Topic: [ANN] Nexo - The World's First Instant Crypto-backed Loans - page 7. (Read 25457 times)

Its something new and  everyone is watching and learning, good time to be involved, (when its early days)
STO will be huge, this is why Coinbase and others have applied for STO & ETO licenses and some have been approved.

Ok, thank you, very interesting;it has the advantage of transparence.

however there you deposit the cryptos outside in a private firm, with its own risks ?

also there is a cost (16 %), and back payments, maybe not the principal argument.

Well, Nexo might not be in loss right now because back in December/January, taking a loan wasn't this easy. Imagine if they had crazily provided loans at the rate of $10,000 per bitcoin deposited when bitcoin (nearly) touched $20,000, Nexo would have been in a good loss by now.

IMO, crypto is still pretty young and can become extremely volatile again in the future; Nexo needs to be very careful with their maximum collateral coverage ratio.

Hello 

I  did a bit of googling and found a few things....

https://www.investopedia.com/ask/answers/120315/are-personal-loans-considered-income.asp


https://www.nytimes.com/2012/02/08/opinion/the-zuckerberg-tax.html
But how much income tax will Mr. Zuckerberg pay on the rest of his stock that he won’t immediately sell? He need not pay any. Instead, he can simply use his stock as collateral to borrow against his tremendous wealth and avoid all tax. That’s what Lawrence J. Ellison, the chief executive of Oracle, did. He reportedly borrowed more than a billion dollars against his Oracle shares and bought one of the most expensive yachts in the world.



https://www.forbes.com/sites/robertwood/2016/02/16/kanye-wests-tax-free-1-billion-from-mark-zuckerberg/#75f8dc741647
If Mr. Zuckerberg hands Kanye West $1 billion as a loan, is it taxable income?

Nope, loan proceeds aren't income, provided that it’s a real loan. That’s a key distinction that lands many taxpayers in trouble with the IRS. The $1 billion in loan proceeds would not be income to Kanye, and he should be able to deduct the interest payments. Mr. Zuckerberg just would report the interest as income.

where a more detailed explanation ?

https://www.reddit.com/r/Nexo/comments/9rxagb/fiat_deposits_coming_atomic_wallet_integration/

https://twitter.com/Pixel_ada/status/1055919780539043841

Pixel
‏@Pixel_ada

Replying to @dwxrp @NexoFinance @xrp_news


If you pay back your loan in the first 30 days, you only pay 0.7%. That's quite cheap compared to the taxes you would pay if you would just sell your crypto.
 

Hi  

Ok i also thought the same when first looking at Nexo. 50% drop in crypto price = loss

Thing is the drop has to be 50% from today and sustained for over a year on all top coins and at the same time no one pays back any loans with interest.
This is a very unlikely scenario imo crypto has to die for Nexo to fail.

(different coins have a LTV loan to value ratio)


On the plus side, what if crypto do not go much lower but crypto goes up in value, Nexo will become a big hitter, top 10 coin very quickly.
Also Credissimo have been doing similar loans for over a decade, they know how this market works.

I've been following the updates and announcements of Nexo for a while, but I've got a feeling that Nexo will eventually go completely bankrupt:

Nexo provides mostly upto 50% fiat-value of the deposited crypto; imagine the worth of deposited crypto goes down by 50% - that'll leave Nexo with a loss. Imagine that this continues for a while, Nexo will eventually be left with no cent in their bank and get bankrupt. Risky.

Nexo is honored to have a dedicated button for our instant crypto loans on @coingecko, the amazing service that provides the blockchain community with the tools for evaluating digital assets, enjoyed by 69+ million people in the past six months. #NexoEverywhere

https://twitter.com/NexoFinance/status/1055374255343525888
 






(THIS_DUDE@DUDECRYP

Replying to @NexoFinance @coingecko
Pls consider trying to get NEXO listed in at least 1 big exchange. Big investors don't have access to buying large amount of coins... there is just not enough liquidity the market provided by the exchenges you'in is just too thin...)

Working on it , will be happening very very soon  

https://www.reddit.com/r/Nexo/comments/9qw06v/nexo_sec_dividends/

Excellent post, must read for all interested in Nexo and security tokens.

