How to Buy Nexo (NEXO) in 3 Simple Steps
How to Buy Nexo (NEXO) in 3 Simple Steps
Nexo is a crypto lending platform that allows lenders to earn interest on cryptocurrencies like Bitcoin, Ethereum, and Solana while borrowers can take out fiat by using crypto as collateral.
This page will tell you everything you need to know on Nexo, where you can buy it, and how you can earn interest on it.
3 Steps to Buy NEXO
1. Choose a broker or exchange
You will have to set up an account with a broker or exchange to start buying Nexo. As security and ease of use will likely be important to you, we suggest you choose from one of the reputed platforms we have picked out for you below.
2. Create and fund your account
Once you have logged in with your chosen broker or exchange, you will probably have to provide some form of documentation such as a driving license or passport so you can authorise your identity. Completing this step will let you deposit money onto your account using methods such as PayPal, Visa, or Mastercard.
3. Buy Nexo
If the money deposited in your account is in British Pounds, you’ll have to choose the NEXO/GBP trading pair to buy your first Nexo coins. You can make this purchase at any time of the day because the crypto market is open 24/7.
Buy Nexo in just a few minutes
Create a free account
Fund your account
Start trading Nexo
Why trade Nexo with a broker?
Fast and simple.
Trades are instant and easy to execute.
Pay your way.
Brokers accept a range of payment options including credit/debit cards and even PayPal.
No wallet needed.
No need to set up and maintain a wallet—you can manage your crypto directly from your account.
Where to Buy Nexo: Compare the Top Platforms
Most people will have a variety of brokers and exchanges to select from when looking to buy Nexo. Users can also buy Nexo on its official website that is accessible through your computer or smartphone. Below you will find a list of the best places to buy Nexo when it comes to some of the things you’ll be looking for: low fees, convenience, and data security.
What Is Nexo?
Nexo is a platform that gives you the opportunity to earn interest on your crypto by lending out coins like Bitcoin and Ethereum for certain amounts of time. Meanwhile, borrowers can take out low-interest cash loans from Nexo by putting up their crypto holdings as collateral.
Nexo operates as any regular bank would, but the only difference is that it primarily deals in cryptocurrency. Unlike some of Nexo’s competitors, like BockFi, loaners can withdraw and reinstate their deposits however many times they would like without carrying any additional costs. This makes it one of the most user-friendly crypto-lending platforms around.
Lenders also receive higher interest rates if they hold the platform’s native token: NEXO. Likewise, borrowers see discounts on the interest rates they must pay back if they choose to pay in NEXO. Users additionally have the option to both lend and borrow crypto at the same time should they wish to.
Ways to Invest in Nexo
Investors can either choose to invest in NEXO for short periods of time in search of quick profits or longer durations depending on the financial targets they set themselves.
Buy and hold Nexo
Buying and holding onto NEXO tokens is the most common strategy among investors that seek to see their portfolios gradually accumulate over the long term. This is an easy method of producing profit that requires little effort and application.
Best Nexo wallets
You can take sole responsibility for your NEXO tokens by storing them on software wallets or proven hard wallets like Trezor, BitBox, and Ledger. This is opposed to leaving your crypto in web wallets on exchanges that take custody of your crypto for you but may be vulnerable to malware attacks.
Additionally, NEXO-holders can also make use of the savings facilities offered by the Nexo platform. This includes the Nexo debit card that can be used to store crypto as well as make purchases with it.
Some investors like to capitalise on the volatility of the price of NEXO by trading it on the open market. But predicting swings in the price of NEXO can be a tedious strategy and even sees the pockets of the most successful traders short of change.
Traders find it easier to use web wallets to store their NEXO instead of hardware and software wallets. This is because making the right trades has to be a seamless process that can be undermined by having to periodically transfer tokens back and forth between a private wallet and an exchange wallet.
Should I Buy Nexo Now?
Buying Nexo now can be a profitable financial decision but does not come out without potential which you should keep in mind. It is important to always do your own research before making an investment. With this in mind, here are some aspects we have identified that may help you decide whether to buy Nexo or not.
Since launching in 2018, Nexo has emerged to become one of the world’s most successful crypto-lending platforms. Its meteoric growth continues to bring in more users, more assets under management, and more attractive interest rates every day. This is evident from the coming launch of the Nexo debit card which may also boost demand for – and the value of – NEXO tokens.
Nexo has also looked to cement its position above its rivals by exploring routes to escape unwanted scrutiny by financial conduct authorities in the US. This was made possible by Nexo’s acquisition of Texture Capital, a Securities and Exchange Commission (SEC)- licensed broker, which would in theory give them some protection if a crackdown were to arise on the crypto industry in the US.
Nexo also recently announced that it will be reducing the supply of NEXO in circulation by periodically buying up to $100 million worth of the coin in the coming times. It is possible that this could cause a supply crunch in the market and register a rise in the price of NEXO because of the growing demand for it.
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Frequently Asked Questions
Nexo was founded by Kosta Kantchev and Antoni Trenchev in 2018 and is a subsidiary of the European fintech company Credissimo.
You can deposit a wide range of cryptos such as Bitcoin, Ethereum, and Dogecoin to earn interest on your holdings using Nexo.
You receive the highest interest rates on the native Nexo coin, followed by stablecoins, and then other cryptos.
Stablecoins such as USDT are digital currencies tied to the value and performance of national currencies like the dollar or the British pound.
The SEC is the most recognised regulatory authority in the US in regard to financial conduct, trading, and asset management.