NEXO: Making Instant crypto-backed loans(Finance DApp review)

Hello guys, how are you all doing? Today, I will be reviewing a finance Decentralized Application or DApp website and we will take a look at NEXO.
NEXO is a bockchain-based overdraft system which allows its users swift crytocurrency loans. It basically allows you to make instant cryto-backed loans.
NEXO is a cryptocurrency project that has been gaining some attention in the crypto currency world. NEXO isn’t just being developed by a pretty big FinancialTech company, they have also have a lot of support from some powerhouses in the cryptocurency world.

NEXO

Nexo brings a very profitable business model by allowing crypto owners to use their holdings as collateral, and then withdraw cash. The users continue to have a 100% access to their cryptocurrency and also have immediate access to cash. At the same time, they can still access the worth of their crypto resources.

NEXO was invented by Credissimo, a leading FinTech group that has been serving a lot of users from all over Europe for more than ten years. The company has dashed out loans worth of about one hundred and twenty million dollars since it was founded while also, making a profit one hundred and fifty five million dollars.

The company has been said to be a market leader in the online consumer lending industry in numerous European countries. So far, they’ve processed 1 million+ loan applications and granted 79,000 loans in 2017. 78% of its traffic is generated by its recurring customers.
from a medium post by usethebitcoin

The Team
Kosta Kantchev is the one of the founders of Credissimo, an enterprise that runs Nexo. He has been an active member in the European FinTech industry for over a decade and, as seen in his online biography, was an early user of bitcoin. He has also actively collaborated in a boatload of blockchain enterprises which focus on enhancing worldwide loan repayments in cryptocurrencies.

The Chief Technical Officer of NEXO is Vasil Petrov. He has gained more than sixteen years of experience in different fields which includes: system administration, back-end development, architectural design of high-load and full-cycle projects. Apart from his involvement at Nexo, Vasil is also one of the founders of a US multichannel video and internet service that now has more than one hundred and fifty thousand clients.

How to start using the DApp website
First, you have to register on the platform by clicking on the NEW ACCOUNT icon as seen in the image below.

After that, you will be directed to a page where you will register with you email address and you will be asked to input whatever password you want as seen in the image below.

After putting in the required details, you will click on the verify icon and you will be given a task to confirm you are not a robot as see below.

After completing the task, you will be directed to a page with a message telling you to go to your Gmail inbox and verify your account as shown below.

After confirming your email address, you will see the image below.

Then, you click the continue to you Now Account icon and your account would have been created as seen below.

After this, you can begin to use your NEXO wallet account.

NEXO Features
People using Nexo benefit from a high level of asset liquidity which is not very common in the crypto currency world. With the fact that withdrawing bigger sums of physical capitals is still difficult, the company guves a free credit card to its marketing clients, which can be used to make daily business transactions. It is also important to note the fact that by using Nexo’s cryptocurrency loan service, clients have the choice of making the best of their capital profits knowing that other benefits can be advantageous.

Things that are good about the Nexo platform

Apart from the fact that Nexo allows it's user to get loans without giving up their cryptocurrencies in huge deals, it also give incentives to it's users. 30% of interests gotten from loans is distributed to Nexo holders.

In conclusion, Nexo is a totally different crytocurrency blockchain which allows it's users to get loans. I think that is pretty amazing

Rating: 5/5

References
Nexo
usethebitcoin
Coinbureau