Nexo is a brand new blockchain-based network that is designed to offer users that are interested in instant cryptocurrency-backed loans. At the present look of things, there are no means for digital currency holders to use their digital assets other than trading them at profitable rates. Nexo utilizes a business model that is highly innovative where users can keep 100 percent of their digital assets while having instant access to cash.
The company said these cryptocurrency-backed loans are a flexible, cost-efficient, and automatic means of procuring liquidity which is secured by the value of the digital assets of the client. The process of obtaining a loan is pretty simple and can be completed in few minutes. Some of the most significant benefits of using this platform include no credit checks, no capital gains taxes, and no hidden charges.
The Platform’s Overview
- The business teams and core developers of Nexo comprise of individuals that have been in the fintech industry for over ten years.
- The advisory board of the company comprises of a lot of prominent members of the finance sector, including Polymath and TechCrunch founders.
- Nexo firmly is monitored by several European regulators of financial and banking services.
- The company has a very friendly and easy to navigate user interface that is augmented by a high level of anonymity and privacy.
- The token of Nexo is compliant to the US Security and Exchange Commission.
How the Platform Works
The business model of the company is unique and it is aimed at providing clients with instant cryptocurrency loans, hence, making digital assets more valuable. The platform works in a very simple and straightforward way. If you want to borrow money from the system with cryptocurrency, you need to transfer the cryptocurrency to the Nexo Wallet. After which, you will receive an instant loan. After repaying the loan, you get to withdraw your crypto from Nexo Wallet. That’s all.