Your choice.Īccess lending terms and payment options through the Savings Hub: Nexo mobile app pictured This lets you earn BTC for lending BTC or ETH for lending ETH. To take your yield in the same coin you’re lending, just click a toggle switch. Nexo tokens are the default yield, so change the setting to earn “in kind.” You can also earn up to a 2% higher rate by taking your interest earnings in NEXO tokens rather than the crypto you’re lending. Upon deposit, you’ll start earning a base rate, but if you commit to a longer lending period, your Nexo Earn rates will be higher depending on the lock duration you choose. But if you live in a jurisdiction that’s more forgiving of you making a few extra bucks on your crypto holdings, Nexo Earn lets you lend BTC and other crypto assets easily (over 60 lending assets supported). This follows a similar pattern in which interest-bearing crypto lending in the US was pulled from exchanges like Gemini. Nexo’s earn product is one of the most attractive parts of the offering - but it’s not available in the US. It might be worth the investment if you’re borrowing or lending in large amounts.Īnother thing to keep in mind is that if the value of NEXO falls (or the rest of your portfolio gains value), you may need to top up your NEXO allocation to remain qualified for your desired loyalty tier. These ratios can fluctuate, but it’s something to consider when buying NEXO to qualify for the top tiers. In other words, you’d have twice as much value investing $1,000 in BTC compared to buying $1,000 worth of NEXO tokens. Over the past 12 months (as of this writing), NEXO tokens have lost more than 50% of their value relative to BTC. The caveat: You have to invest in NEXO tokens, which brings some volatility risk. For example, on crypto, the base Nexo interest rate is 4%, whereas Platinum Nexo users earn 5%. Higher interest on deposits: Where available, you can earn an additional 25% on most interest-bearing deposit types compared to the base rate.Additional free withdrawals: Get five free withdrawals per month compared to just one on the base tier.Exchange rebates: Get 0.50% exchange cashback on trades.Lower borrowing rates: 6.9% for Loan to Value (LTV) of 20% or higher, 0% Nexo interest rate for lower LTV loans.The reward for reaching the Platinum tier comes gift-wrapped with several benefits. So, if you had $9,000 worth of crypto on Nexo, you would need to buy $1,001 in NEXO - and hold it on the Nexo exchange - to qualify for the top tier, Platinum.
0 Comments
Leave a Reply. |