Nexo NEXO

$0.1018
Market Cap $ 56.981 MM (#92)
24h Volume $ 1.749 MM
Chg. 24h: 4.40%
Algo. score 4.1/5  (#27)
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Nexo News

XRP’s Collateralization for a Loan Increases its Utility as an Asset

An asset is something that can be used as a collateral to borrow money. The same is now possible with XRP which can get its holder a fiat loan of up to USD 2 million. This service is offered by a company claiming to be the world’s first instant cryptocurrency-backed loan service known as Nexo. Nexo- a platform for Cryptocurrency-backed loans Nexo is a platform that aims to deliver the world’s first instant cryptocurrency-backed loans. The decision to enter the market is related to the fact that there were no alternatives for cryptocurrency owners to enjoy their wealth without having to sell their coins. Users will always have 100% ownership on their assets and have immediate access to cash in case it is requested. There are no hidden fees and the process can be completed in just a few simple steps. The platform is backed by prominent players in the space such as Michael Arrington and is powered by Credissimo, a leading European FinTech group providing financial services to millions across the continent. The service will effectively allow users to deposit their cryptocurrencies and digital assets to Nexo wallet and instantly allow a loan with no credit checks. This allows users to own 100% of their digital assets while having cash on demand. No official announcement has been made by Nexo as of now. However, their platform shows that the asset can be utilized as collateral along with Bitcoin [BTC], Ethereum [ETH], Binance Coin [BNB], and the service’s native asset, Nexo Coin. The withdrawals and deposits are currently disabled. The platform allows users to utilize XRP for a flexible credit line and 8% per year charges. Moreover, the service utilizes BitGo, a custody provider approved by the United States Securities and Exchanges Commission. The existence of Nexo provides a solution to tax problems, which is a prominent hurdle for cryptocurrency enthusiasts as well. Currently, they are forced to pay capital tax on their gains when they cash out. However, the platform will allow users to utilize a method known as the “Zuckerberg Tax”, removing tax liabilities by converting selling into an overdraft, where users still have access to liquidity. This platform comes as a strong competitor to SALT which also provides a Cryptocurrency-backed loan in and its services are available in 35 states of United States, including Washington D.C. SALT coin is currently ranked 112 by market cap according to Coinmarketcap.com data depicting a clear demand for crypto backed loan. The service of crypto backed loans is slowly picking up as people do not want to lose their holdings as they believe the cryptocurrencies prices will rise and they don’t want to be FOMO ed. Will we soon find traditional banks giving out services of crypto backed loans? Do let us know your views on the same. The post XRP’s Collateralization for a Loan Increases its Utility as an Asset appeared first on Coingape.

2 days ago

Crypto platform Nexo adds Ripple (XRP) as collateral option to raise cash

CryptoNinjas Nexo, a crypto-backed loan provider today has announced that Ripple native asset XRP has been added as the latest collateral option for its loan facilities. The addition, which is the result of a Nexo community poll will take... Crypto platform Nexo adds Ripple (XRP) as collateral option to raise cash...

2 days ago

Nexo adds Ripple (XRP) as collateral option to raise cash

CryptoNinjas Nexo, a crypto-backed loan provider today has announced that Ripple native asset XRP has been added as the latest collateral option for its loan facilities. The addition, which is the result of a Nexo community poll will take... Nexo adds Ripple (XRP) as collateral option to raise cash...

2 days ago

XRP can now be used as collateral for $2 million instant loans

XRP has gained more utility as an asset in the greater asset class of cryptocurrencies, as it can now be used as backing for a loan of fiat money up to $2 million. This service is offered by a company claiming to be the world’s first instant cryptocurrency-backed loan service known as Nexo. The platform is backed by prominent players in the space such as Michael Arrington and is powered by Credissimo, a leading European FinTech group providing financial services to millions across the continent. The service will effectively allow users to deposit their cryptocurrencies and digital assets to Nexo wallet and instantly allow a loan with no credit checks. This allows users to own 100% of their digital assets while having cash on demand. No official announcement has been made by Nexo as of now. However, their platform shows that the asset can be utilized as collateral along with Bitcoin [BTC], Ethereum [ETH], Binance Coin [BNB], and the service’s native asset, Nexo Coin. The withdrawals and deposits are currently disabled. The platform allows users to utilize XRP for a flexible credit line and 8% per year charges. Moreover, the service utilizes BitGo, a custody provider approved by the United States Securities and Exchanges Commission. The existence of Nexo provides a solution to tax problems, which is a prominent hurdle for cryptocurrency enthusiasts as well. Currently, they are forced to pay capital tax on their gains when they cash out. However, the platform will allow users to utilize a method known as the “Zuckerberg Tax”, removing tax liabilities by converting selling into an overdraft, where users still have access to liquidity. The post XRP can now be used as collateral for $2 million instant loans appeared first on AMBCrypto.

