NEXO
Reputation Ratings

NEXO

Nexo 5-10 years
Cryptocurrency
Website http://nexo.io
Browser
OTH RELPs
Github
White Paper
NEXO Avg Price
-5.14%
1D

$ 1.1648 USD

$ 1.1648 USD

Market Cap

$ 777.728 million USD

$ 777.728m USD

24h trading volume

$ 13.117 million USD

$ 13.117m USD

7d Vol

$ 73.959 million USD

$ 73.959m USD

Circulating supply

646.145 million NEXO

Related information

Issue Time

2018-05-01

Platform pertained to

--

Current price

$1.1648USD

Market Cap

$777.728mUSD

Volume of Transaction

24h

$13.117mUSD

Circulating supply

646.145mNEXO

Volume of Transaction

7d

$73.959mUSD

Change

24h

-5.14%

Number of Markets

141

Github Messages

More

Warehouse

None

Github's IP Address

[Copy]

Codebase Size

1

Last Updated Time

2020-03-10 20:40:31

Language Involved

--

Agreement

--

Token conversion

BTC
LTC
XRP
DASH
XMR
XLM
USDT
XEM
ETH
WAVES
ETC
NEO
ZEC
MIOTA
EOS
BCH
BNB
TRX
LINK
ADA
XTZ
REV
FIL
THETA
ZIL
HT
SNX
CEL
VET
INO
CRD
USDC
BSV
CRO
WBTC
ATOM
LEO
BUSD
DAI
HEX
XT
CCXX
IZE
YFI
DOT
UNI
AAVE
DYDX
/
USD
AUD
BRL
CAD
CHF
CLP
CNY
CZK
DKK
EUR
GBP
HKD
HUF
IDR
ILS
INR
JPY
KRW
MXN
MYR
NOK
NZD
PHP
PKR
PLN
RUB
SEK
SGD
THB
TRY
TWD
ZAR
AED
BGN
HRK
MUR
RON
ISK
NGN
COP
ARS
PEN
VND
UAH
BOB
ALL
AMD
AZN
BAM
BDT
BHD
BMD
BYN
CRC
CUP
DOP
DZD
EGP
GEL
GHS
GTQ
HNL
IQD
IRR
JMD
JOD
KES
KGS
KHR
KWD
KZT
LBP
LKR
MAD
MDL
MKD
MMK
MNT
NAD
NIO
NPR
OMR
PAB
QAR
RSD
SAR
SSP
TND
TTD
UGX
UYU
UZS
VES

Current Rate0

Available

0.00USD

Calculate

WikiBit Risk Alerts

1
Previous Detection 2024-11-15

The number of the negative comments received by WikiBit have reached 4 for this token in the past 3 months, please be aware of the risk!

NEXO Price Chart

Introduction

Markets

3H

-3.4%

1D

-5.14%

1W

+12.76%

1M

+10.25%

1Y

+54.33%

All

+735.69%

AspectInformation
Short NameNEXO
Full NameNEXO Token
Founded Year2018
Main FoundersKosta Kantchev, Kalin Metodiev, Antoni Trenchev
Support ExchangesBinance, Bitstamp, Bitget, Uniswap, Bitfinex, Gateio etc.
Storage WalletMetaMask, Coinbase Wallet

Overview of NEXO

NEXO is a blockchain-based platform that offers crypto-backed loans and high-interest savings accounts. It's the native utility token of the NEXO platform and is used within the NEXO ecosystem to perform various functions including but not limited to interest payments on loans, dividends for token holders, and a means of payment for platform services. The DeFi token was launched in 2018 by founders Kosta Kantchev, Kalin Metodiev, and Antoni Trenchev. NEXO is listed on several cryptocurrency exchanges such as HitBTC, Bancor Network, and Hotbit, among others.

NEXO's homepage

Pros and Cons

ProsCons
Utility within the NEXO platformDependence on NEXO platform's performance
Offers potential dividends to holdersDividends are not guaranteed
Used for interest payments on NEXO loansFluctuations in value can impact loan repayments
Listed on various exchangesRisks associated with digital asset storage

What Makes NEXO Unique?

