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Nexo Review: Is it a Trusted Crypto Lending Platform?

Are you confused about trading on Nexo? Here’s everything about the Nexo and services available to you on this platform.

Nexo is the best platform that allows earning interest in digital assets. However, the interest rate may vary from cryptocurrency coins and distribution methods. You can earn up to 12% APR on digital assets.

This platform enables the users to unlock the potential value of their cryptocurrency holdings without the need to sell.

With convenient interest accounts and crypto-backed loans, Nexo also issues credit cards to the users and owns native tokens that give holders the perk of accessing the products.

Continue reading to know more about Nexo.

Nexo: Earn Maximum Interest

This platform enables users to deposit cryptocurrencies and stablecoins to earn maximum returns. The interest payments will be made daily. Moreover, users can easily withdraw their cryptocurrency anytime. You can earn upto 12 percent on Nexo platform.

The interest rate is determined by the type of interest payout and the Nexo Loyalty Tier. With such flexibility, users can easily generate high interest rates on the crypto deposits based on the minimum allocation of their Nexo tokens in their portfolio.

Nexo Tokens

For now, Nexo is also featuring the ERC20 token, which is also known as NEXO. These tokens claim to be the world’s biggest dividend-paying and asset-backed tokens. Plus, it shares around 30% of the profit with the NEXO token holders in dividends.

The NEXO also regulates the incentives that further encourage the crypto holders to hold NEXO tokens. At present, the NEXO holders receive multiple benefits both from the borrower side and the lending side in the form of the lowest interest rate on credit lines and higher APYs reserved.

Access to NEXO Crypto Banking Services for Loans

One of the amazing things about this app is that you can utilize Nexo’s banking services to put their digital assets as collateral and credit instant fiat loans. Furthermore, the credit lines can also be adjusted dynamically based on the crypto collateral market price fluctuation.

With such credit lines provided by the Nexo, you can back loans by basket-accepted virtual currencies. This will further enable the users to use their Nexo holdings efficiently. The loan can also be paid back via bank wire and also with cryptocurrency.

Supported Cryptocurrencies on Nexo

Nexo is the best app for trading Cryptocurrencies because it accepts multiple currencies like Ethereum, Bitcoin, Stellar, Litecoin, EOS, and many more. After depositing the collaterals, you get instant access to the value of the holdings by taking out the loan in the currency of your choice.

Safety and Insurance

Nexo recently has partnered with Bitgo, which allows you to secure your currency and provides $100mm insurance for the custodial assets. Moreover, the Nexo is licensed from the European Financial institutions.

It also signed up a partnership with Ledger to diversify its infrastructure. It also utilizes the Ledger Vaults that insure assets near about $150mm.

Pros

  • Maximum interest rate and long-term investors
  • Mobile apps make convenient trading
  • Highly secured and insurance
  • Holds Stablecoins

Cons

  • Lenders Interest is higher in comparison to borrowers.

Source: Cryptobullsclub

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