NEXO is a project that entered the cryptocurrency market only in the spring of 2018, but has already managed to attract a lot of attention. Its team calls its creation the best in the industry of crypto-lending. Does the NEXO cryptocurrency have chances to become a top coin?
What is NEXO?
This is a platform for instant loans in cryptocurrency. The company uses more than 40 fiat currencies. According to the project site, its services are available in almost all over the world.
Communication with fiat currencies is provided by Credissimo, which has long been on the lending market. Thanks to this cooperation, NEXO credit cards are available to users. We cannot provide reliable information about the level of usability of these cards. We only state the fact of their presence.
User funds are secured by BitGo. These are individual cold wallets.
The company conducts its business in the Swiss jurisdiction.
Nexo coin is a universal asset. Its creators decided to assign all possible characteristics to this token. This is a kind of “combo-token”. This is a crypto for the credit blockchain platform. This is a security token with the possibility of receiving dividends with some functions of a utilitarian token.
According to official information published on the company’s website, it pays out 30% of net profit in the form of dividends distributed proportionally to all owners of NEXO tokens, whose coins are placed on a special wallet on the date of dividend payment.
Coin Nexo is available on such exchanges:
- DDEX and some others.
Nexo Price Forecast 2019, 2020
When the crypt hit the market, it quickly went up in value. The main reason for this was a good start time (the bull trend dominated the market). But later Nexo could not escape from the altcoin crisis, which however was not a landmark. Since mid-September 2018, the coin has shown a smooth, but tangible growth against the background of the flat market and Bitcoin’s turning into stablecoin.
Factors stimulating the growth of NEXO:
- The project has managed to attract quite a lot of attention for a short period.
- A promising niche in the blockchain industry has been selected.
- The coin shows strong resistance to general trends.
- The project provides many bonuses to its users.
- Combining the world of fiat currency and cryptocurrency.
Factors holding back the growth of NEXO:
- The project team pays too much attention to self-promotion. The way they extol their project looks too unnatural and repels serious users.
- Despite the published information, there are too many uncertainties on the functionality of the platform and credit card, especially in different jurisdictions.
- The implementation of conceived ideas is quite complicated within the legal framework.
- The project has competitors like SALT Lending.
This is a young project that requires close attention from the community. The team’s idea of is very interesting. Their cryptocurrency has every chance for further growth. However, we believe that such growth will be gradual.
In the table below, you can see how much, in our opinion, NEXO will cost in 2019, 2020.
|Period||Nexo (NEXO) Price Predictions|
|End of 2019||$0,19|
Disclaimer: We make our assumption about the cryptocurrency’s possible prospects. It cannot be a basis for trade and investment activities.