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Adding a Hardware Remote Control to Lego PoweredUP Control+ Sets

Last updated: December 02, 2023Leave a Comment

lego buggy

I love building stuff with my son, and one of our latest projects (admittedly more apt for me than for him as he’s too young to be building these kits), was the Lego buggy 42124. This is a great kit that is fun to build but it is let down by the fact that it is controlled using a smartphone. I don’t like using smartphone remote controls and I definitely don’t want my son looking at a screen at a young age, so I set out to figure out a way to use a hardware remote control.

Turns out it’s quite easy to do. I used Pybricks to add custom code to the Lego hub, then ordered a Lego remote to pair with the buggy.

The code I used can be found below. I set the left red button to “ludicrous mode” which enables the buggy to function at full speed. Otherwise, I set it to run at 50% speed since my son is too young to control it at max speed, especially indoors. This way we can both use it and have some fun while using the appropriate speeds.

Lego Buggy (42124)

from pybricks.pupdevices import Motor, Remote
from pybricks.parameters import Port, Direction, Stop, Button
from pybricks.hubs import TechnicHub
from pybricks.tools import wait

# Initialize the motors.
steer = Motor(Port.B)
front = Motor(Port.A, Direction.COUNTERCLOCKWISE)

# Connect to the remote.
remote = Remote()

# Initialize the hub.
hub = TechnicHub()

# Read the current settings
old_kp, old_ki, old_kd, _, _ = steer.control.pid()

# Set new values
steer.control.pid(kp=old_kp*4, kd=old_kd*0.4)

# Find the steering endpoint on the left and right.
# The middle is in between.
left_end = steer.run_until_stalled(-200, then=Stop.HOLD)
right_end = steer.run_until_stalled(200, then=Stop.HOLD)

# We are now at the right. Reset this angle to be half the difference.
# That puts zero in the middle.
steer.reset_angle((right_end - left_end)/2)
steer.run_target(speed=200, target_angle=0, wait=False)

# Set steering angle for the buggy
steer_angle = (((right_end - left_end)/2)-5)
print('steer angle:',steer_angle)

# Now we can start driving!
while True:
    # Check which buttons are pressed.
    pressed = remote.buttons.pressed()

    # Choose the steer angle based on the right controls.
    if Button.LEFT_PLUS in pressed:
        steer.run_target(1400, -steer_angle, Stop.HOLD, False)
    elif Button.LEFT_MINUS in pressed:
        steer.run_target(1400, steer_angle, Stop.HOLD, False)
    else:
        steer.track_target(0)

    # Top speed controls
    top_speed = 50
    if Button.LEFT in pressed:
        top_speed = 100         

    # Choose the drive speed based on the left controls.
    drive_speed = 0
    if Button.RIGHT_PLUS in pressed:
        drive_speed += top_speed
    if Button.RIGHT_MINUS in pressed:
        drive_speed -= top_speed
    if Button.RIGHT in pressed:
        print('Battery voltage:',(hub.battery.voltage())/1000,"V")
        wait(100)          

    # Apply the selected speed.
    front.dc(drive_speed)

    # Wait.
    wait(10)

Lego Top Gear Rally Car (42109)

I also bought the Lego Top Gear Rally Car (42109) and used similar code with a second remote I bought. Now we can race the cars against each other. I can adjust the speed of each through code to adapt it to our different abilities.

Here’s the code I used on this car. I added some things like changing the remote light buttons and naming the remote so that the car would connect to a specific remote out of the two I have, and thus avoid confusion. I also correspondingly changed the hub’s light color.

from pybricks.pupdevices import Motor, Remote
from pybricks.parameters import Port, Direction, Stop, Button, Color
from pybricks.hubs import TechnicHub
from pybricks.tools import wait

# Initialize the motors.
steer = Motor(Port.B)
front = Motor(Port.D, Direction.COUNTERCLOCKWISE)

# Connect to the remote and set the light on the remote
remote = Remote('topgear', timeout=None)
remote.light.on(Color.RED)

# Print the current name of the remote.
print(remote.name())

# Choose a new name.
remote.name('topgear')

# Initialize the hub.
hub = TechnicHub()
hub.light.on(Color.RED)

# Read the current settings
old_kp, old_ki, old_kd, _, _ = steer.control.pid()

# Set new values
steer.control.pid(kp=old_kp*4, kd=old_kd*0.4)

# Set initial top speed value
top_speed = 100

# Find the steering endpoint on the left and right.
# The middle is in between.
left_end = steer.run_until_stalled(-200, then=Stop.HOLD)
right_end = steer.run_until_stalled(200, then=Stop.HOLD)

# We are now at the right. Reset this angle to be half the difference.
# That puts zero in the middle.
steer.reset_angle((right_end - left_end)/2)
steer.run_target(speed=200, target_angle=0, wait=False)

# Set steering angle for the buggy
steer_angle = (((right_end - left_end)/2)-5)

# Now we can start driving!
while True:
    # Check which buttons are pressed.
    pressed = remote.buttons.pressed()

    # Choose the steer angle based on the right controls.
    if Button.LEFT_PLUS in pressed:
        steer.run_target(1400, -steer_angle, Stop.HOLD, False)
    elif Button.LEFT_MINUS in pressed:
        steer.run_target(1400, steer_angle, Stop.HOLD, False)
    else:
        steer.track_target(0)

    # Top speed controls
    if Button.LEFT in pressed:
        top_speed = 75
    if Button.RIGHT in pressed:
        top_speed = 100   
    if ((Button.RIGHT in pressed) and (Button.LEFT in pressed)):
        top_speed = 40 

    # Choose the drive speed based on the left controls.
    drive_speed = 0
    if Button.RIGHT_PLUS in pressed:
        drive_speed -= top_speed
    if Button.RIGHT_MINUS in pressed:
        drive_speed += top_speed

    # Print battery voltage    
    if Button.RIGHT in pressed:
        print('Battery voltage:',(hub.battery.voltage())/1000,"V")
        wait(100)           

    # Apply the selected speed.
    front.dc(drive_speed)

    # Wait.
    wait(10)

Lego Go Kart (42109 variant)

from pybricks.pupdevices import Motor, Remote
from pybricks.parameters import Port, Direction, Stop, Button, Color
from pybricks.hubs import TechnicHub
from pybricks.tools import wait

# Initialize the motors.
steer = Motor(Port.B)
front = Motor(Port.D, Direction.COUNTERCLOCKWISE)

# Connect to the remote and set the light on the remote
remote = Remote('topgear', timeout=None)
remote.light.on(Color.GREEN)

