Nexo.io is said to be a crypto overdraft system that allows user not to sell their cryptocurrencies instead, they can be used as collateral and withdrawable through cash. You also have full access to your crypto assets values as well as holdings.
Nexo is powered by Credissimo and good news is that Credissimo is regulated by EBFSR(European Banking and Financial Services Regulators. I would say that Nexo.io is the solution to Credissimo's major problems in the current digital eco system.
The Obejective Of Nexo
Nexo bank objective is to make cryptocurrency holders not to sell their crypto coins but rather withdrawn as cash. Nexo was launched in the year 2017 with the main purpose of bringing or implementing full blockchain technology into the overdraft system.
The core functions of the Nexo platform includes:
- Unlocking the value of your digital assets thereby retaining them.
- You have the security you need which is provided by the blockchain technology.
- You also get to have instant crypto overdrafts.
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Nexo users have the privilege of knowing the value of their digital assets by placing the funds in a Crypto Overdraft Wallet. Users can have access to crypto instantly their funds have been placed in the Overdraft Wallet. They can be withdrawn in fiat currencies like USD and EUR or users can choose to withraw by cryptocurrencies as well.
The Problems Nexo Seek to Solve:
Nexo tends to solve some of the major problems well known today in the digital ecosystem. Some of the problems include:
Idle Value in Digital Assets: Cryptos and digital assets worth billions of dollars that are Idle are presently owned by investors around the world. These assets value is meant to grow in the near future to come.
Nexo unlocks the digital assets value thereby allowing customers/clients obtain what we call instant overdraft in cryptocurrencies or fiat money by placing this said assets in an overdraft wallet.Ownership: I can say that with Nexo, users have the full 100% ownership of their digital assets unlike today that a user needs to lose ownership of their digital assests just by seeking ways to access cash from their crypto assets, thank God for Nexo.io.
Lack of Trust and Transparency: Digital assets transactions are mainly settled through a P2P agreement which lacks good security and efficient transparency on both sides. This is where Nexo comes in with transparent contracts built on the blockchain thereby viewing the terms of your overdraft on the blockchain.
Who Should Use Nexo?
Nexo users that uses Nexo includes:
- Cryptocurrency Investors
- Crypto Miners
- Cryptocurrency Exchanges
- Hedge Funds
- ICO and Crypto Companies
- Gamers
How to Use Nexo
Step 1: Transfer your cryptocurrency into the overdraft wallet.
Step 2: Receive the overdraft instantly.
Step 3: Repay the overdraft at the said time and interest rates.
Step 4: Withdraw your assets from your Overdraft Wallet.
For more Information and details about Nexo.io see below;
Nexo Website
Nexo Whitepaper
Nexo Youtube
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