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Nexo Cuts Borrowing Rates To 5.9% APR After New Financing

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The crypto news today feature the leading crypto lending project Nexo (NEXO) which is pleased to announce that having secured long-term cost-efficient financing, the project managed to significantly lower the rates on its signature Instant Crypto Credit Lines to the benefit of its customers. As Nexo cuts the borrowing rates, it now has one of the lowest APRs (Annual Percentage Rates) in the blockchain space.

The details show that the APR on Nexo’s Instant Crypto Credit Lines now starts at only 5.9% without any hidden fees, no minimum repayment requirements and no credit checks. This ensures maximum flexibility for clients to borrow against their crypto assets in more than 40 fiat currencies across more than 200 jurisdictions.

Unlike most of the lenders in the blockchain space, Nexo cuts its borrowing rates and instead of charging up to 4% in origination fees plus 5% to 13% in liquidation fees, the project conducts business without any additional charges as an extension of its #ZeroFees initiative.

The Nexo crypto news also show that the rate cut is a result of the company and its ongoing effort to bring down the funding costs by deploying the network of financial partners and access to institutional liquidity. The lowered interest rates on the Nexo Instant Crypto Credit Lines mean a larger volume of business. As Nexo cuts these borrowing rates, the result will be ever-growing dividend payments for NEXO Token Holders.

Regardless of the reduction of these borrowing rates, the interest for Nexo and its ‘Earn Interest’ product still remains at 8%. This means that clients will continue to benefit from the current high-yield interest on their idle assets.

Nexo always strives to further improve the rates for its user base and currently surpasses 300,000 people worldwide. The project is offering credit lines with a minimum amount of $500 and up to $2 million. This is one of the many milestones along the road to make the decentralized financial services even more inclusive.

For all of the people who don’t know, all of the Nexo products are fully automated and offer an incredibly intuitive user experience with a flexibility to fit the individual financial needs of a global customer base that now counts more than 300,000 users. This is why Nexo cuts on the borrowing rates and is apparently interested in dropping them even further.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Nexo News

Nexo Token Surges 4% Overnight As Lending Gets More Popular

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The Nexo token is one of the cryptocurrencies we have reviewed before as a prosperous one and one offering instant loans frozen in digital currency. The latest Nexo coin news show that the coin has gained 4% overnight and is now trading at $0.18 at the 60th position. Even though the Nexo token does not have a massive market cap, it is definitely one of the cryptocurrencies to watch out for. As you probably know, the main objective of the development of this project is to single out the provision of banking services on a decentralized basis of the blockchain. In addition to the functioning of internal cryptocurrency and fast transactions between users, the possibility of lending as the Nexo token is very much highlighted. What's also important is that the Nexo token is the world's first SEC-compliant and dividend-bearing token with asset support and a high level of security and other protection functions for unskilled investors under the United States laws and other countries. Additionally, the Nexo ERC-20 standard is based on the Ethereum blockchain. The key features of the token, as the Nexo coin news show, are:
  • Discounts - provided to token holders who repay interest on loans with Nexo tokens
  • Increase in overdraft limits - tokens can be used in overdraft wallets in order to receive financing based on the cost of tokens (instantly)
The Nexo token project was founded in 2017 and since then, the team behind it has been demonstrating an unconditional commitment to deadlines. Speaking of, there are two main figures in the team which are known in the blockchain news too - one of them is Michael Arrington who is the founder of TechCrunch and the other is Trevor Koverko, the founder and CEO of the financial instruments company Polymath. Aside from these two geniuses as part of the team, the project is also supported by Credissimo which is a fintech lending support platform based in Europe that has served millions of customers over the past decade. All of this shows that the Nexo coin news in the future are going to be much more exciting and that with a price of $0.18, NEXO has the current potential to visit new highs at $0.20 soon.
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Nexo News

