CELSIUS vs NEXO
Update July 2022: I have been warning users about Celsius for years, and the recent bankruptcy declaration from Celsius is no surprise to me or many others who warned of the many red flags they had over the years. Here is the full text I wrote years ago: — While it is my opinion, I…
Is [email protected] a legit email from Nexo?
Yes this is a real email and standard procedure when an account gets flagged. One example could be using a card that has a different name than the one you used to register your account with. Don’t worry, it’s just standard security and safety practices. Either way, it should not take long to get it…
When are we going to be able to choose to earn in kind for chosen coins and earn in NEXO for others?
This seems like a simple feature, but it’s quite complicated to make this happen on the backend. It’s very heavy on the platform, it’s very heavy accounting-wise and it’s very heavy in terms of generating yields sustainably. We don’t rely on future funding rounds to maintain our interest rates, we generate the yields through our…
Recently, there was a crackdown against Blockfi in some US states. How will this affect Nexo going forward?
This is definitely a point focus due to BlockFi being under scrutiny in the United States, the continued Тether FUD, and even the crackdown against Binance. To briefly explain what’s going on: Now that crypto has grown to the size that it has, there will be regulatory interest. Now, this is something we at Nexo…
Can we have a function to unlock Fixed Terms on fiat in exchange for a small fee?
Unlocking Fixed Terms defeats the purpose of locking assets, even if there is a small fee since Nexo relies on the liquidity in these locked accounts for our other products. But we will look into this going forward and see what we can do. We do however have the Unlock Fixed Terms option. It’s a…
We’ve noticed a lot of Nexo’s investments in other platforms. How do such investments benefit your current clients as opposed to investing in adding new features to Nexo?
We haven’t slowed down on the “feature adding”. The team is still getting larger and larger which means we can engage in even more tasks and developments. This is Nexo’s main revenue driver so we’re never going to stop pushing ahead in terms of new features. The investments we’ve made are in projects where we…
Where do you see Nexo in five or 10 years?
If we mean the NEXO Token here, then I see it at double digits in the next five to 10 years. I can’t say exactly how high it will go, but I think we have substantial potential. It all depends on market conditions. If Bitcoin were to go back down to $20,000, it would drag…
If you went public, would the NEXO Tokens be converted to equity?
If we were to go public, we are very aware that we have responsibilities to the NEXO Token holders and we will definitely take care of them should we ever decide to take this important step with Nexo.
Will the company sell its own tokens in the future or just utilize its own credit lines to extract value out of NEXO?
We, as a team, have not sold our tokens. We haven’t even touched them despite the sensational rise in our token’s value, they haven’t been moved from the smart contract – this is publicly visible. I think that speaks volumes about our conviction in our company’s success. We don’t need to sell them and we…
What effect would a banking license have on insurance and interest rates (borrowing and lending) of fiat?
NO! The rates will not drop after getting a bank license. At least for the foreseeable future. As long as it makes economic sense for Nexo as a company. Also protecting your interests. Rates are not randomly selected. Market forces that are playing out and determining the rates. Antoni doesn’t view the bank license affecting…