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.