# Print the current name of the remote.
print(remote.name())

# Choose a new name.
remote.name('kart')

# Initialize the hub.
hub = TechnicHub()
hub.light.on(Color.GREEN)

# Read the current settings
old_kp, old_ki, old_kd, _, _ = steer.control.pid()

# Set new values
steer.control.pid(kp=old_kp*4, kd=old_kd*0.4)

# Set initial top speed value
top_speed = 100

# Find the steering endpoint on the left and right.
# The middle is in between.
left_end = steer.run_until_stalled(-200, then=Stop.HOLD)
right_end = steer.run_until_stalled(200, then=Stop.HOLD)

# We are now at the right. Reset this angle to be half the difference.
# That puts zero in the middle.
steer.reset_angle((right_end - left_end)/2)
steer.run_target(speed=200, target_angle=0, wait=False)

# Set steering angle for the buggy
steer_angle = (((right_end - left_end)/2)-5)

# Now we can start driving!
while True:
    # Check which buttons are pressed.
    pressed = remote.buttons.pressed()

    # Choose the steer angle based on the right controls.
    if Button.LEFT_PLUS in pressed:
        steer.run_target(1400, -steer_angle, Stop.HOLD, False)
    elif Button.LEFT_MINUS in pressed:
        steer.run_target(1400, steer_angle, Stop.HOLD, False)
    else:
        steer.track_target(0)

    # Top speed controls
    if Button.LEFT in pressed:
        top_speed = 75
    if Button.RIGHT in pressed:
        top_speed = 100   
    if ((Button.RIGHT in pressed) and (Button.LEFT in pressed)):
        top_speed = 40 

    # Choose the drive speed based on the left controls.
    drive_speed = 0
    if Button.RIGHT_PLUS in pressed:
        drive_speed -= top_speed
    if Button.RIGHT_MINUS in pressed:
        drive_speed += top_speed

    # Print battery voltage    
    if Button.RIGHT in pressed:
        print('Battery voltage:',(hub.battery.voltage())/1000,"V")
        wait(100)           

    # Apply the selected speed.
    front.dc(drive_speed)

    # Wait.
    wait(10)

Lego 4×4 Extreme Off-Roader (42099)

from pybricks.pupdevices import Motor, Remote
from pybricks.parameters import Port, Direction, Stop, Button
from pybricks.tools import wait

# Initialize the motors.
steer = Motor(Port.C)
front = Motor(Port.A, Direction.COUNTERCLOCKWISE)
rear = Motor(Port.B, Direction.COUNTERCLOCKWISE)

# Lower the acceleration so the car starts and stops realistically.
front.control.limits(acceleration=1000)
rear.control.limits(acceleration=1000)

# Connect to the remote.
remote = Remote()

# Find the steering endpoint on the left and right.
# The middle is in between.
left_end = steer.run_until_stalled(-200, then=Stop.HOLD)
right_end = steer.run_until_stalled(200, then=Stop.HOLD)

# We are now at the right. Reset this angle to be half the difference.
# That puts zero in the middle.
steer.reset_angle((right_end - left_end) / 2)
steer.run_target(speed=200, target_angle=0, wait=False)

# Now we can start driving!
while True:
    # Check which buttons are pressed.
    pressed = remote.buttons.pressed()

    # Choose the steer angle based on the left controls.
    steer_angle = 0
    if Button.LEFT_PLUS in pressed:
        steer_angle -= 75
    if Button.LEFT_MINUS in pressed:
        steer_angle += 75

    # Steer to the selected angle.
    steer.run_target(500, steer_angle, wait=False)

    # Choose the drive speed based on the right controls.
    drive_speed = 0
    if Button.RIGHT_PLUS in pressed:
        drive_speed += 1000
    if Button.RIGHT_MINUS in pressed:
        drive_speed -= 1000

    # Apply the selected speed.
    front.run(drive_speed)
    rear.run(drive_speed)

    # Wait.
    wait(10)

Troubleshooting

If you’re having issues getting the code to work, you can try both editors:

  • beta.pybricks.com
  • code.pybricks.com

You can also use this code to verify that a connection is being successfully made by your controller with the hub:

from pybricks.hubs import TechnicHub
from pybricks.pupdevices import Remote
from pybricks.parameters import Button, Color
from pybricks.tools import wait

hub = TechnicHub()

# Make the light red while we connect.
hub.light.on(Color.RED)

# Connect to the remote.
my_remote = Remote() 

# Make the light green when we are connected.
hub.light.on(Color.GREEN)

while True:
    # For any button press, make the light magenta.
    # Otherwise make it yellow.
    if my_remote.buttons.pressed():
        hub.light.on(Color.MAGENTA)
    else:
        hub.light.on(Color.YELLOW)
    wait(10)

Lego 42124 Trike Variant

from pybricks.pupdevices import Motor, Remote
from pybricks.parameters import Port, Direction, Stop, Button
from pybricks.hubs import TechnicHub
from pybricks.tools import wait

# Initialize the motors.
steer = Motor(Port.B)
front = Motor(Port.A, Direction.COUNTERCLOCKWISE)

# Connect to the remote.
remote = Remote()

# Initialize the hub.
hub = TechnicHub()

# Read the current settings
old_kp, old_ki, old_kd, _, _ = steer.control.pid()

# Set new values
steer.control.pid(kp=old_kp*0.5, kd=old_kd*1)

# Find the steering endpoint on the left and right.
# The middle is in between.
left_end = steer.run_until_stalled(-200, then=Stop.HOLD)
right_end = steer.run_until_stalled(200, then=Stop.HOLD)

print('left end:',left_end)
print('right end:', right_end)

# We are now at the right. Reset this angle to be half the difference.
# That puts zero in the middle.
steer.reset_angle((right_end - left_end)/2)
steer.run_target(speed=100, target_angle=0, wait=False)

# Set steering angle for the buggy
steer_angle = (((right_end - left_end)/2)-20)
print('steer angle:',steer_angle)

# Now we can start driving!
while True:
    # Check which buttons are pressed.
    pressed = remote.buttons.pressed()

    # Choose the steer angle based on the right controls.
    if Button.LEFT_PLUS in pressed:
        steer.run_target(400, -steer_angle, Stop.HOLD, False)
    elif Button.LEFT_MINUS in pressed:
        steer.run_target(400, steer_angle, Stop.HOLD, False)
    else:
        current_angle = steer.angle()
        deadband = 3  # Define a deadband range of +/- 3 degrees
        if current_angle > deadband:
            steer.track_target(0)
        elif current_angle < -deadband:
            steer.track_target(0)
        else:
            steer.stop()

    # Top speed controls
    top_speed = 50
    if Button.LEFT in pressed:
        top_speed = 100         

    # Choose the drive speed based on the left controls.
    drive_speed = 0
    if Button.RIGHT_PLUS in pressed:
        drive_speed += top_speed
    if Button.RIGHT_MINUS in pressed:
        drive_speed -= top_speed
    if Button.RIGHT in pressed:
        print('Battery voltage:',(hub.battery.voltage())/1000,"V")
        wait(100)          

