Learn more about Nexo.
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This review of Nexo consists of three chapters: origin, technology and pros & cons.
Origin & Background
Nexo is a blockchain-based overdraft system that enables users to make immediate crypto loans. Most other usages in the cryptocurrency world focus on buying and selling (or using as payment). Here, Nexo comes into view with a reasonable business model. It allows crypto owners use their holdings as security, and then withdraw cash. The users uphold access to their cryptocurrency while they also have instant access to cash. This means that they can access the fiat value of their crypto assets.
Nexo brings together immediate loans with block chain technology, resulting in the world’s first instantaneous crypto loan system. The organization Credissimo powers the “World’s First Instant Crypto Overdrafts” as they call it. Multiple European Banking and Financial Services Regulators firmly supervise Credissimo. Nexo, the world’s first US SEC-compliant asset-backed token, is backed by the underlying assets of Nexo’s loan portfolio. Nexo Tokens offer added efficiency features such as discounted interest rates on the Nexo Instant Crypto-backed Loans. Also, the Nexo Platform accepts these Nexo Instant Crypto-backed Loans as security on the Nexo Platform. Nexo has a completely operational immediate lending platform with flawless user experience and military-grade security with 256-bit encryption.
- Award-winning team, constantly audited by Deloitte.
- The Nexo Advisory Board includes famous industry professionals such as the founders of Tech Crunch and Polymath.
- Nexo Tokens are a secure haven as they provide reflexive income in the form of 30% from the company’s profits.
- Also, with the help of Nexo Token speed of funding can be increased.
- Additionally, you will not be charged any exchange fee while using Nexo Token.
- Furthermore, you will be capable of attaining a free credit card along with Nexo Token.
- Finally, with Nexo Token, there will be no tax liability.
- Approval time can be extra some times that may decrease the efficiency.