Hodlers of LUNA can now buy, swap, earn, and borrow with Nexo’s platform
News reports that LUNA is now listed on the Nexo platform giving users a chance to enjoy many benefits. With this initial launch, purchasing assets via the Nexo Exchange is the only way Nexo users can add LUNA to their Nexo wallets.
LUNA is the native token of Terra, an April 2019 launched project intended to provide an open-source blockchain protocol. The token stabilizes the price of all Tera’s stablecoins while providing holders with staking rewards as well as voting rights for governance.
Per project mechanics, when you buy LUNA on the Nexo exchange the tokens go directly to your wallet. Users can also grow their LUNA wealth in such a way that is safe and secure over the platform. This earning option comes with sizable interests of up to 8% paid out daily on their LUNA and is made possible courtesy of Nexo’s Earn Crypto Interest suite. All that is required is that you top up your tokens and you start earning passive income immediately.
Users can also use Nexo for exchange purposes. With this provision, it follows that swapping your LUNA on the platform gets you instant cash back. Other than the three, there are also buying privileges to be enjoyed where LUNA holders can borrow against their tokens at rates as low as 0% Annual Percentage Return (APR).
The borrowing feature holds that you can borrow cash as well as stable coins through Nexo’s Instant Crypto Credit LinesTM. To do this, your LUNA serves as collateral charged at a very small rate. It’s even better for Gold or Premium tier Nexo clients as they are liable for a 0% APR on their LUNA-supported credit. Borrowing is from as low as $50 to as high as $2 million with no credit checks required. Moreover, borrowing requests are processed and approved almost immediately and borrowers can clear their debt in full or in part whenever they are ready.
The process of buying LUNA on the Nexo exchange has been simplified and can be executed in the touch of a button. To achieve this, users navigate to the Nexo wallet, provide bank details, and make the purchase immediately and effortlessly.
Among the available market pairs that Nexo features for LUNA include: LUNA/USDT, LUNA/USDC, LUNA/BTC, LUNA/BNB, LUNA/USDx, LUNA/EURx, and LUNA/GBPx. Committed to providing users with even more offerings, developers are working hard so that the platform can also offer LUNA top-ups as well as withdrawals within the shortest time possible.
Recommended for you