    # Apply the selected speed.
    front.dc(drive_speed)

    # Wait.
    wait(10)

Lego 51515 Robot Inventor

You can also use the same principles to connect to the Lego 51515 Robot Inventor hub. There are many things you can build with that kit, but below you can find the general framework for connecting the Lego remote to the 51515 hub:

from pybricks.hubs import InventorHub
from pybricks.pupdevices import Remote
from pybricks.parameters import Button
from pybricks.tools import wait

# Initialize the hub and the remote
hub = InventorHub()
remote = Remote()

while True:
    # Check if a button on the remote is pressed
    pressed = remote.buttons.pressed()

    if Button.LEFT in pressed:
        # Code for when the left button is pressed
        pass
    elif Button.RIGHT in pressed:
        # Code for when the right button is pressed
        pass
    
    # Delay to avoid rapid polling
    wait(10)

Using a PS4 Controller via BrickController2

BrickController2 is an app that lets you control LEGO creations with game controllers. To use a PS4 controller with BrickController2, follow these steps:

  1. Pair the PS4 Controller with Your Device:a. Put the PS4 controller in pairing mode by holding down the “Share” and “PS” buttons at the same time until the light bar starts flashing.b. On your device (whether it’s an Android or iOS), open the Bluetooth settings.

    c. Look for the PS4 controller in the list of available devices. It might show up as “Wireless Controller” or something similar.

    d. Tap on the PS4 controller’s name in the list to pair it with your device. You might be prompted to confirm the pairing.

  2. Open BrickController2:a. Make sure you’ve set up your LEGO devices in the app.b. In the “Controllers” section, you should see the PS4 controller listed if it’s connected. If not, try disconnecting and reconnecting the PS4 controller via Bluetooth.
  3. Assign Controls:a. Once the PS4 controller is recognized in BrickController2, you can start assigning its buttons to control specific functions of your LEGO creation. This can include movement directions, rotations, or other actions.
  4. Play and Control:Once you’ve set up the controls, you can use your PS4 controller to play with and control your LEGO models. Ensure the LEGO devices and the controller are both connected and in range for optimal performance.

Further Reading

  • Brickset – reviews of Lego sets
  • Rebrickable – alternate builds
    • GoPro mod
  • MOCHub – “my own creation”
  • RacingBrick on Youtube – fantastic Lego builds channel

Filed under: Tech

Max Crowdfund Review – A Global Real Estate Investing Platform

Published: July 04, 20213 Comments

max crowdfund review

Invest in real estate the easy way

When considering investing in real estate, the first thought that might come to mind is that it is going to be a long and expensive process. However, in today’s digital-savvy world, it has never been easier to invest in properties effortlessly.

These days, there are several new and innovative ways that will allow you to put money into this investment class. In this review, I will introduce you to one such option – a real estate crowdfunding platform Max Crowdfund.

Max Crowdfund is a global marketplace for real estate investors and property developers. However, unlike typical crowdfunding sites you might come across, this platform achieves this goal through tokenization.

In my review of Max Crowdfund, you will be able to learn more about this platform and find out for yourself whether it will make a good addition to your investment portfolio.

Max Crowdfund – A Quick Overview

Max Crowdfund is the product of an established real estate company, Max Property Group. Since early 2016, this firm has been involved in several projects across the Netherlands, Germany, and the United Kingdom by setting up multiple property investment funds.

By 2017, the group developed its first global property solution, Dominium. However, although the platform was quite successful with over 70,000 users, it had to be reevaluated due to trademark issues that occurred in 2018. The result is Max Crowdfund – a much-advanced rebranded version that gives you access to alternative investment spaces.

This platform integrates blockchain technology to streamline real estate crowdfunding on a global level. In a nutshell, Max Crowdfund facilitates lower entry points for cross-border real estate investment – without compromising on regulatory compliance.

how does max crowdfund work

The main issue the platform is trying to tackle is the lack of transparency in real estate dealings – which is one of the main aspects that concerns many investors in this arena. By using blockchain technology, Max Crowdfund aims to improve the landscape of real estate investments.

Max Crowdfund deploys digital ledger technology which in turn – will record all transactions made with an unchangeable cryptographic signature called a hash. The platform has also partnered with FIBREE (Foundation for International Blockchain and Real Estate Expertise) to ensure that all your investments will be accurately represented on the blockchain protocol.

According to Max Crowdfund, the platform has already raised a total of €2,776,600 and has generated an average annual return of 7.95%. More importantly, there have been no defaults until now.

Max Crowdfund – How to Start Investing?

As I mentioned earlier, the main consideration associated with real estate investments is the huge capital requirement. However, with Max Crowdfund – you can start investing in properties from as little as €100. The platform strives to make the real estate investment space fully transparent and accessible to everyone.

Most importantly, all investment opportunities available on Max Crowdfund are completely vetted by an experienced real estate team. This will eliminate the need for you to do any of the legwork required to find safe and secure ways to invest your capital.

As an investor, here is how you can start investing on Max Crowdfund.

Max-Crowdfund-account

Step 1: Create your Free Account

As with any other fintech platform, you can start by creating an account on Max Crowdfund by providing your email address. After confirming your email, you need to set a password.

Step 2: Verify your Account

In order to verify your account on Max Crowdfund, you will be required to complete two important steps.

1. KYC Verification

As Max Crowdfund is a funding platform, you will be required to complete a KYC (Know Your Customer) process. Since this is automated, you can add your address, upload your ID, and submit a picture of you holding the identity document.

2. Bank Account Verification

Once your KYC information has been approved, the final verification step is to add your bank account. You will also need to make a transfer – which can be of any amount from one cent to the escrow account of the platform. When Max Crowdfund receives your transfer, you can proceed to make an investment.

Note: If you need to add another layer of security, you can verify your mobile number or add a Google authenticator account at a later date.

Step 3: Find Investment Opportunities

Max Crowdfund displays all investment opportunities available with detailed information.

Every investment option will include details such as:

  • Full details of the company
  • Ultimate beneficial owners
  • Investment plan
  • Collateral
  • Assessment of any involved risks
  • Loan terms

Any returns you receive from your investments will be paid directly into your account. The term of these investment opportunities typically varies between six months and five years. There are also fixed interest rates between 3% and 12% per annum. However, this will depend on the risk class of the particular project.

As you can see, Max Crowdfund offers a transparent view of all the information you need. When you see an opportunity you would like to pursue; you can decide how much you wish to invest.

Step 3: Deposit Funds

At this stage, you can start depositing funds into your Max Crowdfund account. There are multiple payment methods that you can use to fund your account. However, it is imperative to know that – currently, Max Crowdfund accepts only euros for investing.

The platform might soon begin to accept other currencies – including crypto tokens. But for now, you can only pay in euros. When the funds have been received, your balance will be automatically updated.

