US$912,071.00 ; That is how much dividend Nexo will be giving out.
Crypto-lending platform Nexo.io has issued a statement that their first ever dividend will be paying out this December 15th, 2018 to all Nexo Token holder. Becoming the first ever crypto-based lending platform to pay out dividends to it's shareholders.
But it doesn't mean anyone can go and Swap yourself some Nexo tokens right now and get paid the dividends. To be eligible, shareholders must deposit their tokens in their registered Nexo custodial wallet before the 5th of December. Where the company will perform a snapshot to calculate the distribution. Sorry guys!
As of 5th December, there are 309,658,705 tokens that fulfill the eligibility and will be awarded the dividends. That calculates to about $
0.002945 USD per Nexo token, and at the current price of $0.07, this amounts to a 4.80% dividend rate!!
The dividend will be paid out in Bitcoin based on the price of $4017.27 as of 30th November 2018. Which means you might be getting slightly less in Dollar terms. However, this is the risk that comes with the volatility of Bitcoin. If the market id on the bull run we'd get more in Dollar term!
I admire what Nexo is doing. Based in Switzerland, they've got a solid team of people who knows what they're doing. Even Nexo itself as a brand have credible experience prior to the re-branding (formerly Credissimo).
If you haven't heard of what Nexo is. They are a crypto-lending platform that lets you perform a "Zuckerberg tax" on your Bitcoin. So instead of needing to sell your Bitcoin for cash, you can use it as collateral on a loan and either pay back in fiat or forfeit on your collateral.
This is great especially in my case when my country is about to enact cryptocurrency regulation and possibly tax any sales of Bitcoin in 2019.
Being the fanboy I am, i used GIMP to recreate the Nexo Logo as part of Sndbox's Cryptodot initiative.
What do you think of Nexo? were you eligible for the dividend? Let me know in the comments!
Posted from my blog with SteemPress : https://kristiankho.com/blockchain/us912071-00-that-is-how-much-dividend-nexo-will-be-giving-out/
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Kristian Kho [Ian] is a 24 year old freelancer with a passion for steem and a deep desire to be a better person in every aspect. I aim to express any and all my thoughts on things that I find interesting as well as using this platform as a self-development log.
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Omg, that dividend is much better than our local banks bro lol
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Exactly! And all this while the crypto market is going down over 2018.
Another benefit of holding Nexo tokens also is the availability to apply for a loan at an 8% APR interest rate (minimum loan is $1k)! Plus the benefit I mention in the post (can pay with crypto). Your bank will never give you a no question asked loan if you only apply RM5k, let alone 8%.
It's companies like Nexo that will make our lives safer as an alternative to local banks, which we all know are not the most honest businesses. @bitrocker2020 checked and found that Nexo is available to Malaysians too.
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