What is Nexo (NEXO)?
Future of NEXO Cryptocurrency and know how to buy NEXO
What is Nexo token?
Nexo is a relatively new project which has recently gained quite a lot of popularity in the crypto market. A big FinTech company has developed the token. But they are also supported by many of the big names in the crypto space. It can be regarded as one of the main reasons behind the rising popularity of the Nexo token.
Nexo: The Basics
- Nexo is a project that is aimed towards providing lending services while making use of cryptocurrencies as collateral. However, the company is faced with specific issues, but the Nexo team are working hard to solve the problems.
- With the help of Nexo token, users will be able to get fiat currency while holding the ownership over their digital assets.
- The platform is known to function by permitting borrowers to lock their crypto coins as collateral and get fiat currency in exchange. The money is either transferred to the bank account directly, or it is added to a credit card. The limit of the credit card is, however, dependent on the market volatility. The card will be adjusted in response to the changes in value in the crypto market.
- The core team of Nexo consists of 14 members who are all qualified people. Most of them are known to hold a good position in the FinTech Company.
- Nexo is a company based in Switzerland. But it makes its loans available all across the world. In other words, any crypto holder will be able to benefit themselves from Nexo loan. Also, the loans are collateralised, and therefore, there is no need for borrowers to worry about their approvals or credit history.
- Any Nexo loan taken can be repaid using fiat currency. Borrowers can also use Nexo token to repay their loan. The company has made an arrangement that makes it easier for borrowers to repay their loans.
- Nexo token is a security token, and it is compliant with the Securities and Exchange Commission regulation D rule 506(c).
What are the benefits of Nexo token?
- Nexo as a lending platform does an excellent job for the borrowers. It allows crypto coins holder to access millions of dollars without actually giving up their cryptocurrency ownership. It is a big deal for users.
- Nexo doesn’t only allow its borrowers to unlock value, but it also allows them to gain access to funds. They don’t even have to pay taxes for borrowing the amount they need.
- The Nexo loan can be repaid using fiat currency or Nexo tokens. In case, you use Nexo tokens to repay the loan you will be entitled to a 50% interest rate discount. Not just that but holding Nexo tokens also widens the loan limit. Besides, you are also entitled to a 30% Nexo profit-share payment as well.
- Another massive advantage of nexo is that it is backed by a team that consists of professionals who have more than 10 years of experience. They are dedicatedly working towards the success of the platform.
Also Read: Complete Analysis of Nexo | Live Nexo (NEXO) Price Charts And Predictions
How to buy and store Nexo token?
Nexo is a popular lending platform which has shown the right amount of growth in the last few weeks. It is expected that the platform will grow further in its popularity in the future.
How to buy Nexo?
Since Nexo is a favorite crypto token, it is available in many of the reputed crypto exchanges in the world. But for you, you need to choose the one that ensures the safety and security of your Nexo tokens. In that case, you can rely on options such as CoinSwitch, Hotbit, HitBTC, CryptalDash and more.
How to store?
Nexo token can be stored in several crypto wallets. In case, you are unable to decide the right option for yourself; you can choose from Trezor, Exodus and Coinnomi. Other than these there are other wallets as well where you can store Nexo coins. For example, Ledger Nano S and Ledger Blue.
What is the future of the Nexo token?
There is a perfect chance that cryptocurrency lending will grow into a million dollar industry in the coming future. In that case, Nexo which is a lending platform is expected to benefit a lot from this. Not just that, but it also makes the Nexo token worth investing.
How is Nexo token different from the other cryptocurrencies?
- Nexo is a blockchain based lending platform that allows borrowers to get instant loans. It will enable the borrowers to use their holdings as collateral to withdraw cash. The users are allowed to have 100% access to the crypto assets while they have instant access to cash. Also, they can access the value of their crypto assets too.
- Nexo is the first crypto loan system in the world which makes it unique in itself. The best thing about the Nexo is that it makes the entire process of borrowing loans straightforward and comfortable for the borrowers.
- Nexo also offers a high level of transparency which is made possible because of blockchain technology, algorithmic procedures and smart contracts.
- Nexo also provides a high level of asset liquidity to its users. It is yet another good thing about the platform. Besides, users don’t have to pay any withdrawal or transactions fees either.
- Nexo doesn’t perform any credit checks on their borrowers. It means that the borrowers don’t have to worry about their credibility being reduced. With Nexo, you can have the assurance of your loans getting approved instantly.
Should you invest in Nexo token?
- With all its essential features, Nexo can build a successful platform for itself. It should gain the interest of the investors to invest in the said token in the future.
- Considering all the features of the Nexo token, it can be said that it has a bright future ahead. Therefore, it is considered to be beneficial to own some Nexo tokens in the future. Let’s not forget about the dividends and interests that you will receive on your loans.