2 days ago

XRP-backed loans are now available on the Nexo platform, mak...

XRP-backed loans are now available on the Nexo platform, making us the first and only crypto lender to onboard #XRP… https://t.co/nwnmT38a20

2 days ago

Nexo Users Can Soon Use XRP As Collateral

Nexo, a cryptocurrency loan platform has announced the support for XRP as a collateral option. While Nexo has not made an official announcement, the platform included buttons for deposits and withdrawals of XRP on its interface early this week. Nexo already supports other cryptocurrencies like BTC, ETH, NEXO, and BNB. It offers crypto loans at an annual interest rate of 16%. Nexo (NEXO) is priced at $0.09304, gaining 1.03% in the last 24 hours. (VS)

3 days ago

Crypto Lending Startup Nexo Partners with Circle's CENTRE, Adds Stablecoin-Backed Loans

Nexo, which is a cryptocurrency-backed loan startup, has chosen sides in the stablecoin wars. The company announced a new partnership with CENTRE, which is the stablecoin platform launched by Circle. As part of the deal, Nexo will now provide loans in USD//Coin (USDC), which is a stablecoin that was unveiled alongside the CENTRE platform. Meanwhile, Nexo is distancing itself from rival stablecoin Tether (USDT), saying in a tweet that it “never held significant amounts of Tether on its balance sheet.” (GT)

3 days ago

Tether [USDT] facing turbulent times; crypto-loaning firm Nexo denies close association

On October 16, cryptocurrency lending firm Nexo interacted with the community regarding the ongoing issues with the USD-backed stable coin Tether [USDT]. The company acknowledged that it has never possessed any significant amounts of USDT on its balance sheet. In its official Twitter post, Nexo wrote: “Nexo follows the situation around Tether (USDT) closely. We would like to assure all clients and investors that Nexo has never held significant amounts of Tether (USDT) on its balance sheet. We are soon adding support for more stablecoins.” Last week, a controversy emerged regarding the legitimacy of USDT, when the popular cryptocurrency exchange, Bitfinex, was allegedly facing insolvency post the pause of USD transactions on the platform. Following this, the exchange got into trouble and was scrutinized over the suspicion of using USDT in huge amounts. Furthermore, allegations stated that no transparent audits had proved that the stable coin is actually backed by the US Dollar. In the same timeframe, the biggest cryptocurrency in the world, Bitcoin [BTC], also faced a fatal drop in the crypto-market. This was speculated to have occurred due to disruption in the Bitfinex ecosystem and the stoppage of USD trading on the platform. However, the price of Tether has not been affected by the news as of now. At the time of writing, the stable coin was trading at $0.976, with a market cap of $2.2 billion. The USDT market is up by 1.53% with a 24-hour trading volume of over $3 billion. Coffee$Bear, a Twitter user, and a cryptocurrency space enthusiast, commented on Nexo’s tweet: “If I take a loan in USDT do I owe USDT or USD?” Here, another cryptocurrency and blockchain space follower responded and wrote: “you owe USD, no matter what kind of loan you take or what is your collateral.” The post Tether [USDT] facing turbulent times; crypto-loaning firm Nexo denies close association appeared first on AMBCrypto.

3 days ago

Nexo has partnered up with CENTRE, the Goldman Sachs-backed ...

Nexo has partnered up with CENTRE, the Goldman Sachs-backed entity behind the stablecoin USDC. Nexo's clients will… https://t.co/Irn4j8q4T7

4 days ago

Nexo follows the situation around Tether (USDT) closely. We ...

Nexo follows the situation around Tether (USDT) closely. We would like to assure all clients and investors that Nex… https://t.co/DyN1S16Zkz

4 days ago

Our dear friend @MichaelSuppo with some insights as to what ...

Our dear friend @MichaelSuppo with some insights as to what makes Nexo the most advanced crypto lender, check out t… https://t.co/qjZprmFvIw

