Nexo Review: How to Earn 12% Interest on your Crypto?
Tired of your traditional banks and their unacceptance of crypto yet? If yes, you might have landed in the right place looking for the right app.
Yes, NEXO is your next best option to access better borrowing and attractive interest rates for your crypto.
Just storing your cryptos with you is a bit too obsolete now. As you get interest on your fiat currency for just storing them with your trusted banks and you can use them to take credit, similarly now you can store and receive credit against your Crypto.
What is Nexo?
Nexo is a platform which allows interest and lets you borrow against your cryptocurrency.
It was founded by Antoni Trenchev and Kosta Kantchev in 2017. The company started with a slogan, “Banking on Crypto” and with a motive to become an alternative for traditional banks.
You don’t have to sit on your cryptos waiting for it’s prices to rise in order to gain from your investments.
With Nexo, now you can just earn interest for holding cryptos.
The platform also allows you to get credit against your cryptocurrency.
Notable Features of Nexo
Cash loan : You can avail instant cash loans by lending your crypto assets. Getting cash or other coins for your resting crypto assets is one of the important facilities that Nexo offers.
One can lend crypto worth $10 to $2 million.
Nexo is a lending platform for the Crypto assets. Nexo makes sure to protect your digital wallet which stores your crypto as well as give you cash based on the crypto assets which are kept with them.
Exchange: Nexo also facilitates trading of crypto. In partnership with various exchange platforms, Nexo also provides its customers to trade their crypto at attractive prices. One can trade between 100 crypto with no fees.
Savings Interest: Sitting on your cryptos won’t earn you anything unless the market prices rise, which is surely unpredictable. But, with Nexo you can earn and save on your cryptos without any insecurity. With the interest rates on crypto currency ranging from 4% — 8% , you can hold cryptos and earn from them at the same time.
Nexo token and Nexo Card: Nexo token is Nexo’s own native token given to customers to avail more benefits than the ones who don’t hold it. With Nexo token, you get more interest on your savings and have to pay less interest on the loan you take against crypto.
How to open a Nexo account ?
A Nexo account can be opened with either their mobile app or website.
- Visit the Nexo website or download the Nexo app on your phone.
- Click on “create account”
- Provide your email address
- Select a strong password
- Confirm your email address
- Your account is created
If you’re already using Nexo, you know it’s a good app to store, trade and borrow from your cryptos. But if you’re a new user, you must get your hands on the Nexo app and try to earn interest by your stored cryptos. Nexo is an ideal choice for regular investors as well as beginners.
It is to be noted that if you’ve taken a loan against crypto and your crypto values fall down in the market drastically, you need to pay back some of the amount immediately to hold your loan.
Overall it’s a good app that offers attractive interest rates and provides a one stop for all crypto needs.
Actually, the best Nexo pays is 10 percent for stables.
If you hold 10 percent or more of your portfolio in Nexo tokens, and agree to take interest in Nexo tokens, you can get additional 2 percent, making it 12 percent.
To read the detailed review on Nexo, https://cryptobullsclub.com/nexo-review/