Where To Buy Nexo Tokens

Nexo is one of the world’s biggest crypto lenders. The platform is equipped with quality infrastructures designed to protect assets at all times. It has a $775 million insurance on custodian assets and performs third-party audits by Armanino. Not only this, but it also uses military-grade class III vaults to secure its assets. But if you’ve traded cryptocurrencies for a while, you would understand that all of these do not mean you can’t lose your money. 

Trading in the financial market is a risky business. Beyond inherent errors, human errors like sending tokens to a wrong address without reversal exist. Therefore, you must perform due diligence before buying tokens. In this article, we will discuss what Nexo tokens are and where you can buy them. 

What are Nexo tokens? 

Nexo is a platform that grants instant crypto loans and fast access to cash to maintain one’s ownership of digital assets. Nexo tokens are used as a source of discounts and benefits. The token is a native of the Nexo platform and makes up the core of the Nexo blockchain-based system, whose core activity is instant crypto-backed loans. 

Unlike fiat money, Nexo does not require credit scores to grant loans. The users only need to deposit supported crypto tokens into their Nexo wallets and ask for a loan. Nexo currently supports more than 20 popular cryptocurrencies, including Bitcoin and ETH. 

Should You Hold Nexo Tokens? 

Nexo token holders receive up to a 12% annual interest rate on the token held in both the Savings and Credit Line wallets of their Nexo accounts. Also, holding the token automatically makes you a part of Nexo’s loyalty program. The program gives holders up to 50% higher yield on Earn on Crypto suite and up to 0.5% cashback on crypto swaps and purchases via the Nexo exchange. Not only this, but the borrowing rate starts from just 0% APR, and there is access to up to 5 free crypto withdrawals. 

• Higher yields: holders can increase their loyalty tiers and earn more interest by holding the token. They can also get up to 2% extra interest by opting to earn in Nexo tokens. 
• Exchange Cashback: each crypto purchase or swap is rewarded with cashback that automatically goes into your savings wallet. In other words, it starts earning interest immediately. 
• Borrow discount: the borrowing rate automatically decreases as a Nexo token holder loyalty tier increases. 
• Card cashback: the crypto rewards you will earn from using your Nexo card will increase if you hold more Nexo tokens in your portfolio. You will also earn up to 2% cashback on Nexo token purchase or o.5% back on bitcoin purchase. 
• Daily interest: Nexo token holders will earn 7% APR regardless of their loyalty tier.  

Holding Nexo tokens provides an opportunity to participate in any future Governance Votes to decide the future of Nexo, as one Nexo equals one vote. Also, Nexo tokens used as loan collateral will earn interest as long as they are in the Nexo account. 

Nexo tokens are traded as restricted securities. As we explained earlier, holders can use them as repayments to Nexo, with a 50% discount on the interest rate if you use them. The total supply token is set as 1 billion Nexo, and the market is $323,948,441. 

Where to Buy Nexo Tokens 

Nexo exchange

The easiest way to buy Nexo tokens is through the Nexo exchange on the mobile app or web. On the page, tap on “exchange” and select the “buy with card” option. Then, choose between “Mastercard or Visa” and enter your card details. Confirm your purchase and proceed to earn, borrow, or swap your Nexo tokens. Don't forget that you also need to pay exchange fees on Nexo.

On the Nexo exchange, you can also trade fiat currency for other cryptocurrencies.

Changelly integration 

Another way to buy Nexo tokens is to use the Changelly integration. Under your profile, click on loyalty levels and choose the “BUY Nexo tokens” option at the bottom of the page.  

Note that trading Nexo tokens on the Nexo exchange are not available for US citizens and residents. 

Third-party exchange 

Nexo tokens are listed on more than 15 third-party exchanges. The popular ones are:  

• Binance 
• FTX 
• HUOBI 
• BITFINX 
• Bitstamp 
• HitBTC 
• Gate.io 
• UNISWAP 
• QUICKSWAP 
• Balancer 
• UPEX 
• HOO 
• Bitrue

Conclusion 

Nexo is a private company, and it is responsible for the security of its user funds and networks. Its smart contracts were independently audited satisfactorily, and its token had been fully audited. To find out more about Nexo, read our review. If, after reading, you come to the conclusion that Nexo isn't the right choice for you, go to our crypto exchange comparison page.