NEXO Token (NEXO): Comprehensive Guide to Crypto Lending, Borrowing, Trading, and Earning

NEXO: Everything You Need to Know

NEXO is the native token of Nexo, a crypto platform that offers multiple financial products and services related to crypto assets, including purchasing, lending, borrowing, trading, and earning interest on holdings. NEXO is an ERC-20 token that runs on the Ethereum blockchain and provides various benefits and privileges to its holders, such as lower interest rates, higher yields, cashback rewards, governance rights, and more. NEXO is also traded on the open market and can be exchanged for other cryptocurrencies or fiat currencies.

How does it work?

NEXO works by providing utility and value to both Nexo users and the broader crypto community. Some of the main use cases of NEXO are:

Lending: Users can lend their crypto assets to Nexo and earn up to 12% interest per year, paid out daily. Users can choose between fixed or flexible terms and withdraw their funds at any time. Users can also earn extra interest by opting to receive their payouts in NEXO tokens instead of their deposited asset.

Borrowing: Users can borrow against their crypto assets at a low interest rate of 5.9% per year, without selling them. Users can choose from over 40 fiat currencies or stablecoins and receive their loan instantly. Users can also enjoy lower interest rates by holding or paying with NEXO tokens.

Trading: Users can buy, sell, or swap over 100 crypto assets with zero fees on the Nexo Exchange. Users can also access aggregated liquidity from leading venues and execute their trades at the best prices and execution.

Earning: Users can earn up to 2% cashback on all purchases made with the Nexo Card, a crypto debit card that allows users to spend their crypto assets anywhere Visa is accepted. Users can also earn dividends from Nexo’s net profit, distributed proportionally to NEXO token holders.

Who are the team behind it?

Nexo was founded in 2018 by a team of experienced finance professionals, namely:

Antoni Trenchev: The co-founder and managing partner of Nexo. He is also a former member of the Bulgarian parliament and a prominent fintech expert.

Kosta Kantchev: The co-founder and executive chairman of Nexo. He is also a co-founder of Credissimo, a leading European fintech company that provides online consumer lending solutions.

Georgi Shulev: The co-founder and managing partner of Nexo. He is also a co-founder and board member of Credissimo and a seasoned entrepreneur and investor.

The Nexo team consists of over 200 professionals from various backgrounds and expertise, such as blockchain development, marketing, business development, legal, compliance, finance, etc. The team is based in London, but also has offices in Sofia, New York City, Singapore etc.

The Nexo team is also supported by several advisors and partners from the crypto industry, such as:

Michael Arrington: The founder of TechCrunch and Arrington XRP Capital, a leading crypto hedge fund.

Trevor Koverko: The founder and CEO of Polymath Network, a security token platform.

Polychain Capital: A leading crypto venture capital firm that invested $52.5 million in Nexo in 2018.

What are the use cases?

NEXO has several use cases for both individual and institutional users in the crypto space. Some of them are:

Saving: Users can use Nexo to save their crypto assets and earn passive income from interest or dividends. Users can also benefit from the security and insurance provided by Nexo for their custodial assets.

Spending: Users can use Nexo to spend their crypto assets without selling them or paying taxes. Users can also enjoy cashback rewards and discounts from using the Nexo Card or paying with NEXO tokens.

Investing: Users can use Nexo to invest in various crypto assets with zero fees or slippage. Users can also leverage their crypto assets to access more capital or opportunities through borrowing or trading.

Hedging: Users can use Nexo to hedge their exposure to price fluctuations or volatility of different crypto assets by swapping them or using them as collateral.