I know you all like decentralized finances just like me. But today let me tell you the benefits of a private company issued utility coin called NEXO. The company itself provides classic financial services like cheap loans and interest on the money you keep there.
Loans
They are different in that they accept cryptocurrencies as a collateral for loans. If you have crypto you can take out loan. Also big difference from banks is they only want interest for the days you owe them. No whole-year or whole-month interests.
Savings
If you want to earn with your crypto, you only have to deposit it and you get nice earnings paid out daily. They have the option to earn in the same kind you own or NEXO token. If you choose earn in Nexo, you will get an extra 2% additional interest.
Credit card
They are testing the Nexo Card, which is a standard Visa credit card. You will be able to spend your money anywhere Visa cards are accepted. This is essentially the same as their loan, so you simple use your crypto balance as collateral to back your daily purchases.
NEXO Token
And the best part? Nexo issued a token for various purposes. First, they have multiple subscription tiers. This means that the more percent of your portfolio is in Nexo token, the more benefits you get.
| Base | Silver | Gold | Platinum | |
|---|---|---|---|---|
| Borrow interest | 11.9% | 10.9% | 8.9% | 6.9% |
| Crypto Earn interest | 4% | 4.25% | 4.5% | 5% |
| Fiat Earn interest | 4% | 4.25% | 5% | 6% |
| Stablecoin earn interest | 8% | 8.25% | 9% | 10% |
And the icing on the cake: Nexo pays 30% dividends every year to their token holders. I missed last time, but you bet I won't miss this year!