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.
Experience with Nexo?
- Thread starter Shlomo
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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.
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.
This response is worth raising, knowing what happened with FTX and the continuity of Nexo at the moment.legrant said:
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.
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Appearances are sometimes deceiving.
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NEXO = Celsius I suspect they both liquidate collateral.Outlander said:
They are a honest company. Recently announced massive dividends for the NEXO token. You can check their rates as well of other interest bearing accounts at Interest Rates ”“ Cryptostarter
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