What Is Nexo.io
Nexo.io is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. Users deposit an accepted token — such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) or XRP (XRP) — as collateral to receive a loan in the form of a fiat currency or stablecoin. Nexo has a native token, NEXO, that when locked in the platform grants users benefits such as discounts on interest accumulated on loans and the opportunity to receive interest payments on funds deposited. Token holders also receive dividends from Nexo’s profits.
Important Points Table Of Nexo.io
| Basic | Points |
|---|---|
| Coin Name | Nexo.io |
| Short Name | NEXO |
| Max Supply | 695,658,161 CEL |
| Explorer | Click Here To View |
| Source | Click Here To View |
| Website | Click Here To Visit |
How to Buy the Nexo.io (NEXO) Coin & Trade On Exchange?
Earn Interest Earn daily interest on your crypto and EUR, GBP and USD
- Up to 12% annual interest
- Unique daily payout
- $375 million insurance on all custodial assets
- Add or withdraw funds at any time
What Makes Nexo Unique?
According to its whitepaper, Nexo.io is the first-ever provider of instant cryptocurrency-backed loans and it intends to solve inefficiencies in the lending market. Its automated lending process uses smart contracts and an oracle on the Ethereum blockchain to manage loans. After a user transfers cryptocurrency to a Nexo-controlled wallet, the oracle establishes the loan and the user is instantly allocated the funds. When the user makes a deposit in order to repay the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain. Smart contracts are used to power NEXO and to record user balances.
Nexo is marketed to individual and institutional investors, cryptocurrency companies, exchanges, miners and others who want liquidity from their assets. The company makes a profit from the interest accumulated on loans, and it also offers institutional lending and consulting services.
Nexo.io seeks to build a user base of clients that continue to use the platform and remain invested in NEXO. As such, the company announced a loyalty program that rewards those who keep NEXO in their accounts, giving them preferential interest rates on loans and higher yields on savings. Nexo also distributes 30% of its profits to NEXO token holders in the form of dividends.
Borrow Cash Or Stable coin
- Interest starting from 5.9% APR*
- $375 million insurance on all custodial assets
- A minimum of $50 and a maximum of $2 million
- Automatic approval, no credit checks
Why Choose Nexo.io
- 100% automated platform. Deposit your assets, withdraw loans, and repay them on your own.
- You are in full control. There are no minimum loan repayments in fiat. You can repay your loan at any time. You can repay it in fiat, crypto or a combination of fiat and crypto. For minimum crypto repayments, please click here.
- NO fees – one interest rate. You decide when to pay the interest. Zero other fees. Zero unpleasant surprises.
- High yield interest of up to 12%. Nexo offers its customers an unmatched 12% per year on both stablecoins (such as USDT, USDC, TUSD, PAX, DAI, HUSD) and fiat savings, as well as up to 5% on other cryptocurrencies including BTC and ETH. Send your passive assets to Nexo and let them work for you without having them locked as we allow you to withdraw them at any time.
- Military-grade security. Nexo partners with the leading security providers in the blockchain space, including BitGo, Ledger, Jumio, Securitize, and Cloudflare, among others, to secure all your digital assets.
- $375,000,000.00 insurance. Our custodians collectively carry $375M in insurance protections for digital assets held on the Nexo platform via the most prestigious syndicates of underwriters. This premium service comes in at no additional cost (details can be found here and here).
- Multi-asset support. You can deposit BTC, ETH, PAXG, XRP, LTC, BNB, XLM, NEXO, BCH, EOS, LINK, TRX and stablecoin. Nexo.io keep adding support for new assets on a regular basis. You can deposit several different assets at any time and your loan limit will be automatically calculated. When the value of your assets increases, your loan limit will automatically increase.
- Truly a global platform. You can withdraw an instant loan in 40+ fiat currencies across 200+ countries. Usually, you will receive the funds with 1 business day. You can also get instant loans in stablecoins.
- Avoid capital gains taxes. When you take a crypto loan and spend that loan, you avoid paying any capital gains taxes, which otherwise in many countries you have to pay when you sell your crypto.
How Is the Nexo Network Secured?
Nexo.io is a privately owned company and, as such, is responsible for the security of its networks and user funds. Nexo stores its digital assets with BitGo, a crypto-asset custodian that keeps tokens in cold storage wallets and is covered by a $100 million insurance policy. In November 2019, Nexo reported that it was ISO/IEC 27001:2013 certified after being audited by RINA and the Consortium for IT Software Quality.
Its native token, NEXO, is an ERC-20 token issued on the Ethereum blockchain, meaning that any on-chain NEXO transactions are validated and secured by the Ethereum mainnet using its Ethash proof-of-work consensus algorithm. Miners compete among each other to add new blocks to the blockchain, and a majority of all nodes in the network must validate a record for it to be posted.
Upon its launch, Nexo.io reported that its token had been “fully audited.” In November 2019, the smart contracts were independently audited by Castillo Network, which found no critical security issues.
Your Digital Assets Are Just a Swipe Away
The only card that lets you spend the value of your digital assets without having to sell them. Get instant cashback on all purchases and take advantage of flexible repayment options.
- Accepted by 40+ million merchants worldwide
- Instant 2% cashback on all purchases
- Flexible repayment options
- Free virtual cards
- Payments in local currencies
- No monthly/annual fees, no FX fees
Where Can You Buy Nexo (NEXO)?
Nexo.io can be purchased on cryptocurrency exchanges such as Huobi Global, UPEX, Hoo and Bitrue, among others. It can be traded against fiat currencies such as the South Korean won and the Indian rupee, cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), and the stablecoin Tether (USDT).
Are you interested in buying NEXO or other cryptocurrencies such as Bitcoin? CoinMarketCap has a simple, step-by-step guide to teach you all about crypto and how to buy your first coins.
The ultimate Security
The Nexo.io platform is equipped with a top-quality security infrastructure designed to ensure maximum protection of assets at all times. Get access to the Instant Crypto Credit Lines and high-yield ‘Earn Interest’ account anytime, any place with the Nexo Wallet App.