• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Blockchain
  • Bitcoin
    featured image

    A Beginner’s Guide to Bitcoin futures trading

    crypto traders 2021

    Top 5 Crypto traders to follow on Twitter in 2021

    featured image

    Everything you need to know about Bitcoin IRA

    featured image

    How Bitcoin can be hacked?

    featured

    A starter guide to Bitcoin Options trading

    Featured Image

    With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

    featured image

    Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

    featured image

    Why is Bitcoin a safe haven in a financial crisis

    featured image

    How to Make Money in Crypto When It Falls

    Trending Tags

    • Altcoin
    • Crypto Lists
    • News
      bitcoin laser eyes

      Bitcoin Laser Eyes, What is it all about?

      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      featured image

      Breaking : Crypto Trading is now legal in South Korea

      RBI to allow crypto trading

      Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

      featured image

      Steemit Joining TRON Ecosystem

      Reliance Jiocoin

      Reliance Jio is preparing for Jio Coin launch in 2020

      A $134 Million real estate has sold on ethereum blockchain

      A $134 Million real estate has sold on ethereum blockchain

      Hacking attacks on cryptocurrency exchanges

      Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

      Bithumb Launches in India

      Bithumb Global Launches in India

    • Crypto Market
    • Guide
    • DEFI
    No Result
    View All Result
    • Blockchain
    • Bitcoin
      featured image

      A Beginner’s Guide to Bitcoin futures trading

      crypto traders 2021

      Top 5 Crypto traders to follow on Twitter in 2021

      featured image

      Everything you need to know about Bitcoin IRA

      featured image

      How Bitcoin can be hacked?

      featured

      A starter guide to Bitcoin Options trading

      Featured Image

      With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

      featured image

      Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

      featured image

      Why is Bitcoin a safe haven in a financial crisis

      featured image

      How to Make Money in Crypto When It Falls

      Trending Tags

      • Altcoin
      • Crypto Lists
      • News
        bitcoin laser eyes

        Bitcoin Laser Eyes, What is it all about?

        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        featured image

        Breaking : Crypto Trading is now legal in South Korea

        RBI to allow crypto trading

        Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

        featured image

        Steemit Joining TRON Ecosystem

        Reliance Jiocoin

        Reliance Jio is preparing for Jio Coin launch in 2020

        A $134 Million real estate has sold on ethereum blockchain

        A $134 Million real estate has sold on ethereum blockchain

        Hacking attacks on cryptocurrency exchanges

        Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

        Bithumb Launches in India

        Bithumb Global Launches in India

      • Crypto Market
      • Guide
      • DEFI
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home Blockchain

      You can give your crypto as collateral for a fiat-loan with Nexo

      Hitesh Malviya by Hitesh Malviya
      April 14, 2018
      in Blockchain, Cryptocurrency
      0 0
      0
      Nexo
      1
      SHARES
      77
      VIEWS
      Share on FacebookShare on Twitter

      Nexo appears to be a truly innovative blockchain service that the crypto ecosystem has seen in a long time. Nexo is the world’s first crypto-backed loan which aims at providing instant cash to users without requiring them to sell their cryptocurrency.

      It aims to provide instant loans to anybody through the collateralization of digital assets. Through the platform, users can directly receive fiat money to spend either in their Nexo Credit Card or their own bank accounts.

      How does Nexo work?

      Nexo is powered by Credissimo which is a publicly listed European FinTech company specialising in instant loans, bill payment services, and e-commerce financing. It has combined the efficiency of Credissimo with the blockchain technology to present innovative and efficient financing solutions for the new digital economy.

      The Business Model of the crypto is essentially a 4-step process:

      Step 1: A user transfers their crypto assets to their Nexo wallet. After the relevant blockchain information has been confirmed, the loan limits and payments are set-up instantly.

      Step 2: The loan limit is made available instantly through bank transfer or the free-of-cost Nexo credit card. The user has the choice to pick the currency in which they want to receive the funds. The loan limit is determined by the market value of the user’s crypto assets.

      Step 3: The user repays their loan to the platform either through bank transfer, crypto currency, or fiat currency. Any user who chooses to make payments with the NEXO token receives a special discount on interest rates.

      Step 4: Once the loan has been repaid completely, clients can withdraw all their crypto assets from the Nexo Wallet.

      The Nexo Credit Card

      One interesting feature of Nexo is their Credit Card which offers access to a flexible loan where the loan limit is determined by the market value of your crypto assets. As soon as your crypto’s value goes up, you receive instant 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 solutions does Nexo offer?

