Instant credit line with Nexo
Published On : 2019-03-25 16:23:33
Nexo instant credit line
Nexo conducted a succesfull airdrop & private pre-sale last year. They now have several exciting updates about their products.
Official announcement by Nexo:
Nexo’s instant credit lines give investors access to instant cash using their crypto as collateral without having to sell while maintaining the upside potential of their digital assets.
1. Minimum loan amount of just $500, maximum is $2M
2. Interest rates start at 8% per year (APR).
3. No origination or hidden fees
4. Automated approval, no credit checks
5. No minimum repayment requirements
6. Insurance on Cusotidal Assets covering up to $100M via BitGo’s arrangement with Lloyd’s of London
Apart from giving crypto fans the best of both worlds, the strategy is incredibly tax-efficient, as borrowing rather than selling does not trigger taxable events and postpones tax liabilities.
The enormous demand for Nexo’s instant loans has prompted the company to launch its ‘Earn Interest’ product which guarantees:
1. High-yield savings & passive income with an interest rate of up to 6.5% per year
2. Interest compounding daily, starting from Day 1
3. Available now for DAI, PAX, USDC, USDT and TUSD with more assets coming soon
4. No fees. No minimum contribution requirements
5. Crypto custodian insurance policy of up to $100M
6. All funds are asset-backed by Nexo’s growing portfolio of overcollateralized crypto credit lines
The ‘Earn Interest’ product is fully automated and takes three easy steps:
1. Go to your personal or business secure Nexo Wallet
2. Add crypto assets you would like to earn interest on
3. Enjoy your high-yielding passive income as the increasing daily interest accumulates in your Nexo Wallet