HomeLatest NewsNexo Exchange adds support for Cosmos’ ATOM

Nexo Exchange adds support for Cosmos’ ATOM

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  • Nexo offers three key benefits to its users- high yields, instant exchange, and collateralized loans.
  • Borrow instantly against ATOM at rates as low as 0% APR.

The Nexo Exchange now offers support for ATOM, the native token on the Cosmos blockchain, with users set to access several benefits key to improving their investment in the cryptocurrency.

According to a news statement shared with CoinJournal, the integration allows for a direct fiat to ATOM purchase, giving users a chance to buy the coin with crypto and with fiat through their Visa or Mastercard debit and credit cards.

Trading support will be in three crypto pairs (Bitcoin, Ethereum and stablecoin Tether (USDT)) as well as fiat currencies (USD, EUR and GBP).

This will be ATOM/BTC, ATOM/ETH, ATOM/USDT, АТОМ/USD, ATOM/EUR, and ATOM/GBP, with more to be added over time.

Earn up to 11% interest on ATOM

With the addition of the ATOM token to Nexo, customers of the regulated digital asset platform will benefit from a range of tools and products meant to add value to their portfolios.

Buy ATOM and start earning interest on holdings, with yields of up to 11%. The payouts are released daily. The yield depends on a user’s loyalty tier, with Platinum offering up to 11% and the Base tier offering up to 7%.

According to Nexo, ATOM holders can boost their interest rates by opting for a Fixed Term feature in three levels of Silver, Gold and Platinum. To add to the interest even further, users can choose to receive their payouts in NEXO tokens via the Earn in NEXO feature.

Access ATOM-backed credit

ATOM holders can access this feature by opening a credit line. What does a standard Nexo credit line offer?

  • Interest rates as low as 0% if the loan is borrowed on a loan-to-value (LTV) of under 20%.
  • A permitted LTV of up to 33%
  • Borrow as little as $50
  • No credit checks
  • No monthly repayments
  • No origination fees
  • Near-instant approval and settlement

Instant Exchange

Get ATOM by converting other digital assets such as Ethereum and USDT instantly and seamlessly on the Nexo Exchange.

According to Nexo, users have a chance to also benefit from a loyalty program of up to 0.5% in cashback payouts when buying ATOM on the exchange. The Nexo team also plans to have ATOM top-ups and withdrawals added as soon as possible.

ATOM price

Cosmos has traded lower over the past 24 hours as the broader crypto market battles bearish pressure seen for much of 2022. The ATOM/USD pair is down 3.7% at around $26.10, with weekly losses of 17% offering interested investors an opportunity to buy low.

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