Step 4: Start Investing

With a sufficient balance in your account, you can select an investment to back. After you have confirmed, the specified amount will be reserved from your account balance. Max Crowdfund gives you a window of 24 hours to change your investment amount or cancel it. This will not incur any additional charges.

After this cooling period, it will not be possible to make changes or cancel your investment. You can, however, make another deposit into the same scheme.

max crowdfund review 2021

Note: The maximum investment is limited to €80,000 per individual investor and €160,000 for joint accounts. Company accounts and qualified investors have no limits.

Step 5: Earn Returns

When the investment has been finalized, the money will be transferred to the fundraiser, and their interest payment obligations will commence. Depending on your chosen investment, you will receive interest payments monthly, quarterly, semi-annually, annually, or at the end of the term.

Step 6: Withdraw or Reinvest

Any payments and interest from your investments will be added to your account balance, which you can then withdraw to your verified bank account. If the payment sits in your account for more than 60 days – it will be automatically transferred.

As you can see, investing in real estate with Max Crowdfund is fairly straightforward. However, remember that investment decisions will ultimately be yours, and so you should do your due diligence before parting with any capital.

Max Crowdfund – How to Raise Funds?

If you are looking to raise money for a real-estate project, the process might be more complicated. This is primarily because you will have to go through multiple stages of verification to be eligible for a loan.

You can follow the steps I have outlined below to get started.

Step 1: Create and Verify Your Account

Setting up your user account is the same as that I have explained above. Apart from providing your basic information, you will also verify your identity by completing the KYC process.

Step 2: Verify Your Company

If you want to raise funds on Max Crowdfund, aside from a verified personal account – you will also need a verified company account. Once you have a verified personal account, you can add your company from your profile on the Max Crowdfund dashboard. The platform will approve your company after performing a credit check.

When you have completed the Know Your Company process, you will need to link your firm’s bank account to your profile by making a transfer. This last step will complete the process of your account verification as a fundraiser.

Step 3: Submit Your Project

When you are ready, you can click on ‘Raise Funds’ on the platform to get started with your application. This will involve you filling out a form that describes your real estate project details as well as your loan requirements. Once you have submitted the application, the Max Crowdfund team will get back to you within 24 hours.

Note: This initial review will cost you €250 plus VAT – which will be charged to your company account. So make sure that you have sufficient funds available before applying for a loan.

Step 4: Fundraiser Approval

Upon receiving confirmation for a loan application, the platform will then proceed to evaluate your underlying asset and your ability to make repayments. If approved, Max Crowdfund will publish your fundraiser.

Step 5: Loan Subscription and Release of Funds

When you have received the full subscription for the loan amount, you will have to sign the loan agreement, and the funds will be released to you. Your loan will have a set minimum amount.

Even if your application does not receive a full subscription, your application will still be considered successful if your minimum loan amount has been attained.  If not, the Investment Committee might decide to extend your application period one more time.

If the minimum is not met within that time, your application will be canceled, and any investment acquired will be returned to the respective investors.

Step 6: Make Repayments to Investors

As per the loan agreement, you will have to make repayments to the platform’s escrow account, which will be further distributed to the investors.

If you are unable to meet the repayments, you should reach out to Max Crowdfund so that the platform can devise a strategy to revise the loan conditions to come up with the best solution for all parties involved. Early repayment of the loan is also possible, but only if you are making full payment.

MPGS

When going through the Max Crowdfund website, you will undoubtedly come across MPGS – which are Max Property Group Share Certificates provided by the Max Property Group. Investing in MPGS will allow you to own a share in the company – given that you are qualified to invest.

However, it is crucial to understand that this investment vehicle is not affiliated with Max Crowdfund. Instead, the assets are issued by the Max Property Group, the parent company of the platform.

The only reason I am mentioning this here is so that you do not make investments assuming that MPGS is directly backed by Max Crowdfund itself. If you are considering this, you will need to do your own research about the real estate company and its financial standing first.

MPG Tokens

Max Property Group has also launched an MPG digital token which was released in February 2019. You can buy this token from cryptocurrency exchanges or directly by contacting the MPG group. Investors and fundraisers can use this token to pay for transaction fees and other charges on the Max Crowdfund platform.

Max Crowdfund Fees

As with any other online fintech platform, you will be liable to pay a fee to avail of the services of Max Crowdfund.

The charges can be classified into two – for investors and fundraisers.

Fees For Investors

  • Subscription fee for bonds – From 0% to 2% of the total invested amount.
  • Monthly administration fee – 0.1%
  • Administration fee incidental payment (example – for profit share) – 0.5%

Note: All investor fees are inclusive VAT.

Fees For Fundraisers

  • Application fee – €250
  • Publication contracting fee – €750
  • Success fee – 2.5%
  • Monthly administration fee – 0.06%
  • Administration fee incidental payment (profit share) – 0.5%
  • Loan restructuring – 0.5%
  • Early repayment – 0.5%
  • Late payments- Starting fee of €500

Note: All fundraiser fees are exclusive of VAT

Max Crowdfund Safety and Security

Max Crowdfund’s take on transparency extends to its compliance as well. The platform is registered with AFM in the Netherlands and has received an ‘exemption’ from them for “mediating in repayable funds.” However, it is also clearly stated Max Crowdfund is not under the strict and continuous supervision of the AFM.

Nevertheless, the platform regularly consults with the financial authority in question and also submits reports. In addition – as I have mentioned throughout the review, the platform thoroughly investigates each fundraising project in order to submit it for the consideration of investors.

max crowdfund projects

If you need to know more about the risk assessment process, Max Crowdfund also has a dedicated section on its website. You can see how the platform calculates the solvability, profitability, LTV, marketability, and other risk factors involved with each project.

Max Crowdfund Customer Service

Max Crowdfund provides users with animated video tutorials on how to start investing and how to raise funds. Additionally, you will also find all the relevant information in the Help Centre. In case you need further assistance, you can reach out to the team through their contact form, email, or phone.

Max Crowdfund – The Verdict

Max Crowdfund has opened the doors for global investors to fund real estate projects without having to go through the cumbersome process of obtaining a long-term mortgage. Registered with financial authorities in the Netherlands, the platform comes across as a credible financial solution to explore this alternative marketplace.

Moreover, the blockchain integration makes the platform more transparent and trustworthy. With all that said, when making investments – there are several considerations to make. The good news is that Max Crowdfund provides you with all the necessary documentation you will need to make an informed decision.

However, it is up to you to decide whether or not the real estate markets offered by the platform align with your portfolio. On the flip side – at a minimum investment of just €100, this allows you to diversify in a risk-averse manner.

Invest in real estate the easy way

Filed under: Money, Real estate

Malta Added to the FATF Grey List – What are the consequences?

Last updated: September 12, 20225 Comments

malta fatf

Update 2022: After just a year, Malta was removed from the FATF grey list. The reputational damage won’t be that easy to reverse however.

