Nexo Instant Loans Backed by Cryptocurrency. Innovative technology at the heart of digital currency.
2020-01-04 00:00:00:
The development of the Nexo platform began in 2007. Then four businessmen created the Credissimo platform, designed to quickly issue loans online. The Nexo domain was officially registered in January 2018, and the White Paper was written for the period 01.2018 - 02.2019.
The development of a digital service has gone through several stages:
2007 - the emergence of the company and the organization of the first credit services;
2010 - transition of the service to automatic operation and the possibility of issuing loans around the clock;
2013 - development for mobile platforms with fast modernization of application processing;
2014 - entering the stock market with the placement of valuable assets;
2015 - improvement of technology for automatic issuance of credit services;
2016 - Added the ability to repay borrowed funds with Bitcoin coins.
The Nexo token has been traded on several decentralized exchanges since May 2018. Even then, in terms of market capitalization, the digital asset entered the Top. Users were attracted by the opportunity to hold the cryptocurrency and receive dividend payments for this, as well as the subject of its pledge. Among cryptocurrency startups, this was an innovation.
Many years after the appearance of the Nexo crypto project, developers are not ignoring the issue of its development. New ideologies and technologies continue to be introduced to this day. Increasing lending limits, creating a crypto wallet for mobile devices, and conducting additional airdrops are just some of the plans that will be implemented in the near future.
About Nexo project
The Nexo cryptocurrency was developed for custom lending. You can receive fiat funds on the security of cryptocoins. This scheme allows you to reduce the risk of losing money to zero. The user is provided with a credit card for this, which helps to carry out payments in the usual way.
The innovative technology at the heart of the Nexo cryptocurrency provides:
convenient payment of bills;
instant issuance of consumer loans;
financing the digital sector;
transparency of operations for all parties.
The eponymous Nexo token operates on the credit platform. The ecosystem is controlled by an algorithm through the Nexo Oracle module. An automated infrastructure has been formed inside that can process large amounts of data. You can carry out in the system both daily transactions and apply there once a month.
Using the capabilities of the platform, crypto coin holders receive:
credit discounts;
additional income in the form of interest.
In the cryptocurrency market, the Nexo token has implemented the opportunity to receive short-term overdrafts. Clients do not have any difficulties with settlements - they can get the necessary loan on the "right now" principle. The system stores a sufficient number of assets that do not need to be accumulated or used within a narrow framework.
Transfer of funds in the Nexo system is organized according to a simple principle. Any users will be able to understand the interface. All lending processes are closely monitored by the Nexo oracles. Compared to banking offers, the cryptocurrency service is more flexible and able to instill confidence with the protection and insurance of assets.
The Nexo digital asset ecosystem solves a number of problems:
no credit checks - instant turnover of funds ensures overdraft;
retention of ownership - users do not feel the need to sell coins that they own 100%;
the formation of rates on deposits - fast transfer of cryptocurrency to wallets removes intermediary operations;
no tax and commission fees - the use of crypto assets does not entail additional obligations;
transparency of operations - due to blockchain technologies it is possible to solve this problem that arose when using digital assets.
Nexo tokens can be used by unqualified investors and contributors who first became interested in the system. The platform is unique in that it provides both the opportunity to borrow and passive income. Assets are supported by a high level of security and are protected by the main clauses of legislative acts.
Anyone can use the Nexo cryptocurrency. There are several different programs that open up access to assets. Compared to bank deposits, these coins are insured and available at any time. You can manage your funds yourself by simply registering in the system.
To use the services, a standard action plan is required from the user. You can register in the digital system without any fees or other restrictions. The opportunities for the participants in the crypto project grow along with the growth of the amounts that are in the accounts turnover. You can work with the Nexo platform regardless of your credit potential.
Nexo features
Crypto project Nexo develops secured lending. In addition to the possibilities of using internal cryptocurrency, the user gets fast transactions on the network and high security. The developed system avoids the need to sell any digital asset that can be used as a permanent loan.
Unlike conventional lending platforms, Nexo is different:
instant lending;
reliable digital capability;
the ability to repay borrowed funds at any time;
use of insured accounts;
convenient functionality;
a decentralized shell on the blockchain;
safe structure.
The system guarantees the issuance of loans, including for large amounts. Flexible rates are offered, there are no checks, and instant loans are issued. The Nexo service is completely secure, so investors, traders and other market participants can apply for its services.
