3 Crytocurrency banking accounts - but only one won me over.
I'm talking about Nexo.
Before I get into why I love Nexo, let's quickly recap why BlockFi and Celsius are no good. Feel free to disagree with me in the comments below - let's talk about it.
I've spent a year trying out all three, and as you can see from the screenshot have been consulting the good people of Quora to get their views as well. Some agree with me, some do not. Such is life, but when it comes to FREE CRYPTO, I believe Nexo gives you the best bang for your buck.
There's nothing to stop you keeping accounts on all 3.
BlockFi: great for noobs and whales alike to "set it and forget it". That's literally it. They've been threatening to release a credit card for a long time, but this has yet to materialise. Cons are slow withdrawals, limits and fees along with a lack of utility.
Celsius Network: pretty cool that they offer weekly interest payments and live rates that for people logging in everyday could be fun to watch. Their token seems to be alright as well, but not as good as Nexo's in my opinion. Different coins to be added as well that gives Celsius some advantage over BlockFi although interest rates might be lower.
So, let's talk about why Nexo is the tits when it comes to FREE CRYPTO: you get DAILY compounding interest on everything you stuff in there, no matter how small or large.
Using this, you can turn your Cointiply and Coinpayu earnings into a veritable small fortune with the current explosive growth of crypto this bull run. Also, if you're one of those people who don't like utility tokens because you have to buy them, you should know that you can use your crypto to earn NEXO token at a higher rate and again benefit from daily compounding interest. This means that by switching back and forth between interest paid in kind and paid in Nexo's utility token, you can stay in Premium loyalty pretty easily and enjoy these rates, which is why I think it's so good.
If you're thinking that Celsius also have their own utility token and sometimes better rates so why not use that, you might be forgetting about one important thing: The Dividend!
Nexo pays out a dividend to holders of their token, and from what I understand it is a significant amount - for free! Does Celsius do that?
Finally (and this one is a doozy), Nexo is also offering daily compounding interest on your FIAT currency!
I've just chucked in some pounds to test the withdrawal and deposit and it took a few minutes to get money both in and out. My saving account can now enjoy up to 11% in a 3 month fixed term deposit which is pretty astounding. I can have that in pounds, crypto, or Nexo token. I am amazed that not more people have figured out how legit this is.
All my crypto (not very much to be honest, a few thousand dollars worth) is now living inside my Nexo account and growing every day. I top it up with earnings from faucets and if that pushes me down the loyalty tears, I can easily exchange crypto for more NEXO and then exchange profits to GBP and withdraw when I want to sell.
I haven't even touched the loans thing yet as I've not been brave enough to figure it out, but these benefits alone are enough to convince me that in terms of quickly getting free crypto, nothing will beat Nexo.
What do you think? I'd love to hear your thoughts.