On June 25 2021, Malta was placed on the FATF’s list of jurisdictions under increased monitoring, better known as the ‘grey list’. It is the first time that an EU Member State has been placed on this list due to increased and persistent money laundering and terrorist financing risks.

Let’s take a look at what the FATF itself has to say about Malta’s current state, and why they have put the island in the grey list:

In June 2021, Malta made a high-level political commitment to work with the FATF and MONEYVAL to strengthen the effectiveness of its AML/CFT regime. Since the adoption of its MER in July 2019, Malta has made progress on a number of the MER’s recommended actions to improve its system, such as: strengthening the risk-based approach to FI and DNFBP supervision; improving the analytical process for financial intelligence; resourcing the police and empowering prosecutors to investigate and charge complex money laundering in line with Malta’s risk profile; introducing a national confiscation policy as well as passing a non-conviction based confiscation law; raising sanctions available for the crime of TF and capability to investigate cross-border cash movements for potential TF activity; and increasing outreach and immediate communication to reporting entities on targeted financial sanctions and improving the TF risk understanding of the NPO sector.

Malta will work to implement its FATF action plan by (1) continuing to demonstrate that beneficial ownership information is accurate and that, where appropriate, effective, proportionate, and dissuasive sanctions, commensurate with the ML/TF risks, are applied to legal persons if information provided is found to be inaccurate; and ensuring that effective, proportionate, and dissuasive sanctions are applied to gatekeepers when they do not comply with their obligations to obtain accurate and up-to-date beneficial ownership information; (2) enhancing the use of the FIU’s financial intelligence to support authorities pursuing criminal tax and related money laundering cases, including by clarifying the roles and responsibilities of the Commissioner for Revenue and the FIU; and (3) increasing the focus of the FIU’s analysis on these types of offences, to produce intelligence that helps Maltese law enforcement detect and investigate cases in line with Malta’s identified ML risks related to tax evasion.

The FATF website also states that

“Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the “grey list”.

So now we know what the facts are. Malta was placed under examination from Moneyval and the nation passed the test, but FATF determined that there are still important problems to address, and Malta now has the opportunity to continue demonstrating that it is taking a hard stance against money laundering and terrorist financing (AML/CFT).

Here’s some info on what the FATF expects to see in this regard.

Financial Action Task Force (FATF) president Marcus Pleyer said that a stronger anti-money laundering framework will strengthen Malta’s rule of law and the integrity of its financial system.

“Maltese authorities must not downplay the importance of these measures. Every country that moves on the grey list is not very happy but in the end, the government of Malta gave its clear political commitment to work together with FATF to address all the deficiencies and this is just a signal for cooperation and I am very thankful for this commitment.”

This he said, will benefit the country in the long term, because strong anti-money laundering systems lead to stronger rule of law, social cohesion, social peace, “and sustainable and fair economic growth.”

Here are some of my thoughts on the subject, as always, trying to be objective and honest.

Malta’s reputation will suffer

While the FATF’s statement implied that Malta is fully collaborating to up its game, the immediate reaction by Maltese government officials told a different story. In a statement issued soon after the greylisting announcement, the Labour government said “Malta firmly believes that it does not deserve to be subject to increased monitoring  considering the plethora of reforms implemented that led to tangible progress in Malta’s ability to prevent, detect and combat money laundering and the funding of terrorism effectively.”

Needless to say, I consider such statements to be pure political speech that is ultimately meaningless. Malta’s reputation has been and will continue to be damaged, and a big part of the blame lies with the current government. Over the past 5 years, the island has been rocked by constant corruption scandals, not to mention the murder of Daphne Caruana Galizia, a journalist who dedicated her life to expose corruption in Malta, in 2017.

Other countries that compete for Malta’s business will have a field day. For example, Guernsey’s press was quick to report this new development, obviously painting it in a very grim light.

Countries like Germany will also be banking on the hope that this reputational damage to Malta will halt the exodus of companies and high net worth individuals from Germany to countries with a friendlier tax code like Malta.

Malta’s reputation as a tax paradise is not something new, and this will just make it worse. I’ve personally been refused banking services in other countries based purely on the fact that I have Maltese citizenship. That is, of course, ridiculous and shameful, but it’s just an example of the bad image that Malta had already been cultivating during the previous years.

Even if Malta gets removed from the grey list quickly (within a year seems to be the most optimistic expectation), the reputational damage will take much longer to undo. In fact, I think that Malta would need to go above and beyond and become a champion of transparency, good governance and well-functioning administrative systems to eventually find its way back into being regarded positively by the public at large.

Increased banking issues

The major banks in Malta have been absolutely horrible at servicing businesses over the past few years, and things will get worse from now on, as foreign banks will look suspiciously at movements to and from Maltese banks. As an example, the oldest and largest bank in Malta, Bank of Valletta, has been struggling to find a correspondent bank to service their clients’ needs to receive and send USD.

They had to resort to using Western Union, and most people and businesses that have had to use USD from within their BoV accounts have been getting nasty surprises as transfers commonly got stuck for weeks.

Getting knowledgeable responses from the bank’s customer care services has not been easy either, meaning lots of time wasted in trying to figure out what happened with a simple transfer. All this leads to frustration and lack of trust in the banking system and the country overall, especially in the case of foreign businesses that are operating in Malta.

Ultimately, increased regulatory pressure on banks will force them to increase AML and KYC checks to ridiculous levels. This means that they have much more work to do, and smaller clients like individuals and SMEs become unprofitable. Banks are then incentivized to actually stop providing them with banking services. This situation is real, as many can already attest. Opening a bank account in Malta is actually unthinkable for most businesses moving to Malta. It’s downright impossible even if it’s a traditional business, let alone a business that operates in “risky” niches like crypto and online gaming. Gone are dreams of Malta being a “blockchain island”, as the government famously proclaimed a few years back.

Failure of the EU as an institution

While the FATF decided to publicly shame Malta this time, it doesn’t mean that the rest of European nations are squeaky clean. Another FATF publication in fact highlights several other European countries that have problematic areas.

What this means is that the EU has failed as an institution to control its member nations and make sure that they all play to internationally recognized rules and regulations.

It’s easy to blame Malta as being a corrupt country with lax law enforcement, but it is well known that many other countries have important issues to deal with as well. Perhaps, Malta just proved to be an easy target to pick on this time around.

I expect the EU to get its act together and for all European countries to stop blaming each other, recognize that they each have unique needs and limitations, and work together to help each other. EU critics will undoubtedly see such news as one more proof that the EU does not work. I personally think that the EU is a net positive for its member countries, but there definitely is some work to be done to make it better than it currently is.

