As the cryptocurrency market booms, investment opportunities have become limited in the sense that the only way cryptocurrencies could be profited from was to sell of cryptocurrencies once they have appreciated in value. However, Nexo aims to transform that by giving investors more options to earn through their cryptocurrencies without having to sell them off. This makes the cryptocurrency a very interesting proposition.
What is Nexo?
Nexo may have one of the strongest team working behind it. According to the co-founder Antoni Trenchev, Nexo is not a startup but a well-established company. The development team consists of professionals with over 12 years of experience in the FinTech sector.
Nexo’s Crypto Credit Lines enables users to submit around twenty different cryptocurrencies as collateral and receive an instant loan in around forty fiat currencies across 200 jurisdictions. The platform accepts some of the top cryptocurrencies like BTC, ETH, ADA, XRP etc. and is working towards incorporating more cryptocurrencies. There are no hidden fees or taxes involved in the loans and the transaction is almost instantaneous. Moreover, the Crypto Credit Lines allow users to earn if the cryptocurrency submitted increases in value – meaning their assets would grow proportionately.
Nexo’s token by the same name is the world’s first asset-backed, compliant and dividend-paying token. Holding the token provides higher dividend than a lot of well-known firms. The firm shares 30% of its profits with NEXO token holders. The token can also be utilized as collateral and offers lower interest rates.
Is the cryptocurrency a good investment prospect?
Nexo started off with providing banking services for the blockchain space and has come a long way. The platform is designed to solve the inefficiencies of the lending markets by utilizing the blockchain technology.
Nexo is a license and regulated asset institution which makes it much safer than other alternatives in the market. The platform boasts military-grade security. It also offers a competitive interest rate of 12% which is paid out every day. The platform currently has more than two million users. It has also rolled out plenty of other services like the Nexo Mobile Wallet application and the Nexo Card which facilitates the use of digital assets on the go.
The network has no plans of slowing down its developments which makes it a good long-term investment. The co-founder of the platform, Trenchev, told a news platform that the network is looking into NFTs. This would unlock a lot of different avenues for Nexo and help it on a steady upward trajectory.
