What is NEXO?
Nexo is a platform that enables users to take out loans in the form of cryptocurrency. Users must put up other accepted tokens (such as Bitcoin) as collateral to withdraw many coins backed with no volatility in value (stablecoins). The Nexo website touts the NEXO currency being the first asset-backed token that pays dividends to its investors. Nexo provides instant loans once borrowers have deposited coins making for a much faster lending process. Smart contract protocols enable Nexo to create on-the-spot loans by eliminating the need for a third party to facilitate and verify the loan.
Nexo's founders recognized that a platform did not yet exist in the crypto sphere for users to borrow amounts against the value of their holdings, so they created Nexo to make a more efficient blockchain lending system for cryptocurrency. Nexo is geared toward single investors as well as institutions and mirrors traditional lending services in that they make their profits from accumulated interest.
Nexo is now offering a Nexo Card that enables users to spend the dollar amount of their crypto without having to sell it. The credit card is widely accepted and has over 40 million merchants allowing payment. Since 2018, Nexo has become known as the biggest and most relied upon lending platform in the cryptocurrency space.
Nexo favors those who use and keep NEXO tokens in their accounts and gives them lower interest rates for borrowing. NEXO holders also get dividends paid out for 30% of Nexo's net profits. The supply of 1 billion tokens was initially divided among funding reserves, the founders and Nexo team, Nexo projects, legal expenses, marketing, and a 52% majority was available for sale to the investors. As of 2020, there is a supply circulating of 560,000,011 tokens.
NEXO is available to purchase through HitBTC, HOTBIT, and Huobi, among others. Investors in the cryptocurrency have seen an ROI since its inception of 398%.
What are NEXO Frequenty Asked Questions?
Where does NEXO (NEXO) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, NEXO currently ranks in position 68 out of the thousands of cryptocurrencies. It is also important to consider NEXO‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. NEXO has a market cap of $ 1,921,222,832, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,206,775,367,706, Litecoin at $ 18,539,620,658, Ethereum at $ 275,380,290,299, Tether at $ 45,888,879,484, and XRP at $ 88,360,148,675.
What is the price of NEXO (NEXO) today (updated in realtime)?
The current price of NEXO is $ 3.43 in USD. (The price in Euros is 2,89 €; and the price in Bitcoin is Ƀ 0.00005300 BTC.)
What is NEXO‘s (NEXO) market supply?
The total available supply of NEXO is 560,000,010 NEXO. The total supply of NEXO is 1,000,000,000 NEXO.
What is the 24 hour volume for NEXO (NEXO)?
The 24 hour volume for NEXO is $ 14,320,746.
How has NEXO (NEXO) performed recently?
NEXO‘s price has increased in the last 24 hours by 3.85%. This compares with a seven day change of 18.78%. The trading volume over the last 24 hours was $ 14,320,746. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is NEXO (NEXO) official website?
Links to NEXO‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has NEXO (NEXO) performed well historically?
Here is a chart showing how NEXO has performed historically.
Where Can I Buy NEXO (NEXO)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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