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NEXO cryptocurrency

10/05/2018
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NEXO cryptocurrency: review

NEXO is first decentralized blockchain platform specializing on the provision of loans backed by cryptocurrency. Official website

At the beginning of May 2018 Nexo cryptocurrency has started to be traded at several decentralized stock exchanges. At the beginning of May 2018 NEXO cryptocurrency has started to be traded at several decentralized stock exchanges, though they plan tokens listing at official trading sites, entering TOP-10 on the amount of market capitalization.

While the project team has launched working version of NEXO platform before NEXO coins entering to stock exchanges. In future this platform will be improved and all users might get dividends for keeping NEXO coins at their wallets. Such event is rather rare for cryptocurrency start-ups.

General characteristics

NEXO is a project of Credissimo company — large scale European company taking up loan provision business since 2007. The Credissimo representatives plan to combine many years experience with modern blockchain technologies and help various cryptocurrency investors to solve the issue related to fund shortage.

Let’s review NEXO model on the example. There are two investors who have decided to place their free capital in Bitcoin Cryptocurrency. According to their forecasts next few days should be marked by the posting of important news which should positively influence the coin price.

At the same time both investors get insider information about new updates of Ethereum platform and the fact of their solving the issue of scalability. It means that the moment this news enters media the exchange rate of ETH will grow significantly.

Investors think the following way

if they withdraw capital from Bitcoin they miss profitable opportunity and lose lot of money at additional payments like taxes, commission fees etc.;

they stop possessing their Bitcoin the price of which might reach the level of 100 000 $ per coin;

if insiders information is not confirmed the invertos would be more than disappointed: they lose their coins, conduct lot of useless transactions and bear losses from non-profitable transaction with ETH.

First investor knows nothing about NEXO platform assesses the risks and decides not to take insider information into account. In this case he gets the following perspectives:

  • he implements his forecast and gets small profit;
  • he gets nothing if expected news turns out be to bnot very important.

Second investor knows about NEXO loan platform and decides to use insider information. In such case he gets the following options:

  • the option to implement own Bitcoin prediction and get profit on the growth of Bitcoin;
  • implement insider information and earn at ETH exchange rate.

While second investor does not lose ownership rights to its Bitcoins and retains control over them the moment it pays back the loan. All transactions are instant without any paperwork and hidden fees. Moreover, if second investor decides to use NEXO tokens in the nearest future he can use loan money at more profitable conditions.

For more information remember download “White Paper and view presentation video

NEXO tokens value

NEXO stands for the calculation unit of the platform with the same title. This token has been built on the basis of Ethereum blockchain, corresponds to ERC-20 standards and has the following options:

  • advanced protection system saving novice users from the thieves actions;

  • discount program the participants of which can use accumulated points for loan repayment;

  • provides dividends to all users, who store and actively use NEXO cryptocurrency.

There will be around 1 billion coins in circulation. As per 9th of May 2018 the project team has already issued 560 millions from overall amounts. Average exchange rate stays on the level of 0,36 $, while overall capitalization has reached the level of  201,6 million USD.

Tokens Pre-sale took place since 03.07.2018 till 03.17.2018. They have conducted ICO since 17.03.2018 till 15.04.2018 and have distributed obtained profit in the following way: 52,5%  tokens have been sent to investors, 25% has been wired to reserve fund, while remaining sum has been shared between counselors, project team and society members.

Next important date is 10th of May 2018. This day ten leading cryptocurrency stock exchanges will add NEXO to their listings. If everything goes well investors can fix their first significant profit.

Road map

The project technical documentation says that all works on NEXO project will be conducted since February 2018 till second quarter of 2019. Let’s review the project main stages.

1st half of 2018. This period NEXO team will be concentrated on the performance of the following tasks: adding NEXO tokens to all large scale cryptocurrency stock exchanges, issuance of credit card and marketing promotion of promoted product. These works will be combined with the development of technical software enabling to get Bitcoins and Ethereum as security and provide USD and euro as a loan.

2nd half of 2018. This time the project team plans the development of NEXO mobile wallet, connection of various affiliate programs and loans amounts increase. At the same time they will continue the development of technical software and enable it to accept other popular cryptocurrencies. This period the team plans adding yen as a currency available for a loan.

1st quarter of 2019. This moment they plan to launch cooperation relationship with various bank institutions and implement the system of credit accounts.

2nd quarter of 2019. They will develop API for corporate clients and implement the option of loans deferred repayment. As soon as all aforementioned processes are settled, the NEXO team will start with further increase of existing loans amounts.

Project team

We can mention 14 key figures forming NEXO team board. Let’s mention the most important representatives.

Co-founder and management partner Kosta Kanchev. One of Credissimo company co-founders and main investor of several start-ups promoting blockchain technologies to the sphere of finances

Co-founder and management partner Antony Trenchev. Former member of Bulgaria Parliament who has been working in the sphere of e-commerce for seven years. He has experience in the sphere of strategic planning and business processes automation.

Co-founder and management partner Georgy Shulev. He has been working in the sphere of investment banking for six years and is one of Credissimo co-founders.

Co-founder Vasily Petrov. He has 16-years of experience in the sphere of system administration, has been working as technical director and successfully cooperated with 150000 clients.

Nexo team has invited Michael Arrington as a consultant. He has found popular blog TechCrunch, specializing at the posting of experts onions related to technological startups. Forbes considers Michael Arrington as one of the most popular persons in Internet, while Time has included his to the rating of the most powerful people in the world (2008).

Remember to check information about other team members at “Team " section.

Conclusion

You have read about new project which covers loans provision niche and will be monitored by reputable company. But remember that perspectives are always accompanied by the risks of investment into cryptocurrency. So be sure to review all pros and cons of NEXO tokens.

AdvantagesDisadvantages
NEXO is a unique project which does not have competitors in the sphere of blockchain industry NEXO is a unique project which does not have competitors in the sphere of blockchain industry
Project has very experienced team which performs settled plan in advance and aims entering international market. Service rules contain the system of risk management, which will work against the borrower in case of cryptocurrency exchange rate sharp drop down and borrower will lose part of his investments
NEXO  tokens are well accepted by various cryptocurrency stock exchanges.Service rules contain the system of risk management, which will work against the borrower in case of cryptocurrency exchange rate sharp drop down and borrower will lose part of his investments. Any moment the NEXO might have more developed competitor with more profitable cooperation conditions

Dear readers what is your opinion about about NEXO cryptocurrency? Is it worth investing? Feel free to share your thoughts in comments.

 

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