Review on Nexo by Fanuel PORPORTY
NEXO, the instant crypto loan service
The Nexo project was launched by Credissimo. Founded in 2007, this company specializes in online lending to individuals and is currently deployed in several European countries. The company wanted to diversify its offer by offering its customers to pledge their crypto assets to obtain credit.The NEXO token is indeed considered a security token. Although it has a utility for borrowing (which could have made it a utility token), it allows its owners to receive dividends on the profits of the company
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Pros
- In addition to loans, the other benefit of depositing cryptocurrencies in your Nexo account is the ability to receive interest and dividends.
- the initial ownership of the digital assets is protected and ensured by transparent smart loan contracts, which cannot be changed in any way once recorded in the general ledger of the blockchain.
Cons
- a first negative point of Nexo instant loans: they require a significant guarantee compared to the authorized loan, at least of the order of double.
