How and Where to Buy Nexo (NEXO)
Antoni Trenchev is the Co-Founder & Managing Partner of Nexo. The Nexo team launched the project in April 2018 with a mission to resolve inefficiencies in the traditional lending market by using blockchain technology and designing secure, seamless products with instant availability. The collective team behind Nexo have significant experience in the financial fields, including crypto-lending, mergers and acquisitions, investment banking, and hedge funds.
“Nexo’s values are rooted in efficiency, transparency, and inclusivity. This is reflected in our fully-automated products, transparent processes, and our extensive efforts to develop a truly global service that makes wealth creation opportunities available to everyone.” – Nexo website
What Is Nexo (NEXO)?
Nexo is a blockchain-based platform offering crypto-backed loans. Nexo accepts over 30 cryptocurrencies, including top-listed coins like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The lending process requires users to deposit cryptocurrencies to be used as collateral for a Nexo loan. Loans are for fiat currency or stablecoin.
The native token of Nexo is $NEXO. Holders of $NEXO tokens can receive discounts on accumulated loan interest and interest payments, but your $NEXO tokens are locked in on the platform.
“Nexo is the world’s largest and most trusted lending institution in the digital finance industry” – Nexo website
What Makes Nexo (NEXO) Unique?
Nexo appeals to a vast audience, including retail and institutional investors. For the latter, Nexo offers an institutional consulting service. Cryptocurrency exchanges and crypto companies can use Nexo services, as can anyone that requires liquidity from their assets.
- The Nexo card – is accepted globally by 40M+ merchants with payments in local currencies. You can get up to 2% in instant cashback on purchases. Free additional virtual cards are available, and there are no annual, monthly or inactivity fees. You can manage your Nexo card via the mobile app, available for both iOS and Android devices
- Buy & Earn – you can earn up to 0.5% back when you buy crypto from Nexo. The interface is user-friendly, purchases are instant, and you can earn interest daily on your digital assets
- Borrow at 0% APR – using your crypto as collateral, you can borrow cash or stablecoins with an instantly available credit line. There are no credit checks, no monthly repayments, and you can borrow from as little as $50 and up to a whopping $2 million
- Swap & Earn – Nexo has 200+ market pairs available for exchange, and, depending on your loyalty tier, you can earn up to 0.5% cashback with daily accrued interest. Nexo website suggests that you can “3x your holdings without extra capital.”
- Loyalty program – if you hold $NEXO tokens, you can access higher earning rates and unlock the lowest rates for borrowing. Nexo distributes 30% of its profits in the form of dividends to $NEXO token holders
Nexo provides the maximum security levels for your digital assets. The company works with some leading authorities in custody and compliance, including Bakkt, BitGo, Ledger, and Amazon Web Services.
Taken directly from the Nexo website, here are more security assurances: –
- Only lending on an over-collateralized basis
- Biometric-based identify verification
- ISO/IEC 27001 certified
- Segregated multi-signature wallets
- Extensive firewall server architecture
- Community driven vulnerability disclosure
“Since 2018, Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system. Nexo currently manages assets for 3.5М+ users across 200 jurisdictions.” – Nexo website
How and Where to Buy Nexo (NEXO)
Huobi Global is one of the easiest platforms for buying $NEXO coins. The exchange lists over 450 cryptos and over 1,000 trading pairs. There are 57 local currencies and 60 payment methods available: –
- Open an account with Huobi Global -There are three different account levels with various verification requirements. Opt-in for the higher verification so you can access Huobi’s full services
- Log in to your account – go to “Balance” and “Exchange account”
- Select “Deposit-Exchange” – search for GBP, click “Deposit”. Presently, it’s only possible to deposit GBP but, according to the Huobi Global website, this limitation is temporary
- Choose [Faster Payments] – input the amount, and click “Next”.
- Click on “Increase Limit” – to complete advanced verification for higher deposit limits.
- Log in to your online banking – enter the information below to initiate a transfer to Huobi Global.
The funds will arrive in your Huobi account immediately via Faster Payments
- Check details are correct – if you make an error, contact the Huobi 24/7 global support team
- Go to the exchange – You can’t buy $NEXO tokens directly. Look for NEXO/ETH, NEXO/BTC or NEXO/USDT and click on “Buy”
- Store your $NEXO securely – the exchange has a Huobi wallet, a secure and professional DeFi wallet, or you can send your $NEXO tokens to an off-ramp wallet that supports $NEXO tokens
Buying Crypto Directly with Huobi Global
- Go to “Quick buy/sell” – a buy screen opens to the right of the page
- Select card payment and enter the currency you wish to use by clicking on the dropdown menu
- Click on “Buy $USDT”
- Go to the exchange – look for NEXO/ETH, NEXO/BTC or NEXO/USDT and buy using your purchased $USDT (USDT pairs to the dollar so will be the same price as the U.S dollar)
How do I Sell Nexo (NEXO)?
The process for selling your $NEXO tokens is the reverse process of your purchase:
- Log in to your Huobi Global account
- Sell your NEXO/USDT, NEXO/ETH or NEXO/BTC for $USDT
- Transfer your $USDT to a reputable off-ramp platform such as Coinbase or Gemini
- Check transfer fees costs before completing the transaction
- Once the $USDT is in your Coinbase or Gemini account, it’s easy to convert them to your chosen fiat currency and withdraw to your bank account, allowing you to enjoy the profits you’ve (hopefully) made on your $NEXO investment
Should I Buy Nexo (NEXO)?
After purchase, we advise storing your $NEXO tokens securely in a cryptocurrency wallet. Huobi Global has a choice of secure wallets where you can store your $NEXO tokens. FTX also lists Nexo (NEXO), and both platforms have an exchange wallet.
How do I Invest in Nexo (NEXO)?
Suppose you wish to invest in Nexo (NEXO). It’s essential to purchase from a trusted, secure crypto exchange like Huobi Global. It’s a long-established exchange, launched in 2013.
You can also invest in Nexo (NEXO) from FTX, using the NEXO/USD pair.