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NEXO have been very busy and stepping up their game this year. For those of you who don't know, NEXO is an all-in-one platform where you can Buy, Trade, Earn, Receive passive income on your crypto, and much more.
I will try to keep the article as short as possible to illustrate why I have decided to move most of my funds to NEXO! Before delving into that though I suggest that you look at the image below to get a better understanding of their loyalty levels to understand their benefits and requirements.
TLDR - You only need 10% of your portfolio in NEXO tokens to obtain a platinum loyalty level!
So now let's dive into the top 5 reasons why NEXO is stepping up their game.
- Earn up to 12% interest on your crypto WITHOUT staking.
That's right, no need for staking or locking your funds. Passively earn interest on your crypto simply for holding it! Interest rate depends on your Loyalty levels. You can choose whether to earn interest on your tokens ( for example earn interest of $ADA for you $ADA) OR, you could earn even more if you decide to earn the equivalent in $NEXO tokens instead ( See image above for higher bonus rates for $NEXO)
- Get a FREE Nexo card with 2% Cashback rewards
After years and months of waiting NEXO have finally released their Visa Credit Card to all their eligible users! I have finally received mine and I must admit this has made me more bullish on NEXO. What's so special about the card? Well firstly, you can earn up to 2% cashback on your spending with it ( or your virtual card which you also get for FREE). But, and probably most importantly, you DON"T SPEND YOUR CRYPTO when using it. Instead, you can use the credit line available to you! Read the point down below for more information.
- Use your crypto as collateral to get an interest-free credit line !
In continuation with the previous point, NEXO offers you an INTEREST-FREE credit line which is determined by your crypto holdings used as collateral. For example, if i have a portfolio balance of $1000 worth of crypto I get a credit line of around $350 that I can borrow, or spend with the NEXO Card for free. Of course this works like any other credit card, and you would have to balance out your spendings. BUT, this means that you can use your nexo card to spend that credit line WITHOUT HAVING TO SELL YOUR CRYPTO. ( Yes, i'm stressing this quite hard because I think there is quite a big misconception that having a crypto card automatically implies that you're spending your crypto, this is NOT the case!)
As a side note ( or additional point) to this is that NEXO also has a Portfolio Booster, an option that allows you to instantly double or triple an asset you're holding by using the credit line offered to you. For example, I recently doubled my $GALA holdings instantly thanks to this feature during the recent crash. However, I would only recommend this for EXPERIENCED users.
- Buy Crypto with VISA Instantly
Possibly the biggest reason that helped me make the decision to switch to NEXO. They have recently just introduced buying crypto instantly with VISA cards almost worldwide. Many users have been complaining that deposits take too long to get credited on NEXO however this is now an issue of the past. NEXO have heard the community and worked incredibly hard to bring this option as quickly as possible. You also earn a cashback on each purchase and deposit that you make that could save you a significant amount of money if you're a whale!
In conclusion, there are many other reasons why I think NEXO is stepping up their game. Their focus is always to prioritize security and regulation, as opposed to some other competitors who put marketing first, only then to realise they can't keep up with their promised interest rates.
Oh by the way, if you're considering opening a NEXO account thanks to this article you can also earn $25 in BTC by using this reflink here! Simply complete KYC and deposit $100 and earn $25 in BTC in the next 30 days. Simple!
