Reddit Posts
Ways to leverage trade BTC / ETH without margin trading? Let's see!
Can the IRS see or seize my crypto on a foreign exchange?
Looking for a platform/app ti stake stable coins
I read all major exchanges' Terms of Services, so that you don't guys have to: Binance, Kraken, Coinbase, Crypto.com, OKX, MEXC, Gate.io, Huobi, Nexo, ByBit, Mt. Gox and FTX
Best Crypto Debit card of 2023 for those in the USA?
I’m Canadian, where should I keep my BTC, ETH and XRP now that Binance and Nexo are pulling out?
I’m Canadian, where should I keep my BTC, ETH and XRP now that Binance and Nexo are pulling out?
r/Cryptocurrency Banner Advertisement is for a Centralized Lending Protocol
NEXO: U.S. Residents Pack Your Bags
Crypto AI coins - What is the hype all about and is it sustainable?
Today I [SERIOUS]ly read the Terms and Conditions of Huobi, Nexo and ByBit
Nexo official answer regarding "Bulgarian Prosecution’s Lies"
Help me understand Mnemonic\Seed phrases\bip39
NEXO claims to have proof that they are innocent and declares that will sue Bulgaria for 1,000,000,000 Dollars for damages.
Nexo's (a crypto lender) offices were just raided moments ago in Sofia, Bulgaria, on suspicion of large-scale scheme for financial crimes
International prosecutorial action in NEXO's offices in Sofia, Bulgaria.
Police raid in NEXO's offices, apparently due to sanction evasion. SBF-style fraud also mentioned in the article
NEXO’s office stormed by prosecutors and police
Prosecutors and police storm NEXO’s office in Bulgaria
NEXO blocks withdrawals by clients, and demands they sell their crypto holdings to NEXO at 40% of value to re-enable withdrawals
Critical Response: NEXO Price Prediction 2023 and 2024
Imagine right now that NEXO still has customers
[SERIOUS] $2,619,260,356 is still invested in the lending platform Nexo
Combating Sensationalism in Crypto & the Importance of DYOR
I've spent hours trying to calculate my crypto tax
Theres a pattern of exchanges selling all their customers' crypto and buying their premined exchange tokens with the money. Coinflex, FTX and probably Binance are doing it. What other exchanges have a token they are pumping with their customers' funds?
As many as 8 US State regulators have already warned about NEXO. If you have funds in this, well.. you have been warned
When I posted about Blockfi being a bad idea I got flamed out so badly I deleted the post. If you've still got your funds on NEXO then good luck to you. Self custody, if you have to use an exchange for APY then use a heavily regulated player like Coinbase or Binance, and even then it's not risk free
FTX and Alameda contagion. Some alpha. What's next, who's next?
Will NEXO be NEXT? Regulators warn its insolvent, company is giving out loans with Ape NFTs as collateral. What could go wrong? If you have funds here, might be a good time to de-risk
What are your thoughts on the Nexo saga?
NEXO's liabilities exceed its assets (Emergency Cease and desist)
Which Altocoins to get rid of/convert to something else?
How I have survived this bear market(and still ) while my 2 friends did not. Story time. Remade.
How I have survived this bear market(and still ) while my 2 friends did not. Story time.
How exchanges will handle a potential forked (PoW) ETH. Some are automaticly airdropping potential forked coins!
This Friday's heatmap is looking green all the way. LUNA (+232%), LUNC (+81%) and RVN (+60%) showed the most active growth this week, and NEXO (-12%), 1INCH (-10%) and SNX (-7%) dropped down more than others. The global crypto market cap is $1.04T.
This Friday's heatmap is looking green all the way. LUNA (+232%), LUNC (+81%) and RVN (+60%) showed the most active growth this week, and NEXO (-12%), 1INCH (-10%) and SNX (-7%) dropped down more than others. The global crypto market cap is $1.04T.
Crypto staking and ETH Gas fees - how to reconcile?
Discomfort with using exchanges and desire to stake
Blockchain.com does not pay my 1 500 000 DAI and 500 000 USDT
Blockchain.com does not pay my 1 500 000 DAI and 500 000 USDT
Nexus Mutual: A great project with a wide moat in DeFi
Twitter account that was exposing Nexo and Ku Coin has gone.
