You Lucky People
You were lucky (smart) to have bought some crypto assets before 2017. They've appreciated very well in over the last year or so and while the price of bitcoin may have fallen dramatically from it's sharp rise at the end of the year, this was a normal correction for the market and it's still up by a large percentage. You traded some early bought Bitcoin for Ethereum, which has also performed well over the last 12 months and with your ETH gains, you bought into a few cleverly chosen and promising ICO's. It's fair to say, you made a small fortune which you haven't yet capitalised on. You'd like to but.. why would you risk selling the price rise ? There's always a third way if you look for it. Nexo
A Nest Egg
Your small fortune is not enough to retire on (yet) but you're now that you're a fully fledged CryptoNaut and a BlockChain Evangelist you know that the potential of Crypto (the Killer App the internet has been waiting for) is about to unleash it's transformative and disruptive abilities upon the entire world and you're not about to cash in and run only to see Bitcoin potentially reach $50k in the next year. (More than a few key analysts suggest it may happen). You've seen the ICO run recently. There's a BlockChain project for every industry sector and although they won't all survive the test of time, the smart ones will inherit the future. (You might also have the chance to back one of the next generation of Googles, PayPals, Amazons, Ubers & Apples of the future, if you keep reading on.
The Big Dilemma
You have a dilemma on your hands. Some of your friends, (who didn't have your foresight and don't own / understand) crypto keep telling you to liquidate your crypto. (to do what, put it in the bank, are you kidding me?) You often reply that you're in it for the long term. You think (and I'd agree with you) that the long term future of this seemingly new decade old technology is actually just in it's infancy. It will become a huge growth engine, affecting and disrupting every business sector over the coming months & years (in many positive ways). Making all all aspect of life more secure, transparent, error free and fully accountable. It will change the relationship we have with banks & corporations and eventually perhaps governance too, bringing choice, fairness and more of a level playing field for ordinary people than we've had in perhaps hundreds or even thousands of years since the Ancient Greeks first invented the concept of Democracy. You probably didn't notice the double inclusion of the word 'all' in the last sentence, a piece of software would spot that.
Pericles in front of the Assembly by Phillip Foltz image source wikipedia
Ok, let's not get too carried away (yet anyway). A technology is only as good as the tasks it's put to and by the people who deploy it, but let's take the Internet as an example. In less than 25 years it has fundamentally changed (mostly for the better) people's lives all over the world. Knowledge, access, education and the way we access essential services, some which didn't even exist prior to it's mass adoption, like email. My whole career and life has been positively shaped & coloured by Internet Protocols.
I mentioned a dilemma ? Most people could easily spend their crypto profits on something essential. Perhaps your old car needs replacing or your washing machine suddenly did. My washing machine actually did break down a few weeks ago and it cost almost $1,000 to replace. You've worked hard at this crypto biz, but hang on a minute, what did you just say ?
Sell My Bitcoin .. ARE YOU CRAZY ?
And Here is the Smart ANSWER to this Most Perplexing Dilemma
Nexo allows you to borrow against your crypto wallet by simply holding some currency in it and it comes with a regular but smart credit card to spend it. This is not to be underestimated as a unique sales proposition. It's one of the simplest, smartest and no brainer crypto initiatives out there. It immediately and deftly answers a question fundamental to the entire HODL principle. It was not thought up on the back of a napkin either. It's been developed by a major player in the game with many years experience of the credit industry. This is what the BlockChain Revolution represents for me. Real world solutions which are highly disruptive, cost effective, efficient, transparent, low fee and fair. Did I mention profit sharing investment ?
I immediately just got it, and quietly amused, laughed to myself upon realising that This IS the Answer to the dilemma. Just like a bank account, (except without touching a bank) you can have, for the first time EVER, a crypto overdraft which you can repay in fiat if you so choose or crypto. Thanks guys, you just added an extra 2 hours sleep per night to my week. No credit checks, no fences to jump, no computer says no runaround, just a very simple (error free) smart contract enabled solution to the eternal (and let's face it, relatively recent) phenomenon of how do I cash in some crypto without risking losing on a rising price. It's a far better bet than margin lending through an exchange where fees cancel profit (and you still can't spend it) and it's much more evolved idea than futures which let's face it, are a one dimensional, institutional tool for one eyed dinosaurs. (D'yathink-he-saurus)
I'm a Business Mentor and I always tell my clients, if I get your business idea in one sentence and it immediately makes sense when you first utter it, you probably have a great business idea. The USP or Unique Sales Propostion. (This equally applies to a story idea, ad campaign, new product, gizmo, gadget or any other kind of business service you can dream up.) Nexo have done it. (where's the applause button?) of course, this is not medium.com ;) but I can use an emoticon to express some feeling here. 🚀 🚀 🚀
Investment with a Healthy Return
Many ICO's offer the world.. (have you seen the numerous Airdrop channels on Telegram recently, some offerings are faintly ridiculous) and may deliver, possibly not much of anything. Many so called coins offer the investor an outside chance at a price rise in a market which is thickening as quick as custard.
Nexo on the other hand are offering a solid proposition with proven demand and a return on investment, so let's do a simple thought sum.. Let's buy some tokens in Nexo, we'll have a dividend payment of a healthy 30% percent of their profits. Let's match that with a crypto wallet balance. Let's imagine we want to liquidate but not risk, some of our balance to pay for unseen costs; medical, school fees, boiler breakdown, new tumble dryer, holiday of a lifetime, honeymoon perhaps, or just the new baby equipment (I've got 2 little ones) the things they need, it's just endless !
