Youhodler vs Nexo - Which is Better for You? [2022]

Youhodler and Nexo are both relatively trustworthy Crypto Lending & Loan platforms in our opinion, but which one is the better choice overall for you? We hope to give you the information you’ll need to decide for yourself which is better for you — while elaborating a bit about our experiences using both platforms. 

We used to strongly prefer Nexo to Youhodler, as quite frankly in the past we didn’t trust Youhodler due to it being such a new unknown company, but those worries have largely passed and we see Youhodler as a reasonably trustworthy company now that has some unique features (like multi hodl) that are unique — overall we still prefer Nexo a bit, however to be honest they’re quite competitive with one another now.

With that being said we’d say it’s essential to use multiple platforms to diversify your risk in any one of them having any variety of issues — another good crypto-lending company to check out would be Hodlnaut. You can read our comparison of Youhodler vs Hodlnaut here and Nexo compared to Hodlnaut by clicking here. 

Below you can find a quick jump-to section if you want to just get to a particular part of this comparison right-away, but essentially we’ll start by going into which one is best for earning interest on your crypto followed by which one has lower fees both for withdrawals and trades on-platform.

After that we’ll briefly go over the current sign-up bonus offers Youhodler and Nexo currently have, how trustworthy both platforms are (and how they’re regulated), before finally ending with a summary of it all and some FAQ’s.

Table of Contents

Which Offers the Better Interest on Deposits - Youhodler or Nexo?

This category is a bit of a draw — Nexo offers comparable yields to slightly higher yields when you hold large amounts of their loyalty token with them — but otherwise their rates are generally comparable to slightly lower than Youhodler’s rates currently.  

With that being said, Youhodler offers significantly better interest when not holding any loyalty tokens — while Youhodler offers comparable to slightly better (1-2%) interest generally, when you hold 10%+ of your portfolio in Nexo’s token you get bonus yield which makes Nexo’s yield higher. So if you’re bullish on the Nexo platform, and don’t mind holding their loyalty token, they’re probably the better choice.

To sum it up — With Nexo you earn slightly less than with Youhodler (1% to 2% less) unless you hold large amounts of their loyalty token and/or lock up your crypto for 1 month terms. We aren’t factoring in Youhodler’s unique multi hodl feature, as it carries more risk, however in our experience it increases yield, when using it as recommended and not going all-in on the feature, by an extra 1-2% more or less matching Nexo’s top-yielding rates.

Which has less fees - Youhodler or Nexo?

This category is more or less a tie — Both Nexo and Youhodler have very comparable fees for the products they have —  when it comes to their internal crypto swap/trading thingy though Youhodler charges a spread (fee) of around 0.2% while Nexo charges around 0.2% to 0.5% depending on the pair from what we’ve experienced, making them quite comparable.

Neither platform seems to tack on any surplus fees for withdrawals or other hidden fees, so you don’t need to worry about that.

As for each platforms crypto-backed loans, Youhodler has nearly identical fees compared to Nexo — they both charge a small loan origination fee and term-change fees of around 1-2% each, as well as similar interest rates generally around 4% to 8% per year in interest fees. With that being said, short-term loan via Youhodler’s turbocharge or multi hodl are much better than Nexo’s short-term loans. 

Which Has The Better Signup Bonus - Youhodler or Nexo?

This category is firmly won by Nexo  — This is because Youhodler doesn’t offer a ‘real’ sign-up bonus currently, but rather a small discount or bonus interest rate yield on your first deposit, while Nexo offers between $10 and $25 sign-up bonus for new users, which is pretty decent all things considered.

With that being said, you can sign up through this link to be eligible for Nexo’s sign-up bonus — You can also read more about the promos they’re currently offering in detail, but generally they don’t have any others you can stack with this offer, and we consistently update it to ensure it’s the maximum bonus currently available.

