What is Nexo Coin?
Nexo is a real-time lending platform for cryptocurrencies built on the company’s blockchain technology Credissimo. This is a company operating in the field of consumer lending established in 2007 in Europe.
When borrowing money at Nexo, the borrower’s identity guarantee platform is completely confidential, and the borrower can regain 100% ownership of the property when the loan is repaid and quickly received loan on demand. Nexo accepts all types of collateral in the digital market, including crypto assets such as ETH, BTC, Altcoin or valuable items and items in virtual reality games.
NEXO is the main cryptocurrency in Nexo, used for many purposes in the platform such as to use to pay monthly interest on loans, or to mortgage as a consumer loan in the platform, and when using NEXO the borrower will receive a lower interest rate along with a higher limit than the other coins in the platform.
Features of Nexo
Nexo’s goal is to address the financial shortage for the new digital economy. To that end, Nexo will rely on more than 10 years of experience from its founding company, Credissimo, to be considered a market leader in several European countries. The main functions of the Nexo platform include:
- Unlock value for your digital currencies.
- Maintain the potential for asset growth while you need a certain amount of money without having to sell those assets.
- Enjoy quick and convenient access to the loan process.
- Based on secure blockchain technology.
Using Nexo is simple: you can access the value of your digital assets simply by putting your money in Wallet Overdraft. When your money is in that wallet, you can receive instant overdraft in fiat currencies (like EUR or USD) or cryptocurrencies. In addition, Nexo will provide a consumer card for its customers, Nexo’s card has the following characteristics: The card is free to use with flexible lending limits; Many repayment options; Support of cryptocurrency and payment in local currencies; There are no monthly fees, annual fees and hidden fees.
Nexo project development team
The Nexo project is a product of Credissimo – a leading European company founded in 2007. The company has provided $ 120 million in loans since its inception and collected $ 155 million in cash. Credissimo is considered to be the market leader in the online consumer lending segment in several European countries. They have processed more than 1 million loan applications to date, with 79,000 loans granted in 2017. 78% of the traffic comes from old customers. The company also has a net profit margin of 35%.
Here are some key members of the Nexo project development team:
Kosta Kantchev (Partner Management): He is the co-founder of Credissimo and the visionary is directly responsible for the 10-year success story of the European FinTech Group.
Georgi Shulev (Partner Management): He has a banking background and has extensive experience in areas such as M&A and Financial Analysis at organizations such as Unicredit Bank Austria, Lehman Brothers, Chau Investment Bank. Au.
Vasil Petrov (CTO): Vasil is an early adopter of blockchain technology and started his own business. He has more than 16 years of experience in system administration, back-end development. His achievements so far have resulted in co-founding and Chief Technology Officer of a multi-service video service provider and distributing interactive services to more than 150 000 customers.
The Nexo project brings a fairly new idea to the cryptocurrency market, with a reputable and long-standing company in the field of consumer loans such as Credissimo, the development team that owns many talented members. Especially, the Nexo support community is very large. The recent rise in the value of Nexo coin has partly confirmed the project is well received, with long-term investors, Nexo can be considered a good investment.