Nexo (NEXO) is an ERC-20 compliant token on the Ethereum network that has successfully completed its ICO on April 2018 with $52.50 million raised. It currently holds a market cap of $57.30 million at the time of writing this. It is powered by Credissimo — a European FinTech group established in 2007 that offers online consumer lending solutions.
Nexo positions itself as the world's first instant crypto-backed loans provider. Users are able to receive loans in fiat currency instantly byShow more [+] acing their crypto-assets in their Nexo Overdraft wallet. The market value of the digital assets in the wallet determines their overdraft limit (updated in real-time based on multiple exchanges). This allows the user to avoid exchange and withdrawal fees, as well as capital gain tax associated with short-term liquidation of their digital assets for fiat currency. Any market appreciation of the assets' value will not be lost to them either as these are returned upon repayment of the loan.
The core team behind Nexo includes Credissimo co-founder Kosta Kantchev, and it has Techcrunch founder Michael Arrington and Polymath CEO Trevor Koverko serving as advisors. Nexo is partnered with BitGo for crypto-asset security, and uses Onfido for KYC and AML compliance.
I am new to nexo and the card and I just wondered about the Flex savings term which is shown to me. I never opt in to it and for tax purposes I don't want to earn interest on my tokens. I just want to HOLD and Spend some (fiat) money on the card. How can I opt out to the flex plan?
Dual Investment allows you to optimize your income no matter the market conditions. It’s a unique product that combines buying and selling crypto with receiving interest.
Keen to learn more? Let’s dive in!
Dual Investment is not available in the U.K. or to U.K. residents.
Dual Investment lets you exchange major crypto pairs like BTC/USDT at a future date and if a certain price is met. You earn interest regardless of whether the exchange executes. Depending on your sentiment, you may choose the Buy Low or Sell High strategy.
Some key definitions:
Target Price: the price at which you want to buy or sell your cryptocurrency
Settlement Date: the date at which your cryptocurrency will be bought or sold
Interest: the gain you will earn on your holdings. The interest is received in the Settlement Currency.
Subscribed Currency: the currency you will use to subscribe to Dual Investment
Settlement Currency: the currency you will receive at the Settlement Date
Let's explore an example to illustrate the basic mechanics of the product.
Choose between Buy Low and Sell High based on whether you aim to buy BTC at a lower price with USDT or sell BTC at a higher price for USDT. After that, you need to choose from preselected Target Prices and Settlement Dates that suit your strategy.
Sell High: If BTC's price exceeds your Target Price on the Settlement Date, you automatically sell BTC for USDT at the Target Price, plus interest in USDT.
Buy Low: If BTC falls below the Target Price, you automatically buy BTC, receiving BTC and interest in BTC.
If the Target Price is not met on the Settlement Date, the subscription isn't exercised – you'll receive the currency you’ve subscribed with plus the interest in that same currency.
All investments carry a degree of risk – research is key.
无需信用卡 