Nexo vs ETHLend – Lets Compare the two.
When comparing Nexo vs ETHLend (LEND Token), you hav to look at the value of collateral required as well as fees.
Nexo doesn’t consider itself as a competitor to ETHLend.
Here are the reasons:
- ETHLend is building a decentralized app (dApp) which only works with ERC-20 tokens.
- ETHLend does not deal in Fiat (USDollar, etc) nor BTC. With ETHLend a customer can send Ether and get a loan in EOS tokens, for example. The customer can’t get a cash loan
- ETHLend pegs the loan amount in USD rather than in cryptocurrency (i.e. $20,000 worth of ETH to be repaid at maturity vs 20 ETH to be repaid at maturity) even though the transaction doesn’t involved USD.
- Nexo gives the customer the best of both the cryptocurrency and the fiat worlds. The customer keeps her cryptocurrency (digital assets) while being able to use her cash loan for personal or business affairs, fund leverage, etc.
- Nexo’s customer still maintains the future price appreciation potential of her cryptocurrencies while receiving ‘instant’ cash.
- ETHLend is a Peer-to-Peer (P2P) platform. This means that the cost of every loan will vary. There will be different interest rate, collateral %, etc. In addition, it may take days cor a customer to get her loan funded. Meanwhile her cryptocurrency is locked in the smart contract.
- ETHLend charges platform fees in addition to all other fees.
- Nexo’s Crypto-backed Loans have fixed interest rates and the same Loan-to-Value for everyone and availability is instant and automatic.
- ETHLend takes a commission percentage on the interest of each loan.
- Nexo’s income is simply the interest rate on the loan. It’s more centralized today, but considerably more profitable. This is a good thing if you have a dividend-paying security token.
Let us get into the meat of this Nexo Review.
See our 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.
Read their white paper for more details.
Another advantage of Nexo is the Nexo Credit Card.
When your stored 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
What do you think aobut Nexo vs ETHLend?
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