What is Collateral?
Collateral is crypto assets you would put up for a loan (if you don’t repay they will sell it to cover the default). You do not earn interest on crypto that you use as collateral, although Nexo tokens are an exception to this, they continue to earn interest while being in your Credit Wallet (collateral)….
Official Do you have credit checks or will loan from you affect my credit score?
With Nexo, there are no credit checks and nothing is reported to credit agencies. Your credit score will not be affected in any way. This is one of the major benefits of using Nexo.
Official Are the deposit addresses of each collateral unique?
Each deposit address is unique and remains unchanged until further notice. We recommend that you double-check each time before making a new deposit. Please note that the following crypto assets require you to use “Destination Tag” or “Memo“: – XRP (Ripple) – XLM (Stellar) – EOS – BNB – NEXO BEP2
Official What Loan-to-Value (LTV) can I get on my assets?
A Loan-to-Value (LTV) ratio is an indicator representing the size of a loan compared to the value of the assets securing the loan. The Loan-to-Value percentages of each asset are dynamically determined by the Nexo blockchain oracle algorithms, depending on the current and historical volatility and market liquidity of the asset. Those are the current…
Official What coins are accepted as collateral?
Crypto assets BTC, ETH, XRP, LTC, XLM, BCH, EOS, LINK, TRX, DOT, ADA, DOGE, SOL, AVAX, MATIC, FTM, ATOM, Terra (LUNA2), RUNE, UNI, AXS, PAXG, NEXO, BNB, GALA, SUSHI, CRV, AAVE, MANA, SAND, NEAR, KSM, APE, 1INCH, MKR, OP, FTT, HT, LDO, ENS, SWEAT, GMT, COMP, SNX, GRT, GMX, CHZ, CVX, FXS, DYDX, APT Stablecoins…
Official Loan-to-Value (LTV) Explained
The Loan-to-Value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of the collateral. Otherwise said, the measurement of the balance of the loan relative to the value of the collateral asset is represented as Loan-to-Value (LTV). Traditional lenders (e.g. banks) use your credit score,…
Official Is there a minimum repayment limit?
Below you can find the minimum repayment limits for Nexo’s loan repayment options: Important: XRP repayments are currently not available for US citizens and residents. Currently only the interest can be repaid with NEXO tokens. Repayments with Terra Classic (LUNC) are temporarily paused. Please note that loans repaid in less than 30 days are charged…
Official Loan Repayment
You can make loan repayments at any time with any amount over the minimum repayment limit for the assets supported by our platform. For the minimum requirements for crypto and FiatX, please click here. Currently, you can repay your loan partially or in full using the following currencies: – FiatX: USDx, EURx, GBPx – Stablecoins:…
Official How to take out a loan in stablecoins?
To allow for a broader and vast utilisation that meets the dynamic demands of the crypto space, we offer our Borrow product not only in 40+ fiat currencies but in stablecoins as well – USDT, USDC and BUSD. It is important to note that, unlike fiat loans, loan withdrawals in stablecoins will be automatically placed…
Official How to secure Your Credit Line with the Unlock Fixed Terms Opt-in?
With the Unlock Fixed Terms Opt-in Nexo gives you another option to secure your open credit line. Should your Loan-to-Value (LTV) reach 83.3% and the assets in your Flex terms have already been transferred out of the Savings wallet, the system will go on to unlock your Fixed-term/s and transfer the original amount of locked…