95% of cryptocurrency exchanges work while 80% of CEFI lending platforms fail.
If you are in CeFi right now (Nexo, BlockFi etc) you are taking a huge risk
Finally starting to live the "real" crypto life
14 Months Later, Fundamentals Is Still King
NEXO price drops 40% in three days on rumors of ties to 'insolvent' crypto fund
How altcoins are faring since bitcoin has been going sideways
How have altcoins fared since btc started going sideways?
What are you guys buying on this dip? If your not buying what’s your price targets?
Basically all the high interest USD interest lending was done by large companies investing in the failed stablecoin and skimming the excess interest for themselves. How many are really bankrupt now?
How much have the top 100 dropped since the last highest high
Were crypto.com VISA cards too good to be true? A small research [EU]
With CDC shitting itself I've been looking into alternatives
Staking companies who offer a VISA or MasterCard ?
The Crypto.com card isn't worth it anymore, but which crypto card alternatives are out there?
Binance is listing Mobilecoin (MOB) and Nexo in less than an hour
I’m heavily considering moving more of my portfolio into stable coin lending programs. What are some realistic cons?
Bitstamp is listing five new assets: IMX, NEXO, CTSI, CVX and UST
What risks do regulators pose to crypto?
Lost $100 today because of malware (Begginer warning post)
What's keeping me from transfering all my funds to NEXO from Binance ?
NEXO Under U.S Regulatory Scrutiny Over High Yield Crypto Product
Banks don't like competing with crypto platforms that give 10x the interest- NEXO just announced no new Earn Interest Products for US residents as of tomorrow
Any experience/advice for someone who just wants passive income from interest and simply HODL?
I lost over $950k. I never thought it would be me!
Worried about an extended crypto winter? Doubting your coins will make it or think they’ll drop another 50+%?
How to make your BTC work while you're staking the rest of your portfolio (summary and poll)
How to make your BTC work while you're staking the rest of your portfolio (summary and poll)
The shitty side of things: Nexo Wallet and fine print that is as big as a fucking rhino.
I collected data on the top 100 coins to find out which ones have the biggest communities on Reddit
Daily Complaints about COINBASE users being hacked….
Using stablecoins to stablize your portfolio and the market
Crypto company partners with asset management company with more than $7 trillion of client assets
A list with the best crypto cards (debit/credit) and their benefits.
A list with the best crypto cards (debit/credit) and their benefits.
A list with the best crypto cards (debit/credit) and their benefits.
A list with the best crypto cards (debit/credit) and their benefits.
NEXO vs. BNB. Not what is sounds like.
How do you buy a house using profits from crypto?
Mentions
I choose $NEXO - great community and that same goes for the token
NEXO is nice for the interest on my holds but low choice of coins. KRAKEN seems nice but I haven't used it long but there are a lot of choices, only issue is some of those choices a lire complete scams. Coinbase I use as well for regular use when I want to buy for my wallet. Coinbase and NEXO have been here a long time so I tend to trust them more.
If NEXO is allowed in Canada, you could move it there and get upto 8% flexible savings on it. That's what I am currently doing.
My bank has put a limit at £3k a month on deposits to crypto exchanges but yeah KRAKEN and CRYPTO.COM and NEXO are the ones I have used...
NEXO Pro, 1 free widrawel per month to cold storage.
yes, for sure and when it does I am buying at $NEXO
If you are outside the US I would recommend NEXO
Stay the hell away from putting your Bitcoin as collateral for low interest loans. I got burnt big time by putting as collateral 2/3 of my Bitcoin stash with NEXO to get a loan for a house purchase instead of simply selling my 50k price BTC in 2021. I regret that decision everyday since then and get sleepless nights now that Bitcoin is back at ATHs.
NEXO is up ca. 60% over the previous month so that may be worth mentioning as well.
I say you check out $NEXO, and also the market and how the token performed the last year. It has even outperfomed $BTC and $ETH
Gain command over your #NEXO account from anywhere via the mobile app, ensuring users enjoy accessibility and convenience.
The only platform i trust at this moment is NEXO. They stand strong, got the charges they had proven false and baseless. Countersued and have alot of experience in both crypto as finance.