This is a wake-up call

I left Malta several years ago, and the state of rampant corruption was one of the reasons. Unfortunately, most Maltese people have been living in a state of denial for many years. Even when they acknowledged the sorry state of things, they felt helpless and resigned to the idea that this is how things work in Malta, and there’s nothing you can do about it.

Hopefully, the fact that Malta is joining the likes of countries like Haiti, South Sudan, Uganda, Albania, Panama, Syria etc. in occupying a place on the FATF’s grey list will serve as a wake-up call for every resident of the nation to change their way of doing things and demand much more from their politicians and law enforcement agencies.

Unfortunately, the past 10-20 years have been characterized by extreme levels of greed which have scarred Malta in many ways and attracted many unsavory characters and shady businesses to Malta. This greed has of course not been contained in the financial sector. It has meant a property boom with little regard to aesthetics or preservation of the precious little that there was of nature. Traffic and the resultant pollution have increased exponentially. Malta has become very dependent on certain business sectors like online gaming and finance, and such news threatens to blow everything up and plunge the island into a deep crisis.

Every Maltese person knows how things work on the islands. Whenever I visit, invariably the topics of conversation steer over to what this or that person did in a shady manner, or how corrupt a certain sector or person is etc. It is pretty depressing to be honest, as people are so frustrated that they end up sharing their grief with each other, which replaces quality conversation about more productive topics.

There are whole sectors that pay minimal tax just because it has long been accepted that the people providing services in these sectors work in the black economy. Construction workers are probably the most classic example. You will never get a VAT receipt for any construction work done, and if you even mention it they will look at you like crazy or even try to ridicule you. This extends to plumbers, electricians, etc.

And if you’re thinking that this rampant tax evasion is limited to manual labor, I can provide further examples. Restaurants in Gozo is another classic case. Here’s how it goes. You go and dine at any restaurant in Gozo. At the end of your meal, you get a receipt that clearly states that it is not a fiscal receipt. You pay and that’s the end of it. No VAT receipt gets issued. If you ask, the standard excuse is that the machine is currently broken. I should note that not all restaurants do this anymore, on my latest visit I did manage to collect a few VAT receipts, although it’s probably because I asked to pay by card rather than cash.

Doctors in Malta are another special case of rampant tax evasion. Since they are exempt from giving fiscal (VAT) receipts, the vast majority simply don’t give any receipt at all when you make a visit at a private clinic. It is very common to walk into clinics and pharmacies where doctors attend to patients and see a big notice saying that only cash payments are accepted. This is total BS and is an obvious way of ensuring that the government has no way of knowing how much they are making. Combined with the non-issuance of tax receipts, they get away with declaring a pittance of an income on their yearly tax declaration, pocketing the rest.

I doubt the FATF has any insight into these practices, and I would bet that they will not be touched, but those are some of the real everyday practices that actually need to be addressed in order for the overall culture of tax evasion and corruption to change. Else, people will always be looking at the extreme tax evasion practiced by these sectors and have the incentive to do the same if they can get away with it. Not to mention the feeling of injustice and helplessness felt by all those who are employed and work hard and honestly and receive their paycheck net of taxes, so they have no way of evading tax and pay a hefty 35% of all their income to the government.

While my experience of life in Malta makes me skeptical of long-lasting changes, I remain very hopeful that this greylisting will finally prove to be the necessary push to put Malta on a new and positive course for the future.

What are your thoughts? If you want to share your ideas on what the FATF grey listing means for Malta, go ahead and leave a comment below.

Filed under: Thoughts & Experiences

Fundrise Review – Real Estate Investment in the USA

Last updated: August 22, 2023Leave a Comment

Fundrise

Invest on Fundrise

Over the years, real estate has been doing generally better than stocks. However, most people don’t invest in real estate because of the hefty amounts of money involved.

Fundrise, on the other hand, offers an excellent opportunity for the average, non-accredited investor to invest in commercial real estate with an amount as low as $500.

Nonetheless, the question remains; is Fundrise worthy and reliable? With that said, read on to learn more about this real estate investment platform and determine if it’s the right choice for you.

What Is Fundrise?

Fundrise is a real estate crowdfunding company based in Washington, DC, and was founded in 2002. It is an investment company that allows small and unaccredited investors to invest in commercial real estate using only their smartphones or computers.

The platform invests through crowdfunding, where they pool investor’s funds together to buy properties. Unlike most companies that focus on institutional investors, Fundrise caters to non-accredited investors and is open to US residents.

Pro’s

  • Low minimum investment
  • Doesn’t require accreditation and is open to all investors
  • Investments are passive
  • Relatively low fees
  • User-friendly platform
  • 90-day guarantee
  • IRA is available
  • Access to more significant and diverse investments

Con’s                        

  • Doesn’t permit investors to invest in property deals or individual Fundrise REITs
  • Investments are complex and need due diligence
  • Distributions taxed like ordinary income

Who Can Invest in Fundrise?

Fundrise is suited for all investors, including those that are non-accredited. In addition, both the Starter account level and Basic plan offer lower minimum investments than commercial real estate investments.

Aside from this, it also offers automatic investments that start at $100 monthly, making it great for average but not very wealthy investors.

Finally, it is also worth considering for investors who are after something long-term or those seeking diversification beyond bonds and stocks.

How Does Fundrise Work?

To start investing with Fundrise, you first need to sign up for an account. Here is how to sign up on the Fundrise Platform:

  • To create an account, click on the “Invest Now” option and provide the necessary information, such as your full name, email address, preferred password.
  • Next, choose your preferred type of account, whether an individual account or joint/trust/entity account.
  • You will be then be asked to fill in your other details like your date of birth, phone number, and home address.
  • Next, you will be asked to choose your funding option. Fundrise provides online payment options through debit/credit cards, EFT, or wire transfers.

After signing up and picking an account, Fundrise will invest your money in its allocated products like the eREITS and eFunds, depending on your investment needs.

The eREITS or real estate investment funds focus on investing in income-producing real estate through holding mortgages or buying and managing buildings.

The other product is eFunds, which generally involves purchasing land, developing housing, and then selling to home buyers using investor’s pooled money. Unlike REITs, eFunds focuses more on growth rather than on income.

For both products, payouts can be made in two ways: quarterly dividend distributions and appreciation in the asset value at the end of its investment term.

Key features of Fundrise

  1. Low Investment Minimums

One feature that makes Fundrise stand out is its low investment minimum of only $500. This makes it an excellent choice for those on a tight budget who still want to get into private real estate investments.

  1. Easy-To-Use Platform

The Fundrise investment platform is also straightforward and easy to use. Since this platform is designed for individual non-credited investors, signing up is easy and only takes around 10 minutes.

To create an account, you just need to provide the necessary details, the type of account you want to create, and your preferred payment method.

  1. Customer Support

Fundrise also offers excellent customer service to cater to the needs of investors and real estate developers. When you scroll through their webpage, you will come across valuable guides and CRSs to help you reach them.

