Nexo - Keywords.Network

Nexo.io

The World's First Instant Crypto-backed Loans

Finance

Start Date:17-03-2018
End Date:  15-04-2018
1 NEXO = 0.10 USD
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KEYWORDS.NETWORK
Nexo delivers the World’s First Instant Crypto-backed Loans, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alternatives existed for digital asset owners to enjoy their crypto wealth except selling them. The innovative model of Nexo brings to the crypto community the best of both worlds - retaining 100% ownership of their digital assets while having immediate access to cash. The Instant Cryptobacked Loans are an automatic, flexible and cost-efficient way of obtaining liquidity that is secured by the value of the client’s digital assets. The whole process is completed in just a few simple clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts and algorithmic processes executed by the Nexo Oracle.
Nexo
Nexo
Switzerland

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Instant Crypto-backed Loans

A number of companies promise lending solutions to the crypto community, and currently all of them are operating as P2P platforms for collateralized and uncollateralized loansThe decentralization of lending brings significant costs and slows down the whole process, ultimately resulting in a deteriorating user experience.Lenders who are willing to participate in those platforms carry the significant burden of managing, monitoring, and supervising loan offers, which makes it inconvenient and inefficientMatching borrowers with lenders who are willing to fund the loan requests takes a lot of time, as terms must be agreed upon by all of the parties involvedThese characteristics of P2P lending render the whole process cumbersome and slow.Recent data shows clearly that the demand for loans is much greater than the supply, resulting in an inefficient marketNexo is there to bridge precisely this gap, ensuring enough supply of funds to provide instant loans, thus providing adequate liquidity for the crypto community in an efficient mannerThe Nexo team has 10+ years of experience in instant lending solutions and has granted more than $120 ? in loans to millions of customers throughout Europe.

 

Furthermore, getting funding from Nexo is a seamless, instant processWhereas other providers charge membership, application, and/or funding fees on top of their interest rates, Nexo has no fees whatsoever and a very competitive annual interest rateFurthermore, NEXO token holders enjoy discounted repayment rates while loan limits can be increased using NEXO tokens, just as they can with Bitcoin or Ethereum.Nexo’s business model is designed with the sole mission of aligning clients’ interests with those of the company.

BUSINESS MODEL

The business model of Nexo is to provide instant crypto loans in order to unlock the value of the digital assets owned by its clientsThe process is simple and can be broken down into a few simple steps:

 

Step 1: The Client transfers Crypto Assets to the Nexo Wallet

A prospective client transfers crypto assets to their Nexo Wallet Once the relevant blockchain confirmations for the respective crypto asset are received, the Nexo Oracle automatically calculates the Loan limits and instantly sets up the loan.

 

Step 2: The Client Receives Instant Loan in USD or EURO

The Loan limit is instantly available by bank transfer or the free Nexo Credit Card Depending on their needs and circumstances, the clients can choose the most convenient way to use their cash, as well as the currencies in which they would like to receive the fundsThe loan limit is based on the market value of the crypto assets in the Nexo WalletShould the cryptocurrency appreciate in value, the Nexo Oracle increases the loan limit.

 

Step 3: The Client Repays Loan

Clients can repay their flexible loans in multiple ways – via bank transfer, fiat or cryptocurrencySpecial discounts on the interest rates are granted to those choosing to make payments with NEXO tokens.A third option is to pay by partial sale of the crypto assets (BTC, ETH, etc) in their Nexo WalletIn addition to the flexible repayment options, Nexo does not require any monthly minimum repayments as long as the outstanding balance is within the available loan limitOnce a repayment is received, Nexo Oracle records the transaction on the blockchain and instantly updates the loan limits.

 

Step 4: Withdraw Crypto from Nexo Wallet

If the crypto assets in the wallet meet the required limits of the outstanding loan balance, clients can withdraw part or all exceeding amount at any given timeOnce the loan is fully repaid, clients can withdraw all of the crypto assets in the wallet.

 

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