what is Nexo?
Nexo offers the arena’s first instantaneous crypto overdrafts. which means that owners of virtual property do now not need to sell their crypto to have get access to immediate cash each time they want it.
How NEXO is going to change how cryptocurrency users access their funds
- Nexo will permit users to apply their cryptocurrency as collateral to get liquidity with out credit checks,exchange expenses, taxes or hidden costs. this will enable crypto holders to preserve their function and benefit from any upside capability, while giving them the power to seize any attractive possibilities or meet any instant obligations.
- Cryptocurrency investors can obtain immediately investment based available on the market price of their Bitcoin, Ethereum or different liquid cryptocurrencies, tokenized assets or software tokens.
What are the benefits of being able to overdraft against cryptocurency.
Hedge funds which can be retaining ICO tokens, cryptocurrencies or any of the multitude of other virtual assets can be capable of receive instantaneous overdrafts to take new positions in their investments.
ICOs and cryptocurrency based organizations can instantly get right of entry to working capital and meet their immediate monetary needs by way of using Nexo immediate crypto overdraft. this may make sure that their operating prices are met on time.
Cryptocurrency miners incur many fees to retain their operations, together with retaining the vital computing power that allows you to address the increasing problems. alternatively of getting to liquidate their holdings, they will be able to use overdrafts to cowl their growing charges even as retaining their cryptocurrencies.
**How will this effect cryptocurrency spending? **
there may be a massive gaming and VR industry populated with 2.3 billion humans and with in-sport trades amounting to over $55 billion. Nexo will keep to growth help of digital assets. this can translate into the capability to take overdrafts on sport objects without having to sell the objects.
The NEXO Token
Nexo has filed with the SEC to make certain they may be compliant with all rules.
NEXO tokens are backed by way of the Overdraft belongings portfolio and the traders acquire 30% dividends from the organization income.
NEXO tokens may be used for discounted overdraft payments.
NEXO tokens can be saved inside the overdraft wallet to get discounted and a growth in the overdraft restrict.
The Nexo credit Card
Nexo gives a credit card that can be used just as any traditional credit card. User can get access to the immediate overdraft function, Nexo gives immediately thru the credit card.
The Nexo Token Sale
The non-public Pre-Sale has been oversubscribed with the aid of a aspect of 5x and the programs for the public Pre-Sale Whitelist indicated an 11x oversubscription.