NEXO brings a unique element to the cryptocurrency world in the form of its lending platform, which allows users to secure instant loans by using their crypto-assets as collateral. This serves to create a bridge between traditional finance and the crypto space, enabling users to readily leverage their crypto assets without selling them.

Unlike standard utility tokens, NEXO provides the potential of periodic dividends to its token holders, subject to the success and profitability of the platform. This added opportunity for income generation further distinguishes NEXO from many other cryptocurrencies.

Additionally, within its native ecosystem, NEXO has a specific and crucial function of paying the interest on loans. This gives NEXO a degree of intrinsic value and direct utility that not all cryptocurrencies possess.

unique.png

How Does NEXO Work?

NEXO operates as a blockchain-based platform offering financial services such as crypto-backed loans and high-interest savings accounts. It uses blockchain technology for transparent, secure, and fast transactions.

In terms of its lending service, NEXO allows users to secure instant loans by using their cryptocurrency as collateral. The process typically involves a user depositing their cryptocurrency into a NEXO account, at which point the platform automatically calculates the loan limit based on the market value of the deposited crypto. Users can then instantly withdraw loan funds in fiat currencies to their bank account or in stablecoins to their crypto wallet. Interest on these loans can be paid off using the NEXO token.

NEXO also offers high-yield interest accounts where users can earn interest by depositing cryptocurrency or fiat currency. Interests are paid out daily and users can withdraw their funds at any time without penalties.

The NEXO token itself is used within the NEXO platform for multiple purposes. It is used for transactions, for paying off loan interests, and also for the potential distribution of dividends to tokens holders based on platform's profits.

Exchanges to Buy NEXO

There are several exchanges that support buying NEXO, among them are:

1. Binance: Known for its wide range of cryptocurrencies, Binance offers advanced trading features and liquidity, making it suitable for both new and experienced traders.

1. Create a Binance account:Visit the Binance website and click on the “Register” button. Enter your email address, create a password, and agree to the terms of service.
2. Verify your identity:Binance requires all users to verify their identity to prevent fraud. You can do this by uploading a photo of your government-issued ID.
3. Deposit funds:Binance supports a variety of methods for depositing funds, including bank transfers, credit/debit cards, and third-party payment processors.
4. Choose your purchase method:Choose your purchase method: Binance offers two main methods for buying NEXO: using fiat currency or using another cryptocurrency. If you are using fiat currency, you will need to select your country and choose a payment method. If you are using another cryptocurrency, you will need to transfer the cryptocurrency to your Binance wallet.
5. Place your order:Once you have chosen your purchase method and entered the amount of NEXO you want to buy, you can place your order.
6. Store your NEXO:Once your order is complete, your NEXO will be deposited into your Binance wallet. You can either store your NEXO in your Binance wallet or withdraw it to a personal wallet.

Buying Link: https://www.binance.com/en/how-to-buy/nexo

2. Gate.io: Offering a mix of cryptocurrencies, including some less common ones, Gate.io is recommended for those looking for a wide variety of crypto assets to trade.

1. Create/Gate.io AccountSign up or log in to your Gate.io account. If new, create an account; if existing, log in.
2. KYC & Security VerificationComplete KYC and security verification on Gate.io to ensure a secure trading experience.
3. Choose Purchase MethodSelect your preferred method to buy NEXO - Spot Trading, Onchain Deposit, GateCode Deposit, or Others.
4. Spot Trading for NEXOExecute a spot trade on desktop or mobile. Buy NEXO at market price or preset a desired buy price for the NEXO/USDT currency pair.
5. Purchase SuccessfulAfter completing the transaction, your NEXO is now in your wallet. If any issues arise, visit the Help Centre or contact customer service via live chat.

Buying Link: https://www.gate.io/how-to-buy/nexo-nexo

3. Bitget: Bitget caters to both spot and futures traders, offering a variety of trading pairs and features that are ideal for those interested in more sophisticated trading strategies.

4. Uniswap: As one of the leading decentralized exchanges on the Ethereum network, Uniswap is highly recommended for those seeking to trade directly from their wallets, bypassing the need for centralized intermediaries.

