Nexo

Overview of Nexo

  • Nexo standards were developed by the industry to meet the needs of the international card payment market, particularly in Europe. The standards enable retailers operating in several countries to deploy uniform and interoperable acceptance solutions in all countries concerned, and streamline banking relations and checkout solutions. Thanks to more agile acceptance solutions, merchants can benefit from cost reduction for projects deployment and operating expenses.
  • Nexo’s suspension of XRP payments and liquidation of these customers’ collateral therefore were unlawful, and these customers are entitled to recover the value of their XRP when Nexo suspended its use and the value of their liquidated collateral as of breach (less the outstanding loan amounts on that collateral).
  • Nexo was founded by a team of finance professionals and crypto enthusiasts, who turned to blockchain to create the crypto equivalent to a service well established in traditional finance, but hitherto non-existent in digital finance— borrowing against the value of your assets while retaining ownership.
  • nEXO will have three key components: a cryogenically-cooled liquid xenon source of double beta decays; specialized photon and charge detectors; and shielding to isolate the experiment from background particle noise both from the environment and the experimental apparatus itself.
  • nEXO is the multi-ton successor to EXO-200, which will search for neutrinoless double beta decay (0vbb) with substantially improved sensitivity (see the EXO-200 page for more details about why we’re searching for double beta decay).
  • The Nexo is currently the only hydrogen-powered SUV on the market, but it’s sure to be cross-shopped against the only other hydrogen cars you can buy right now—the Toyota Mirai and Honda Clarity Fuel Cell.
  • The Nexo is fitted with an advanced air purification system that removes 99.9% of the damaging PM2.5 fine particulate matter from polluted air using a three-step filtration process.[16]
  • Nexo is a cryptocurrency interest account and lending platform that offers between 6% and 12% APY for a variety of digital assets, including BTC, ETH, LTC, BCH, EOS, XLM, TRX, and XRP.
  • Nexo’s assets are stored in cold wallets secured with multi-signatures, and the private keys are stored offline (via BitGo) locked in Class III bank vaults for physical protection.
  • Nexon was founded in Search engine optimizationul, South Korea, in 1994 and later moved its headquarters to Tokyo, Japan, in 2005, where it went public on the Tokyo Stock Exchange in December 2011.

    • Blockchain

    Trenchev, who has acted as the public face of Nexo’s leadership, has a track record in advocating for wider blockchain and crypto adoption, notably serving as member of parliament in Bulgaria’s National Assembly from 2015 to 2017, where he promoted the implementation of blockchain solutions for e-government services, as well as frequently commenting on crypto and digital finance-related current events to mainstream media, including Bloomberg, The Independent, and CNBC.

    Mine

    Nexo is marketed to individual and institutional investors, cryptocurrency companies, exchanges, miners and others who want liquidity from their assets.The company makes a profit from the interest accumulated on loans, and it also offers institutional lending and consulting services.

    Network

    Upon its launch, Nexo reported that its token had been "fully audited." In November 2019, the smart contracts were independently audited by Castillo Network, which found no critical security issues.

    Support

    “Nexo is powered by Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years.Credissimo has always operated under the highest regulatory requirements and strictest supervision by multiple European Banking and Financial Services Regulators.Now, the same Team and its Board of Advisors, empowered by the ever-growing community of Nexo supporters and enormous demand for the Instant Crypto-backed Loans, are unlocking the value of digital assets in a rapidly expanding token economy that will alter the very fabric of a $5 trillion dollar market.”

    Transactions

    Its native token, NEXO, is an ERC-20 token issued on the Ethereum blockchain, meaning that any on-chain NEXO transactions are validated and secured by the Ethereum mainnet using its Ethash proof-of-work consensus algorithm.Miners compete among each other to add new blocks to the blockchain, and a majority of all nodes in the network must validate a record for it to be posted.

    Are there any fees?

    No, there are no prepayment, origination or installment fees.

    Final Thoughts: Is Nexo Legit and Worth Your Time?

    Nexo has a strong presence in the cryptocurrency interest account space.With competitive interest rates for stablecoins, BTC, ETH, other cryptocurrencies, and even fiat, it’s an option worth exploring for those looking to get paid interest on their cryptocurrency.The company has also seen tremendous growth in its userbase, and its token has more than 7xed in price, likely minting a few very wealthy and happy early adoptors.