Its a good portofolio now eth and btc will probably do a 3x from current price en lerhaps much more if the etf money keeps flowing in. For the altcoins they are solid, personaly i also hold axie infinity and NEXO Should you remove silver etf hmmm it depends on what you think silver wil do comoared to crypti Diversifying is good in case crypto crashes butnif you think crypto will do good the next year then you could allocate make profits and return it to the silver etf
NEXO is still working, and have never been insolvent. I used to save a lot of money there, and the worse experience I had, were 30 minutes without being able to access my funds cuz high traffic. That only happened twice in 4 years I used it. Now I'm moving to defi though.
\#NEXO's asset-backed loans provide a responsible way to leverage your crypto holdings, mitigating risks associated with traditional loans.
I believe NEXO offer rewards for those two
Nexo but if your in the states options are limited. Ive done NEXO and Coinbase but those option are both gone for the states.
Thank you for this. I'm really disappointed with how they're handling reports of this, and the lack of warning or acknowledgement. I just received the exact same email a couple hours ago: From: Alex From Nexo <alex@snn2u.com> Subject: The NEXO airdrop is currently ongoing, and all Nexo users can claim it! The email looked well formatted and fairly legit, and honestly almost had me fooled. The message instructs you to connect a compatible web3 wallet to claim the $500 USDC, and has a link that redirects you to [https://nexo-token.com/rewards/index.php](https://nexo-token.com/rewards/index.php) I was a little shocked since the email address they sent to is a fairly private one that I only use sparingly for a few services. So given how specific and targeted this email was, there's no doubt in my mind that my email/info somehow got leaked from Nexo's side of things.
can’t believe people are still using NEXO in general, after celsius and co. going down …. man people ether have balls of steal or are very stupi… not sure what it is (i was a nexo user back in the day as well but pulled everything when the madness went down)
Well ama drop an unpopular oppinion NEXO because its one of the last standing crypto lenders Icp btx eth pancakeswap
It was Kraken then NEXO that i was blocked on
Will NEXO token go up if they win the claim ?
I originally bought in 2013. I was 85% down at one point in 2015, wanted to sell but couldn’t be bothered because there was only a few thousand in fiat left. Looking back, I’m glad I didn’t sell. Every four years I’m exponentially higher. Hoping for the same again in 2024-2025. In the meantime if you need cash, there’s NEXO or other lending platforms.
>Do you see it greyed out if you try swapping NEXO? I was able to dump my NEXO on uniswap back in October. >those assets weren't greyed out. Huh, okay, I could be completely wrong.
But I tried selecting other assets (which I also don't have) and, unlike NEXO, those assets weren't greyed out. I don't want to transfer my NEXO there just to find out I have to spend 1/3 of it just to move it somewhere else because Metamask has blocked NEXO swaps or something. Do you see it greyed out if you try swapping NEXO?
I had my NEXO locked up for a fixed period of time when NEXO closed to US customers. So I've only recently been able to withdraw it. I went to withdraw it to Metamask over the ETH network. I don't really use Metamask much, and I keep no value on it, so I have no ETH in it. I was checking if I could send myself NEXO, then swap the NEXO for ETH or another currency I could use with my Coinbase Card. When I selected NEXO in the Swap window, it was greyed out. Does this mean that if I transfer my NEXO to Metamask, the only thing I can do is then move it somewhere else, incurring more funds? **How can a US user sell their remaining NEXO with the smallest possible fees?**
NEXO and ETH are my only buys now.
If you're diving into the crypto world and looking for a solid pick for 2024, you've got to check out the NEXO token. It's my go-to coin! Nexo's all about earning interest on your crypto and borrowing against it without selling. Do not get me started on their crypto card too - debit or credit, you got it. The platform's solid, the team's constantly innovating, and the community is super supportive. Plus, with their tokenomics and real-world utility, it's not just another coin; it's a project with a bright future. Give it a look, and who knows, you might find
If you're diving into the crypto world and looking for a solid pick for 2024, you've got to check out the NEXO token. It's my go-to coin! Nexo's all about earning interest on your crypto and borrowing against it without selling. Do not get me started on their crypto card too - debit or credit, you got it. The platform's solid, the team's constantly innovating, and the community is super supportive. Plus, with their tokenomics and real-world utility, it's not just another coin; it's a project with a bright future. Give it a look, and who knows, you might find yourself as hooked on Nexo as I am! Happy investing, and here's to a great year ahead.
