When it comes to the crypto-economy, being American is one of the worst things you can be for centralized exchanges and platforms. Thank G-d for DeFi. But still, thanks to more intrusive government regulations in the US, there are lots of tokens you can’t buy directly, Nexo’s native $NEXO token being one of them.
And it’s not just the US. Whether it’s a sanctioned country like Venezuela or just a place with crazy rules like Argentina or the US, many of you are more limited in your purchase options than you want to be. If that’s you, then you will love today’s article. It’s all about a simple workaround so you can buy what you want. So today I am going to show you how to buy $NEXO or most other tokens you want no matter where you live.
Elevating the $NEXO Token through new utilities and initiatives such as our latest buyback program shall remain crucial, going forward. 📈
Wondering how our native token gives you value? What happens to the tokens we’ve bought back? Find out below.https://t.co/ks6adrUlhw
— Nexo (@Nexo) September 8, 2022
Centralized Options to Buy NEXO Tokens
Non-Americans and those that use Binance, MEXC, Bybit, and a couple of other centralized exchanges have easy centralized options to go buy the $NEXO token. But for Americans and some others, not so. So how do you buy these tokens?
Where is your favorite place to buy small and mid-market tokens? Centralized? Decentralized? Leave us a comment below with your favorite place to buy or swap
Decentralized Options to Buy NEXO Tokens
The 3 most popular decentralized wallets for Americans in crypto today are:
I am going to walk you through how to buy using Metamask. But before I do, let’s look at the other two. Trust Wallet is the top Metamask competitor for dApp wallets. It connects to lots of blockchains.
Then, Coinbase Wallet is particularly popular in the US thanks to the Coinbase exchange’s popularity there. That said, the Coinbase Wallet is a separate entity from the exchange. It is a decentralized Web3 wallet.
Both make it super easy. The $NEXO token is an ERC-20 token so as long as you can trade and swap ERC-20 tokens, you can get it. And both of these wallets allow that. Both have either a Trade or Swap feature from within the wallet as you see here on the front of the Trust Wallet. From there, you just search, and either ETH or any other ERC-20 token (as long as you have some ETH for gas) you can swap for the $NEXO token. More info here. I mean how easy is that?
How to Use Metamask to Buy NEXO
The Metamask Option is a little more involved so I will show you how that works. I’m not going to walk through how to set up a Metamask wallet today as many of you use it and it’s not hard to do if you go to metamask.io and download it for your browser of choice. As the most popular Web3 wallet, they make it pretty easy to set up. You can reference this article if you want a guide on setting that up.
Now we are going to combine Metamask with one of the best DeFi protocols, Uniswap. And you can do this swap no matter where you live as no KYC is necessary here. Here’s the daily volume for the NEXO/ETH pair on Uniswap. We are going to go over all the steps right here and show you a video on how easy this is to do.
- Buy or move some ETH: This does 2 things: Helps us complete the transaction and pays for gas. Remember $NEXO is an ERC-20 token so that means we need some ETH to pay for gas.
- Go to Uniswap: launch the app, and connect our Metamask wallet to it. Your Connect Wallet screen will look like this. Here is a video about this step.
- Swap ETH for NEXO: When your wallet connects, we are going to swap ETH for $NEXO since $NEXO is an ERC-20 token. This is what that screen looks like. Here is a video about this step.
- View the Transaction on Etherscan: You can do it by searching your Wallet address that starts with 0x and/or you can search the contract address for Nexo/ETH on Uniswap. And that’s right here. You do have to search in the ERC-20 Token Txns Section to see yours. Here is an example.
Add Nexo to your Metamask Account:
This way you can see your tokens in your metamask wallet and you can import them. You should see your $NEXO token balance in your wallet. Here is an article for more information.
We ushered in a new level of usability for our products by setting up MetaMask as a single-click top-up source, making it possible for users to interact with their on-chain wallet. 3/4
— Nexo (@Nexo) July 28, 2022
Now, we want to use our Nexo tokens to increase our tier and rewards on the platform. How do we do that? Let’s move them.
6. Login to NEXO and copy our Nexo token wallet address: Send our Nexo from Metamask to the Nexo platform. Then, we click “Send” from MM and paste the address so we send the coins to the right place. Or you can take advantage of Nexo’s direct integration with Metamask Now we are sending our coins to Nexo. Here is a video about this step.
7. Go back into Nexo and see that our account received the tokens: We transferred 6.54 $NEXO in this transaction. Then your status should upgrade from Base to Platinum. Here is a video about this step.
Now whether you upgrade to Silver or Platinum depends on the % of your portfolio that is in $NEXO tokens. At Platinum, the highest level, your benefits include:
- A 50% reduction in interest rates if you borrow $$.
- Cash back from using the Nexo Exchange.
- Higher Earnearned interest rates.
- More free crypto withdrawals per month.
So, if you like using the Nexo platform, then it makes sense to collect some $NEXO tokens and get the added benefits that come along with it. And that’s how you can buy the $NEXO token or many other tokens available on Uniswap no matter where you live and how restrictive your government rules are.
All you have to do is go to Nexo.io and sign up for a new account today. Check it out!
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