I have been making posts about NEXO since it became my first ICO investment back in early 2018 (in that brief moment when all steemit users felt rich before the long crypto winter) and it remains to be the only coin which I have consistently shilled here, this being my fifth post on the subject.
The growth has been relentless in recent months and I don't need to tell you how pretty my investment looks now.
But beyond this I have started to use their loan system and I can immediately see how effective it is.
Please note I am not making this post to brag but rather to remind you why this token is so important and also to let you know that you are not too late to jump in and enjoy the benefits with me!
Rather than re-write a post describing exactly how NEXO works I will provide for you here the link to an older post which goes into everything in detail.
What I want to focus on here is how I am using the NEXO loan system to increase my net worth.
Crypto loans
I remember clearly the feeling I had during the 2017 bull run, wishing I could get my hands on more money to invest into crypto. I am however blacklisted with traditional banks and no one I knew would lend me money.
So when I heard about NEXO offering loans without credit checks, using their tokens as collateral, I knew I wanted in but I also knew the functionality of the token would not be useful to me until the bull market kicked off again.
Two years has been a long time to wait but now that it is done, my plan is working perfectly.
My system
The first loan I took using the NEXO platform was for $900 (paid out in Tether) and I re-invested it into three coins: Algorand, Cosmos & OMG.
The minimum borrow period for NEXO is one month so I used this as my target, paying back the loan after 30 days. By that time all three of my investments had more than doubled, while other investments were shooting up even faster. I took $900 from the strongest movers and paid back the loan.
During that 30 day loan period my NEXO tokens had increased in value substantially, permitting a larger second loan.
The second one was for $4500, all of which was immediately re-invested into the the crypto market.
One month from now I will pay back the loan (assuming it has been a month of growth) and then I will take another much bigger loan and repeat this process until the bull market comes to an end, at which point I will likely sell all my NEXO tokens. If history is anything to go by, the following few years will not be a good time for crypto hodlers and your money would be better invested into a leveraged short position on ByBit.
So, to answer the question of how NEXO has changed my life, I hope the answer is clear. It will make you richer quicker during a bull market!
As it stands the price looks to be locked inside an ascending triangle, which could break out either way.
If we confirm a break to the upside (with the close of a 4h candle) I would personally jump in immediately. Even if we go down from here, it is highly unlikely this will be for long and if your investment is big enough you can immediately begin the loan process and re-invest into other tokens you believe to have an immediate upside potential.
The game is simple.
And fun!
Enjoy 🌱
(title image source here)
Amazing post @samstonehill! ✨🥰
Appreciate the comment. Hope you are able to use the information to your advantage.
Hey @cuddlekitten it's always good to see you here :)
How is life treating you?
Perrrrrfect ;)
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Thanks for letting me know!
You're welcome @samstonehill, nice motivation 😉👍