I’ve been using these defi apps for 5 months and have chosen to make an advantages and disadvantages list for newcomers who are unsure which is the best. This will not be a biased evaluation because I own all of the tokens in order to maximize returns on each platform.
It pays up to 12% with BTC, 16% with ETH and 20% with stablecoins. Their native token (costs around $0.34 each). I’ve been using it and have had no problems transferring money in and out.
* Offer the higher APY for Stables at the market
* Offer the higher APY for the native token at the market
* Interest is paid daily
* Possible future gain in it token, low market cap
* App interface is not as user friendly as the others
* Because it is still new, it must establish credibility.
* Fees to withdraw
Nexo offers up to 12% on stable coins and you just need 10% of your savings at they’re native coin.
* Mobile app is user friendly
* You don’t have to own a lot of Nexo token to get the best rates
* Fast withdrawal system
* Interest paid daily
* There has been a lot of controversy regarding their insurance policy and regulations.
* APY is not that high
You can get up to 17% APY with stable coins but to get this interest rate you must have 25% of your savings with their native token CEL.
* Has been around for 3 years
* CEO is engaged in the community and makes constant AMAs
* No fees for withdrawal
* Referral program
* You need to hold 25% of native coins to get the higher rates. If BTC goes up and CEL goes down you will need to get more CEL. There’s no in-app swap, so you need to go to an exchange, buy CEL, pay a fee and deposit.
* Withdrawals can take more time than you are expecting . I usually just get my coins back the next day but they claim it’s for safety reasons.
* Interest is paid on a weekly basis.