Stop being a pussy. You took a shot and it never worked out. Praise yourself for having a pair of balls to put it all on the line. I got my pants pulled down and fingered deep in my rectum by the last bull market. I'm an unemployed break even broke poker player I managed to sink 12 grand into crypto which I managed to get like 0.6btc, like 8ETH and an array of shitcoins. I got hungry for more lottery ticket shitcoins and put my valuable BTC and ETH into Nexo and used it as collateral for a 20 grand loan when Bitcoin was flying at all time highs. At one point my portfolio was over 100 grand and I thought I was the dogs danglies then in the space of like a week or two btc plummeted over 50% and NEXO liquidated my precious BTC and ETH and I was left holding bags of shitcoins that had turned to sawdust. It happens bro, learn from it and make sure your testicles aren't permanently damaged by this experience. If I could go back in time I would do the exact same plays I done at the time.
NEXO and BLUR are looking really hot right now!
> Literally anyone can do this, Firstly, this is false. Only those networks which are capable of conforming to the ISO20022; as outlined here: [https://www.iso20022.org/sites/default/files/media/file/ISO20022\_ComplianceChecklist.pdf](https://www.iso20022.org/sites/default/files/media/file/ISO20022_ComplianceChecklist.pdf) Just reading the first page is enough to make two things clear; 1. **THERE ARE REQUIREMENTS WHICH MUST BE MET IN ORDER TO BE ISO20022 COMPLIANT.** ISO20022 compliant tokens are those which have structured their networks/developed solutions to ensure their networks are capable of meeting said requirements of ISO20022. 2. **THERE IS NO OFFICIAL CERTIFICATION AUTHORITY FOR ISO 20022.** Because there is no OFFICIAL certification authority this means you have to turn to an auditor approved by one of the recognized Registration Management Groups: [https://www.iso20022.org/registration-management-group-member-list](https://www.iso20022.org/registration-management-group-member-list) 3. Using the above list, you have to then cross reference whoever is claiming their network is ISO compliant to verify whether the auditor in question was associated with or certified by one of the Registration Management Group members. (this is very similar to how most ISOs operate) Another big take away from how ISO20022 is set up is that not only are there ISO20022 compliant tokens and non-compliant tokens, but there are varying levels of authenticity of said compliance. These scales are determined by the degree of trust 3rd party institutions put within the auditor in question. As an extreme example, despite Vitalik Buterin's connections with NEXO, his audit of Ethereum is less authentic than the IMF's audit of XRPL due to the fact that orders of magnitude more banks/FIs trust the IMF's opinion over that of Vitalik Buterin. *(Don't misinterpret me either, the IMF has determined ETH as ISO compliant as well, I'm simply giving an example of how the legitimacy/trust placed within an institution/auditor is what will determine whether 3rd parties acknowledge the auditor's assessment regarding a network in question).* This same kind of bureaucracy occurs within other ISO standards, such as ISO 9001, where depending on your jurisdiction/business partners they require varying degrees of credibility regarding the auditor who confirmed your business is ISO 9001 compliant.
You can choose to have the interest in the token itself and not in NEXO. I personally prefer to have it in Nexo because I use it as collateral for my crypto card.
I've been with Nexo for the past year and I must say, the best service I've been given in a long time. The 16% rates are for USDT and only if you lock them up for 6+ months. You'll also need to be Platinum which means you need to hold 10% of your assets in NEXO token. BTC rates are 5% and 6% if you lock it up for a month (platinum). I'm not going to try to convince you since I'm not a financial adviser, but I personally love them, especially since I live in the EU, their crypto card is the best in the market.
That’s for bitcoin. For USDT the yearly return is 11%, plus 2 if you choose the NEXO coin option.