5 days ago

Analysis: 11 coins with sizzling sentiment as BTC wobbles

This has got to be the worst time to be trading crypto. At least a few months ago, it was pretty clear we were in a downtrend. Now, every move of Bitcoin is micro-analyzed, even as those moves become more microscopic, with everyone hoping to find signs that we might finally be turning around. But as of right now, looking at sentiment analysis, most signs still point down (this morning’s spike and $USDT craziness notwithstanding). Let’s look at the market charts to see what I’m talking about. Disclaimer: I write these things late Sunday night, generally. So if something big happens between then and publication, ¯\_(ツ)_/¯. For the last few months, Bitcoin just can’t get any sustained sentiment going. We had a peak again last week, leading up to our big drop on the 10th. And that’s the been the pattern for the last few months. We get some sustained bullish action, we reach a peak, people get excited that it’s going to continue and then, bam, the bottom falls out. Sentiment rebounded pretty quick, as did the price of Bitcoin, and we remain in the narrowing price channel we’ve been in so far this fall. That’s not terrible news for Alts, who have been able to ride Bitcoin’s stability to some nice gains. Sentiment has fallen recently with less certainty surrounding Bitcoin, but as long as we don’t see another major drop, people may continue to test the waters and throw some money into other currencies. A couple of things worth noting in the Alts market. You can expect some continued buzz around $ADA, $BAT, $XLM and $ZEC as the world awaits which coin will next be added to Coinbase. As you likely know, $ZRX began trading on Coinbase Pro last week and saw a healthy bump. $BAT has been in my weekly picks for a few weeks now and continues to be the highest rated of the “Coinbase 5”, by sentiment. Another thing worth noting is $BNB. Binance’s native currency has been in the weekly picks for the last two weeks. Generally speaking, $BNB does best in bear markets as the strongest exchange-based coin. If things turn south, it may be worth watching. Stay vigilant though. Eventually, Bitcoin is going to have to pick a direction and it’ll probably be more dramatic than we’ve seen when it does. The Top Alts These coins/tokens had the highest power rating in my analysis this week. The power rating is a weighted calculation taking into account sentiment, volume and the number of unique users who mentioned a coin. Generally, I eliminate any coins mentioned by less than 3 individual people as I don’t feel it would be representative of a trend. One important note: Pay close attention to the previous week’s price action. High sentiment can indicate both a possible move or a possible peak in price, however temporary. I’ll be adding signals soon to indicate this, but be wary of any coin with a major price shift in the last week. 11. 10. 9. 8. 7. 6. 5. 4. 3. 2. 1. The Data Coin Sentiment (of 100) Volume Influencers Power Rating ABT 0 1 1 0 ACED 93 1 1 46.5 ADA 40 25 15 68.25 ADX 64 1 1 32 AE 11 4 2 36.75 AGDN 90 1 1 45 AGG 48 1 1 24 AGI 81 6 1 60.75 AION 39 19 8 66.75 ALQO 58 6 4 69.5 AMB 64 1 1 32 AMGN 3 1 1 1.5 ANON 78 5 2 71.75 ANS 85 1 1 42.5 APOT 2 1 1 1 ARK 59 4 4 67 ARN 36 5 4 57 ARO 5 4 4 40 AURA 81 4 1 57.75 BAT 64 19 11 79.75 BAX 64 1 1 32 BAY 20 1 1 10 BBK 48 3 3 56.5 BBP 64 1 1 32 BCC 93 1 1 46.5 BCH 45 10 8 68 BCN 39 9 9 65 BCO 0 1 1 0 BDG 20 1 1 10 BIS 85 1 1 42.5 BIX 20 1 1 10 BLOCK 20 3 1 24 BLZ 20 1 1 10 BNB 62 16 7 77.25 BOX 85 1 1 42.5 BQX 64 1 1 32 BTC 41 437 87 70.5 BTS 20 1 1 10 BVO 99 1 1 49.5 BWK 74 17 5 81.75 BXY 74 3 3 69.5 BYC 0 1 1 0 BZX 74 3 1 51 CATO 64 3 3 64.5 CHF 5 2 1 13.25 CLO 93 1 1 46.5 CLQ 81 1 1 40.5 CMT 78 8 4 80.75 COLX 16 5 1 26.75 CRM 90 1 1 45 CTK 3 1 1 1.5 CV 93 3 2 74.5 CYFM 81 1 1 40.5 DACC 85 2 2 67.25 DAI 64 2 1 42.75 DALA 99 1 1 49.5 DAX 16 5 5 48.25 DAXT 48 1 1 24 DBIX 59 5 2 62.25 DCR 20 6 3 48.75 DERO 60 13 3 71 DEV 48 3 2 52 DGB 43 5 5 61.75 DGTX 7 1 1 3.5 DIG 11 1 1 5.5 DIS 0 1 1 0 DJI 15 7 5 49.75 DLT 99 1 1 49.5 DNT 3 2 2 26.25 DOGE 61 3 3 63 DOT 18 3 1 23 DOW 5 2 2 27.25 DP 90 1 1 45 DRGN 11 2 2 30.25 DTB 48 1 1 24 DXY 20 1 1 10 DYN 48 3 1 38 ECC 85 2 2 67.25 EDG 40 2 1 30.75 EGEM 85 1 1 42.5 ELA 64 1 1 32 ELF 44 3 1 36 ENG 36 5 2 50.75 EOS 35 18 13 65.25 EQLI 20 1 1 10 ESE 48 1 1 24 ETC 15 14 12 54.25 ETH 19 50 28 58.75 ETN 64 3 2 60 EVI 95 1 1 47.5 EVX 61 3 2 58.5 FLASH 97 1 1 48.5 FOTA 46 13 2 59.5 FTC 64 1 1 32 FUEL 44 3 1 36 GAS 48 1 1 24 GAX 20 1 1 10 GE 20 1 1 10 GEO 97 1 1 48.5 GFY 5 4 3 38.25 GIN 64 4 3 67.75 GMT 7 1 1 3.5 GP 20 1 1 10 GRS 81 1 1 40.5 GVT 76 2 1 48.75 HEXX 20 1 1 10 HKN 7 5 4 42.5 HOT 48 10 6 68.5 HT 11 4 2 36.75 HXRO 20 2 2 34.75 ICX 42 29 12 69.25 INS 10 3 2 33 IPSX 64 4 1 49.25 KEY 80 5 2 72.75 KLKS 61 2

