Nexo is pretty new to the crypto space that sprung up in 2018 in the second quarter, which is a crypto-backed loan system created by Credissimo, a European Fintech company. The company is considered as a market leader in the online lending industry in multiple European industries. They have processed around 1 million loan applications, granting around 79,000 loans in 2017. Nexo came up with a very lucrative business model wherein it enables the crypto owners to use their holdings as collateral and withdraw cash. Nexo brings in together blockchain technology with instant loans, resulting in the world’s first instant cryptocurrency loan system.
Nexo Price today is 0.178312 USD with a market capitalization of $99,854,658 and a circulating supply of 560,000,011 USD.
Nexo’s business model is very innovative, created with the aim of providing instant crypto loans to users. Nexo claims to be “automatic, flexible and cost-efficient means of obtaining liquidity that is secured by the value of the client’s digital assets.” The process of loan is instant and simple. The benefits of using Nexo is that there are no hidden fees, credit checks or capital gain taxes.
Since the system uses smart contract and blockchain technology, a high level of transparency is guaranteed. The Nexo users benefit from a high level of asset liquidity and even offers a free credit card to the retail clients, which might be used for daily transactions. Nexo token is a US-SEC compliant security currency backed by the assets in Nexo’s loan portfolio.
Wallet Investor predicted that the value of Nexo might depreciate and it might reach $0.005070 by the end of this year.
Crypto ground has predicted Nexo price for another 6 months and 1 year. They predicted that in six months, Nexo might reach $0.1087 and in a year, NEXO might reach $0.1174. In 5 years, NEXO might reach $0.2554 as per Crypto ground predictions.
Digital Coin is a crypto prediction website that has predicted that by 2025, NEXO can reach $0.2507. They have predicted that in 7 years time frame, NEXO may reach the highest in 2023.
Very recently, Litecoin has been added as Nexo’s latest crypto collateral option, which will enable instant credit lines. These features might help in the creation of tax-efficiency. Nexo user base also grew over 170K and attracting new investors and traders for investment-related decisions. Now that it has lowered the crypto loans to $500, it has been attracting every user. These growth initiatives might take Nexo a long way, and by 2020, Nexo might reach $0.2453.
Nexo will partner with more credit lines like BetProtocol in the years to come. The user base is also going to grow exponentially by the time Nexo has more integrations and partnerships. By 2020, Nexo is going to be in the limelight more as a unique selling proposition. Anyway, Nexo has big names surrounding it like BitGo and Lloyd which gives it an edge over others hence by 2020, the NEXO price is expected to reach $0.2453.
Nexo is bound to grow over five years time frame and might attain greater heights. Nexo is one of the crypto tokens which investors and traders are positive about. By 2023, Nexo might reach $0.7667.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!