If you’ve followed this blog or my YouTube channel, you know I’ve invested heavily in the YieldNodes platform.

In fact, I recently wrote a full YieldNodes review on this link. 

As I’ve continued researching YieldNodes, I’ve grown more comfortable putting a decent chunk of my crypto into this project. 

Why am I so confident investing in this site? 

Well, there are multiple reasons I’m on YieldNodes. However, I want to focus on YieldNodes’ audit results in this post. 

When I see critiques of YieldNodes on Reddit or YouTube, they often bring up this company’s “unique” audit feature.

Why?

I won’t lie: YieldNodes’ audits aren’t “professional.” 

Instead of working with a recognized auditing firm, YieldNodes invites members of the community to visit their offices and sign a report.

If you’re going to get into YieldNodes, you need to feel OK with their auditing process. 

In this review, I will try to give an unbiased opinion on YieldNodes’ audit results and their procedures.

Yes, I recognize I have a bias since I’m invested in this platform. However, I’ll admit that this audit procedure presents some risks. 

If you feel queasy as I go over YieldNodes audit results, YieldNodes probably isn’t your best investment strategy. 

Back Up, Spencer! — What Is YieldNodes? 

Here’s a super fast overview for those who don’t know what “YieldNodes” is.

Launched in beta in 2019, YieldNodes is an online platform that generates yield via “masternodes.”

Like centralized cloud companies, blockchains need masternodes to store data and process transactions. However, to keep their blockchains decentralized, protocols need novel ways to incentivize participants. 

Since running a masternode requires a lot of energy, blockchains reward these operators with “rewards” paid out in crypto.

YieldNodes distributes your crypto into these “masternodes” to generate “yield.” 

Hence the company’s name!

YieldNodes promises to distribute 85 percent of their crypto rewards from these masternode projects to depositors like you and me. 

There are many small crypto projects YieldNodes operates that you can find listed on its main website. 

While YieldNodes doesn’t make a promise on yearly returns, they average between about 5 – 10 percent per month. 

Interestingly, should the monthly returns dip below 5 percent for three months, YieldNodes promises to reimburse investors. 

As long as you have 500 Euros worth of Bitcoin, you can invest in the YieldNodes project.

Just keep in mind there is a lockup period of six months, and you will pay a penalty to release your initial investment early. 

I’ve gone into greater depth on YieldNodes in many YouTube videos and my YieldNodes review post, so please check those out if you’re still confused. 

What’s The Purpose Of An Audit? 

Before going over YieldNodes’ audit results, it may be helpful to explain exactly what an audit is.

Audits are supposed to be unbiased reports on a company’s financial health.

Traditionally, firms like Deloitte or Ernst & Young will review a business’s financial reports to ensure they’re legit. 

Since auditors aren’t involved in the businesses they’re reviewing, they shouldn’t have any bias in fudging the numbers.

Of course, there are plenty of high-profile auditing scandals, but the purpose of an audit is to keep businesses transparent and accountable. 

A professional audit creates extra trust in an organization, which is why legit businesses should feel comfortable getting them. 

If there’s nothing to hide, then why resist an audit, right?

So, How Does YieldNodes Organize Their Audits?  

As I mentioned in the intro, YieldNodes doesn’t conduct audits in the “traditional” sense.

Instead of hiring a professional third-party auditor, the YieldNodes team decided to open their auditing process to the community.

When you log into your YieldNodes account, you can review these “Bi-Yearly Audit & Feasibility Checks.”

Investors are also welcome to enter to become a YieldNodes auditor. 

In the most recent audits, YieldNodes selected ten “auditors” from the community to visit their offices in Malta and write a report. 

YieldNodes hand-picks five people, but the remaining five are chosen at random.

While you have to pay for your airfare, YieldNodes promises to pay for your hotel stay as you meet the team and tour their operations.

Plus, auditors get a guided tour of Malta.

Pretty sweet, right?

Honestly, I have yet to audit YieldNodes, so I can’t speak from first-hand experience.

(At least not yet!)

However, the company is open about its auditing procedures.

You can find pictures, names, and testimonies from everyone who took YieldNodes up on its auditing offer.  

What Do I Think Of YieldNodes’ Audit Results? 

I know what you’re thinking: How can average folks like you and I audit a company?

Unless people go to college to become an auditor, how do they know what to look for?

That’s a valid concern. 

Although the bios of the people who audit YieldNodes look legit, there’s no knowing their “methodology” for screening this company.

Heck, we don’t know if some of these people just want a relaxing trip to Malta! 

However, my gut feeling is that the audit reports on YieldNodes’ website are a pro rather than a con.

Let me explain.

Granted, these audits don’t have the official approval you’d get with a company like Deloitte.

Yet, I doubt most people would drop everything to fly to Malta to audit YieldNodes if they weren’t at least curious about their operations. 

YieldNodes says all auditors can see these crucial pieces of info:

• Crypto wallets
• Staking balances
• Nodes in operation
• Capital allocation
• Balancing of positions
• Technological infrastructure

And it’s not just the audit reports on the site that give me confidence.

Everyone on the YieldNodes team is fully doxxed and has LinkedIn profiles.

Plus, I’ve contacted the CEO Steve H. on multiple occasions.

This team is super transparent and responsive with their clients, and I doubt they’d conduct themselves differently during this audit process.

Again, I can’t speak from experience on how this audit works. 

My personal experiences chatting with the company and using the platform make me believe there’s nothing “fishy” going on here. 

If you’re still skeptical about YieldNodes’ audit procedure, I recommend reaching out to the YieldNodes team for more direct answers. 

Whenever I’ve had a question about how YieldNodes works, I’ve found that Steve and the other team members are willing to help.

So, How Do YieldNodes’ Audit Results Sway Your Opinion? 

Look, I’m not trying to convince you to use YieldNodes.

You may feel this audit procedure is sketchy, and that’s OK! 

My goal in putting out these posts is to expose more people to YieldNodes and share my personal opinions.

Personally, I don’t see these audits as a dealbreaker.

If anything, I think YieldNodes’ community audits are a unique way to build trust and transparency.

I’m also hoping to participate in a future YieldNodes audit to provide my readers with more accurate info. 

At this point, I could only say that YieldNodes’ audit results make me feel better about using this platform. 

Again, I recognize there are risks to investing in YieldNodes, so please don’t jump into this site just because I’m on it.

Take your time watching my previous YouTube reviews and reading my guides to better understand the potential pitfalls of YieldNodes.

Also, don’t hesitate to get social with the YieldNodes team. 

After conducting some more research on how YieldNodes works, you should have a good idea of how much (if any) you feel comfortable investing in this site.