Nexo: First overdraft in cyptocurrencies

Potential of growth

Cryptocurrencies is becoming more popular in everyday. According to blockchain wallet statistic early 2016 blockchain wallet users was around 5 million but currently it's up to 500% + and wallet users become 23 million. this is showing us bitcoin and cryptocurrencies fastest growing potential. People are getting more and more interested in cryptocurrencies and involved with their own way.

In 2017 bitcoin hit all time high $20k. This helps a lot for bitcoin to become more popular asset around the world. And i believe cryptocurrencies have great future, personally want to see we can use cryptocurrencies for everyday our life like buying or selling products using cryptocurrencies and paying our taxes or bills, i think it's not that far as we thought.

What is nexo overdraft ?

Nexo overdraft is little bit similar to lending platform but it's way different than lending platform.

So how it work ?

For example: You are daily trader but you need some urgent cash with some reason then problem is you don't want to exchange your cryptocurrencies now because price will show up trend soon .

Then here comes Nexo overdraft you can get cash easily with their platform but what you need to do is send cryptocurrencies to your overdraft wallet. And they will lend you flat money you won't need to exchange your coins, all you need to do is pay some monthly interest.

Important thing here is you need to send at least 2.15x money to your overdarft wallet but it's not fixed their system will calculate how much cryptocurrencies you need to send. For example: you need 1000$ cash urgently then you need to send 2150$ worth cryptocurrencies to you overdraft wallet. In my thought that's little bit higher than what i thought but will see when system live.

The thing that i liked about this project is you don't need to pay exchange or withdrawal fee and taxes because it's not exchange site and your money will credited to your bank account with 3-5 working days.

I visited their site and read whitepapar and i think project is quite unique and in my thought many cryptocurrency investor, trader, and people who related cryptocurrencies will be attracted this project a lot.

While i reading whitepaper i wanted to participate token sale but project is already funded with their private and pre-sale stage. This is showing how many people thinking potential of this project have. But i personally though selling their token for only big investors is not that good idea. Because there will be a lot of potential of price manipulation and there will be possibility of some wales use pump and dump method after token distributed to their users.

It's bad for token reputation and it's future so if possible i personally think held public sale and gathering lot of people on this project is good option for it's future growth.

Source:
Website
Whitepaper

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