They pay interest with their own NEXO coin, which goes down in value vs BTC
I've been using NEXO for more than 2 years and it only had problems 2 times, when the network was extremely saturated, and you couldn't withdraw funds. Both times the problem lasted around 20-30 min, and you could still swap internally (their exchange rates are pretty expensive tho). Consider they are lending your money, that's how you get yield. You can get higher yield by having rewards on their Token, NEXO, also you must have 10% of your wallet in NEXO tokens, that'll make you a platinum user and access to better yield.
I’ve had no problems withdrawing money from NEXO so far which is good. If I buy Bitcoin with cash at a Bitcoin ATM how could they know? Also if i transfer from self custodial to an exchange later on, but don’t sell. Technically that doesn’t count as a sale correct? Only once I sell from the exchange
There's no mention about using NEXO token to pay fees in Pro app. Not a word in fee tiers table. Where do you set it?
0.20% and half off when you pay with NEXO.
To my hardware wallet. I pay 0.10% for a trade, without withdrawal fees making that my total cost (it's 0.20%, but half off when you pay with NEXO). However, you need to have atleast 10% in their native token (NEXO) to get free withdrawals, just buy ~15% of your monthly of your monthly DCA worth of it. If you wish to use it, make sure to ask someone for a referral code (this is applicable to multiple exchanges).
There is golden rule for that - invest what you can afford to lose Personally, I have 30-40% in crypto savings - When it's diversified it's safer by a lot. Plus I am lending my crypto, so I am not waiting for just the price increases - You can get 20% earning by WhiteBIT lending, and 12% at NEXO
I have a portfolio consisting of BCH, DOT, XLM and NEXO
Armanino got out of the crypto auditing business after FTX, and I guess there just aren't that many other options out there. NEXO have also been struggling to find a replacement for Armanino.
and the free account upgrades regardless of NEXO holdings?
The difference in professionalism between Cel and NEXO shouldn't be ignored.
I started using NEXO in 2018 - luckily I stayed with them for the bulk of my hot holdings instead of Blockfi, Celsius & Voyager
Not that I disagree, but ironically out of all the exchange tokens (CEL, FTT, NEXO etc) BNB is the only that has intrinsic utility as the token of Binance Smart Chain
I found NEXO to be the best choice for me personally but I do agree that all of the exchanges on that list should be a very safe bet.
You could use Nexo, you’d get 7% APR on your bitcoin and can get a loan at 50% LTV. 0% APR if a % of your stack is NEXO (or fulfill some other criteria) and you’re under 20% LTV (approx 600k at current prices). You never have to repay unless you reach that 20/50% LTV, which would rise as BTC rises. Also no tax unless you sell the BTC. Leaving 100btc on a CEX however, you’d be a braver man than me.
What are your thoughts on NEXO? (Especially considering what happened to Celsius)
No way a NEXO customer in the wild! I used to use Nexo (the earn service) untill they had to pull out of Canada. How are you liking the card?
Some interesting numbers... BTC down 61% from ATH. ETH down 66% from ATH. BNB down 69% from ATH. KUC down 85% from ATH. NEXO down 86% from ATH. HTX down 94% from ATH. CRO down 95% from ATH.
BTC down 61% from ATH. ETH down 66% from ATH. BNB down 69% from ATH. KUC down 85% from ATH. NEXO down 86% from ATH. HTX down 94% from ATH. CRO down 95% from ATH.
Honestly, 5% is really tempting and convincing than NEXO's 14% and TerraUSD's 20%, and it is also better than Apple Pay's 4.15%.
just forget about APY. there are many financial tricks to keep it going if needed. Lending platform, using their own token in exchange.. It's not a 100% sure scam thing. To this day, NEXO still hasn't bankrupt despite many claims of "scam" or "unsustainable" on this sub throughout the years. There are many ways to provide an APY using gains from other services they provide.
NEXO credit card works pretty good. I still use CRO card as well; the value of CRO is low at the moment, but the app and the card work smooth and is a very interesting option when travelling. Regarding Renegade, is there any deadline? I find no information. For European users, I think these are all the options with cashback (Nexo, CRO, Plutus). Renegade coming (¿?). Coinbase does not provide cashback (Spain user here). Binance is cancelling their cards here.
Does anyone here use or have used NEXO?
