The live price of Nexo is - per (NEXO / USD) with a current market cap of $821.95M USD. 24-hour trading volume is - USD. NEXO to USD price is updated in real-time. Nexo is -% in the last 24 hours with a circulating supply of 646.15M.
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Nexo was launched in 2018 with an initial focus on overcollateralized lending. Since then, the company has expanded its scope to become a comprehensive platform that provides digital asset management services. Nexo aims to enhance the value and utility of cryptocurrencies through a variety of services, including building advanced trading platforms for retail and institutional investors, aggregating liquidity from high-quality sources, and asset-secured credit lines for tax optimization.
Nexo's instant crypto credit line allows users to easily obtain loans in more than 40 fiat currencies or stablecoins using their digital assets as collateral. The entire process is fully automated and loans are available immediately. In addition, Nexo has launched interest-earning products, providing daily compounding and zero-fee deposits, withdrawals and top-ups. The platform also launched a "swap while earning" service, which allows users to exchange their interest-earning cryptocurrencies for potentially higher-yielding assets.
Uniquely, Nexo integrates a variety of cryptocurrency management tools, including the world's first cryptocurrency-backed credit card in partnership with Mastercard. With this card, customers can use the equivalent of their cryptocurrency in fiat currency without having to sell their cryptocurrency holdings. Its trading platform, Nexo Pro, offers advanced trading options, supports more than 400 market trading pairs, and uses smart order routing to ensure deep liquidity on leading trading platforms.
The NEXO token is an Ethereum-based ERC-20 token. As the platform's proprietary currency, it provides holders with the opportunity to participate in the Nexo loyalty program. The token can be traded on the open market and has many advantages, including preferential loan rates, trading rewards, free withdrawals and high yields.
Founded by financial experts Kosta Kantchev, Antoni Trenchev, and CFA Kalin Metodiev, Nexo was launched in late 2018 after raising $52.5 million in a private token sale. The founders have used their expertise to build Nexo into a well-known player in the fintech and cryptocurrency space, with regular appearances in major financial news outlets.
The NEXO token has multiple uses within the NEXO platform, driving user engagement and providing financial benefits. With the token, users can earn interest on the storage of digital assets, receive discounted rates on crypto-backed loans on the platform, and participate in governance by voting on key platform decisions. In addition, holding NEXO tokens can help users increase their savings yields and reduce credit rates. The token is designed to incentivize participation and investment within the NEXO ecosystem, thereby driving the platform and providing a value proposition for users.
NEXO has a circulating supply of 560,000,011 and a total supply of 1,000,000,000.
Nexo is built on the Ethereum blockchain and uses Ethereum's consensus and validation mechanisms. Ethereum currently uses a proof-of-stake (PoS) model, which is maintained by validators rather than miners. Validators are selected by the system to create blocks and validate transactions based on the amount of cryptocurrency they hold and are willing to "stake" as collateral.
On the Nexo platform, transactions are processed and validated according to Ethereum's underlying PoS consensus rules. This means that the security and integrity of Nexo transactions are supported by the decentralized network of validators that secure the Ethereum blockchain, ensuring that transaction records are accurate and immutable.
Nexo stands out in the sea of digital asset management by creating a comprehensive suite of financial services tailored for the cryptocurrency space. Unlike other competitors, Nexo offers a unified ecosystem that includes instant crypto-backed loans, interest-earning accounts, an efficient trading platform, and a unique Nexo Card that allows you to use crypto without selling your assets. In addition, the platform leverages the Ethereum blockchain to provide a secure and transparent environment. Combining traditional financial services with cutting-edge cryptocurrency features (such as the first-ever crypto-backed credit card), Nexo aims to provide differentiated products and create a full range of solutions for global cryptocurrency investors and users.
The Nexo to other currencies exchange rate?
