Nexo Honest Review | 12% Compound Interest | GOOD OR BAD IN 2021??

Описание: We are reviewing Nexo, the cryptocurrency interest account!

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IMPORTANT UPDATE 2 (July 14): They are still working on full support for USD! Currently only have wire transfers, and are working to add ACH transfers (like Plaid)

IMPORTANT UPDATE 1 (Feb 2): So within a week of releasing this, Nexo added an exchange to their platform, which I mentioned in the review that they did not have (of course lol). The rates actually look comparable to exchanges like Coinbase and Gemini! They are not a full service exchange, and don't support a lot of fiat currencies (only GBP and EUR). You'll still need to go to a full-service exchange like Coinbase or Gemini to convert fiat to a supported crypto to trade. You can do this with stablecoins which is the closest you can get to trading with fiat. But once that's in Nexo, the exchange is very solid!

LIVE HUMAN SUPPORT: https://support.nexo.io/hc/en-us/arti...

ABOUT: In this video we’re taking a look at Nexo which offers a cryptocurrency interest account. Very similar to a normal bank account that offers interest, just with cryptocurrency instead of dollars and an interest rate of up to 12%! We go over the company, product, and considerations about using Nexo. At the end I give you the verdict on Nexo as well as a comparison to two of its competitors: Celsius and BlockFi. Thanks for watching!

🔴 Celsius Network Review:    • Celsius Network Honest Review | 16.16% Com...  
🔴 Voyager Review:    • Voyager Crypto App Honest Review | How To ...  
🔴 BlockFi Review:    • BlockFi Honest Review | 8.6% Compound Inte...  
🔴 Gemini Review:    • Gemini Honest Review | How To Buy Bitcoin ...  
🔴 Coinbase Review:    • Coinbase Honest Review | How To Buy Bitcoi...  
🔴 Ledn Review:    • Ledn Honest Review | 12.5% APY | GOOD OR B...  

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0:00 - Intro
1:09 - Nexo Overview
3:34 - Key Considerations
5:04 - The Verdict
6:20 - Comparisons to Celsius and BlockFi
8:41 - Outro

#nexo #bitcoin #cryptocurrency

OVERVIEW OF NEXO

Nexo is a European company founded in 2017 by Antoni Trenchev, operated by its parent company Credissimo, and is backed by Michael Arrington, a well known tech investor and founder of TechCrunch.

They are licensed and regulated in over 200 countries, and keep their assets with BitGo. They are insured up to $100 million, keep 100% of their holdings on cold storage, have achieved cryptocurrency security standard level 3, and are SOC 2 compliant.

Earn interest up to 12% on most of the big cryptocurrencies like BTC, ETH, and LTC, and even some fiat currencies like GBP and EUR. Interest is paid out daily, and there are no fees on withdrawals or most transactions.

They have a reward system that determines your APY. At the base rate, you get 8% on stable coins like USDC and 5% on cryptocurrencies like BTC and ETH. At the highest rate (platinum) you get 10% on stable coins and 6% on cryptocurrencies.

You can also take out personal loans against your cryptocurrency. Nexo uses their holdings to lend to institutions and individuals.

CONSIDERATIONS

Cryptocurrency is relatively volatile, so be careful with the money you put in.

Nexo manages and stores your wallets on their end so there’s also the concern of security breaches. If a major security breach were to happen, Nexo is insured for $100 million of damage. Their app has 2FA.

COMPARISON

Nexo pays out daily, while while BlockFi pays out monthly and Celsius pays out weekly.

BlockFi gets you 8.6% on 3 stablecoins, but Nexo and Celsius get you 8% and 10.51% on 6 and 11.

For Bitcoin, even at the highest rate Nexo only gets you 6%, while Celsius gets you 6.2% for the first 2 BTC and BlockFi gets you 6% on the first 2.5 BTC.

Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!