In one of my previous articles I looked into Nexo, a platform that serves as an online bank. You can earn interest on different crypto currencies, stablecoins, even fiat that you deposit into the platform. You can also borrow against the collateral you have deposited, in that aspect is like getting cash for your crypto without selling it.
But now Nexo offers an additional benefit to its users with Nexo Exchange. This new function allows you to swap your holdings between over 75 crypto and fiat pairs.
A particular benefit of this new service is the ease with which you can purchase the NEXO token (currently valued at 1.27 USD according to cryptowatch). This token allows you to tap into the best interest rates for deposits and loans in the platform, as well as earning you dividends on your investment.
In order to get the best prices the platform acts as an aggregator which retrieves quotes from various exchanges in order to find the most favorable trade for the user. And unlike other platforms, the price is fixed once you place your order, saving you from any nasty surprises when your trade is executed.
It must be noted that even though all the site mentioned in this article has been proven to be reliable, there is always risk associated with dealing in cryptocurrencies. This is an unregulated market, so care must be exercised to contrast the information provided in this article before you commit any funds. This article is not intended as financial advice.
