is a cryptocurrency interest account and lending platform boasting $12 billion Assets Under Management for over one million users, making it one of the largest crypto interest account platforms on market offering between 6% and 12% annual percentage yield for a variety of digital assets, including bitcoin, ethereum, litecoin, avax, trx and ripple among many others.
For a limited time until 31st December, Nexo is offering an upsized $25 signup bonus for new users.
Read on to learn more about Nexo!
Exchange
Introducing Nexo Swap, where you can enjoy instant transactions, fixed-price execution and unlimited number of swaps with the smartest exchange out there.
Choose from over 150 market pairs. Simply open the nexo platform, select your currency pair, specify the amount you would like to change and click exchange; it’s really that simple!
Earn interests
One of the best perks of Nexo is that you can make your cryptocurrencies work for you! Generate passive income with nexo, by earning interest on crypto and stablecoins. Crypto pays up to 8% while stablecoins pay up to 12%. You can either choose to earn in kind, or earn in Nexo on a wide variety of coins, which gives an additional 2% annual percentage yield! Interest is compounded daily which means you get an interest payout every day. Money can be added and withdrawn at any time. There isn’t any lockup period on deposits.
Nexo Token
NEXO was created during the initial coin offering, and distributed to the team and early adopters. The firm shares up to 30% of its profits with NEXO holders. The NEXO token underpins the loan and deposit ecosystem; holding the token entitles buyers to a 30% share of company profits, like a dividend. Nexo claims it has paid over $9 million to tokenholders since 2018.
Holding NEXO Tokens automatically enrolls you into Nexo’s Loyalty Program which gives you up to 50% higher yields.
The NEXO tokens held in the account will earn a nice 7% annual percentage yield, and up to 12% annual percentage rate for a 12 month fixed term.
Your loyalty tier depends on the weightage of the Nexo tokens in your portfolio. The higher your tier, the more privilege you can enjoy, such as higher interest rates and greater number of free crypto withdrawals per month.
And last but not least, holding NEXO Tokens gives you the opportunity to participate in any future Governance Votes thus designing the future of Nexo.
Is Nexo safe?
Nexo acts as the custodian for all deposits, meaning that the company stores your digital assets. It does so via a partnership with cryptocurrency custodial solution BitGo. Nexo is insured by BITGO and LEDGER Vault for 375 million dollars in digital assets
Nexo is audited regularly to provide attestations of the company’s custodial’s holdings.
Nexo’s assets are stored in cold wallets secured with multi-signatures, and the private keys are stored offline locked in Class III bank vaults for physical protection; while allowing for liquidity from third-party providers.
Nexo’s security infrastructure is ISO certified. So, your funds are probably safe on Nexo; However, cryptocurrency interest accounts offer a unique set of risks that shouldn’t be ignored. Do your research and speak with your licensed financial advisor.
Nexo is currently holding an exciting signup bonus promotion, where new users can avail an upsized $25 bonus on a first-time deposit of $100 and more! Hurry as this promotion is only valid til 5th January 2022, after which the signup bonus returns to $10! Click to sign up today!
On another note, learn how to earn up to 400% APY on your cryptocurrencies in the video below! Will be covering defichain in my following posts, so stay tuned!
