In the current market cycle, keeping your crypto in the right place is not only recommended — it’s your number one priority. If you want to remain active and continue to swap assets, earn interest and get liquidity against your crypto, then moving to cold storage might not be your best option. So how do you choose a platform where you can have it all and stay secure? First of all, look for strong fundamentals and a diverse product offering.
Be security first, so your crypto wealth doesn’t come last
With Nexo, security is where it all starts. The platform is set on strong fundamentals, essential for the company to not only remain stable but even thrive in the bear market. Let’s dive into a few of them:
- Overcollateralization - lending funds only when the collateral is sufficient. Even the most trusted institutions do not receive credit from Nexo if this requirement is not met.
- Real-time auditing - having a 3rd party real-time attestation that shows the company can meet client obligations at all times.
- Insurance - raising the total insurance on custodial assets from $375M to $775M in times of extreme fear.
- Risk management — maintaining a strong liquidity position by relying on sustainable business practices and holistic product suite.
Look for a diverse product offering. As the market cycles shift, so does the demand for specific solutions. Extreme volatility is often associated with higher trading volume, longer accumulation periods are when smart investors are buying crypto and periods of growth are a signal for more experienced investors to borrow funds which can be reinvested. With Nexo, you can do all these and more:
- Buy Bitcoin, Ethereum, and more with a debit or credit card and for a limited time, with 0% fees. Purchases take seconds and the funds are instantly added to your wallet. Nexo also supports wire transfers for easy fiat top-ups.
- Exchange 300+ crypto pairs in a simple way at real-time prices. Every swap gets you up to 0.5% back in crypto, with rewards going straight to your portfolio.
- Earn interest on your crypto. Rewards are paid daily and compound automatically — this is the easiest way to earn passive income with your crypto.
- Borrow cash or stablecoins against your crypto without selling. Rates can get as low as 0% APR, and you get approved instantly.
- Spend the value of your crypto without selling with the Nexo Card. It’s the only crypto-backed card that pays you back up to 2% in crypto rewards. For a limited time, the maximum rewards are available to every card-holder, on every purchase made.
Make sure you place your trust with a partner whose principles you can fall back on. To enjoy the crypto space and position yourself for future returns, it’s essential you leverage a platform that safeguards your assets and helps you grow your wealth even during rough times.
This post is commissioned by Nexo and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.