Nexo News

Hey guys,

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?

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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.

1. 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.
2. 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.

https://preview.redd.it/x84syvo2yo5c1.jpg?width=1200&format=pjpg&auto=webp&s=90c1deeb4f45a8b5cfde48d3c1409410904d32d2

JTO futures are live on the Nexo app.

Trade Jito’s native token with up to 15x leverage.

Not available in the U.K. or to U.K. nationals. All investments carry a degree of risk.

https://preview.redd.it/l82k9uo2do5c1.jpg?width=1200&format=pjpg&auto=webp&s=734a2230d08fea68d8572c2c2a3dadac0fcfe0d7

Although I'm not interested to spend my crypto ;) many were interest for this feature

Does anyone is using Nexo pro futures and have a hard times using Koinly or other tax software with it ?

Koinly did not support my Nexo pro futures export file for import and when i contacted them , they tried to help me mapping the file and after looking at my file, they told me that the future export file of NEXO Pro is not build as a future file but like a spot file. There is no PNL rendered in a column it's only position filled.

Still waiting for additionnal answer from them but as Nexo just released a new automatic system for Nexo i wanted to know the state of things for Nexo PRO CSV and how do you manage that ?

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Recently tried topping up my GBP with a bank transfer, both Monzo and HSBC say the provided account number (Nexo's) doesn't exist. I've transferred this way many times before to the same account, anyone experiencing the same?

So, I messed up. I initially created my account because I was about to move to another country without capital gains tax / regulatory framework for crypto. Life happened and the move never took place.

Now it's some years later and I'm beginning to sweat a bit fearing the authorities of my high tax EU country will stumble upon information of my Nexo account. I'm a small fish, so I doubt they'll bother. However, I've been getting rid of my coins and plan to shut down my account entirely and hope no one looks my way until my case is outdated.

However, I think it's a great platform and I could see myself investing in it with fiat in the future, legally. Is there a chance Nexo would wipe my account entirely if I delete it and recreate it again?

The reason why I will not even bother with reporting my activities is that my country does not even have a proper framework for something like Nexo. Tax experts could make it look legit, but the price of that (at the moment) far outweights any gains.

Tl;dr: Does anyome have experience with Nexo wiping an account/person of records to start "fresh" ?

Hi, what's happened to the blog page, I click on and it just re-directs me to the login page?

Hello, i use koinly now for over 2 years and was pretty happy when the new sync function was released and instantly tried using it. So far everything looks fine, but the wallet shows me a negative USD balance, i tried recreating why this happend and i guess, it is caused by the fact that transactions are saved in USD while i used my Card in Debit Mode using EUR. Is there any way to fix that?

EDIT:For example here, i bought stuff on google playstore, it shows me the transaction that i paid in EUR (my EUR balance is correct) but it also shows a USD transaction for it which makes my balances in USD negative. As long as i dont have USD in my wallet its fine for me, but if one day i would like to have USD in my wallet (for what reason ever) i would have a problem.

IG this problem should be there for any FIAT except USD for sure.

https://preview.redd.it/d6wawgr5kf5c1.png?width=1121&format=png&auto=webp&s=e1c49737e7d5830a8f467eaa438bf694816e4d64

Every time i make a purchase with my Nexo card I noticed that the first asset (between BTC and USDT) that gets sent to the credit line wallet is USDT . i guess that has to due with LTV . is it possible or will it possible to choose ourselves which asset gets sent to the credit line wallet for these purchases? I have the old Nexo Card at the moment and prefer to keep it that way for the time being