It’s hard to do. I use to make a bit of eth mining. Those days are gone. I use to make a bit of interest in a NEXO account. Americans can’t do that anymore. Plus there is the dangers of exchanges. If you got a good job then DCA into BTC and ETH and just wait.
For like a day I was worth $6M - maybe $2M after tax. Effectively the same story - started with $5k - borrowed $50k from parents / girlfriend (I made them $50k in the $1k to $20k run up) - had job, so repaying them would be easy (enough) - took out $50k on card advances (bankrupt if I bust) - so $100k capital, with $100k debt. Put that on Nexo (only cefi that didn’t bankrupt) - leveraged that 2x when BTC was $7k - $200k BTC / $200k Debt. BTC goes to $11k (2x again) - $400k BTC / $300k debt ($200k NEXO - $100k off books) - $15k double up again - $600k BTC / $400k debt. Also had a lot of Nexo which mooned from $0.20 to $4 (20x) - had like $2 Mil Nexo alone lol. All and all like $9 M assets $6 M debt at one point. Repaid Gf $200k on $20k borrowed (after 2 yrs, at peak), parents $300k on $30k borrowed - credit cards $55k on $50k borrowed. That was a lot of my ‘profits’. Then the initial crash happened + some ‘shenanigans’ (like Coinbase halting trading during a spot crash) - effectively bringing me down to $1 Mil - $500k at $15k bottom. I’m back up and in Puerto Rico (no tax on current profits). I’m also way more cash focused haha :) At $6 Mil I had $100k cash - at $2 Mil I have $1.5 Mil cash @ 5% - all taxes paid. I basically do 2 trades now : multi year longs on MSTR - paying 10x if BTC doubles in 2 yrs - If BTC hits $15k I’ll put $500k into this - and monthly shorts that say MSTR won’t jump 20% in a month (paying 100% / yr) - like when BTC was $30k I made $50k from shorts saying it would hit $40k by next month - $50k in a month. The main strat here is : say I have $100k BTC leveraged longs. Say I have $20k BTC ‘no moon’ shorts. If BTC moons, I lose $20k but make $20k from longs. If BTC flat, I make $20k from no moon shorts. If BTC down I lose on longs, profit $20k shorts (even). In sum, instead of +200%, -70%, +50%, +50% I should have like : +100%, -20%, +80%, +80%. It’s both for smoothing, but also EXTREMELY profitable with good discretion (more longs at $15k, more ‘no moon’ shorts at $90k). To be clear, a no moon short at $90k BTC says BTC won’t hit $110k next month - and pays 100% / yr (if you are right). I won’t short BTC next 12 months most likely, especially if it hits $15k to $20k.. but if like $50k before halving with housing crash, I will prob no moon short again. :) Life's a gamble.
Your keys, not your coin? I feel for you. Last March I had 1 BTC stolen from my Trust Wallet - well I guess on chain actually. It was .4 of my retirement fund. The thing is, I never made my seed phrase vulnerable. It was only ever written down on paper. I imagine the only way it was accessed was someone hacking my password on Trust Wallet. Ironically, I moved that BTC out of NEXO 3 months earlier, believing self-custody was safer. Silly me.
Fair comment. I use NEXO and use my crypto as collateral to earn extra NEXO coins. Maybe I should reconsider.
“You must have 10% of your portfolio in NEXO to get the best rates…” how does that work? How do they know you got less or more than 10%? Am I missing something? I can put in there just one thousand bucks and say it’s all I got… not quite following this logic.
Thanks man, yeah exactly! How different are they from Celsius really, or were they just lucky? As them just going ‘whoops we can’t cover withdrawals’ seems like a real risk even now. Especially when they try to tempt you back with even higher APRs, it seems like they’re just baiting you onto the platform. Ik NEXO is reputable with well evidenced collateralisation, that little fearful voice is always going to be present. Out of curiosity why is it you’re off stables? Cheers for the pointer to their sub, as one dumb fuck to another i salute ye
That’s what I’m asking, how much of their business model do you think banks on their ability to bail out with NEXO? Such as if there were another Celsius-like event, and people lost confidence so started pulling their assets - are they banking on using their NEXO to make up any shortfall? That’s why I pointed out how that might lead to a death spiral Also, if they’re able to offer this why aren’t other businesses able to? I ask as the go-to response for any other business in the crypto space offering APR as high as NEXO, is that it’s a red flag. Are all these businesses offering such sums before collapsing able to do it too in theory, and it’s just greed eventually causes it to go awry? I don’t have a developed understanding of this at all, and it’s late here (why the question wording can be a bit odd), but really appreciate any speculation or explanation that can be offered.