Exchanges to Buy NEXO

How to Store NEXO?

NEXO is a cryptocurrency that can be stored in two wallets:

MetaMask: MetaMask is a popular non-custodial software wallet that can be used to store NEXO and other ERC-20 tokens. It is available as a browser extension and a mobile app.

Coinbase Wallet: Coinbase Wallet is another popular non-custodial software wallet that can be used to store NEXO. It is available as a mobile app.

How to Store NEXO?

Is It Safe?

Nexo, a cryptocurrency platform offering lending, borrowing, and exchange services, employs various security measures to protect user assets. These measures include two-factor authentication (2FA) via SMS, email, or an authenticator app, biometric identification using fingerprint or face recognition, and offline storage of cryptocurrency assets. While Nexo has faced security challenges, such as a cyberattack in 2022 that resulted in the loss of $11 million in cryptocurrency, it maintains a strong track record of security and is generally considered a reliable platform for cryptocurrency storage and investment.

Is It Safe?

How to Earn NEXO Coins?

There are three main ways to earn NEXO tokens:

- Holding NEXO tokens: Simply holding NEXO tokens in your Nexo wallet will earn you a daily interest payment of up to 10%. You can choose to receive your interest payments in NEXO tokens or in Bitcoin (BTC).

- Borrowing NEXO tokens: You can also earn NEXO tokens by borrowing NEXO tokens from Nexo and using them to purchase other cryptocurrencies. You will earn a loyalty reward of up to 2% in NEXO tokens on your outstanding loan balance.

- Referring friends: You can also earn NEXO tokens by referring friends to Nexo. You will earn $25 in NEXO tokens for each friend you refer who deposits at least $100 worth of assets into their Nexo wallet.

FAQs

Q: Does the value of NEXO fluctuate?

A: Yes, similar to all cryptocurrencies, the value of NEXO can fluctuate due to several factors, including but not limited to the performance of the NEXO platform and overall market conditions.

Q: What differentiates NEXO from other cryptocurrencies?

A: NEXO differentiates from other cryptocurrencies by its integral function within the NEXO financial platform, its potential to offer a dividends stream, and its role in facilitating loan interest payments within its ecosystem.

Q: How to store NEXO?

A: NEXO can be stored on MetaMask and Coinbase Wallet.

Q: How is the circulating supply of NEXO managed?

A: The circulating supply of NEXO fluctuates due to factors like transactions, tokens locked as loan collateral, and operational reserves, and can be verified through cryptocurrency databases and the NEXO platform.

User Reviews

More

13 ratings

Participate in evaluation
zeally
Nexo provides services such as crypto-backed loans, high-yield savings accounts, and an instant credit line.
2023-12-20 06:46
5
leofrost
Nexo is a platform that provides crypto lending services. Nexo's native token, NEXO, plays a central role in the ecosystem. Token holders receive dividends from the platform's profits, enjoy enhanced features, and can use NEXO as collateral for loans. The platform's instant loans backed by crypto assets, interest-bearing accounts, and the ability to earn interest on stablecoins contribute to its appeal. Monitoring Nexo's partnerships, security measures, and the overall growth of the crypto lending sector can provide valuable insights into the ongoing significance of NEXO.
2023-11-30 04:13
8
Windowlight
Nexo's lending platform, backed by cryptocurrency, provides users with the ability to access instant loans, adding a practical financial dimension to the cryptocurrency space.
2023-12-22 02:05
7
Jenny8248
It has a stable performance, backed by a successful platform and dividends for token holders.
2023-12-04 19:18
8
Dazzling Dust
Nexo has diversified its service offerings across multiple digital asset verticals, culminating in the development of a comprehensive, all-encompassing product suite designed for the holistic management of cryptocurrencies.
2023-11-24 15:14
4
Lala27
Nexo is a good fit for both beginners and intermediate crypto investors, but it has verifed that this exchange currently has no valid regulations. Beware ⚠️
2023-10-22 14:19
9
FX2853649102
This person Beyhan is scamming people on telegram pretending that he is an agent of NEXO he is using this company name to collect people Bitcoins to offered them . “license” so that they can write a story about NEXO and the opportunity to post thier story on the company’s website, some The details weren’t exactly clear, but I strung him along for kicks, as one might do with . So he asked to pay for about 0.23 bitcoin for for company fees which is a lie below are the screenshot profs.
2021-08-02 05:57
0
peter945
The withdrawal has not been credited to the account. For nearly a month, the two withdrawal applications were made April 5 and 10 respectively, but both of them were not credited till now.
2021-05-02 22:56
0
邱智能
My friend withdrew two sums of ETH from NEXO and it has not been credited to the account till today.NEXO
2021-05-02 22:06
0
Scarletc
the regulations is poor They barely attend to withdrawals.😏
2023-11-03 19:32
5
N4r4kyu
Good project
2022-12-08 14:45
0
Windowlight
Nexo is a cryptocurrency lending platform that offers a wide range of financial services, including loans and interest-bearing accounts. It's known for its user-friendly interface and security features. However, like all lending and finance-related services, it's essential to carefully consider the terms and risks associated with using Nexo for your financial needs.
2023-11-07 02:51
2
Windowlight
Nexo is a cryptocurrency lending platform that offers a wide range of financial services, including loans and interest-bearing accounts. It's known for its user-friendly interface and security features. However, like all lending and finance-related services, it's essential to carefully consider the terms and risks associated with using Nexo for your financial needs.
2023-11-07 02:51
3

