What is Nexo?
Nexo, which was founded in 2018 by Antoni Trenchev, Georgi Shulev, and Kosta KAntchev, is a known platform that allows consumers to earn compound interest on their daily-paid cryptocurrency and also serves as a loan and borrowing platform.
It employs protocols and blockchain technology on the platform to process transactions, despite not being considered a decentralized app. The user can not only earn money by earning interest on their crypto and fiat currencies like USD, GBP, and EUR, but they can also borrow cryptocurrencies by using their crypto coins as collateral.
Nexo provides rapid cash loans to its customers through crypto lending, with amounts ranging from $10 to $ 2 million. The lending platform allows users to borrow at no cost, lending Bitcoin, stablecoins, or cash, and the service is also flexible with repayment, requiring no credit checks and making it accessible to crypto holders.
Additionally, it offers also, high-interest savings accounts in cryptocurrencies and fiat currencies such as EUR, USD, and GBP with customer's funds protected by an insurance policy. This allows the user to earn up to 12% interest on their fiat and cryptocurrency balances. These monies are either added to the user's saving wallet or transferred to another account.
You can use the Nexo card to spend the value of your digital assets without selling them. Many companies throughout the world accept Nexo's card, and it also offers 2% cashback on transactions made with its partnered businesses.