I never held UDST on Nexo, only USDC. For USDT, it still says „up to 16% APY“. Keep in mind that, again, this requires platinum tier loyalty level (>10% in NEXO) and includes the +2% through payout in NEXO aswell. Probably have to lock it in for a fixed amount of time aswell (not sure on that one). meaning if you want to get paid out in USDT it instantly becomes 14% APY, and if you want to be able to withdraw whenever you want, it probably gets slashed another 2% for 12%. which still is not too bad, i guess.
I don't know much about NEXO as to give you an informed opinion, all I can say is that 16% APR seems very suspicious.
I put that it my first comment dude, that’s what’s so odd to me. Normally APR that high is all the red flag you need, we’re told APR that high is always too good to be true, but then *bam*. There’s bloody lil ol NEXO still pootling along quietly offering crazy APRs. Don’t get me wrong, I have used them they’re my hot wallet of choice, and I will use them in future. It’s causing me cognitive dissonance them being legitimate yet offering these APRs, I just do not understand it whatsoever
Ahh okay so they are subsidising it with the token and kind of just banking on it keeping the value? Just as it seems a recipe for disaster right, like if their reputation took a hit their token would take a hit, and it’d be a death spiral if they could no longer use NEXO to bail them out. Am I missing something here? (I might well be to be honest it’s late here) Is it rly a case of this company is a Celsius waiting to happen, they’ve just better managed their assets during the last bear?
Well NEXO was created out of thin air, it doesn't cost them anything to reward it. They are at the core a lending company. The lending % is higher that the earning %
I still don’t understand how they reach the 7% even if it *is* in NEXO. It being in NEXO does that indicate that they’re filling any shortfall in revenue to pay that % by dumping more tokens onto the market? What about the insane stable coins at 18% or XRP 10% in a fixed term? How are they doing it, how much of it *is* them dipping into their own coffers to subsidise it?
How on earth can NEXO offer the crazy high rates they do, it’s something I don’t understand and people don’t talk about. Yet it’s a player preceding last bull that offered >20% yield on USDT and to a lesser degree still is at 16%. How can they pull that off??
What’s the real with NEXO in your opinion then? It’s still 16% APR on USDT, I just don’t understand how they manage it. Part of me thinks it’s the same as Celsius and just got lucky to not fold through the collapse. However then there’s also news like their assets being reviewed and confirmed as sufficient. It just seems incompatible to be offering both 16% yield and still be a legitimate business Something that’s always confused me, as I’ve used them and had no issue
This is what I don’t understand about NEXO - it’s still offering 7% APY on BTC, up to 16% on USDT. How is that even possible? It feels like a collapse waiting to happen, but I’ve used the service without issue myself and Ik their assets have been confirmed. How is it they’re offering these rates without being dodgy?
