Delivered January 9th, 2021. Contributors: Joseph N. and
Part
01
of five
Part
01
Cryptocurrency: Nexo, Celsius
In the attached spreadsheet, Columns C & D are detailed comparative data points describing the storage, security, insurance, customer perceptions, and legitimacy of Nexo.io and Celsius Network., respectively.
Details regarding cryptocurrency platforms — Crypto.com and BlockFi are included in the attached spreadsheet, Columns E & F, respectively. The details uncovered focus on various aspects of these companies, including how they store digital assets, whether they offer insurance, consumer sentiment, etc.
AnchorUSD stores its assets using an AnchorCoin wallet in pooled custodial accounts operated by the Trustee, i.e., Prime Trust LLC. Customers are also advised to use strong passwords and manage their login credentials to curb unauthorized access to their AnchorUSD accounts.
MyConstant was founded by Duy Huynh and is headquartered at Redlands, California, United States. The company insures its customer deposits, which can be invested in Flex, a secured lending pool and protected by a $130,000,000 insurance policy by Prime Trust, an accredited U.S. custodian.
Nebeus is another competitor in the cryptocurrency with a savings account offering an APY of 8.25%. The company details have been included in Column J, of the attached spreadsheet.
The crypto savings account company was founded by Konstantin Zaripov, its current managing director
and Sergey Romanovskiy, its current director & CTO.
Nebeus does not keep customer deposits and it all goes to a “custodian with insurance and industrial-strength protections.”
Unfortunately, the insurance covers deposits over €5,000, while those under are held with Nebeus and are uninsured.
Research Methodology
To identify the additional cryptocurrency competitor, your research team reviewed several block chain and financial technology reports and magazines published by Crypto Testers, Bit Compare, and The College Investor. These reports included lists of the best crypto savings accounts, including their APYs. A review of these lists identified Nebeus as among the few crypto savings accounts offering the highest APY. More details on this player are included in the attached spreadsheet, Column J.
Part
05
of five
Part
05
Cryptocurrency: Other Players, Part 2
Hodlnaut is another additional player in cryptocurrency offering a 6.2% APY on Bitcoin and 6.7% on Ethereum. Hodlnaut was arrived at as a suitable competitor based on its products and services, which compare to those offered by the other competitors like Nexo.io, BlockFI, etc. More details are included in the attached spreadsheet, Column K.
Helpful Findings
Hodlnaut is headquartered at Singapore, Central Region, Singapore.
It was founded by Juntao Zhu, its current CEO
and Simon Lee, its current CTO.
Hodlnaut stores crypto using Cold Wallets. Customer deposits are received onto multi-signature wallets and stored on wallets secured with BitGo.
To identify the additional cryptocurrency competitor, your research team reviewed several blockchain and financial technology reports and magazines published by Crypto Testers, Bit Compare, and The College Investor. These reports included lists of the best crypto savings accounts, including their APYs. A review of these lists identified Hodlnaut as among the few crypto savings accounts offering the highest APY. More details on this player are included in the attached spreadsheet, Column K.