- Nexo is up 0.26% in the last 24 hours.
- Live Nexo price today is USD 2.67
- Nexo also distributes 30% of its profits to NEXO token holders in the form of dividends.
The current Nexo price is USD 2.67, with a 24-hour trading activity of USD 13,347,337. They change our NEXO to USD pricing in real-time. Nexo is up 0.26 percent in the last 24hrs. The current CoinMarketCap position is #78, with a live market cap of $1,493,486,607 USD. It has a ready to grab of 560,000,011 NEXO coins and a maximum supply of 1,000,000,000 NEXO coins.
Nexo is a blockchain-based banking company that provides consumers with fast cryptocurrency-backed loans. Customers deposit an approved token, including such Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or XRP (XRP), as collateral to get a loan in the shape of a fiat currency or stable coin.
Nexo offers a native token, NEXO, that grants customers perks such as interest savings on loans and the ability to earn interest payments on cash invested when secured in the network. Token holders also make profits through Nexo’s profitability.
Nexo was founded by a group of financial analysts and crypto enthusiasts. It transformed to blockchain to create the crypto equivalent of a service well established in traditional finance. But previously unavailable in digital finance: having to borrow against the value of your investments while maintaining ownership. In 2018, the team created the Nexo platform, which provided the world’s first crypto credit lines, allowing digital asset owners to get fiat and stable coin loans against the cryptocurrency, laying the groundwork for the crypto lending niche.
According to its whitepaper, Nexo is the first supplier of rapid cryptocurrency-backed loans and seeks to address inefficiencies in the lending system. Its automated lending procedure manages loans using smart contracts as well as an oracle on the Ethereum platform. When a user sends bitcoin to a Nexo-controlled wallet. The prophet initiates the loan and also the funds are promptly assigned to the user. When the user has deposited to pay back the loan, the oracle refunds the cryptocurrencies and registers the transactions on the blockchain. Intelligent contracts are utilized to power NEXO and also to record user balances.
Nexo aims to establish several customers who continue to utilize the platform and stay invested in NEXO. As a result, the company created a loyalty program that rewards all who retain NEXO in their account by providing better interest rates on loans and higher yields on savings. Nexo also pays out 30% of its income in dividends to NEXO investors holding.
