Finance Industry Disrupter: Nexo Review
Let us get this Nexo Review started. Nexo is a blockchain-powered lending platform where customers can hold on to their cryptocurrency while receiving an instant cash loan.
The benefit to you is that your cryptocurrency is used as collateral to back the fiat cash loan. This means that you continue to hold on to your cryptocurrency while at the same time receive the current cash value of the digital assets as a loan. This eliminates the pain of you selling your cryptocurrency portfolio for cash. There are no hidden fees, no capital gains taxes from selling cryptos and no credit checks!
Using digital assets or cryptocurrencies as collateral via the blockchain is a much needed service particularly in the bear market we have been experiencing the past few months. Selling low isn’t a prudent strategy no matter how you look at it.
As you know, the use of blockchain technology facilitates disintermediating (cutting out the middleman) and total transparency.
Let us get into the meat of this Nexo Review.
Nexo is powered by a Leading FinTech Group which has been providing instant loans to millions of people across Europe for over 10 years — Credissimo.
Jumping into the Crypto-Backed loan industry is a natural progression to expand their offerings.
Not only is Credissimo a publicly listed European FinTech company, but it is also a heavily regulated and audited company. That combined with an extremely experienced and knowledgeable management team and advisory board says win-win.
In 2017, Credissimo received the Top 10 Alternative Finance in European FinTech Awards 2017 and received two Forbes Business Awards 2017 for “Financial Sector Innovations” and “Quality of Services”
The financial industry is ripe for disruption and Nexo is doing just that.
Read their white paper for more details.
Let us walk through the Nexo Crypto-Backed Loan Process.
- You transfer your cryptocurrency (digital assets) to your Nexo wallet.
- The loan limits and payments are set-up instantly. The loan limit is simply the market value of your deposited digital assets.
- You will receive the cash loan instantly to your bank account or to your free Nexo debit card.
- You repay the loan according to the contract through bank transfer, cryptocurrency, or fiat currency. You will receive a discounted interest rate if you choose to make payments with the NEXO token
- When you have repaid the loan, you can then withdraw your digital assets from the Nexo Wallet!
You still maintain the future price appreciation potential of your cryptocurrencies!
The whole process is performed through contracts on the blockchain with full transparency.
Let us not forget about the Nexo Credit Card. When your deposited cryptocurrencies increase in value, you instantly receive additional credit on the card.
Features of the Nexo Credit Card
- Free-of-cost with flexible loan limits.
- No monthly or annual fees.
- Multiple repayment options.
- No hidden fees.
- Secured by digital assets such as cryptocurrencies, utility tokens, NEXO tokens, etc.
- 24/7 live assistance and fraud monitoring
The bottom line is that Nexo has the making of a deal with high future potential for the customer, ICO participants and the company.
I hope this Nexo Review provided enough information to whet your appetite for more information.
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