NEXO - The First 'Instant' Overdraft Service for Cryptocurrency

averageoutsider (57)in #cryptocurrency • 7 years ago (edited)

Do you need instant access to cash from your crypto holdings, without having to 'sell'...? Nexo has you covered with the worlds first crypto overdraft service.

As a cryptocurrency investor, you will never need to liquidate a portion of that investment in order to acquire cash. With a Nexo overdraft account, you can draw immediate cash using any liquidable, cryptocurrency asset as collateral. In this way, your stake in a particular coin or token is never diminished, by having to sell before ready.

Additionally, a Nexo account allows you to draw funds by way of a bank transfer, or simply by using the provided Nexo credit card. All this without concern for hidden fees, credit checks, taxes or exchange fees...making it easy for you to calculate capital expenditure at a glance.

How Nexo Works (The Overdraft Wallet)

Simply deposit any amount of cryptocurrency into your Nexo wallet for safe storage. You instantly have access to cash from overdraft funds based upon current market value.

Repay when ready, through a bank transfer of fiat currency, or by cryptocurrency...it's your choice. Alternately, you can opt to pay using a portion of the balance in your Nexo wallet.

Better yet, should you choose to repay with Nexo tokens, you are afforded a discounted interest fee rate; another big plus for Nexo users and investors. Nexo overdraft wallet provides an easy and quick solution for maintaining better control over your crpto holdings.

The Nexo overdraft withdrawal and repayment system has Oracle technology at its core...The real-time data communication between various components, provides optimum efficiency managing the smart contracts. Transparency is also at the heart of Nexo overdraft transactions.

Nexo's Interesting History

Nexo is powered by Credissimo, which was founded in 2007. Credissimo has over 130 employees, and has processed over 1,000,000 loan applications. Credissimo adheres to the highest regulatory requirements and has been strictly
supervised by multiple European Banking and Financial Services Regulators since 2007.

Credissimo has received several awards over the years from companies such as Forbes and Ernst & Young, while also reaching Top 10 in Alternative Finance at the European FinTech Awards 2017.

See The Credissimo Statistics Below

So, as you can see, Nexo has a rich history behind it and many years of successful operations, with Credissimo at it's root. Here is a list of cryptocurrency clients provided by Nexo for further examination.

Cryptocurrency investors can receive immediate funding based on the market value of their Bitcoin, Ethereum or other liquid cryptocurrencies, tokenized assets or utility tokens.
Hedge Funds that are holding ICO tokens, cryptocurrencies or any of the multitude of other digital assets will be able to receive instant overdrafts to take new positions in their investments.
ICOs and cryptocurrency based companies can instantly access working capital and meet their immediate financial needs by using Nexo instant crypto overdraft. This will ensure that their operating costs are met on time.
Cryptocurrency miners incur many costs to continue their operations, such as maintaining the necessary computing power in order to deal with the increasing difficulties. Instead of having to liquidate their holdings, they will be able to use overdrafts to cover their growing costs while keeping their cryptocurrencies. Cryptocurrency Exchanges require liquidity to finance margin lending as well as trading services. They can use Nexo to meet their financial demands to support these services.
Gamers and Virtual Reality Users There is a massive gaming and VR industry populated with 2.2 billion people and with in-game trades amounting to over $50 billion. Nexo will continue to increase support of digital assets. This will translate into the ability to take overdrafts on in-game items without having to sell the items.

How Nexo Can Benefit You

Perhaps one day an unexpected emergency arrives, like a sudden leaky roof after a major rain storm. You discover that many of the old, brittle roofing tiles on your home have broken away and carried into the wind. After contacting a few roofing companies to come and inspect the damage, you learn that you'll need an entire new replacement...not just a small repair.

The lowest bid that you receive for the project exceeds what available funds you have sitting in your bank account. Your home insurer sent an inspector out to your property to assess the cost of repair, and the insurance company agreed to only pay a portion of the lowest contractors estimate. You will need to pay the balance.

Fortunately you have been quite successful in the cryptocurrency marketplace with more than enough assets in your portfolio to cover the expense, but you really don't want to weaken your position in the market at this time. The value of your coins and tokens have not reached the level at which you feel comfortable taking profits.

Here comes Nexo to the rescue with their overdraft wallet fund...You are able to draw immediate cash from Nexo using your crypto assets as collateral, thereby allowing you to hold all the cryptocurrency on deposit in your Nexo wallet. You get the funds to fix your roof, while at the same time being able to hold your stake in any coin or token growing your portfolio.