If NEXO is a legitimate company that is not having any problems, then why would they be buying and using thousands of Reddit accounts to shill NEXO nonstop? Many of these accounts even pretend to be customers of NEXO, but they are really owned by NEXO. They shill non-stop and many of them pretend to be customers of NEXO and brag about how much they are making with NEXO and recommend everyone to use NEXO. This is the exact shady behavior that scammers do. I've included a few screenshots of the post history of one of NEXO's shill accounts below so that you can see exactly what I'm talking about. NEXO uses thousands of Reddit accounts to shill NEXO like this. Nexo shill screenshot 1: https://i.imgur.com/JvjyvJH.png Nexo shill screenshot 2: https://i.imgur.com/W8B41iH.png Nexo shill screenshot 3: https://i.imgur.com/f1juyKI.png Nexo shill screenshot 4: https://i.imgur.com/CJdoWx0.png
If NEXO was a legitimate company that is now having and problems, then why would they be buying and using thousands of Reddit accounts to shill NEXO nonstop? Many of these accounts even pretend to be customers of NEXO, but they are really owned by NEXO. They shill non-stop and many of them pretend to be customers of NEXO and brag about how much they are making with NEXO and recommend everyone to use NEXO. This is the exact shady behavior that scammers do. I've included a few screenshots of the post history of one of NEXO's shill accounts below so that you can see exactly what I'm talking about. NEXO uses thousands of Reddit accounts to shill NEXO like this. Nexo shill screenshot 1: https://i.imgur.com/JvjyvJH.png Nexo shill screenshot 2: https://i.imgur.com/W8B41iH.png Nexo shill screenshot 3: https://i.imgur.com/f1juyKI.png Nexo shill screenshot 4: https://i.imgur.com/CJdoWx0.png
Would a legitimate company that is not having any problems be buying and using thousands of Reddit accounts to shill NEXO nonstop? Many of these accounts even pretend to be customers of NEXO, but they are really owned by NEXO. They shill non-stop and many of them pretend to be customers of NEXO and brag about how much they are making with NEXO and recommend everyone to use NEXO. This is the exact shady behavior that scammers do. Below are a few screenshots to show you what I'm talking about. NEXO uses thousands of Reddit accounts to shill NEXO like this. Nexo shill screenshot 1: https://i.imgur.com/JvjyvJH.png Nexo shill screenshot 2: https://i.imgur.com/W8B41iH.png Nexo shill screenshot 3: https://i.imgur.com/f1juyKI.png Nexo shill screenshot 4: https://i.imgur.com/CJdoWx0.png
Obviously Kraken is a good option, but not the only one. I remain satisfied with [Crypto.com](https://Crypto.com) (Europe - Spain), despite all the issues with communication and card cuts. Binance is always an option. NEXO probably is not a CEX, and native tokens are not the best idea, but works very well and has shown to be exceptionally solid during all these years. So: * Kraken * [Crypto.com](https://Crypto.com) * Binance * NEXO (if accepted as CEX...)
If you're in the UK try NEXO. No fees for on ramping or off ramping, no crypto withdrawal fees for most chains. All you pay is spread.
Out of all the CEXs I tried I found Nexo to be the most attractive. It's easy to use, has a smooth design and good bonuses for premium members. After the bad news earlier this year I mostly moved everything out of CEXs, with about 50$ left in NEXO. Just accumulating through coinbase now.
NEXO is the world's leading crypto-backed loan platform, providing quick and secure access to over 45+ fiat currencies and stablecoins.
I think most have high interest rates for very very limited time. I used AcryptoS to stake WETH and WBTC as they offered about 8% per year, looking at it after 1 year and the rate is now 0.1%... I made some money, ie I got more than I put in, but no where near the 8% yearly... Only NEXO has been offering me high rates consistently but then it's a centralized service and I have no idea what they do with the money
NEXO should be also a candidate
The sub is skeptical but I'm very happy with NEXO for close to 2 years now.
took a loan on NEXO. used crypto as collateral. bought VGX. VGX exploded. lost VGX value. had a nasty yolk around my neck. had to liquidate my precious BTC to cover the loan. it was ugly. fine now, but big mistake
As far as I could tell when I was using them, it was legit. They were partnered with some banks in Europe to be able to provide the insurance, and they had a crypto lending system which is how they were able to keep paying interest on the tokens you stored there. Their whole gimmick was different reward levels based on how much of their NEXO token you held in your account. The higher your level, the more interest you would get and the lower your rates would be if you borrowed crypto from them. I had gone through their whole program, did the KYC, got the highest reward level and everything and it was a great experience. I'm disappointed that I can't use it anymore since I'm in the US.
There is at least one, NEXO. However, due to legal issues regarding their own token, they do not operate in the US at all anymore. I really hope they come back to the US soon though, their interest rates were great and all assets are insured up to $500k.
You mean the yield or the cashback? Yield can be in the crypto you have earning yield or in NEXO, and the cashback can be in BTC or NEXO.
Coinbase can but NEXO can't.. coherency of this sub xD
Idk why it’s a trend and it’s also in NEXO but I believe it’s a scamcoin. Dont put your money in that
After Celsius (CEL Token), I sold my NEXO stake & CRO. I'll never hold another exchange coin.