed for efficiency and simplicity, the YouHodler wallet lets you transfer your cryptos. You can also convert digital assets to fiat currencies and hold funds for investment. In terms of options, YouHodler offers wallet designs exclusively for Bitcoin and 14 other popular cryptos. 

Your YouHodler Wallet is where you'll manage a variety of features offered by the platform. You can keep track of everything from earnings to account balances here. The platform maintains partnerships with a handful of institutions to facilitate the HODLing of fiat currencies securely and safely. 

Through your YouHodler wallet, you can manage your investments, opening savings accounts, and loan applications and accounts.

Why apply for a loan through Youhodler?

What's one of the things that customers find most unique about YouHodler? Its ability to provide customers with loans. Consider these loans as a means of hedge financing. These loans also provide you with flexibility when it comes to accessing crypto trading markets. 

A crypto-backed loan through YouHodler also gives you access to fiat currency while still HODLing your crypto assets. It reduces the risk accompanying investment choices and provides you with more overall flexibility as an investor.

Frequently asked questions about Nexo

We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

How Does It Work?

As their slogan suggests, Nexo supports you to bank on crypto. Lending with this platform, you can earn 12% interest that compounds and pays out daily. If you borrow on the platform, you will have a starting APR of 5.9%.

On top of all this, you make your deposits and withdrawals whenever you like without limits. And for automatic approvals, there are no credit checks. The platform supports over 40 fiat currencies in over 200 countries of supported transaction locale.

How to Borrow Cash With Nexo?

You can instantly borrow fiat from Nexo by using crypto as collateral. As mentioned earlier, they support over 40+ currencies, and you can spend it how you like with your method of choice or with a Nexo card.

Once again, to borrow, login to your account. Select supported crypto and "Top Up". Send your crypto to the address and you're set. It's the same process as lending crypto.

Behind the deposit, you will see your credit line, which you can use instantly. You can transfer to a bank or use it with your Nexo card. With the Instant Crypto Credit Line, you can make use of a variety of crypto to back your loan. This ensures that you are less vulnerable to crypto volatility

Nexo provides a 50% discount on the final amount. If your outstanding balance is within the loan limit, you don't need to make monthly payments. Once you fully repay the loan, you can withdraw your assets from the wallet. You can also choose to start a new line of credit with the collateral.

When it comes to loan limits, it's determined by the market value of your assets used as collateral. If your assets increase in value, the Nexo Oracle (Nexo AI) will increase your loan limit automatically.

How to Use Your Crypto On Nexo?

Before you can deposit your digital assets, you have to confirm your personal details. Without verification, you will not be able to borrow or lend fiat or crypto. You will also be able to see the interest rates.

Start by logging in or creating an account on Nexo. After this, choose the crypto that you prefer and "Top Up". Send your digital assets to the secure address and you're all set.

Nexo will display your balance and how much you can earn. You have the ability to withdraw whenever you like without fees and penalties. When you deposit your crypto, you will also see your open credit line.

Is the Nexo debit card available yet?

The Nexo Card is not available to most people just yet. It’s something they’ve been working on for a couple of years now. Some of the features include 2% cash back. What’s best about this is that you can even choose whether you receive it as Bitcoin or Nexo tokens.

What fiat currencies and crypto coins and tokens Nexo support?

Nexo supports 17 cryptocurrencies, and it includes BTC, ETH, PAXG, BNB, XLM, NEXO, BCH, EOS, LINK, TRX, USDC, USDT, and much more. When it comes to receiving loans in fiat currencies, Nexo offers loans in 45 fiat currencies.

How can I deposit funds to Nexo?

Depositing funds to Nexo is quite simple. Select one of the supported cryptocurrencies and it will generate a private deposit address. Copy it & paste the copied address to the "withdraw address" option of the wallet or exchange that you are using to transfer funds to Nexo and click on the withdraw/send button. That's it as soon you will receive the funds in your Nexo wallet/account after the number of network confirmations is reached.

  • Features
  • Ease of use
  • Security
  • Support
  • Reputation
  • Fees
  • Overall
  • 5
  • 4
  • 4
  • 4
  • 3
  • 3
  • 3.83
Go to site
  • 3
  • 4
  • 5
  • 4
  • 4
  • 4
  • 4
Go to site