Nexo Coin Review – An Expert Opinion
Nexo is a platform that provides instant loans against cryptocurrencies; that too without checking your credit score and the loan amount will be in the fiat money. You can transfer the money to your bank account. The bank transfer might take one or two business days max. Later in this article, we give our expert analysis on the Nexo Coin Review — which is the default cryptocurrency of the Nexo lending platform.
As of now, the minimum loan amount is 1,000 USD. However, that minimum barrier is subject go lower in the future.
Nexo also provides a credit card. And the credit limit varies depending on the market value of crypto assets you have deposited. The best part is there are no annual or monthly fees levied on the credit card.
Nexo lending services are available in more than 200 jurisdictions and in over 40 different fiat currencies. Currently, you can borrow loans by staking Ether (ETH), Bitcoin (BTC), Binance Coin (BNB), and NEXO tokens. And individuals can borrow up to 2 million USD. That’s a mammoth amount considering the other offerings in the cryptocurrency loans market.
Plus, Nexo uses BitGo to safeguard all the crypto assets. BitGo is a renowned crypto custodian trusted by organizations like Pantera Capital, Kraken, and Upbit.
Nexo ICO has received an overwhelming response. The private pre-sale was oversubscribed more than five times. And the public presale was oversubscribed more than 11 times.
Due to the strong institutional support, the public presale and the main token sale events were canceled. And the users who registered to these token sale events have received 100 NEXO tokens each as compensation.
The token sale ended on 1 April, and the total amount raised was 52.5 million USD, which is the pre-set hard cap for the Nexo ICO. And the NEXO price during the sale was 0.10 USD.
You can access the Nexo wallet on the Nexo platform itself: https://platform.nexo.io.
Nexo Coin Review
Before diving into the Nexo coin review, let’s look at the Nexo coin metrics. Note that these numbers might change in the future and subject the decisions made by the Nexo team. However, we will try best to keep the token metrics up to date.
Total token supply: 1,000,000,000 NEXO coin
Current circulating supply: 560,000,010 NEXO coin
NEXO Price, at the time of writing: USD 0.096701
Holding Nexo coins has its benefits: you will get dividends. A 30% of the net profits will be distributed to all the token holder as a dividend.
Apart from that, when you repay the crypto loans with NEXO tokens, you will get a 50% discount on the interest charged on the loan amount.
NEXO token is available on the Bancor Network. So, converting NEXO coin into other cryptocurrencies or converting back into NEXO is an easy process. If you do not know what Bancor is, it is a protocol that provides cryptocurrency liquidity and allows you to swap tokens instantly. Read here to know more.
So, NEXO coin has a substantial background. And it is allowing the crypto-communities to thrive. Many crypto investors will put a lot of money into crypto assets. And getting loans on those assets is excellent flexibility. It is as same as borrowing against traditional stocks.
Overall, NEXO coin is magnificent, and it has a good future ahead. Owning some NEXO tokens would be a nice idea given the facts that you will receive dividends and the discount you get on the interest charged on your loans.
In this world where everything is instant, Nexo ico has set itself as a leader in the instant crypto lending arena. And we recommend you to try the Nexo platform.
Are you planning to get a credit card or a loan from Nexo?
And what do you think about our NEXO coin review?
Share your thoughts by commenting below. We appreciate it.
Disclaimer: Cryptocurrency and related investments are very risky. It would be best if you did your own research and you may want to consult a financial advisor. All the analysis presented here is for informational purposes only. And you should not take it as investment advice.
The opinions presented here solely belong to the author. They do not necessarily represent the views of eCoin4Dummies.com.