5 days ago

Nexo, the largest security token issuer, has taken complianc...

Nexo, the largest security token issuer, has taken compliance with securities laws and SEC’s advice seriously from… https://t.co/kfdE710ZnI

8 days ago

Nexo (NEXO) Has Integrated its Crypto Loan Button on Etherscan

Nexo (NEXO), a financial platform that claims to “offer the world’s first instant crypto-backed loan,” recently posted the following tweet announcing their partnership with Etherscan: “An awesome milestone for the #NexoEverywhere integration campaign: our dedicated “Crypto Loan” button is now also on @etherscan, the most used Ethereum explorer. Tens of millions will now see Nexo’s crypto loans, a unique proposition of instant cash and HODLing at the same time.” This marks the second major partnership for the Crypto Loan button, which was recently integrated on CoinMarketCap. (JF)

8 days ago

The Binance Coin’s status as a safe haven allows Nexo to now...

The Binance Coin’s status as a safe haven allows Nexo to now increase the loan-to-value ratio to 30%. BNB holders c… https://t.co/WSadvpwQE3

11 days ago

Nexo Announces First 30% Profit-Share Dividend Date

Nexo (NEXO), a cryptocurrency-backed loan platform, has announced that its long-awaited dividend program will go live on December 15, distributing 30% of the platform’s profits to NEXO holders. As a profitable enterprise from the very beginning, Nexo is paying out the first ever Dividend on a token on December 15! In an industry first we will ...

14 days ago

Flatline Friday For Crypto Markets, Only Tron Making a Move

FOMO Moments Markets flat this Friday morning; Tron, EOS, Nexo moving up. There is still very little going on in crypto land as we round out the week. Since yesterday markets have barely moved and have remained at a little under $220 billion total capitalization. Bitcoin has made it back to $6,600 with a one......

15 days ago

Market Trades Sideways With Possible Upward Trend Forming

Over the past 24-hours, the cryptocurrency market has traded sideways for the most part and now appears to be headed higher. At the time of writing, Bitcoin is trading at a price of $6581, an increase of 1.37% since this time yesterday. Similarly, Ethereum is up 1.45% and trading at a price of $222.84. The biggest gainers from the top 100 are External Token (XET) and Noah Coin (NOAH), both up around 26%. Nexo (NEXO) is in third, up nearly 25%, after recently being added as a loan option button on CoinMarketCap. (JF)

15 days ago

Nexo Jumps 25% After Announcing Loan Button Integration With CoinMarketCap

The price of Nexo (NEXO), a cryptocurrency-backed loan platform, is up 25% over the last 24 hours to $0.092 after it announced a new collaboration with leading crypto index website CoinMarketCap to integrate a “Get Loan” button directly on the site. Nexo is happy to announce the direct result of @CoinMarketCap’s only collaboration with a crypto-backed lender. ...

18 days ago

Nexo (NEXO) Collaborates with CoinMarketCap and Integrates Crypto Loan Button

The more observant crypto enthusiast might have noticed the new “Get Loan” button on CoinMarketCap. This is the result of direct collaboration between the team at Nexo and the popular cryptocurrency tracking site. The announcement on their Twitter feed read: “Nexo is happy to announce the direct result of @CoinMarketCap’s only collaboration with a crypto-backed lender. Nexo is now the only crypto-backed loans provider with a “Get Loan” button on each page of the most visited website in blockchain with 100+ million views monthly!” Nexo is currently trading at $0.0894. (JF)

18 days ago


News courtesy of berminal.com
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