Blockchain

Blockchain-based Lending Platform Nexo Lowers Interest Rates on Instant Credit Lines

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Nexo, the leading blockchain-backed overdraft platform that gives instant crypto loans to customers, has announced the news about its lowered interest rates on its instant credit services.

The crucial information was broadcasted through an official press release on October 22, 2019, by Nexo. The firm clarified that the new reduced interest rates are offered after attaining the long-term profit-oriented financing. Nexo also bragged about its prowess by saying that its platform is offering the customers the lowest interest rates in the sector.

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Apparently, the instant lending platform, Nexo, allows its customers to operate on its strategically designed and implemented crypto credit lines that begin at 5.9%. There is no requirement of minimum repayment as well as credit checks. The facility can be accessed by a large audience spread over 200 jurisdictions.

One can use Nexo to lend loans against a wide array of leading digital currencies offered by the platform, including Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC), and others. The prime advantage of adopting Nexo’s credit system is that the users can avail of the loan facility without giving away the ownership right of their digital assets. Nexo allows the customers to earn daily interest on their idle assets. Also, the crypto assets are secured by a highly-reputed Securities and Exchange Commission-approved digital asset security firm, BitGo.

Earlier in August, Nexo revealed that it flooded its token holders with lucrative dividends, which amounted to a total of $2,409,574.87. The firm gained an annual dividend yield of 12.73%. Taking pride in being the supporting network of over 250,000 customers, Nexo’s dividend return shines at the top-notch level in comparison to other dividend-paying assets placed on the S&P 500 market index.

The same month also marked the launch of a Mastercard-backed cryptocurrency credit card by Nexo. The firm then purported that the credit card is a first of the kind that allows users to spend the value of their cryptocurrency assets without actually spending it.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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