This method requires you to sign-up using my referral link to create an account with Nexo, meaning we will both earn $25. It’s a win-win situation!
First of all, let’s talk about what Nexo actually does! It is a borrowing and lending application for cryptocurrencies, meaning you can lend your crypto to earn interest (passive-income) or borrow against your own crypto so you don’t have to sell. In my opinion, it is the best centralized application for such things. Let me tell you why:
- It has amazing rates! On most coins you can earn up to 8% per year, making it a no brainer to use for Bitcoin and Ethereum, if you are holding long-term. Stablecoins offer up to 12%, which is an amazing rate, considering it is risk-free, as stablecoins are pegged to the dollar, so they will always be worth $1.
- You can buy directly with your debit card or with a bank deposit! Most lending applications don’t have this function, and currently the rates are really decent. In my experience, they are never more than 3% for debit card purchases, which is actually better than what Coinbase has to offer! I’d still recommend depositing money using a bank or depositing crypto, especially XLM, as it has the lowest fees.
- They have a built-in exchange! This is arguably the best function that separates Nexo from its competitors. You can directly swap coins in their app. This is especially important if you want to deposit ETH or any high gas fee coin/token. You can just sell it for XLM, deposit XLM to Nexo, swap it back to your preferred coin/token and start earning interest! Fees are really decent, around 0.5%.
- They have great security! Assets are stored in military-grade Class III vaults, and there is a $375 million insurance on custodial assets!
- Customer support is great!
Overall, I am recommending Nexo because I’ve been using it for more than a year, and I am extremely pleased. So, if you’d like to earn some nice passive income on your crypto and get a $25 bonus use this link to create an account. To be eligible for the bonus you need to deposit at least $100 worth of any asset and maintain a balance above $100. I recommend any stablecoin, so it’s risk-free.
Disclaimers: I will also be earning $25 if you decide to use my link (thanks for the support). However, I think it’s a win-win situation, and I’m only recommending Nexo because I believe they are the top lending app. This is by no means financial advice, the purpose of this story is to educate and entertain! Always make sure to do your own research before doing anything with your money.