- Category: Finance / Banking
- Coin Launched: August, 2018
- Resources: White Paper
- Official Website: Nexo
- Reddit: Nexo
Nexo is a lending platform for cryptocurrencies. Lenders can lend their digital assets such as Bitcoin, tether, USDC, and more for interest.
Borrowers can collaterized their digital assets in order to take a loan. It currently supports over 40 currencies and have been operating since 2018.
NEXO History / Information / Buying / Staking
The Nexo platform was created in February 2018 as a separate project of a European corporation Credissimo - dealing with new technologies in the field of finance, and specifically the implementation of loans. The company has been operating since 2007, has been inspected by one of the four largest global financial audit companies - Deloitteand systematic supervision by European banks and financial regulators. Over 10 years of experience in the FinTech industry and approximately 130 employees.
HOW NEXO WORKS
Nexo (NEXO) is a platform that allows users to collateralize their crypto. Once an amount has been staked, a user can proportionally borrow against / receive interest on the value of the amount staked. The platform has an incentive in its rewards token NEXO which can also be staked to access proportional rewards or better interest rates. Nexo distributes 30% of its profits in the form of dividends via the NEXO token, classifying it as a digital security asset.
BENEFITS OF USING NEXO
Some of the benefits of using Nexo are:
UP TO 50% HIGER YIELDS WITH OUR EARN ON CRYPTO SUITE.
UP TO .5% CASHBACK ON CRYPTO PURCHASES OR SWAPS VIA THE NEXO EXCHANGE.
BORROWING RATES STARTING FROM JUST 0% APR.
UP TO FIVE FREE CRYPTO WITHDRAWALS.
CAN YOU STAKE NEXO
You need to hold your Nexo tokens into Nexo Wallets. NEXO holders will receive 30% dividends from Nexo profits. Dividends are paid monthly in ETH and distributed proportionately to all NEXO token holders, payment is divided by using smart contract.
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