1 Level
95 Review
314.75 Karma
Review on Nexo by Patejl Patejlson
NEXO - saving account (better than bank)
Nexo is one of the platform I am using and think it suits perfectly my needs. The best possible way how to use it is to deposit supported cryptocurrencies or fiat such as EUR. The deposit limit for EUR is quite high but on the other hand having 10 % on fiat is perfect because no bank will give you this. Their loan are pretty expensive (almost same as bank levels) but it does not bother me as i am using the platform as saving account. They have recently introduced option to get higher APY and get rewards in theri native token NEXO which will give you the dividends from platform earnings. This is the option I am using right now. The best thing is that whenver you want to move your crypto or fiat to an exchange or bank account you will not pay a single penny. I am usually keeping all my crypto here and if there is a surge I will move it for free to some exhange and sell for stablecoins or fiat. Are you looking for opportunity to get higher interest on your fiat than in banks, this is the right choice.
Pros
- zero withdrawal fees
- high interest
- dividends on NEXO token
- interest on fiat
Cons
- expensive loans
