Take a Peek of Earn On Crypto, a Recent Launch by Nexo

Take a Peek of Earn On Crypto, a Recent Launch by Nexo

About Nexo’s Earn on Crypto

Nexo has launched the much-anticipated Earn on Crypto, giving clients the opportunity to earn up to 5% interest on their crypto, including BTC, ETH, XRP, XLM, LTC, BCH, EOS, and up to 10% on their stablecoins and fiat, including USDT, USDC, DAI, TUSD, PAX, EUR and GBP. More assets will be added over the coming months.

In providing superior yields with interest paid out daily, as compared with the crypto lending market’s standard weekly and monthly interest payouts, Nexo’s latest product currently stands as the most competitive product in its category.

 

Benefits of Earn On Crypto:

  • Earn up to 5% interest on cryptocurrencies
  • Earn up to 10% interest on fiat currencies and stablecoins
  • Compound interest paid daily
  • No limits on funds deposited, offering infinite opportunities to earn
  • Full flexibility, with no lock-in periods and withdrawals at any time
  • No minimum contribution requirements and all transactions at #ZeroFees

 

Security & Earn on Crypto’s Market Logic

Earn on Crypto is native to and fully benefits from Nexo’s sustainable business model, which thrives in any market environment. They also believe it is important that their clients know how the yield they receive on their assets is generated.

As with all their products, they are proud to have developed an unrivaled, cutting-edge proprietary solution, which capitalizes on inefficiencies via market-neutral strategies to provide clients with superior yields on their crypto wealth.

As a regulated financial institution at the forefront of innovation, Nexo has a fiduciary duty with regard to the security of clients’ funds.

The security of clients’ funds is Nexo’s utmost priority:

  • All funds are asset-backed by Nexo’s growing portfolio of overcollateralized Instant Crypto Credit Lines™, further insuring all interest-earning assets
  • Top-tier insurance on all custodial assets
  • Military-grade security including cold storage in Class III vaults for custodial assets through the SOC 2 Type 2 certified crypto custodian BitGo
  • Nexo’s information security management systems are ISO/IEC 27001:2013 compliant after extensive audits, inspections, and checks by CISQ, a member of IQNet and the world’s largest provider of management system certification

 

What’s New

To ensure Earn on Crypto delivers a completely intuitive and seamless experience, the Nexo Wallet is now separated into a Savings Wallet and a Credit Line Wallet.

Please note that this does not affect your eligibility for Nexo Dividends and you will receive the same benefits as before for holding NEXO Tokens.

 

Savings Wallet

Assets placed in your Savings Wallet earn up to 10% interest automatically compounded daily. Savings Wallets can be topped up with assets that can later be moved to the Credit Line Wallet to be used for credit lines.

Migration of existing assets: Аssets not used as collateral for a credit line before June 16, 2020, were placed into your Savings Wallet.

Assets being used as collateral at the time of migration (June 16, 2020) were moved to your Credit Line Wallet via internal transfers that appear in accounts’ Transactions tab.

This is an automatic update and no action is required on clients’ behalf.

 

Credit Line Wallet

When a client requests an Instant Crypto Credit Line™, Nexo automatically transfers the necessary collateral from the Savings Wallet into the Credit Line Wallet. Тhis wallet can only be topped up by transferring assets from the Savings Wallet. Assets held in your Credit Line wallet and, as such — used as collateral, will not earn interest.

Automatic Collateral Transfer: During volatile markets, should the assets in your Credit Line Wallet not cover the required loan-to-value ratio for an existing credit line, the Automatic Collateral Transfer feature instantly moves assets from your Savings Wallet to your Credit Line Wallet, protecting your crypto. This option can be enabled and disabled via the Nexo web and mobile apps.

This is an automatic update and no action is required on clients’ behalf.

 

NEXO Staking Bonus

If at least 10% of the USD value of the holdings in your Savings Wallet are in NEXO Tokens, you will automatically receive 10% interest on your stablecoins and 5% interest on cryptocurrencies — a 25% bonus on your deposit compared to the standard rates of 8% and 4% respectively.

Additional information about Nexo’s new bonus rates is available in their support article.

 

Crypto Withdrawal Limits

To ensure the safety of their clients’ assets, they have introduced new withdrawal limits, in accordance with industry best practices. Please check the updated terms here and do not hesitate to contact their Support Center to request higher limits.

To get acquainted with the full details of Nexo’s Earn on Crypto mechanism, visit their dedicated Earn on Crypto support page.

 

More Information & Support

For detailed information about how to make the most of your idle assets with Nexo’s Earn on Crypto, check out their dedicated support page.

The News Originally First Appeared On Medium

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Nexo

The World’s First Instant Crypto Credit Lines ™. Powered by Credissimo - A Leading FinTech Group serving millions of people across Europe.

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