Nexo are now CoinMarketCap’s only endorsed crypto-backed lender.
They have created a Get Loan button on each and every page of the most visited website in the blockchain space (100+ million views monthly).
It is an ingenious move by Nexo and their price responded immediately.
How does the loan work?
In a nutshell, you buy Nexo, hold it in their platform wallet and they give you the equivalent amount in fiat (direct to your bank) or Tether (crypto pegged to the dollar).
When the loan is repaid you get your Nexo back (along with any gains or losses it may have seen).
You can also use BTC, ETH & BNB to secure loans, and this list is likely to keep growing.
But, to incentivise the holding of their native token, you will receive interest rate discounts if you create your loan with Nexo.
Why is Nexo going to be HUGE?
When the bull market returns this is simply a logical move for any of us holding crypto.
We all want extra cash to inject as investments into other coins when the bulls are in charge, right?
To further incentivise the use of their token, if you pay back your loan using Nexo, you receive a hefty discount on the interest rate.
Final Thoughts
Earlier this year I bought $1000 worth of Nexo at the ICO stage, which today is valued at around $2000. I have no intention of selling it because when Bitcoin soon begins to steer us steadily upward again I will be getting the maximum loan available to put it back into the market, enabling me to repay it in no time and do the whole process over and over again.
It is just such a simple and logical way to maximise the growth of your portfolio during a bull market.
The platform itself is really easy to use with a single page interface and I feel sure that this little blue Get Loan tab on CoinMarketCap will now lead many people to this site where they will be enticed to buy some Nexo and get themselves a loan.
A wise man once told me rich people never spend their own money. Nexo provides this opportunity for us in spades, only now we don't need to be rich, we just need to own some crypto.
You can sign up to their platform here
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That's great to hear. I've liked NEXO since the early stages. I couldn't participate in the ICO due to being an American. Then when it came on exchanges I decided not to buy because I figure I could always get some just when I need it (when doing a loan) since I think they use the current price of NEXO to give you the discounts for using NEXO. Correct me if I'm wrong about that. It didn't seem I needed to hold the coin in advance of using it though.
That sounds spot on to me. You can buy the NEXO just prior to getting the loan to receive the discount. And get an even bigger discount if you pay the loan back with NEXO. A clever system really.
I was lucky to get into the ICO with a trading group who pooled together $200,000 to get a good price. Me with my little $1000! haha! We have to start somewhere right?
😃
You should have said you get your Nexo back (along with any gains or losses it may have seen) Because that is actually how it works. @samstonehill but a sales pitch is a sales pitch, I think it is a brilliant idea.
That's actually a really good point and I will make that adjustment now. I'm just forever the optimist!
It really is a good idea hey. Looking forward now to that bull market.
Looking forward to it too bro
Nice interface, works well and easy to use. In the process of acquiring a few nexo!
Excellent! If only they had a referral link for me ;)
Happy shopping!
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Sounds like a sweet deal @steemybot