Nexo tokens are not only a source of dividends, but also a means of repaying loans or reducing interest. In a growing economy, the value of a cryptoasset is understood by all users. Thanks to the application of the concept of traditional lending, the cryptocurrency remains stable and popular.
Two types of verification open up wide opportunities for users: basic and advanced. This approach is bypassed by privacy lovers who are better off choosing a different type of cryptocurrency.
Nexo tokens are characterized by the following features:
increase in overdraft limits - you can count on instant financing, taking into account the given value of coins;
discounts - discounts are provided for token holders on loans.
Nexo is a marketplace that provides loans to users. It has come a long way from a regular online loan service to a secure digital system. The safety of all user funds is guaranteed. The site operates in different countries, including the CIS.
The appearance of Nexo coins significantly influenced the independence of the cryptocurrency sphere. There are not so many honest and decentralized sites in this direction. The risks and chances of losing money are present to this day, but the unique Nexo lending platform was able to reduce them to zero.
For the convenience of customers, a card was provided for the accrual of funds. You can store Nexo coins in a special wallet, where they will be completely safe.
How is Nexo created?
The Nexo cryptocurrency was created during the ICO by the leading financial group FinTech. In total, 750,000,000 tokens were generated, of which 70% went for sale.
The Nexo crypto coin is based on the functional type of the ERC-20 marker. Token holders, as in the case of promotions, benefit from different discounts.
The Nexo cryptocurrency does not function according to the classical principles of the cryptocurrency world. The level of user confidence in the system is high, as many have become convinced of the safety of their investments.
Is Nexo endless?
Nexo belongs to the first crypto project in the world that aims to provide overdrafts. The Credissimo company has been promoting innovative technology since 2007.
Nexo can be considered an endless crypto asset conditionally. Over the years of its existence, the token has not undergone significant crises due to the implementation of effective business schemes. No mining is used to generate it, so there are no disadvantages inherent in this system in digital technology.
Nexos infinity is temporary. Until the moment there is demand for short-term projects, the token will live. Volatility has become a negative factor in the development of cryptocurrency, which creates some risks for lenders.
Nexo strengths
The Nexo platform is distinguished by a well-thought-out security system - two-factor authentication is provided. To use the service, you need to create an account and follow all the requirements of the ecosystem. The user can transfer cryptocurrency to his personal balance and receive fiat funds as collateral.
The advantages of Nexo cryptocurrency are as follows:
has a long history;
has a high safety record;
easily integrates with other assets or fiat;
not subject to taxes;
offers loyal conditions to coin holders;
features secure encryption;
is the leader in instant loans;
complies with global AML and KYC standards;
all crypto assets are insured;
ease of use of the site.
In the Nexo system, the user can choose his credit limit. The platform works without delays, since it is based on an automatic mechanism. There are no hidden fees or impracticable conditions when receiving borrowed funds. Money is transferred with minimal interest, regardless of the users level of crediting.
The Nexo token is supported not only by a security token, but also by useful functions. The underlying overdraft assets are available to all crypto coin holders. The way the system works is pretty straightforward. The platform has a model that simultaneously opens up access to cash and digital assets.
Nexo attracts new members with a generous incentive program - up to 30% of the profit is paid to investors. To participate in the project, some restrictions were introduced for citizens of China and Pakistan.
Nexo in TOP currencies
Nexo cryptocurrency is included in the TOP-100. It is gaining popularity in many countries of the world and is widely distributed in social networks. The virtual currency is one of the first to comply with the US SEC standard.
The digital token Nexo has existed in the financial sector for several years. His successful work was appreciated by various experts. The underlying assets of the loan portfolio are in a stable position, as the platform operates on the basis of a leading financial and technical group.
To understand the value of the Nexo cryptocurrency, you do not need to study for a long time the algorithm of its operation and its advantages over other assets. Knowing the minimum about the lending platform, you can see its prospects and importance in the economy. With the funds used, you can earn dividends or arrange a loan without long paperwork. Finances are protected and insured - even large banks cannot offer this. For these reasons, more and more stakeholders are starting to use Nexo tokens.
In instant loans, Nexo cryptocurrency is in the forefront. It represents a completely safe platform for finance, where you can receive both passive income and borrow. In terms of capitalization, the coin is in the TOP-100 and occupies the 75th place, which once again confirms its prospects.
The innovative solutions of the Nexo system made it possible to remove many shortcomings in the field of lending. The cryptocurrency has independence from third parties, so most users recognized it immediately after its appearance. After 2-3 years, coins began to be used for daily transactions. Clients of the system positively assessed the level of credit secured by Nexo tokens.