    Have you read our FAQs?

    If you have a question about All-New NEXO, try our FAQs first.If you’d like to speak to someone you can call our dedicated team.

    How Does Nexo Keep Its Funds Safe?

    Nexo acts as the custodian for all deposits, meaning that the company stores your digital assets.It does so via a partnership with cryptocurrency custodial solution BitGo.

    How Does Nexo Make Money?

    Nexo makes money on the differential between crypto loans and deposits.This is pretty typical for cryptocurrency interest account and lending platforms.

    How Does Nexo Work?

    The loans taken with Nexo are received on the same or the next day via bank transfers involving SWIFT, SEPA or ACH.The receiving account can be a personal or a business one.The instant crypto loans work in pair with an option to use free Nexo card.With it, the loan limit is calculated based on the value of the crypto assets held in a customer’s Nexo account, with the additional credit becoming available on it immediately after the appreciation of the assets.

    How does syncing work?

    How transactions and balances get synchronized from cryptocurrency exchanges.

    How Is the Nexo Network Secured?

    Nexo is a privately owned company and, as such, is responsible for the security of its networks and user funds.Nexo stores its digital assets with BitGo, a crypto-asset custodian that keeps tokens in cold storage wallets and is covered by a $100 million insurance policy.In November 2019, Nexo reported that it was ISO/IEC 27001:2013 certified after being audited by RINA and the Consortium for IT Software Quality.

    How Many Nexo (NEXO) Coins Are There in Circulation?

    Nexo has a fixed supply of 1 billion tokens.

    How Much Does the 2021 Hyundai NEXO Cost?

    Starting with Blue trim, the 2021 Hyundai Nexo fuel cell vehicle has a Manufacturer’s Suggested Retail Price (MSRP) of $58,785.A destination charge of $1,175 brings that to $59,960.The other trim, Limited, comes in at $63,410.Out of context, these prices seem high, but there are incentives to offset some initial cost, such as the $4,500 California Clean Vehicle Rebate.Federal tax credits might be as much as $8,000.And Hyundai provides $13,000-worth (or three years) of hydrogen.Leasing a Nexo Blue could cost around $400 a month for 36 months or roughly $450 for the Limited trim (with $2,500 due at signing).There isn’t much cost difference with the Honda Clarity FCV (which is lease-only), although Honda provides $15,000-worth of hydrogen.The Toyota Mirai enters a new generation for 2021, so we’ll have to see what the deal is there.But it should be competitive.Because the Hyundai Nexo is still fairly new and incredibly niche, our analysts haven’t estimated its resale value yet.

    How to borrow cash or stablecoins?

    You can transfer your assets to your Nexo account and get an Instant Crypto Credit Line™.

    Is Nexo a Legit Project?

    To its credit, the Nexo project enjoys some strong backing in the form of Credissimo, a fintech Group with millions of customers and a decade of experience behind it.Its core activities revolve around the provision of instant online consumer loans, e-commerce financing and payment services.The Credissimo team sought to deliver similar functionality to the world of digital assets, powered by modern crypto technology, thus giving birth to the Nexo project.Considering that crypto-related projects often find themselves under the scrutiny of regulatory bodies and cautions public, the situation with Nexo should be at least somewhat more relaxed, considering that Credissimo operates under the supervision of several European banking and financial services authorities.

    Is Nexo DeFi?

    By definition, Nexo is not a DeFi project– it is a centralized platform that retains custody of your digital assets while you use it.In theory, Nexo can hold deposits and limit withdrawals.

    Is Nexo Legit?

    Nexo’s longevity in the space has earned it some credit towards being a legitimate cryptocurrency interest account pioneer.

    Is Nexo Safe?

    Nexo faces a multitude of risks unique to cryptocurrency-based projects.

    Is the NEXO Token a Good Buy?

    NEXO’s total supply is pegged to 1 billion tokens, currently, 560 million are in circulation.The token price bounced around $0.09 and $0.50 for the first three years of its existence but exploded to $3.60+ in 2021.