      • Value of Digital Assets: Investors who own digital assets and cryptos worth billions can obtain an instant access to fiat currency by collateralising their digital assets in the Wallet.
      • Instant Cash Access: Asset liquidation is a slow process and in times of emergency, the wallet enables you to access cash conveniently around the globe.
      • Retaining Ownership: clients keep all the ownership of their digital assets and can access them again as soon as the loan has been repaid completely.
      • Cost and Tax Efficiency: the wallet does not incur any tax liabilities or exchange and/or any hidden fee.
      • Zero Credit Checks: the crypto-backed loan is instant and does not call for running unnecessarily long credit checks.
      • Transparent Blockchain Contracts: The blockchain governing the ownership of digital assets is transparent and secure.

      Use Cases

      The worth of a blockchain is, to quite some extent, determined by its applications. The concept introduced by Nexo can help

      1. Cryptocurrency Investors: who can receive instant funding on the market value of their crypto.
      2. Cryptocurrency Miners: catering to their need of computing power.
      3. Hedge Funds: can make the most of new investment opportunities by leveraging their portfolio.
      4. Cryptocurrency Exchanges: can raise funds to finance their margin lending and trading services.
      5. ICOs and Crypto Companies: can set-up an instant crypto-backed loan to meet their working capital and operating expenses.

      The Verdict

      Nexo is backed by a company of 10-year reputed history with operations in multiple countries across the globe and is still growing with considerable profit. Using cryptocurrency as a collateral for lending has significant potential since it allows users easy liquidity of assets while retaining their ownership.

      However, the NEXO tokens have been classified as security tokens because of which no current high-volume exchanges are able to list it. So, no prediction about their trading volume can be made.

      Yet, the project appears to be a good one with substantial potential. It offers easy, quick, and secure solutions to a lot of financing problems of the crypto world and its long-term prospects are looking good.

      Visit – https://nexo.io

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Share1TweetPin

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      blockchain myths

      Top 5 Blockchain Myths Explained

      by Guest Author
      March 4, 2021
      0

      In this article, we will explain top 5 blockchain myths. Blockchain technology has developed significantly in recent years and has...

      featured image

      Top 10 Blockchain companies in the world

      by Nivesh Rustgi
      February 22, 2021
      0

      In this article, we will discuss the top 10 blockchain technology companies in the world. 'Blockchain, not Bitcoin,' is a...

      Cofounders of Ethereum : The mystery revealed now

      Cofounders of Ethereum : The mystery revealed now

      by om malviya
      February 20, 2021
      0

      In this article we will discuss cofounders of ethereum, and where are they now? Ethereum is without any doubt one...

      Top 10 Altcoins to buy on Uniswap – Part 1

      Top 10 Altcoins to buy on Uniswap – Part 1

      by Hitesh Malviya
      February 21, 2021
      0

      Bitcoin breached 50000$ price level two days ago and building nice support above this mega level. On other hand, altcoins...

      playcent

      Introducing Playcent- Decentralised Wix for interactive apps and games

      by Hitesh Malviya
      December 14, 2020
      0

      Playcent is a blockchain-based user-generated content platform for interactive apps and games. It’s a remix tool that anyone can use...

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      Top 10 NFT Crypto Projects You Should Know

      Top 10 NFT Crypto Projects You Should Know

      March 5, 2021
      Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

      Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

      March 6, 2021
      hidden gems crypto

      Top 5 Hidden gems Crypto

      February 27, 2021
      featured image

      Top 10 Low market cap altcoins to invest in 2021

      March 2, 2021
      non fungible token

      Non-fungible Token(NFT): The Next Big Thing in Crypto Market

      February 18, 2021
      top 5 ido march

      Top 5 Upcoming Token Sale in March 2021

      March 2, 2021
      top-altcoins-march

      Top Ten Altcoins You Should Buy in March 2021- Part 1

      March 6, 2021
      top-altcoins-march

      Top Ten Altcoins You Should Buy in March 2021- Part 1

      March 6, 2021
      NBA TOP SHOT

      NBA Top Shot: What’s All The Buzz About?

      March 5, 2021
      blockchain myths

      Top 5 Blockchain Myths Explained

      March 4, 2021
      Top 10 NFT Crypto Projects You Should Know

      Top 10 NFT Crypto Projects You Should Know

      March 5, 2021
      top 5 ido march

      Top 5 Upcoming Token Sale in March 2021

      March 2, 2021
      crypto influencer

      Top 10 Influencers in Crypto New Investors Should Follow

      March 5, 2021
      eth2 development

      According to Chainstack Report: Over 5,000 developers have contributed to the five client projects on Eth2 mainnet.

      March 1, 2021
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        0 shares
        Share 0 Tweet 0
      • Top Ten Altcoins You Should Buy in February 2021 – Part 1

        0 shares
        Share 0 Tweet 0
      • Top Ten Altcoins You Should Buy in February 2021 – Part 2

        0 shares
        Share 0 Tweet 0
      • List of leading partners of Ripple, and How they use XRP?

        137 shares
        Share 137 Tweet 0
      • Top 10 NFT Crypto Projects You Should Know

        0 shares
        Share 0 Tweet 0
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • About US
      • DEFI
      • Home
      • Newsletter
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.