However, the company insists more on email support than phone or live chat, which can be frustrating when you need immediate help.

  1. Redemption Program

Fundrise also provides investors with a redemption program that lets them sell their shares back to Fundrise. However, this entails a fee that’s paid into the eFund or eREIT.

Nonetheless, the said fee for redeeming shares is usually calculated as a reduction from the price value of your shares.

Here is a summary of the fees, depending on how long the shares are held:

  • 0% fee if the shares are held within 90 days
  • 3% if held between 90 days and three years
  • 2% if held between 3 years and four years
  • 1% if held between 4 years and five years

Shares held for five years or more do not entail payment of a share-price reduction fee. Also, the redemption program is exempted during times of extreme economic uncertainties.

  1. Interval Fund

This is another product offered by Fundrise that provides greater diversification and liquidity than eREITS and eFunds. In addition, because it is very liquid, it gives investors access to their money quarterly without suffering from penalties.

Other than the benefit of being more liquid, this fund is also significantly larger than the other Fundrise funds and accommodates more assets. That means that it provides more diversification for investors.

Flexible-Funrise-minimums

What Is Fundrise’s Minimum Investment?

Fundrise stands out from other crowdfunding platforms because it provides several account levels with varying investment minimums. This means that investors have different real estate deals to invest in instead of just an individual option.

Also, Fundrise, when compared to most private real estate investments, boasts of low and flexible investment minimums that allow investors to place the right investment amount to meet their goals.

Here is a summary of the different account levels and their minimum investments.

  • Starter Plan

The minimum investment for the starter account level is $500. This is a good choice for investors that want to test Fundrise’s investment options before fully committing.

  • Basic Plan

You will need to invest a minimum of $1,000 for the Basic Plan. However, with this plan, investors get all the essential options available, such as investor goals, IRA investment, dividend reinvestment, and auto-invest.

  • Core Plan

The Core Plan requires a minimum investment of $5,000. Investors that choose this plan get the ability to customize their core plans. In addition, it also allows investors to choose what they want to focus on, whether to increase their long-term growth, get consistent cash flow, or focus on a balanced approach.

  • Advanced Level

For this plan, investors need to pay a minimum of $10,000. However, when you choose this option, you will get the ability to add more offerings to your investment portfolio.

  • Premium

This plan has a minimum investment of $100,000. It offers access to private funds that provide better opportunities for significant returns.

What Are the Investment Styles Offered by Fundrise?

When you invest $1,000, you will be upgraded to the Core portfolio, where you can choose from three plans. They include the following:

  1. Supplemental Income

This plan focuses on revenue, and the approach is to invest in cash flow. You will then get returns through dividends.

  1. Long-Term Growth

As the name suggests, this program is growth-oriented. It involves investing in real estate that is undervalued and then improving it before selling.

As a result, most of the returns from this strategy are from asset appreciation, while a small portion is from cash flow or dividend payments.

  1. Balanced Investing

This is a diversified portfolio that combines both income and growth. Investors can invest in cash flow-generating property to earn dividends and purchase undervalued property to earn from asset appreciation in this plan.

Fees

Fundrise charges a 0.85% asset management annual fee to cater to the ongoing expenses involved with running the portfolios. In addition, investors also need to pay an advisory fee of 0.15%, which adds up to a total of 0.1% in fees.

The advisory fee goes towards compensating for the money and time, and the company has invested in creating its platform. Moreover, this fee supports services like fund administration, customer support, asset rebalancing, composite tax management, and more.

However, you should note that this fee can be waived based on the current circumstances. Additionally, something else to note is that the 1% fee lowers your dividend and not your account’s balance. Lastly, Fundrise can also charge other fees.

What Is the Procedure for Redeeming Fundrise Shares?

To redeem your Fundrise shares, you will be required to send a redemption request through the platform’s account settings.

After submitting your request, you may need to wait for about 60 days before you can start getting liquidity monthly. Additionally, this will entail a penalty fee of about 3% for every redemption value.

What Are the Risks?

Unlike other platforms, investments in Fundrise are passive, which means that investors need to give up control over their investments. Also, Fundrise investments, especially those that have higher returns, come with some risks.

Just like investing in the stock market, there is a possibility of losing money in your investments. However, the risks are considerably lower when you invest in the starter account level.

Additionally, something else to note is that their dividends are non-qualified. This means that they are taxed like ordinary income, requiring investors to pay for the extra tax.

Another downside of this platform is that it is a long-term investment. Therefore, after investing your money, you may only access it after five years without incurring penalty fees.

Final Verdict: Is It a Good Idea to Invest with Fundrise?

Generally, Fundrise is a good option if you are looking to diversify your investments. It is also the preferred investment platform for those with low savings. However, if you have a tight budget but still want a long-term commitment or a liquid investment, investing in REITs would be worth considering.

Ultimately, Fundrise is a private Real Estate Investment Trust that is easy to use, has low minimums, low risks, and a reasonable rate of return.

Additionally, it is entirely passive and provides an opportunity for anyone to get into real estate investing. Nonetheless, you should note that it will tie your money down for a long time.

Invest on Fundrise

Filed under: Money, Real estate

Nebeus Review 2025 – A Crypto-backed Loans Platform

Last updated: December 23, 20245 Comments

Earn rewards for renting

What is Nebeus?

Nebeus (Developed and operated by Money-4 Limited & Rintral Trading SL) is a London & Barcelona-based fintech start-up company founded in 2014 by Sergey Romanovskiy. Their primary focus is to provide crypto asset-collateralized loans by integrating margin calls, health monitors, and volatility alerts. This unique platform aims to help bridge the gap between fiat and crypto with a wallet that allows you to earn, borrow, exchange, send or receive cash and crypto.

Some of the other features of Nebeus include:

  • Make deposits and cash withdrawals at physical locations.
  • International cash transfers to over 150 countries worldwide.
  • Mobile phone top-ups on more than 500 mobile phone operators around the world.

They have also recently entered into a partnership with Railsbank and will soon provide users with their own Nebeus Mastercard to make purchases in everyday life.

Where is Nebeus Based?

At first glance, their website states, “The platform is developed and managed by Rintral Trading SL, Carrer de la Ciutat de Granada, 150, 08018, Barcelona, Spain.” and are registered in the Commercial Registry of Spain.

Although founded in 2014, they do not have a large social media following or many reviews from the public to date. However, they did a recent crowdfunding event on the “Seedrs” platform where 248 investors joined the campaign. Their funding was also match approved by the British Government’s “Future Fund,” resulting in a total of €995K raised. Allowing Nebeus to win the global award for “Digital Lending Innovation” in the Finance Monthly Fintech Awards 2021.

The Nebeus website offers English, Spanish and German translations. The English translation is not perfect and they have a few spelling errors here and there (which were promptly corrected when I pointed them out), but their blog posts are clear, educational, and easy to understand.

