Top 3: Earn up to 17% interest on your crypto assets
Nexo is a crypto lending platform that was founded in 2018 by the people behind Credissimo. This platform brings lenders and borrowers together to provide credit on a peer-to-peer basis in a fast, secure and cost-effective way. Nexo is regulated by the US stock market watchdog SEC and is backed by its own underlying assets and loan portfolio. The security of the assets held in your Nexo Account is guaranteed by a $375 million custodian insurance policy.
They are one of the biggest crypto lenders in the world with 3 million+ users. The platform is especially interesting for people who feel that they are currently receiving too little interest on their savings account.
Why use Nexo?
There are mainly positive feedbacks why you should Nexo:
- Mainly for high interest on Crypto and Fiat currency.
- The app and website are very easy to use.
- Reliably and good customer support.
- Store and stake crypto’s.
- Daily interest so compound it daily.
Some negative feedbacks:
- Nexo is more a broker so the crypto price is lower (sell order) or higher (buy order) than on an exchange.
- Stablecoins only support ERC20 chain so higher fee when you deposit to Nexo.
- For highest interest rate you need to hold %NEXO token.
How to earn high interest rates?
The type of interest payout:
- If the interest earned is paid in the same crypto, then there is no additional bonus.
- If the interest earned is paid in NEXO Tokens*, then you can receive an up to 2% bonus on interest on all your holdings.
* Please be aware that Earn in NEXO is currently not available to US citizens and residents due to regulatory restrictions.
Summary: to get 12% on a stablecoin you need to have 10% worth of USD on Nexo so hold $10000 USDC, you need to have $1000 worth of Nexo. It’s better to hold more because if the Nexo price goes down then it is not 10% anymore.
Is Nexo token a good investment?
This is a personal question that I cannot answer. I have added the Nexo Price chart so you could check it yourself if it is a good investment.
Disclaimer: I am not a financial advisor and cannot give investment advice. All the information contained on this website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on this website is strictly at their own risk. Please consult your financial advisor to associate the risks involved.