Nexo: Too good to be true?

vanessahampton (56)in #cryptocurrency • 8 years ago (edited)

Too good to be true?

When I was growing up, my mother’s favorite saying was: ‘if something is too good to be true, then it probably is. With regards to Nexo, I would modify this to-- If something is too good to be true, maybe it’s just good enough to be true.

Meet Nexo

Nexo is the first instant crypto overdraft. Yes, you heard that right. It is a never before heard of innovative approach to lending in the cryptocurrency world. Clients do not need to sell their cryptocurrencies for immediate cash they need on the go when they can get an instant overdraft through Nexo and save their cryptocurrencies as the value of coins continue to change.

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Long before this, with the controversy and uncertainty trailing cryptocurrency, they had never been a convenient way for cryptocurrency miners, investors, gamers and virtual reality users, cryptocurrency exchanges, hedge funds and ICO and crypto companies to leverage on the value of their coins without selling them. Now, rather than selling off their valuable crypto assets, they can withdraw an overdraft from Nexo instead without cumbersome exchange fees or credit checks.

It does sound too good to be true.

Not when you learn that Nexo is backed by Credissmo, a top FinTech group. With more than a hundred and thirty employees and a staggering millions loan applications under her belt, Credissmo was founded in 2007 and with her best practices caught the eyes and approval of the financial regulatory community and recognition from top companies all over the globe.
A decade-old financial institution, Credissmo uses her best business practices and innovative technology to provide instant online customer loans, bill payments, and e-commerce financing services anywhere in the world.

How will Nexo change how cryptocurrency users access their funds?

Automatic, reliable and transparent, the crypto overdraft offered by Nexo will completely revolutionize the crypto digital world because it is an option we never saw coming but one we desperately need. With an encrypted wallet based on the blockchain technology and an automated system, it is fraud proof.

"Over the past ten years, we have been providing instant loans to millions of people across Europe. We believe that the expanding digital world helps improve our lives. We would like to contribute by providing the World’s First Instant Crypto Overdraft: Nexo-- enjoy your crypto wealth today without selling your assets!"

Nexo’s Mission statement.
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Competitive advantage

Nexo exerts the following competitive advantage over other lending platforms.

• An immediate access to cash.

• The customer retains ownership of his or her asset.

• Should the value of the cryptocurrency appreciate during the process, the cash equivalent of the value appreciation is made available to the customer.

• Nexo charge no exchange fees, making it a better bet than traditional cryptocurrency exchanges.

• There are no tax liabilities and little risk attached.

• The free Nexo credit card makes spending easier by making cash available on the go.

• Unlike their competitors who might require more tangible assets, cryptocurrency and tokenized assets can be used as a basis for obtaining overdraft.

How do they propose to carry out this seemingly far-fetched idea?

Nexo Oracle

This is the innovative technology that drives the instant crypto overdraft that is Nexo. This platform enables Nexo to offer crypto overdraft to customers as well as arrange their convenient repayment plans.

The Nexo Token

Reliance on their best practices and with approval from the United States Security and Exchange Commission, the Nexo Token was born. With this Token, customers can embark on discounted repayments plans comfortably and transparently. By storing their Nexo Tokens in their crypto overdraft wallets, customers can benefit from the accumulated discounted interest.

The Nexo Credit Card

The Nexo Credit Card provides a convenient access to instant cash for customers. With different repayment plans in place through the free Nexo Credit Card, the client is free to choose the most convenient means of repayment. Powered by the latest technology, clients are also assured of the tightest security measures. Card and wallet encryption, round the clock fraud monitoring and customer assistance provides an unparalleled user experience for the customer.

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Illustration
Let’s assume a customer, Sarah has two bitcoins in her cryptocurrency wallet and she needs instant fiat currency to pay her bills. Usually, the only option available to Sarah would be to sell her immensely valuable crypto assets. With the highly volatile cryptocurrency market, Sarah is well aware of the risk of selling off too soon, but she has no choice.

Here enters Nexo.

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Rather than lose ownership of her considerable cryptocurrency assets by selling, Sarah can transfer her two bitcoins to the Nexo instant overdraft wallet. Upon reception, the Nexo Oracle then sets up the overdraft.
The instant overdraft could be in Euros or USD. This is then sent to either her Nexo Credit Card or through bank transfer to her bank account.
The overdraft limit made available to Sarah is directly proportional to the crytocurrency assets owned by Sarah and transferred to the overdraft wallet.
Sarah can make repayments on the overdraft at her leisure in different ways-- through fiat currency, cryptocurrency or Nexo Token. The repayment through Nexo Token offers more flexibility to the customer because of the discounted interest rates.
To make repayment options even easier for customers, Nexo also allows customers to make repayment by selling off some portion of their cryptocurrency assets in the overdraft wallet if they so choose. Unlike most loan repayments, Nexo do not exert compulsory monthly payments from their customers on the condition that their withdrawal never exceeds the overdraft limit.
Sarah can then withdraw her cryptocurrency from the overdraft wallet.

The team behind Nexo

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What are the benefits of being able to overdraft against cryptocurrencies in order to have instant liquidity?

Rather than jumping through the hoops involved in trading cryptocurrency assets for cash, Nexo provides cryptocurrency investors, miners and all cryptocurrency users an Instant access to cash.
With Nexo providing an Instant overdraft directly proportional to the cryptocurrency value in the overdraft wallet, customers are able to retain ownership of their cryptocurrency assets while having cash to spend.
Compared to the fees required for cryptocurrency exchange, Nexo makes cash readily available to her customers at minimal cost.
There are none of the credit checks required during loan application.
Nexo is backed by Credissmo whose best practices in business dealings are trustworthy and transparent.
This innovative business idea on which Nexo is based will enable cryptocurrency users to leverage on and maximize the value of their digital assets.

How will this affect cryptocurrency spending?

Nexo Crypto Instant Overdraft will erase the line between owning cyrptocurrency and the hassle involved in exchanging to fiat currency and paying the commissions involved while enabling customers to retain the value of their cryptocurrency assets should they wish to hold on to it.
With customers able to hold on to their digital assets, they can maximize the value of their cryptocurrency against the changing market.

The advantage of having instant access to cash while leveraging on their digital assets without losing them at minimal cost enables the customer to avoid the many fees and loops tied to exchanging their cryptocurrency for fiat currency.
In addition, many customers do not find it convenient to spend their cryptocurrency due to the complicated exchanges and checks involved. Nexo eliminates these difficulties while making cash available for its users.
Nexo Instant Crypto Overdraft affords a unique advantage to customers, giving them access to cash so they can hold on to and harness the value of their cryptocurrency assets. As farfetched at it may sound, Nexo is making it happen. Backed by the renowned financial instution, Credissmo and a team of experienced advisors, Nexo has the innovative technology and the manpower to make the Crypto Instant Overdraft more than good enough that it becomes true.

Nexo Token Terms

Rather than solicit funding, Nexo intends to raise their capital by allowing its advocates participate in a token sale. Unlike the usual token, the Nexo token is made public by renowned FinTech group, token holders are entitled to 30% of the profits, follows strict rules of the United States security and exchange commission and that of European Banking and Financial Services.

TOKEN SALE: 6 MAR – 1 APR

Token type: ERC20
ICO Token Price: 1 NEXO = 0.1000 USD
Fundraising Goal: 50,000,000 USD Sold on pre-sale: 15% BONUS
Total Tokens: 750,000,000
Available for Token Sale: 70%

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