Nexo User Base Grows Beyond 170k
This week, Swiss Blockchain firm Nexo made a couple of very exciting announcements that pinpoint the rapid growth of this exciting project. In just 7 months of operation, Nexo have announced that they have processed over $300,000,000.00 and have retained a user base of over 170,000 users, a base that is growing by the day.
What is Nexo?
Nexo provides an instant cryptocurrency based loans service that lets cryptocurrency work for lenders. It’s guaranteed by Crypto Custodian Insurance and is often referred to as the world’s largest and most secure crypto lender. With Nexo, users are able to borrow cryptocurrencies against over 40 FIAT currencies and can earn interest on their ‘idle assets’.
With Nexo, users can purchase loans in Bitcoin, Ethereum, Nexo Tokens, XRP and BNB, an interest rate of 6.5% can then be earned by the lender in stablecoin payments, with the view to expand into Bitcoin, Ethereum and XRP payments too. The whole system is backed by a credit card that also users users credit based on their crypto holdings.
In their most recent announcement, Nexo have revealed the true scale behind their project, proving that this is not just a typical lending platform, rather, Nexo is taking the world by storm.
“On December 15, 2018 Nexo distributed US$912,071.00 to eligible NEXO Token Holders. The dividend represents 30% of the $3,040,239 net profit for the first 7 months of Nexo’s operation. The annualized dividend yield of the NEXO Token is 4.80% beating all dividend stocks in Buffet’s portfolio, including: Apple 1.4%, JPMorgan 3%, Wells Fargo 3.3%, Goldman Sachs 1.6%.”
With this in mind, it’s clear that Nexo is not only rewarding those that are using the service, but it’s also providing fruitful returns and dividends to investors that are holding Nexo tokens.
“The Q3 to Q4 2018 user base growth has been a stellar 700% which has exceeded all expectations but shows the unequivocal demand for Nexo’s instant crypto loans and the additional features that we are rolling out on a regular basis. Nexo has reached over 1,000,000,000 impressions thanks to our 35k+ Telegram community and 31k+ Twitter following and have secured us features in 70+ top-tier media outlets such as Bloomberg, Reuters, Forbes and many more.”
The traffic seen by Nexo and the huge surge in users proves that there is a demand here for these services. Nexo is providing something that is almost essential – it’s great for the adoption of cryptocurrency and also gives investors new and innovative ways to get involved with the blockchain too.