Nexo is the fintech company from Switzerland ,launched in 2017 . It is a platform where any digital crypto holders can take loan or withdraw fund by depositing the coins into wallet of Nexo . Users can withdraw the fund from the base of current crypto token value in the market .
example:
if A deposited 5 bitcoin into the Nexo platform and wanted to take loan then the bitcoin will be reserved and let the A withdraw the money through bank account or let A allow to spend the money with the current bitcoin value limitation .
Nexo is well known company which provide APR 5.9 % per year cost for loan provision and gives you freedom to pay the interest whenever you want but conditionally debited the cost of loan from your reserved crypto current price valuation.
Nexo is somewhere similar to crypto.com but Nexo partner with Mastercard for credit card issuance .It has many cryptocurrencies and stable coin staking and earning facility with average interest rate in between 8-10 %. annually .
For the security and trustworthiness , it does $100 million Insurance policy for custodial digital assets and hold the government issued licence to act as bank in the cryptocurrency market.
The performance level of its own token is much appreciating and holding strong position than crypto.com with $0.12 in price valuation .
Ethereum price hike and many good news related upgradation to ETH2.0 will push the price of all the lending smart contract token prices and even exchanges like Loopering (LRC) has shown great increased in price value since last week . As we know ,the price value of Nexo was $2.20 in 2018 May. and there is no surprise if investor will buy the coin in bulk and hold it at Nexo and get the loan money and invest back to USA stock market which is quietly plunging in hitting new high every day after protest and corona crisis .this time is like dual investing opportunity with great return .just need to play with your mind .
Resources:
https://twitter.com/NexoFinance