As for Youhodler you can learn more about their sign-up bonus on our page about Youhodler’s current promotions, but basically you can sign up through this link and you’ll be eligible for 1% bonus interest on a coin of your choosing for I believe 30 or 90 days, depending on the current promotion, and sometimes a discount on fees.

Which is more Trustworthy - Youhodler or Nexo?

We’d like to say they’re equally as trustworthy — but quite frankly the hard truth is Nexo has more institutional backing and simply better capitalised, and thus is the more trustworthy and reliable company at this stage. If you’re risk-adverse you’d probably prefer going with Nexo, but ultimately both are likely safe long-term.

With that being said we would say both are trustworthy and competent companies that we trust with some of our assets — we use them both, we hold tens of thousands of dollars with both — and we haven’t taken out any 3rd party insurance for our assets held with either platform. 

Both are quite regulated, albeit Youhodler’s regulations are largely crypto-based while Nexo has both crypto and more traditional regulatory institution oversight, and both use top-notch security with multi-sig wallets, cold storage, and require collateral for most loans — because of this we’re not really concerned with either platform, but to be honest at this stage we wouldn’t put our life savings in Youhodler, but rather use it to diversify our holdings and risk.

What Advantages does Youhodler have over Nexo?​

Youhodler has slightly better rates (or comparable for some assets) on the cryptocurrencies they offer interest on — namely Stablecoins and Altcoins — and overall Youhodler is a trustworthy enough company with good security, support, and offerings — and if you’re interested in leverage or maximising your yield then they’re likely the better choice, at least if you don’t mine the slight extra risk they carry in our opinion.

If you think Youhodler is the right choice for you then you can sign up through this link, however before you do that I’d also recommend checking out Crypto.com, which also offers very good interest rates that are comparable to slightly higher than Youhodler in many cases. You can read our comparison of Crypto.com vs Nexo here and our comparison of Youhodler vs Crypto.com here.

What Advantages does Nexo have over Youhodler?​

Nexo is better if you’re a little more risk-adverse or want a long-term crypto backed loan, however Youhodler is generally better for earning the most interest on cryptoassets currently, so Nexo doesn’t really win out in that regard — but regardless Nexo has pretty decent rates, even comparable to slightly better rates if you hold large amounts of their loyalty token. 

With that being said, of course Nexo also offers a superior sign-up bonus so if you want to go with Nexo right now you can sign up to Nexo through this link to be eligible for the up to a $25 initial sign-up bonus we mentioned before.

Youhodler vs Nexo FAQ's:

Below we cover all the Frequently asked questions we’ve encountered, been asked, or have asked ourself about Youhodler and Nexo — If you have more questions feel free to contact us and we’ll get back to you as soon as we can — and maybe even add our response below.

Can you buy Crypto on Youhodler or Nexo?

You can buy crypto directly with both Youhodler and Nexo in-app, however you must do so via Wire transfer — so if you don’t want to do a wire transfer (costs usually $10-20 from your bank account) and prefer to use ACH transfers that are free to send then you’ll need to first deposit funds into a platform like Voyager and then send it over to either Youhodler or Nexo.

Does Youhodler or Nexo have insurance on your cryptoassets stored with them?

With Youhodler you have some insurance through ledger, however you may want to take out insurance via Nexus Mutual if you want further coverage, as the ledger insurance isn’t very comprehensive to be honest. With Nexo you automatically have multiple types of insurance (Bitgo, Ledger, Bakkt) that’ll protect you (and Nexo) from all but bankruptcy or a catastrophic-level breach in security.  

Does Youhodler or Nexo have better customer service?

We’d say Youhodler’s customer service is quite a bit better than Nexo’s — they both have decent customer service but Youhodler’s is a bit faster due to them being a smaller company at this stage with less clients, but in time this may change, and we have found Youhodler’s customer service to be…well quite frankly more competent and  seem to generally get things right and understand the first time — rather than needing to go back and forth a bit to get the answer/help you need.

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