I have been using Nexo as a way to get passive income over the past year. It was actually because of Nexo that I grew interested in cryptocurrency in the first place. The idea that I could get 8% interest on stablecoins was a huge value proposition as it was considerably larger than the interest rate I could get from a traditional savings account.

During the first few months of using Nexo, I only put in stablecoins like USDC and Dai. However, over the summer, Nexo introduced their Loyalty Program which got me interested in buying some NEXO tokens. Basically, the higher the proportion of my portfolio came from NEXO, the higher the interest rate I could receive. If 10% of my portfolio's value came from NEXO, then the interest rate on stablecoins would rise to 10%. As a result, I decided to buy a bunch of NEXO when it was priced at approximately $0.20.

Initially, the investment looked pretty bad. While I got the higher interest rate, the value of NEXO dropped considerably not long after I purchased some of the token. Watching the price of the token dropping to nearly half of the value I bought it at was not the most pleasant experience. However, I had faith in the platform and utility NEXO provided, so I held on. And well... look at NEXO's price now.

As of this post, the token is worth $1.06. My investment ended up quintupling in value. Thus far, my experience using Nexo to hold some of my crypto has been very positive. I've had no issues using both its desktop website and mobile app. Currently, my portfolio has diversified and contains Bitcoin, Ethereum, and Litecoin.