Experience with Nexo?

[legrant]

This thread was about Nexo the lending company, not their token Nexo. Nexo is a lending‌ platform where you can borrow money using crypto as collateral or lend your cryptos or‍ fiat and earn interest on them.

 

[ShoropCrypto]

I deposited money to NEXO two days ago with my card, they blocked my money‌ and asked for KYC. I have fully verified account, so this is second KYC. I‍ sent all documents and financial department doesn’t answer me for TWO DAYS. So i can’t⁠ withdraw my money and I’m not alone with withdraw problem.

 

[zonez]

Recently they have been asking for documentation (wallet screenshots) when depositing..

 

[legrant]

Don't invest into lending platforms. 4 of the biggest companies have gone under in less‌ than 2 months. If you want to get yield on your cryptos, go to an‍ exchange like BInance or FTX as they generate tons of revenue on fees and other⁠ stuff so they don't rely on lending to risky counterparties.

 

[Elve]

This response is worth raising, knowing what happened with FTX and the continuity of Nexo⁣ at the moment.

Appearances are sometimes deceiving.

 

[DerAufklaerer]

Chat aNSWER about Tax:

No, we do not report tax information on your behalf. You‌ need to do so yourself and report the applicable information based on your jurisdiction.

 

[crassus54]

NEXO = Celsius I suspect they both liquidate collateral.