Thank you Roger for sharing time with Nexo 
Nicely done George, great info 

https://www.youtube.com/watch?v=8ZG3eZL7aik&feature=youtu.be

https://news.bitcoin.com/nexo-lending-platform-adds-bitcoin-cash-support/
Cryptocurrency loans service Nexo has confirmed it is adding support for bitcoin cash (BCH). The Switzerland-based lending platform offers crypto-fiat loans from upwards of $1,000, with no credit checks required as collateral. BCH holders will be able to stake their cryptocurrency as collateral and obtain instant funding in more than 40 fiat currencies.
Cryptocurrency lending service Nexo has been expanding rapidly. It recently added Ripple’s XRP and has now confirmed support for bitcoin cash and litecoin.




Thank you team NEXO  
 

https://twitter.com/NexoFinance/status/1054640098560630784
A great integration on the #NexoEverywhere campaign: the “Nexo - Get an Instant Crypto Loan” button is the now live on @CryptoCompare.
This global cryptocurrency market data provider gives millions of investors access to real-time, high-quality, reliable market and pricing data.

Great work  

Rough plan....

Buy alot of Nexo while they are still cheap...
HOLD , (possible use for divedends while holding)....
Wait 6-12 months, people will be repaying loans , some will opt for lower intrest and repay with Nexo coin...
Nexo coin price goes over $2, (around $1billion cap, considering over $1bill has already been loaned, this price will be easily achieved)

Once these things happen, then take out a loan paying only 4% z tax (intrest) and repay the loan with all the cheap Nexo and dividends from today  


https://www.youtube.com/watch?v=kJQP7kiw5Fk
Luis Fonsi - Despacito ft. Daddy Yankee  




Today 13cents - 1 Nexo
12months-$2-$10 - 1 Nexo
3-5years- $50-$100 - 1 Nexo

https://www.youtube.com/watch?v=GmG4X9PGOXs
Everyday Normal Guy 2
 

https://twitter.com/Ethos_io/status/1054424729438900229
Instead of selling your crypto, #HODL with an instant loan from @NexoFinance, the leading crypto-lending platform. Get cash in 40+ currencies + a 50% off on the interest with $NEXO tokens, which you can now store, track, send, receive on the Ethos Wallet. https://buff.ly/2jr8iB4

https://twitter.com/hashtag/NexoEverywhere?src=hash
The #NexoEverywhere campaign has recently taken us to Turkey.
Countries with capital controls are among the quickest to adopt cryptocurrencies and Nexo is there to bridge the gap between crypto and the traditional banking system.
Great work  


ok heres the thing that many will be doing soon....
https://ambcrypto.com/xrp-can-now-be-used-as-collateral-for-2-million-instant-loans/

The platform allows users to utilize XRP for a flexible credit line and 8% per year charges. Moreover, the service utilizes BitGo, a custody provider approved by the United States Securities and Exchanges Commission. The existence of Nexo provides a solution to tax problems, which is a prominent hurdle for cryptocurrency enthusiasts as well.

Currently, they are forced to pay capital tax on their gains when they cash out. However, the platform will allow users to utilize a method known as the “Zuckerberg Tax”, removing tax liabilities by converting selling into an overdraft, where users still have access to liquidity.

When wanting fiat for your crypto you can...afaik
you can pay capital gains around 15% and go directly into fiat or
use a Nexo loan and pay around 8% interest using crypto as collateral, savings with the  “Zuckerberg Tax”  or
 even better take a loan with Nexo coin and pay around 4% using Nexo coin for repayments , making huge savings with the  “Zuckerberg Tax”


THIS IS HUGE

https://twitter.com/nexofinance?lang=en
XRP-backed loans are now available on the Nexo platform,
making us the first and only crypto lender to onboard #XRP as collateral.
Get instant access to cash while keeping the upside potential of your XRP! #HODL #Ripple

https://medium.com/nexo/nexo-partners-with-centre-for-loans-in-usdc-stablecoin-b4c68943acdc  
Great work Team Nexo  



Nexo has formed a partnership with stablecoin network CENTRE.

As a result, the stablecoin USD//Coin (USDC) will soon be added as an option in which clients can receive their Nexo loans.

CENTRE is a consortium founded by Circle Internet Financial Ltd. in part owned by leading investment bank Goldman Sachs.  
(Its likely Poloniex list Nexo)


CENTRE will act as a regulator for USDC issuers, ensuring that they possess state licenses to handle digital assets and meet anti-money laundering (AML) standards in an effort to attract even more institutional support for the broader blockchain space. This comes in just a few months after Circle acquired cryptocurrency exchange Poloniex. The USDC is now gaining traction with clients across cryptocurrency exchanges.