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Investing in Nexo

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Advantages of NEXO

Solving lending problems is certainly a great thing for the entire DeFi sector, but let’s now look at some of the most direct benefits you can get by participating in Nexo and its NEXO token.

Interest discounts

The first thing to note is that by simply owning NEXO, you are entitled to certain benefits, including discounts on interest. Of course, this only applies to borrowers, but it still matters a lot since interest is what should accompany loans, centralized or decentralized. In other words, your rate of return will be slightly lower if you already have NEXO, and this cannot be ignored.

Earn interest

On the other hand, if you are a lender, you can earn interest from lending out your coins and tokens. According to the project’s website, you can earn up to 17% per annum on your cryptocurrency, as well as EURx, GBPx and USDx with unique daily payouts. Not only that, but your funds are backed by a $375 million fund and you can add or withdraw money at any time.

Receive dividends

Nexo also offers dividends to its token holders, rewards for anyone who chooses to purchase their own cryptocurrency and store it in their wallets. These are funds that come directly from Nexo’s own profits and Nexo’s way of showing appreciation to those who support its project.

Nexo Card

Finally, Nexo also offers its own crypto card called Nexo Card. The company says it’s the only card that lets you “spend the value of your digital assets without having to sell them.” It also provides instant cashback on all purchases and offers flexible redemption options. The card is accepted by more than 40 million merchants worldwide, and the cashback you receive on payments is 2%. The payments merchants receive are made in their local currency, with no monthly, annual or currency exchange fees.

How does NEXO work?

Nexo is the world’s first provider of instant loans backed by digital coins. It aims to solve the problem of inefficiency that plagues the lending market, and it does this by completely automating the lending process, using only smart contracts and an oracle on the Ethereum network to manage loans.

Essentially, once you transfer your coins to a wallet controlled by Nexo, the oracle will issue a loan and the borrower will receive the funds instantly. When they make a deposit to repay the loan, the oracle returns that money and records the transaction on the blockchain. The process is fast, efficient and cheap, and the project itself offers many benefits that make it more than worth using.

More detailed information NEXO

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