Official Are there any loan repayments?
You are free to choose when and how you repay your loan – in FiatX, in crypto, or by combining both. For the minimum amount of repayments, please click here. Repaying in crypto When repaying your outstanding loan, you can use: Crypto assets BTC, ETH, USTC, BCH, LTC, EOS, BNB, XLM, LINK, TRX, ADA, DOT,…
Official What can I use Nexo loans for?
You are free to allocate the funds from your Nexo Loan towards your specific needs or financial goals. Different borrowers around the world have different demands and preferences for how long they will use the funds from their Nexo loans. As people who have been in the business of lending for over 10 years, we…
Official Is your platform centralized?
Yes. For the moment, Nexo provides a centralized service, as the current blockchain infrastructure does not allow fully autonomous solutions and attempting to build one at this stage would create more problems than solutions.
Are there margin calls, will I be notified beforehand and how much time I will have to respond?
If the collateral assets decrease in value significantly, the client will be warned to add more collateral. The client will be notified, and partial automatic loan repayments will only start after the Loan-to-Value increases to 83.3%. Example: If the loan amount is 5 000 USD then the partial automatic loan repayment will be initiated only…
Official How is Nexo different from a margin lending?
You can use your Nexo crypto-backed loan for whatever purpose you like. You can use it for investments, just like in a margin account, but without having to deposit the new tokens as collateral. You can use it to buy a new car, a new TV, or a new home. You can spend it on…
Official What is Nexo?
Nexo is the world’s most advanced, regulated digital assets institution offering quick fiat on-ramps for 40+ cryptocurrencies, industry-leading earn rates on assets, intuitive crypto exchange, instant crypto credit lines, and the world’s first crypto-backed credit card. The company’s mission is to maximize the value and utility of cryptocurrencies. We help 4+ million users in 200+…