News

TokenNexo App: the platform to earn and lend crypto

The Nexo appis an innovative platform that combines the functionalities of centralized finance (CeFi

2024-11-03 18:14

Nexo App: the platform to earn and lend crypto

TokenLATAM Crypto Roundup: Nexo Joins Colombia Fintech Association, Worldcoin Expands to Guatemala, and More

Latin America (LATAM) continues to assert its growing importance in the global crypto ecosystem. In

2024-09-29 12:24

LATAM Crypto Roundup: Nexo Joins Colombia Fintech Association, Worldcoin Expands to Guatemala, and More

TokenHow Ferraris embrace of crypto payments is a game-changer for Nexo (NEXO)

In a promising development for the cryptocurrency sector, Ferraris announcement to introduce crypto

2024-07-25 04:04

How Ferraris embrace of crypto payments is a game-changer for Nexo (NEXO)

TokenNGD deploys NEXO multi-sig utility tool for Neo N3

Neo Global Development has developed a new multi-signature utility for Neo N3 named NEXO. Multi-sign

2024-05-07 01:46

NGD deploys NEXO multi-sig utility tool for Neo N3

TokenNexo Secures Initial License for Dubai Operation

Nexo, a digital asset service provider, has successfully obtained initial approval from the Virtual

2024-03-06 04:03

Nexo Secures Initial License for Dubai Operation

ExchangeCrypto Lender Nexo Receives Initial Approval for Dubai License from VARA

Dubais Virtual Assets Regulatory Authority (VARA) has awarded a virtual asset service provider (VASP

2024-03-05 22:01

Crypto Lender Nexo Receives Initial Approval for Dubai License from VARA

IndustryTexas State Securities Board Takes Enforcement Action Against Crypto Firm Abra and CEO Bill Barhydt – Whats Going On?

The Texas State Securities Board has issued an emergency cease-and-desist order against crypto lender Abra, claiming that it has been insolvent since at least March 31, 2023.

2023-06-14 05:11

Texas State Securities Board Takes Enforcement Action Against Crypto Firm Abra and CEO Bill Barhydt – Whats Going On?

IndustryNavigating the Crypto Card Landscape Amid Regulatory Challenges

Let's delve into the most commonly used cards in the crypto space to find out.

2023-06-14 05:11

Navigating the Crypto Card Landscape Amid Regulatory Challenges

IndustryBinance Opens Regulated Crypto Platform in Kazakhstan Amid Regulatory Challenges in the West

Binance has launched a regulated cryptocurrency exchange in Kazakhstan amid growing regulatory troubles in the West.

2023-06-06 15:20

Binance Opens Regulated Crypto Platform in Kazakhstan Amid Regulatory Challenges in the West
View More