    Nexo Review: Is Nexo Legit, Safe, and Worth Your Time?

    Nexo is a cryptocurrency interest account and lending platform that offers between 6% and 12% APY for a variety of digital assets, including BTC, ETH, LTC, BCH, EOS, XLM, TRX, and XRP.It’s a unique cryptocurrency interest account offering because it offers daily payouts, as well as upwards of 12% for popular fiat currencies like USD, EUR, and GBP.

    So, can you trust Nexo?

    This Nexo review lists the above points for those who tend to distrust as a default– skepticism leads to deep research.Nexo’s unknown profitability carries implications for depositors and NEXO token holders, but the platform has yet to have a significant issue.

    What Does the NEXO Token Do?

    NEXO was created during the ICO, and distributed to the team and early adopters.The firm shares up to 30% of its profits with NEXO holders.

    What happens if the value of my collateral changes before I repay my credit line?

    If your collateral appreciates in value, your credit line limit also goes up.You’re free to withdraw more credit or leave your current loan as is.

    What is loan-to-value (LTV)?

    The loan-to-value (LTV) ratio is the ratio of the loan relative to the value of the collateral asset).

    What Is Nexo (NEXO)?

    Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans.Users deposit an accepted token — such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) or XRP (XRP) — as collateral to receive a loan in the form of a fiat currency or stablecoin.

    What Is Nexo Trying to Achieve?

    The Nexo project was birthed out of the ambition to resolve several issues which its developers identified as the most pressing in the financial technology industry.

    What is nexo?

    nexo was established in October 2014 to develop, promote and maintain open and universal next-generation card payment standards and specifications.The organization inherited the developments of 3 predecessor organizations, SEPA-FAST, EPAS org and OSCar.

    What Is Nexo?

    Nexo is a blockchain-based, cryptocurrency-backed loan system created by European FinTech company Credissimo.Users deposit supported cryptocurrency coins and tokens into a Nexo wallet and receive an instant cash loan in either USD or EUR.Loan details are established by the Nexo Oracle and stored in an Ethereum smart contract.The NEXO token is an ERC-20 interest-bearing security token  which the company markets as “SEC-Compliant.

    What Is Nexo?

    Nexo platform and its native NEXO token make up the core of the Nexo blockchain-based system whose core activity is to provide instant cryptocurrency-backed loans.Launched in April 2018, the platform seeks to promote the model in which the acquisition of crypto loans is made easier than ever before, with the loans being available in the fiat money with no reliance on credit score checkups.Users are simply required to deposit supported crypto tokens into their Nexo wallet, followed by immediately receiving their cash-based loan.

    What Makes Nexo Unique?

    According to its whitepaper, Nexo is the first-ever provider of instant cryptocurrency-backed loans and it intends to solve inefficiencies in the lending market.Its automated lending process uses smart contracts and an oracle on the Ethereum blockchain to manage loans.After a user transfers cryptocurrency to a Nexo-controlled wallet, the oracle establishes the loan and the user is instantly allocated the funds.When the user makes a deposit in order to repay the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain.Smart contracts are used to power NEXO and to record user balances.

    Where Can You Buy Nexo (NEXO)?

    NEXO can be purchased on cryptocurrency exchanges such as Huobi Global, UPEX, Hoo and Bitrue, among others.It can be traded against fiat currencies such as the South Korean won and the Indian rupee, cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), and the stablecoin Tether (USDT).

    Who Are the Founders of Nexo?

    Nexo was founded by a team of finance professionals and crypto enthusiasts, who turned to blockchain to create the crypto equivalent to a service well established in traditional finance, but hitherto non-existent in digital finance— borrowing against the value of your assets while retaining ownership.In 2018, the team launched the Nexo platform, offering the world’s first crypto credit lines that allowed digital asset holders to obtain fiat and stablecoin loans against their cryptocurrency, and thus setting the foundations of the crypto lending niche.

    Will This Crypto Loan Shark Tank?

    Now that we’ve explained the basics, let’s get down to the nitty gritty of the short-term loan industry and predatory lending in general.Payday loans are a great place to start, as one in five payday loan borrowers defaults, while 80 percent of these loans are rolled over beyond the “short term” advertised.

    History of Nexo