Nexo platform was created in 2017 by Credissimo, a leading European FinTech Group located in Bulgaria, to provide crypto-backed loans. Nexo became their technological innovation with a unique opportunity to use cryptocurrency owners’ holdings. It offers a business model when cryptocurrency holders use their assets as collateral to get instant loans. In fact, Nexo has created an instant crypto loan system based on blockchain technologies. The peculiarities of the NEXO usage Instant crypto loans represent the key product offered by Nexo.
- Passive income is what we all pursue in our investment journey — after all , having money to work for you rather than solely working for money would leave us more time for those things that matter in life, isn’t it?
- It’s essential to purchase from a trusted, secure crypto exchange like Huobi Global.
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- SoFi Crypto is offered through SoFi Digital Assets, LLC. Bitcoin and other cryptocurrencies aren’t endorsed or guaranteed by any government, are volatile, involve a high degree of risk, and are unsuitable for most investors.
- You will see the amount required for the processing of your transaction before submitting the withdrawal.
Nexo allows its users to earn interest up to 17% ARP by keeping the assets on the platform. Nexo offers zero transaction fees, top-tier insurance, daily payouts, and flexible earnings that depend on the cryptocurrency. The project is marketed to any user or organization that wants liquidity from their assets. The company made it clear that the more NEXO you hold in your portfolio the wider the set of benefits you can expect is. These benefits range from having the ability to request one to five free withdrawals a month depending on the account you have chosen, to account level dependant limit and interest rates.
Nexo Interface & Mobile
Earn an interest rate of up to 12% on this digital fiat — an interest rate far more superior than that offered by banks. Nexo is a strong investment platform contender for crypto enthusiasts — especially those users who are based outside of the U.S. It rewards users who continue to stick with the platform for a longer period of time and those who engage with it in ways that ultimately serve the betterment of the platform.
The receiving account can be a personal account or a business account. The bull rally at the end of spring 2021 helped NEXO to reach its all-time high of $4.07 in early May. But the price dropped dramatically after just 2 weeks and the token dipped to $1.4 on May 23.
Between 2018 and 2021, the price of NEXO barely rose above 20 cents, and its market capitalization wavered between $30 million and $70 million. When bitcoin boomed in 2021, NEXO soared, rising to a market cap of $2.2 billion in May of that year and an all-time high of $4.07. When bitcoin dipped, so did NEXO, at least until November 2021. The NEXO Token is our native cryptocurrency which brings token holders numerous benefits on our platform.
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The company employs various security measures intended to prevent any malicious activity on the platform. Nevertheless, always keep in mind no crypto platform or network is completely secure. You should do some research on https://findmyfinancialcoach.com/where-to-buy-nexo-tokens-quick-guide/ your own before making the decision whether to get involved with Nexo or not. Nexo Oracle is at the core of the Nexo ecosystem as it empowers all the designated functions and various features the platform has to offer.
If you are looking to buy or sell NEXO, Bitrue is currently the most active exchange. Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future.
In order to earn on your crypto holdings, simply buy or transfer any of the 32 assets supported on the platform, and leave it. Lending platforms have become one of the most popular places for customers who want to earn a nice little APY on their funds. If you are someone sitting on some crypto and don’t want it to collect dust sitting in a wallet doing nothing, you can consider depositing them on a lending platform like Nexo for some nice returns.