NEXO Introduces 50% Discount On Crypto Credit Lines Starting Tomorrow

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NEXO introduces a 50% interest discount on the instant crypto credit lines starting tomorrow, February 10th, and with the upgrade, the company said all of the holders will see gains as the Nexo token will experience a ‘’notable boost in its utility features’’ so let’s read more in the nexo news today. According to the company announced a few days ago, the customer wallets will have to have enough tokens in order to get the 50% discount in order to cover the interest for the entire period from the moment of withdrawing funds from the credit line to their desired moment of repayment. The customers that already staked their own NEXO tokens for only a portion of the length of their loan, will collect on the discount that corresponds with the days that are calculated in the loan. The customers that will like to see more benefits from the new Discount can also now use Stellar, USD, EOS, NEXO, AUD and Bitcoin but also Litecoin, XRP, EUR, and Bitcoin cash. There will be more altcoins coming soon for making repayments using all of the assets accessible for the users on the platform. NEXO introduces this discount in order to help the customers and owners benefit more from the token. Apart from that, it will allow the holders to collect much bigger dividends. The company says that it had already allocated more in profits than all others in the blockchain ecosystem. The dividend yield NEXO says that it has already reached an impressive 12 percent that surpasses the highest dividend-paying stocks in the S&P500. Also, ‘’this will balance market volatility and will result in a higher, more stable demand for NEXO tokens.’’ The company says that they will also upgrade the platform more so that the long-term investors confidence will be increased by attracting customers to stake their NEXO tokens over a longer period which will also lower the market supply. The 65th largest cryptocurrency has about 560,000,011 NEXO tokens in circulating supply and at the time of writing, the NEXO/USD pair was trading at $0.139897 with 24 hours gains of 3.56%. If the NEXO supply gets reduced while the demand stays the same or slightly increases, the price will increase as well.
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Nexo News

How Nexo Is Leading The Race In Crypto-Backed Loans

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If you are an avid follower of our altcoin news section, you have probably heard about the cryptocurrency Nexo which is linked to loans in the crypto industry. In 2019, we have talked about Nexo dropping its borrowing rates to 5.9% and guided many into the concept behind this interesting altcoin. Today, you will learn how Nexo is leading the race in the crypto loan business and why it is one of the most popular coins in that department. Generally speaking, taking the loan against cryptocurrency is a very convenient process unlike many banking practices. There is not much effort required when applying for the loan, processing the loan and finally - receiving the loan. So, how Nexo is doing all of this? The platform is very convenient and benefits people who urgently need money and want fast processing of their loans. To do this, one needs to open an account with the loan providing agency and then deposit the required crypto assets in the account of the service provider. Once the assets are approved, a credit line will become visible on your account. This can be used to apply for the loan of the requisite amount with a lot of service providers also giving the option of direct withdrawal of the money to the bank account of the beneficiary. If you are still wondering how Nexo does all this and what is the benefit, there are many. First and foremost, it is the simple and fast process which takes the log-ins and everything else out of the picture. You get the money fast and there is no requirement of any other collateral except from the crypto assets. Another very important benefit of availing such loans is the fact that you can continue to remain the respective owner of your crypto assets and once you return the loan amount, you can take back the ownership of your digital assets. One can literally apply for the loan and depending on the value of their cryptocurrency get the amount sanctions by the approving authority in as little as a couple of minutes. This is how Nexo has been leading the crypto loans race for some time now.  
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Nexo News

Nexo Lowered Down The Rates On Its Signature Crypto Credit Lines By 5.9%

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Nexo lowered down the rates for the signature instant crypto credit lines by 5.9 percent according to the latest announcement that we have in our Nexo crypto news. The leading crypto lending institution was very pleased to announce that it secured a long-term cost-efficient financing method by cutting down the rates on the credit lines to the benefit of the customers.  The company also offers one of the lowers annual percentage rates in the blockchain space. The APR on Nexo’s instant crypto credit lines are now offered at only 5.9 percent with no hidden fees and no minimum repayment requirement and also no credit checks which will ensure maximum flexibility for clients to borrow against their crypto assets in more than 40 fiat currencies across 200 jurisdictions. Unlike most of the lenders in the blockchain industry that charge up to 4 percent in origination fees and 5-13 percent fees for liquidation, NEXO does business without any additional charges as an extension of its zero fees initiative which is why nexo lowered the fees in the first place. The rate cut is the result of the company’s ongoing effort to bring down the funding costs by simply utilizing the extensive network of financial partners and access to broader institutional liquidity. The lowered interest rates for NEXO’s instant crypto credit lines mean a bigger volume of business which will ensure ever-growing dividend payments for the token holders of the asset. Despite the reduction of the rates, the interest in Nexo’s Earn Interest product remains 8% meaning that the clients will continue to benefit from the current high yield interest. Nexo aims to improve the rates even further for its user base and it currently surpassed 300,000 people across the world and even offers credit lines with a minimum amount of $500 and up to $2 million which is one of the major milestones for the company aiming to make decentralized financial services more inclusive.  The improved interest rates guarantee that cutting-edge products are utilized by an even-wider audience across the world. One of the many examples is the first crypto-backed mortgage issued by Nexo. The platform is the blockchain's leading regulated financial institution and the only provider of instant crypto credit lines.
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