Nexo Loans, Income Can Be a Life-Changing Opportunity

Introduction

Once, a long long time ago in a galaxy far far away, I let my employer know that crypto payments are much preferred over traditional fiat because, given the choice, I'm much more able to save crypto long-term while my burning immediate desires (Ou! A new TV! Ou! A new phone! Ou! Some fancy meal!) will always burn a hole in funds I have in my bank account.

Even then, there's a good chance that I'll use some of the readily available crypto-to-fiat gateways that exist in order to 'cash out' well in advance of moon.

Enter Nexo

With Nexo, I can deposit some of my favorite crypto (BTC, ETH, LTC, etc) and immediately qualify for a loan on that crypto - in the case of more liquid, higher-CMC ranking coins, 50% of the value of the crypto. I withdraw these funds as stablecoins or via bank wire, and my risked amount stays locked on the platform. Normally I would be risk averse to this, given failures like Mt Gox or any other unregulated crypto exchanges, but Nexo has insured their holdings up to $100 million dollars in verifiably fair contracts :)

My risked amount then has the opportunity to grow in market value as the underlying cryptos moon, allowing me more borrowing ability or the joy from being able to spend half my weekly crypto earnings while saving the other half long-term to experience moon.

What's better? Say I don't have the immediate need to spend any of my crypto, I can keep it on the platform. In a coming release, they're adding BTC and ETH and possibly other coins to their list of stablecoins that actually generate daily compounding interest - meaning that I can earn 6.5% on my insured crypto holdings, indefinitely.

The rub? Should I need the funds and take the loan (which, in all fairness, is a more likely eventuality once they have their Nexo card released in the near future) - I pay 8% APR in interest on that if I pay in Nexo tokens or up to 16% APR if I pay in other ways. This is where they really shine.. there's no schedule and no minimum payments on borrowed funds, the interest is just taken off the top on your available balance and locked funds. This means that if you're long BTC, ETH anyways - and figure it will sustain more than 8-16% APR in growth a year - you've honestly just found free money by taking out loans against your insured holdings on their platform, experiencing your moon's worth of explosive growth while also spending up to half your holdings as liquid funds.

It's the best of a few worlds - and if you can spend anything less than your available maximum and eventually they release income on the rest of the coins, you'll experience what Einstein promised:

“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”