Nexo puts an end to the issues creditors and debtors encounter every day. I could remember people using their houses as collateral when getting loans from banks and other loaning firms. And things went tough on them, most times the house worths more than the borrowed money. So with Nexo, your collateral is cryptocurrency.
What is Nexo?
Nexo is a cryptocurrency platform that lends money to people around the world. With their various fiat currency options, you will be loaned money and receive it in your country currency or a stable coin. My introduction above cleared the collateral aspect but skipped their 30 percent interest to Nexo Token holders.
Types of Nexo interests to participants.
To benefit from Nexo you need to create an account on Nexo.io and enable 2FA authentication to have top-up page access. The richest users own Nexo tokens and earn a dividend of 30% out of the profits made from money invested in this project and loan interest collected from debtors. That’s why it’s important to own a Nexo token.
Notwithstanding the ownership of Nexo tokens, other cryptocurrencies like Bitcoin, Ethereum, etc earn at least 5% interest. To earn more interest than the average users, you have to top up as many cryptocurrencies as possible and you will also benefit from the original volatility of your coin.
How to get a loan?
Nexo restricts its user’s loan capacity via verification levels ranging from “starter to advanced”. These levels serve loan seekers a minimum of $10 to a maximum of $2,000,000 credit line withdrawal.
To increase your limits, you are to top-up your account and also provide some Government approved documents to complete the verification.
The most important is Top-up
The eligibility for taking any loan in the world is collateral. It’s impossible to get a loan from Nexo without a Top-up.
How to top-up?
The user’s interface on Nexo.io is friendly and simple to Top-up your balance. A click on the “Top-up button” of your coin choice which you want to replenish, leads to their wallet address. Note that pegged coins will be frozen, so send from the main blockchain of your coin.
To top up your Nexo balance with Nexo token. You need to buy Nexo at $0.64 per 1 in any exchange that sells Nexo tokens. Exchange such as Huobi or Changelly. But it’s simpler to buy through Nexo.io on the Changelly website.
In summary, Nexo is a very secure project. All funds are safe and secured on a cryptocurrency security standard. with multiple signature wallets and cold storage. whenever you need to borrow money Nexo is your Best friend.