NEXO Price Prediction

Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans.

Users deposit an accepted token — such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) or XRP (XRP) — as collateral to receive a loan in the form of a fiat currency or stablecoin. Nexo has a native token, NEXO, that when locked in the platform grants users benefits such as discounts on interest accumulated on loans and the opportunity to receive interest payments on funds deposited. Token holders also receive dividends from Nexo’s profits. This has led to an increase in NEXO price.

Earn Daily Interest

Earn daily interest on your crypto and EURx, USDx and USDx. You can earn up to 12% interest on your crypto assets. This interest is given out daily. You can add and withdraw funds anytime without lock up. 

Insurance

NEXO has a $375 million insurance on all custodial assets.

Early Mover Advantage

Nexo is the first-ever provider of instant cryptocurrency-backed loans and it intends to solve inefficiencies in the lending market. Its automated lending process uses smart contracts and an oracle on the Ethereum blockchain to manage loans. After a user transfers cryptocurrency to a Nexo-controlled wallet, the oracle establishes the loan and the user is instantly allocated the funds. When the user makes a deposit in order to repay the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain. Smart contracts are used to power NEXO and to record user balances.

Let us review NEXO Price.

NEXO Price Prediction

NEXO is currently trading close to the resistance zone at $1.84. If it can break this resistance, we could start seeing a move towards $1.92, $2.00, $2.26 and $2.68. If it cannot break the resistance at $1.84 and $1.92, we could start seeing a move towards $1.68, $1.58 and $1.50.

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Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinons relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

 

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