Youhodler vs Celsius Network: Pros, Cons and Which is Better?

Are you interested in deploying your crypto holdings as an instrument of earning? Are you looking to borrow funds collateralizing your crypto assets? Both Youhodler and Celsius Network can help you fully realize the potential of your crypto holdings as a medium of financial exchange. But which one is better? Let us have a detailed look at each of them to find out. We will explore their purpose, their pros and cons, and how they fare against each other in this article.

What is Youhodler?

As a blockchain-based financial enabler, Youhodler focuses on crypto-backed lending. YouHodler offers an impressive 90% loan-to-value ratio on a diverse range of 20+ cryptocurrencies. Their annual percentage rate of return of more than 12% in compounding interest. 

The entire process of collateralizing cryptocurrencies to obtain loans from Youhodler is quite straightforward. A borrower can collateralize their crypto holdings to get loans in Tether or Bitcoin or a diverse range of fiat currencies such as the Euro, the US Dollar, the Pound sterling, and the Swiss Franc. As for collateral, a borrower can use any of the following 20+ cryptocurrencies:

The minimum loan amount starts from as little as US$100, and the platform allows instant credit card and bank withdrawals. 

Youhodler’s crypto exchange platform facilitates universal conversion between all cryptocurrencies, fiat, and stablecoins. It is quite helpful for users newly initiated into the world of cryptocurrencies. Meant for both new and old crypto users, the Youhodler exchange makes crypto deposits and withdrawals simple. 

Apart from working as a lending platform and an exchange that makes crypto transactions easy and simple, Youhodler also offers its users an opportunity to earn high interest on their crypto deposits. Youhodler allows crypto holders to keep a wide range of crypto assets in their savings account and earn significant rates of interest. Among well-known crypto coins, COMP holders can earn a savings account interest of 2.5%, BTC holders can earn 4.8%, and holders of a wide range of stablecoins such as the USDT, PAX, DAI, and USDC can earn 12% on their savings account. 

MultiHODL is a tool run by Youhodler that allows users to employ a sound mix of aggressive and conservative strategy. With 80% of the investment share allocated to the savings account, which provides around 12% interest yearly and 20% allocated to the more than 300% potential profit account, the platform enables its users to find the right balance between limited risk and asymmetrical high level of potential profit. 

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The Pros and Cons of Youhodler

Now, we know about the services Youhodler offers to its users. It's about time that we have a look at its pros and cons. 

Pros

The platform offers a sufficiently high return of 12% compounding and an impressive 90% loan-to-value ratio. For borrowers, the platform offers significant flexibility with minimum loans starting at US$100 and more than 20 options of collateral. Moreover, to obtain a loan, the borrower does not have to go through any credit checks and can borrow in any of the four fiat currencies of the USD, EUR, GBP, and CHF. The platform also offers the provision of receiving loans in Bitcoin, and when it comes to loan terms, it can be unlimited. 

YouHodler offers weekly interest payouts, which increases the scope of earning, and at the same time, its MultiHodl functionality helps users explore the benefits of both the bull and bear markets. 

Cons

Youhodler is not available to US citizens. 

The platform may appear comparatively expensive for borrowers than many other similar platforms. There have also been reports of android users experiencing bugs and glitches in the application. 

What is Celsius Network?

Celsius Network runs an earning and lending platform that users can access through a mobile application. With the stated mission of “Crypto With a Conscience”, Celsius shares nearly four-fifths of its revenue with the users of the platform. Having processed 8.2 billion US dollars in loans, Celsius boasts of more than 350,000 users active on the platform and more than 5.3 billion generated in community assets. The platform believes that digital currency should become available to all, generating wealth for the community with rewards and flexibility.

There are three major functions that Celsius Network performs for its users. It helps them to earn with crypto, instantly borrow cash, and pay and transfer with the use of an application. Let’s have a look at each of these functions separately. 

To earn with crypto, users only need to transfer their currency to Celsius Network. With Tether(USDT), users can earn an annual percentage yield of 13.86%, with Bitcoin - 6.20% and with Ethereum - 6.61%. One can leverage the Celsius Network application to purchase, earn, withdraw and track their performance on the platform on a 24/7 basis.

The lending program helps borrowers to collateralize their crypto holdings and take loans as and when they need. The borrowing in fiat currency can start from as little as US$500. If one has the crypto assets ready, the entire lending process happens in minutes. 

A borrower decides the amount of the loan and the crypto asset they will need to collateralize. Depending on the rate of the crypto asset, one can get the required amount very quickly. There is no need to go through the tedious processes of credit check or origination fee. Celsius lending starts at a significantly low interest rate of 1% APR. 

Paying or receiving payment through Celsius is fast and convenient. You need to select a recipient from your contacts loaded on the app first. Next, you need to select a coin and the amount you want to transfer. Then, you can add a note and click on send to transfer the money. Celpay is the name of their application and is available for both iOS and Android users.

The Pros and Cons of Celsius Network

Having got an overview of how Celsius Network works, let’s look at its pros and cons. 

Pros

The CEL pay option makes the transferring crypto assets from one Celsius user to another free of fees. 

With its competitive interest rates and weekly payouts, Celsius provides a stable mode of earning. Additionally, one gets the opportunity to earn in the network’s native CEL coins, wherein the opportunity of income goes up with additional interest ranging between 5 and 30%. 

The user-convenience quotient of the platform is quite high. It requires no minimum deposits or balances to be maintained. Celsius also offers a large variety of supported cryptocurrencies to choose from. 

Cons

Celsius network requires KYC from the user if they are looking to earn interest. Moreover, interest rates are pretty volatile. They also do not allow the users of the United States to earn in CEL. 

The platform runs on a mobile-only application with no provisions for a web app.

Youhodler Vs. Celsius Network: The verdict

Both Youhodler and Celsius Network empower crypto users by allowing them to either earn with their crypto holdings or borrow money against it. While Youhodler facilitates quick and easy crypto loans between US$100 and US$30,000, Celsius Network facilitates earning, borrowing, and transferring of funds on the blockchain through their mobile app.

It's easy to receive cash and pay back your loans in Youhodler with EUR, USD, or USDT. It offers one of the best loan-to-value ratios in the industry and accepts 20+ crypto assets like BTC, ETH, LTC, Link, and much more as collateral. On the Celsius Network, crypto holders can earn rewards by transferring their coins to the Celsius Wallet. The borrowing of money against crypto collateral happens at as low a rate of 1% on Celsius. 

Selecting between Youhodler and Celsius was not easy. Both of them have left a deep impact on the crypto industry and have built quite a following in the process. Considering the pros and cons of Youhodler and Celsius Network, We believe that Youhodler has the upper hand because of its higher loan-to-value ratio and higher interest rates on savings accounts. 

It is also important to note that Youhodler has no extra step for accessing higher rates of return, whereas, Celsius mandates earning in CEL to access the higher rates advertised by them. In a head-to-head comparison between Youholder and Celsius in terms of platform features, Youhodler outclasses Celsius fair and square.