How to Buy Nexo (NEXO)

Buy Nexo through Binance

• Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

Buy Nexo through Bitfinex

• Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands.Their customers’ money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships.Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange, offering digital asset trading services to users around the world. Bitfinex initially started as a P2P margin lending platform for Bitcoin and later added support for more cryptocurrencies.

Buy Nexo through Gate.io

• Gate.io is a crypto exchange founded in the fall of 2017. The platform is a part of Gate Technology Inc corporation, and has a registration address in Virginia, USA. The platform does not have an official license. Its interface is available for working in three versions: English, Chinese and Japanese.

Buy Nexo through Huobi

• Huobi is a Seychelles-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company. Following a 2017 ban on Bitcoin exchanges by the Chinese government, Huobi stopped Bitcoin withdrawals.

Buy Nexo through Bybit

• The exchange prides itself on delivering multilingual online support to its customers and is committed to providing a transparent and efficient trading experience. The products on the platform include BTC/USD, ETH/USD, LTC/USD, and XRP/USD perpetual contracts. A perpetual contract resembles a traditional futures contract in many ways. Its main difference, however, is that it doesn’t have an expiry date. Hence, traders are allowed to hold their positions for as long as they need to.Moreover, the exchange boasts a 100,000 TPS state-of-the-art matching engine. While many of its competitors have suffered from repeated overload problems, this high-performance matching engine makes it possible for Bybit to stand above the competition.The Bybit cryptocurrency broker platform is operated by the Bybit Fintech Limited which is registered on the British Virgin Islands, with headquarters in Singapore. The company was launched in March 2018, making it a fairly young player on the market.

Step 3 – Withdraw Your Nexo (NEXO)

Once you decide on an exchange, open an account and buy your Nexo. Make sure to withdraw the Nexo from the exchange to your personal wallet.

Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past).

OVERVIEW

Who Are the Founders of Nexo?

Nexo was founded by a team of finance professionals and crypto enthusiasts, who turned to blockchain to create the crypto equivalent to a service well established in traditional finance, but hitherto non-existent in digital finance— borrowing against the value of your assets while retaining ownership. In 2018, the team launched the Nexo platform, offering the world’s first crypto credit lines that allowed digital asset holders to obtain fiat and stablecoin loans against their cryptocurrency, and thus setting the foundations of the crypto lending niche.

The collective behind Nexo has a combined experience of over 30 years in financial services, including non-crypto lending, investment banking, mergers and acquisitions, and hedge funds, with Co-founder and Managing Partner Antoni Trenchev additionally contributing with experience in Finance Law and in KYC and AML solutions.

Trenchev, who has acted as the public face of Nexo’s leadership, has a track record in advocating for wider blockchain and crypto adoption, notably serving as member of parliament in Bulgaria’s National Assembly from 2015 to 2017, where he promoted the implementation of blockchain solutions for e-government services, as well as frequently commenting on crypto and digital finance-related current events to mainstream media, including Bloomberg, The Independent, and CNBC.

Nexo currently services over a million users across 200+ jurisdictions, managing over $4 billion in assets. The company currently has 150 employees, with its management based in London.

What Makes Nexo Unique?

Nexo (NEXO) is a cryptocurrency that powers the Nexo platform, a leading crypto-backed lending platform that allows users to borrow fiat currency against their cryptocurrency holdings. Here are some factors that make Nexo unique:

1. Crypto-backed lending: Nexo is one of the first platforms to offer crypto-backed lending services. Users can deposit their cryptocurrency holdings as collateral and borrow fiat currency at low-interest rates without the need for credit checks.

2. Instant credit: Nexo offers instant credit lines to its users. This means that users can get access to their funds instantly without the need for a lengthy approval process.

3. High loan-to-value (LTV) ratio: Nexo offers a high LTV ratio of up to 90%, which means that users can borrow more fiat currency against their cryptocurrency holdings compared to other lending platforms.

4. Earn interest on crypto holdings: Nexo allows users to earn interest on their cryptocurrency holdings, including Bitcoin, Ethereum, and Nexo, through its platform. This provides users with an additional source of passive income.

5. Nexo token benefits: Nexo token holders can enjoy additional benefits, such as discounted interest rates on loans, higher interest rates on crypto savings, and dividend payouts.

Overall, Nexo’s unique features make it an attractive platform for crypto investors and traders who want to leverage their cryptocurrency holdings for fiat currency loans or earn interest on their crypto assets.

How Many Nexo (NEXO) Coins Are There in Circulation?

Nexo has a fixed supply of 1 billion tokens. Of this amount, the supply was allocated in the following manner:

• 250 million NEXO (25%) for the company’s overdraft funding reserves, subject to a 12-month vesting period with a six-month cliff;
• 112.5 million NEXO (11.25%) for the founders and team, subject to a 48-month quarterly vesting period;
• 60 million NEXO (6%) for community building and airdrop campaigns, subject to an 18-month quarterly vesting period;
• 52.5 million NEXO (5.25%) for advisors, legal costs and marketing, subject to a 12-month vesting period;
• 525 million NEXO (52.5%) for sale to investors.

While Nexo initially planned to have a public presale and main token sale, it later canceled its public sales due to an overwhelming amount of interest from investors in its private sale.

In October 2020, the company announced that it was launching a “Nexonomics” initiative to drive its tokenomics and increase the value of NEXO. The company subsequently revealed that it would buy back $12 million worth of NEXO.

How Is the Nexo Network Secured?

Nexo is a privately owned company and, as such, is responsible for the security of its networks and user funds. Nexo stores its digital assets with BitGo, a crypto-asset custodian that keeps tokens in cold storage wallets and is covered by a $100 million insurance policy. In November 2019, Nexo reported that it was ISO/IEC 27001:2013 certified after being audited by RINA and the Consortium for IT Software Quality.

Its native token, NEXO, is an ERC-20 token issued on the Ethereum blockchain, meaning that any on-chain NEXO transactions are validated and secured by the Ethereum mainnet using its Ethash proof-of-work consensus algorithm. Miners compete among each other to add new blocks to the blockchain, and a majority of all nodes in the network must validate a record for it to be posted.

Upon its launch, Nexo reported that its token had been “fully audited.” In November 2019, the smart contracts were independently audited by Castillo Network, which found no critical security issues.