Nexo coin is a native token of the nexo lending platform created on Ethereum blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Nexo coin was mainly created to enable investors to be entitled to dividend of 30% of the profit made by nexo lending platform.It was also created to distrupt the lending institutions.Beside nexo coin, at nexo lending platform, users are also able to lend their fiat and stable coin to the nexo platform thus in return they can receive up to an interest of 8% per anum being accrued to their nexo account on a daily basis. Users can also collateralize their other crypto assets at nexo platform in order to be entitled to borrow loan based on their collateral.The more you collateralize the more you can borrow. On the other hand, for dividend entitlement, the more your nexo holding the more dividend you will receive while for interest earning accrual, the more fiat or stable coins you have locked the more interest you will receive. Therefore, nexo coin together with nexo lending platform connects borrowers and lenders .
Nexo token transaction
Nexo coin transaction takes place on the Ethereum blockchain explorer based on block height and timestamp. Here is a view of Nexo coin
transaction;
To view how the transaction takes place at Ethereum blockchain explorer, simply follow the link below; https://etherscan.io/token/0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206
Date Launched
Nexo project was launched in 2017 with the main objective of distrupting the money lending sectors . Nexo coin was created to become a native coin for Nexo platform thus allowing investors to earn dividend for simply holding the nexo coin on the nexo platform.Beside earning dividend, nexo users can lend their other cryptos for a given period of time thus in return they will be able to receive an interest of up to 8% per anum
Founder Of Nexo token
Nexo coin was created by Credissimo company with the main objective of distrupting the money lending companies. Credissimo company which has been in existence for over ten years wanted users to be able to receive instant loans. They also wanted the Nexo coin to enable investors holding them on their nexo lending platform to be entitled to receive 30% of the profit made.
Process of creating Nexo token
Unlike cryptocurrencies like bitcoin and Ethereum which are released through the mining process using power supply and internet, for Nexo coin, that is not the case . Instead, nexo coin was created to become a dividend coin. Since it is a dividend earning coin, all of it were issued during its launch. Investors can purchase it in any of the exchanges and transfer it to the nexo platform if they want to be entitled to receiving 30% of the profit made. Investors are supposed to lock their nexo coin at the nexo lending platform . Beside dividend, investors can also collateralize their other crypto if they want to borrow loan from the nexo platform. At the same time, other investors can lend their fiat and stable coin to be entitled to receive interest of up to 8% per anum. Here is how this works;
If you want to start earning dividend or lending your fiat or stable coin to earn passive income, then you can join nexo platform from below
Maximum circulation of nexo token
The maximum amount of Nexo coin that is expected to be circulating in Ethereum blockchain network should be 1,000,000,000 coins. All this amount were created on the Ethereum network but 10% of it was later transfered to binance chain. Out of this amount, 525,000,000 coins were sold to early investors while another 250,000,000 was reserved for nexo company funding.Another 112,500,000 was set aside to the founding team members while another 60,000,000 was airdrop to early community members. The remaining 52,500,000 was set aside for legal advisors team member. Here is how the distribution supply looks like;
Nexo token Price
Currently, 1 Nexo coin is worth more than $0.097 and its price is expected to increase over the next period of time. Nexo coin is being abbreviated as NEXO.
Converting my Nexo token to other cryptocurrencies
To convert your Nexo coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Nexo coin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your Nexo coin to your favorite cryptocurrencies;
Storing my Nexo coin
To store your Nexo coin, you need a nexo coin wallet that is compatible to ERC20 tokens . You can either store online or offline. To store your nexo coin online, you can either use myetherwallet or metamask or can store them on their website platform at nexo.io in order to be entitled to earn some dividend. To secure your Nexo coin from being stolen by hackers, you can use ledger nano wallet.
Transferring my Nexo token to other Users
If you want to transfer your Nexo coin to another user, the two of you must have trust in each other. The trust should be the Nexo coin address provided for by the receiver while the sender must have the Nexo coin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Nexo token
If you feel that you need to learn more about Nexo coin , then you can follow them on their site. Here is the link redirecting you to Nexo coin platform website
Now that you know, I think that it is time for you to start earning some dividend as well as interest of up to 8% per anum from other coins on nexo platform by simply holding nexo coin from the nexo platform. The more you hold the more dividend you earn. If you feel that i should also own some nexo for helping you know more about it then here is my Nexo address that is compatible to ERC20 tokens;
0x346570c491b76c7cd51699bdd272762111b743a9
SUMMARY
Nexo platform is distrupting the lending platform by allowing users to be able to borrow instant loans by collateralizing their other crypto assets. At the same time, users are able to be entitled to receive 30% of the profit made by nexo platform as well as to receive interest of up to 8% per anum when they lend their fiat money as well as stable coins to nexo on a daily basis. This is quite impressive compared to traditional lending platform where it can take a lot of time to be able to get your loan or lenders may end up denying to lend you if you don't have enough collateral.
