THE NEW BANKING SCHEME: NEXO.IO|THE WORLD FIRST INSTANT CRYPTO OVERDRAFT

Have you been in a tight circumstance before, where all you needed to remedy the situation was cash?

Perhaps, you won a visa lottery to the United States and you dont have cash, thinking of how to get right?

Then you thought about your crypto , hell no. I cannot sell off my cryptocurrency ,what about if there is market boom tomorrow?

Hey, i know a way forward, why dont you try Nexo.io the world's first istant crypto overdraft.

WHAT IS NEXO.IO
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Nexo is the leading tech platform powered by credissimo a fintech group for over 10 years of operation. It is quite unfortunate that crypto owners has no alternative to their benefits in investing into cryptocurrency except if they sell out.
The idea behind this technology is to introduce a different face to the crypto community thus; giving the owners of the digital assets a leverage over the circumstances aforementioned. The Nexo oracle operate thus; allows the owners- (digital assets) to retain their ownership over their tokens meanwhile providing them an overdraft in form of instant cash.
While this is possible, the whole process is dependent on the client's digital assets. This overdrafts are completely automatic, flexible and cost-efficient way of obtaining cash.

APPLICATION OF NEXO ORACLE ON THE BLOCKCHAIN

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Let me explain this process in few lines to you, the potential client(s) move their crypto asset to their nexo overdraft wallet meanwhile they must have opened an account with nexo.io. Then the client will be able to access the overdraft

Far beyond this simple process explained above, the well detailed pattern to obtain an overdraft from Nexo.io will be discussed in four category;

CATEGORY 1:

The prospective client(s) will transfer their crypto assets to the Overdraft Wallet, meanwhile they must have a subsisting overdraft wallet with Nexo.io prior to the transfer. Immediately, the relevant blockchain will
confirms for the respective crypto asset are received, the Nexo Oracle automatically calculates the
Overdraft limits and instantly sets up the overdraft against the amount being transfered by the client.

CATEGORY 2:

The Overdraft limit is instantly drawn by bank transfer or available as the free Nexo Credit Card depending on the circumstances and needs, the clients can choose the most suitable way to use their cash, as well as the
currencies in which they would like to receive the funds. The overdraft limit is subject to the market value of
the crypto assets in the Overdraft Wallet, should the cryptocurrency appreciate in value during the market boom, the Nexo Oracle increases the overdraft limit to tally with the current increment in the crypto assets.

CATEGORY 3:

There are several ways to which the clients can repay their flexible overdrafts which are thus – bank transfer, fiat or cryptocurrency, there is a special discount on the interest rates that are granted to those who choose to make payments with NEXO token. A third option is to pay by partial sale of the crypto assets (STEEM, BITCOIN, ETHERIUM etc) with the Nexo overdraft wallet. In addition to the flexible repayment options, Nexo does not require any monthly minimum repayments as long as the outstanding balance is within the available overdraft limit.
Once a repayment is comfirmed by the Nexo Oracle blockchain node, it will records the transaction on the blockchain and instantly updates the overdraft limits.

CATEGORY 4:

If the diigital assets in the wallet tally with the required limits of the outstanding overdraft balance, clients can withdraw part or all exceeding amount at any given time. Once the overdraft is fully repaid, clients can withdraw all the crypto assets in the wallet.

USERS CATEGORY OF NEXO ORACLE

This new age banking base on the blockchain technology is opened to the following users and they are as folows;
1. Crypto Investors

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2. Crypto Miners

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3. Crypto Companies

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4. Crypto Exchanges

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BENEFITS OF NEXO ORACLE

1. QUICK ACCESS TO CASH

Due to the client's limit of digital assets in the overdraft wallet, they have access to instant cash anywhere around the globe, they can seize investment opportunities, and meet liquidity needs promptly. While withdrawing large amounts of cash is more convenient via bank transfers, Nexo’s clients also have the option to use the free credit card for their day-to-day transactions.

2. RETAIN OWNERSHIP

The innovation behind this scheme is that clients retain 100% ownership of their digital assets. By making use of Nexo’s instant crypto overdraft wallet rather than selling, they will be able to keep the entire capital gains and accompanying benefits from market increase via the sales of their digital assets. Nexo’s clients can enjoy their crypto wealth immediately, without having to sell their digital assets.

3. NO COST AND TAX EFFICIENT

Without having to sell their digital assets on exchanges, the digital assets owners do not have to pay any platform charges, transaction fee, or withdrawal fees that could amount to any substantial amounts out of their profits. In futherance, since there is no sale event, there are no taxes that could arise and amount to decrease gains by up to 39%, depending on the seller’s ordinary residency.

4. TRANSPARENT BLOCKCHAIN CONTRACTS

The ownership of digital assets is secured and guaranteed by transparent overdraft contracts, which is stored on the blockchain where it is technologically possible.

#Nexo2018

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