I felt as though the overall website user experience was a bit misleading. Many of the links I clicked on redirected me to the sign-up page to open an account instead of providing me with more information about the option stated on the link as I would have expected.

About Nebeus

Their “about us” page could use some improvement. Although it mentions their past and future, it does not include any information about the employees or company registration. I was not able to find a clear link to this page on the homepage, but it came up when I searched through Google.

Nebeus comply with all UK and EU regulations, and they are planning to obtain an EMI license to improve the services they can offer.

By 2020 Nebeus had more than 60,000 users already. They currently provide options for you to make cash transfers to more than 150 countries and offer mobile top-up with more than 500 mobile phone operators supported around the world. They have made it possible for you to transfer and deposit money at more than 230,000 retail locations & post offices.

On Nebeus, you can add funds using any Visa or Mastercard, and your funds are instantly credited to your account. Soon you will also be able to use your Nebeus Mastercard to make payments.

Opening a Nebeus Account

Opening a Nebeus account is quick and can be done by providing your Name, Surname, Email, Password, and Country. They support a large variety of countries that other platforms often exclude.

Currently, you can use your account without completing the verification process. The only option that is not available without verifying your identity is to transfer Fiat from your Nebeus account.

They have an easy automated KYC verification process. Once you have created your account, click on the profile icon top right and then click on “get verified,” where Nebeus will guide you to add your phone number and verify it with a pin code. Next, you will be required to go through an identity verification process where you are asked to take a selfie and a picture of your original document. Lastly, you need to provide your proof of address to verify it.

Once your account is verified, Nebeus will notify you via email. The entire verification takes around 24 hours to process and once completed, you will be able to use your account with all of its features.

Deposits

Nebeus offers a great variety of payment channels:

  • Deposit directly from your Visa or MasterCard charged at 2.90% per transaction – this is the standard rate of most other platforms.
  • Deposit cash at a Cash Collection Point near you for a fee of 6.50% to add or send funds – this option is great for those who do not have access to the other methods, and although it is a little higher in terms of fees, it still provides an option that would otherwise not be available.
  • They also accept free SEPA deposits, and to send it is 7 € or 1% fee.
  • Supercharged Wire Transfer for free – another great option that shows they are trying to accommodate as many people as possible.

Exchange

Nebeus makes it easy for you to add fiat and exchange it to crypto such as BTC or ETH within your account. Recently they launched deposits of USDC and USDT too. They also provide the option to exchange crypto for Euros, US Dollars, or British Pounds.

You can buy crypto by sending a wire transfer in Euros or transfer money via your bank account. These funds are then converted into crypto and deposited into your Wallet within one business day.

Nebeus charges a fee of up to 0.35% when you buy or sell cryptocurrency.

In June, they added two stablecoins, namely Tether (USDT) & USD Coin (USDC), and integrated both coins into some of their services, enabling you to:

  • Buy, sell, and exchange stablecoins with crypto and fiat.
  • Get crypto-backed loans in stablecoins.
  • Top-up your mobile phone using stablecoins.
  • Send or receive stablecoins to and from any other digital wallet.
  • Withdraw stablecoins directly to your MasterCard.
  • Send stablecoins to any other Nebeus user for free.

Borrow

As crypto has started to become a much better alternative store of value and investment option, it only makes us wonder about other ways to benefit from the crypto while holding it. This is where crypto-backed loans come in. It is a way to leverage your crypto and use it as collateral. Crypto-backed loans are an excellent option that allows you to use your loan to pay for your daily expenses without touching your crypto. Nebeus’ loans are pre-approved and insured.

Nebeus offers two options for borrowing.

  1. Quick Loans. These are instant, pre-approved loans that are offered directly from their treasury.
  2. Flexible loans. Fully customizable, where you can select your terms and borrow up to 80% of your crypto value.

How to Borrow?

Once you have opened your Nebeus account, you can get a loan in 3 steps:

  1. Transfer your crypto from any other wallet for free
  2. Choose the loan you would like to take out
  3. Get cash while still keeping your crypto

Fees

  • Quick Loans: 50% Loan-To-Value and 0% interest for three months.
  • Flexible Loans: up to 80% Loan-To-Value, interest rate, and borrow up to €250,000 for as long as 36 months.

The fees are pretty similar to the other prominent players in the lending space like YouHodler and Nexo.

These are two of my other favorite crypto lending platforms to earn interest in your crypto and obtain loans by providing crypto as collateral.

Transfers

You can transfer to over 150 countries from your Nebeus account as long as your account is verified.

  • The minimum amount to send is 5€
  • The maximum amount you can send is 3500€ per transaction
  • The fee for transferring is 2.8%

Nebeus-crypto-renting

You can also use SEPA transfers/withdrawals for a fee of 1%, with a minimum of €7. Deposits with SEPA are free.

Rent

If you are not interested in borrowing, perhaps an option that might be interesting to you is the rent feature that Nebeus offers. Crypto renting is a way to rent your crypto to someone and get rewarded for it.

The two options at Nebeus are:

  • Juniper – Rent a minimum of 0.0025 BTC or 0.03 ETH for more than one month to earn 3.5% per year.
  • Sequoia – Rent a minimum of 0.12 BTC or 3 ETH for more than four months to earn 6.75% per year.

How to Insure Your Crypto?

Nebeus stores your crypto in their Nebeus Vault, a Class III bank-grade secure cold storage that is a disconnected device, making it safer from cyber attacks and insured up to $100M by Lloyds of London.

Insure-with-Nebeus

Nebeus provides two options insured by Lloyds of London in which you can protect your crypto against risk.

  • Single Insurance at 4€/month for one of your cryptocurrencies.
  • Full Insurance at 6,90€/month for your full vault.

Customer Support

There is no chat service available on Nebeus. When clicking on the help link, you are redirected to their knowledge base, and at the very bottom will find the link to submit a ticket. I have submitted a ticket to them; although I received a timely response, it came from a support@…us.zohodesk.eu email address with the subject Re:[## 2662 ##], and this can be easily missed or disregarded as spam. Perhaps something to take note of when requiring support from them.

Status Page

On their website, they have a link to a status page that provides you with a live status of their systems, whether they are operational or not, as well as the downtime. Proving to be quite a thoughtful feature.

Verdict

Overall, I like that Nebeus have taken a simplified approach, and the platform is easy to use for everyday people. Nebeus offers a great one-solution platform that provides a secure wallet to store a combination of fiat and crypto, allowing you to send, withdraw, lend, borrow and earn.

Nebeus aims to create a financial world without boundaries between cash and crypto and be known as a trusted financial service worldwide. Using Nebeus is a great way to help you earn interest on your crypto without needing to sell any of it by implementing some form of lending.

Earn rewards for renting

Filed under: Cryptoassets, Money

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