You can now use your existing Nexo tokens (that we just bought) against our overdraft balance and in doing so, benefit from reduced fees. This is a really interesting proposition and not just to this writer. Early requests for access to Nexo amount to $500m, that's no chump change. Nexo is not just for me and you. Crypto miners could use Nexo to upgrade their equipment and expand operations, but it's real business case is in it's function as a heavy weight B2B enterprise with enough clout to provide exactly the same liquidity to me and you to Hedge Funds, Crypto Exchanges and other ICO start ups. A far better match for provision than the traditional banking sector, who intimidated by crypto's new way of doing business, are often not as supportive as they could be. This is a real challenge to the existing banking system and along with new crypto payment gateways coming on stream in 2018 it's the beginning of a new chapter in the Global Economy. As mentioned potentially a Tsunami Wave of change in a positive direction. Unlike the banks Credissimo understand the landscape of the Brave New Crypto World have a healthier attitude towards their clients, and the potential of crypto as business growth over the near to mid term future.
Who are Nexo ?
Nexo is being launched by Credissimo. They're been operating successfully (and growing) since before Crypto was invented. They have over 100 employees and have loaned over 100 million Euros. They know what they're doing. They are fully licensed, regulated, tried and tested, award wining, audited by Deloitte & market ready. This is no get rich quick and dump scheme. Their Telegram group is one of the biggest in existence with over 50k members. They do have some competitors. ETHlend and Salt. By comparison these newcomers have only been in the market for 1 year and 1.5 years respectively. Their lending is manually operated on a match basis. It's not quite smart operated and makes it a slow & costly business model. This is a fundamental difference in approach and one which will help shape the future of the entire sector. Smart will win, hands down. Even the Central Bankers would admit, Smart Contracts are the future.. now.
How do I access my Funds
The Nexo Credit Card. Simple. It's a credit card exactly like any other, except it calculates crypto prices increases and makes that available to the balance, based on whatever you placed in your wallet. Can your bank do that ?, would they ? As I said, Smart will win, it's more evolved and responds to need.
Tax Efficient
Capital Gains tax is payable on crypto profit. Something which will make itself felt to many people's pockets over the next year. In many jurisdictions, crypto gains will be seen in the same way as any other investment, like gold or propery. Take a look at this comparison and see for yourself another natural built in advantage to a crypto-overdraft. It's well thought out and offers tangible benefits for the part timers and the day traders.
RoadMap
Carefully planned over the next couple of years to include the introduction of mobile wallets, deposit accounts and extensions to maximum credit limits. You wouldn't venture into unknown territory without a map. This is why a Roadmap is so useful for investors.
The Team
This is a real working team, not just a hastily assembled ICO launch group. A fully proven team of professional analysts & technologists with a formidable advisor panel, it's a serious proposition.
ICO
This is not an investment for the inexperienced hobbyist. Investment starts a $5,000 minimum. If you are interested in this ICO and you fully understand the mechanisms involved, I recommend you read the carefully thought out token terms here
For More Information
this article is not an endorsement of Nexo. I always recommend investors conduct their own due diligence and research and not rely solely on the advice of others. Remember investments can go up as well as down.
nexo2018
And yet again, you're part of the top 5 winners. Congratulations! You write really well and you are equally getting recognized for your hard work every week. I'll catch up with you one day in the contest.
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Hi @outerground,
glad to read a more extensive post about Nexo :-). Unfortunately their minimum entry put them out of my reach... but I can confirm that from what I learned while digging into them, they are a legit company (expanding market player) and team... who seem to know what they are doing:
https://steemit.com/cryptocurrency/@hasse72/nexo-airdrop-project-company-and-team-due-diligence
Admins are responsive too (e.g. explaining that they had this minimum, for what I understand, because of the workload).
Fyi: Coin Bloq apparently had some reservations about the coin economics and the team asking far too much money... but no fundamental criticism towards team or project... except giving more credit to SALT. You can check his (brief) review here (@7'40"):
(mobile)thanks for the info @hasse72 Nexo is certainly legit and expanding. Credissimo have been in operation since before bitcoin was born and they have loaned over 100m Euros returning 130m.. pretty impressive figures. They also have 100 staff and a very experienced team. To be fair coinbloq by comparison have only made 16 tweets so far ;) and from what I can see, is just one person
Oh God! I'm not lucky coz I couldn't bought. Actually I'm new in crypto last year. Please vote my comments so that i can Improve myself on steemit as a new user.
thanks for your comment @noor.money. There's still time to earn some steem for the future. If you read (anyone's) steemit etiquette notes, you'll soon find out that asking / begging for upvotes will only get you ignored. perhaps try joining PAL (Peace Abundance & Liberty) on discord, set up to support minnows where they will show you the basics and help you improve your performance !
Thanks for your instruction. I already wrote who I am on my steemit account. Very soon, i will change my photo and also add a cover photo. Can you please check it again?
Thanks By,
@noor.money
that's much better ! well done. Steemit is a hard nut to crack but worth it :)
Actually sir, I am trying to do better but my my reputation not growing up. Little followers also. How can I increase these all?
Thanks by,
@noor.money
Congratulations! You always write interesting and creative. Keep going!
Very well crafted, addressed nicely with a 'lively' twist!
Great entry :)