Nexo is a cryptocurrency lending platform established in 2018, offering deposit, loan, and crypto trading services with competitive interest rates.
Nexo supports a variety of digital assets, allowing users to earn interest up to 17%, while borrowing non-cash or stablecoins at the lowest interest rates of 0%, ensuring asset insurance up to $375 million.
MAIN CONTENT
Nexo is a lending platform for collateralized cryptocurrency with a variety of products and assets.
The Nexo ecosystem includes buying crypto, earning profits, borrowing money, trading, and the Nexo Card.
NEXO Token provides utilities for borrowing with discounts, paying dividends, and increasing loan limits.
What is Nexo?
Nexo was established in February 2018, aiming to become the 'digital bank of cryptocurrency' with lending, savings, and crypto financial services. According to CEO Kosta Kantchev, Nexo focuses on providing automatic and flexible liquidity, allowing customers to retain ownership of their assets while being able to borrow fiat or stablecoins at the lowest interest rates of 0%.
Users can deposit more than 34 types of coins to earn APR interest rates from 3% to 17%, while also borrowing over 40 types of digital and fiat assets. Nexo ensures asset safety with insurance worth $375 million against theft or cyber attacks.
What products are offered by Nexo?
Nexo builds an ecosystem of integrated products, optimizing the user experience in the cryptocurrency field. According to the 2023 financial report, Nexo attracts a large number of users thanks to product diversity and competitive interest rates.
How to buy crypto on Nexo?
By integrating payment through Mastercard and Visa, Nexo allows users to quickly buy crypto with just a one-step registration and one-click purchase order. Nexo's Smart Routing system automatically compares prices across 10 major exchanges to ensure the lowest purchase cost.
Buying crypto on Nexo is not only convenient but also automatically generates profits with APY up to 17% right after the asset is purchased.
Kosta Kantchev, CEO of Nexo, 2023
How to earn crypto profits?
Nexo supports deposits of 34 types of cryptocurrencies, including BTC, ETH, USDT, BNB, ADA... to earn interest rates from 3% to 17% APR paid daily, with no service fees. As of June 2024, the $375 million insurance protects user assets against declines from hackers or technical errors.
What are the advantages of borrowing on Nexo?
Nexo allows borrowing cash or stablecoins from $50 to $2 million with the lowest borrowing interest rate of 0%, based on collateralized crypto assets. The borrowing process is simple, consisting of registration, transferring crypto as collateral, and receiving loans in over 40 types of fiat or crypto. The maximum borrowing rate is up to 50% of the collateral for Bitcoin.
Nexo creates a flexible cash loan solution without losing control of users' digital assets.
Kosta Kantchev, CEO of Nexo, 2023
What makes Nexo Exchange stand out?
Nexo Exchange offers trading of over 300 coin pairs, including many rare pairs not found on other exchanges. VIP users receive a 0.5% cashback on transaction value based on their ownership ratio of NEXO Token, enhancing liquidity and optimal trading experience.
What is Nexo Card and what are its advantages?
Nexo Card is a credit card that allows payments for purchases at 40 million stores worldwide, ATM withdrawals, and tax payments by automatically converting cryptocurrency to fiat. Additionally, the card integrates crypto loans as collateral. Users receive cashback of 0.5% on transaction value with BTC and 2% with NEXO Token, without monthly or annual card maintenance fees.
Basic information about NEXO Token?
Token Name: Nexo
Code: NEXO
Blockchain: Ethereum (ERC-20)
Contract: 0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206
Total supply: 1 billion NEXO
Circulating supply: 560 million NEXO (as of June 2024)
Token Type: Utility
What utilities does NEXO Token offer?
NEXO Token is considered a restricted security, used for debt payments with a 50% interest rate discount. Token holders also enjoy higher borrowing limits and receive 30% of monthly revenues in the form of dividends, creating a long-term incentive for investors to hold the Token.
How is NEXO Token allocated?
Token allocation includes the founding team, reserve fund, investors, and a portion for users. This structure aims to maintain stability and sustainable development of the project in the long term.
What is the repayment schedule for NEXO Token?
The repayment schedule for Tokens is designed in detail and transparently, with regular Token repayment phases ensuring stability in value and reliability for holders.
What is the development roadmap of Nexo?
Since February 2018 with the first airdrop, Nexo has continuously expanded its crypto collateral lending services, integrated its Token on various exchanges, developed the Nexo Card credit card, and partnered with many major partners such as Ledger, Blockchain.com. In Q2 2019, Nexo made significant progress by opening APIs for businesses and raising the lending ceiling.
How to earn and own NEXO Token?
Users can easily buy NEXO on major exchanges like Binance, Huobi, FTX, and Bitfinex with high trading volumes and large liquidity, meeting the diverse needs of investors.
Who are the founding team of Nexo?
Nexo was founded by Kosta Kantchev (CEO, finance master's degree, CAMLS expert) and Antoni Trenchev (co-founder, lawyer with political and legal experience). CTO Vasil Petrov, with 16 years of experience in system development, ensures a stable and highly secure platform.
Who are Nexo's investment funds and strategic partners?
Nexo is backed by many large funds and reputable partners such as Terra, Blockchain.com, Ledger, PAXOS, Bitgo, and Bakkt. These collaborations contribute to increasing credibility and expanding the ecosystem, creating a long-term development foundation for the project.
Frequently Asked Questions
Is Nexo safe for depositing cryptocurrency?
Nexo has user asset insurance up to $375 million, protecting against hacking risks or lost private keys, ensuring safety for deposited assets.
What is the lowest borrowing interest rate on Nexo?
The borrowing interest rate can be as low as 0%, depending on the type of collateral and the loan limit chosen by the user.
How to earn interest from depositing cryptocurrency on Nexo?
Depositors receive daily interest with APR up to 17%, with interest automatically credited to their account and no service fees.
Does Nexo Card have maintenance fees?
Nexo Card does not require monthly or annual maintenance fees, and users receive cashback when making purchases or withdrawals.
Where can you buy NEXO Token?
NEXO Token is traded on major exchanges such as Binance, Huobi, FTX, Bitfinex with high liquidity and transparent pricing.
Source: https://tintucbitcoin.com/nexo-nexo-la-gi/
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