Staking/Lending (Review) on NEXO

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Avatar for Eybyoung
4 years ago

Aside from trading and holding some crypto investors also go for staking. I thought staking before is like gambling on Casinos using cryptocurrency lol, so I didn't bother to know about it since I don't like literal gambling. The imagination of a naive person is really wide. Then some time ago, I read some users that aside from blogging they are also earning from “staking”, so I got curious again. Then, I saw this Nexo advertisement keeps popping on my brave browser since I am using this one. I wasn't interested at all upon seeing the advertisement but when I read that user that they were earning profit from staking at NEXO, I got interested in it. I also ask sir Telesfor if Nexo is legit and in his opinion, it is legit so I tried my first staking in there. But before that what is the meaning of staking?

What is staking?

In the cryptocurrency ecosystem staking means “locking up’” your digital asset or by “staking” it in a respective blockchain depending on the coins you chose to stake with. It means you are agreeing to securely operate the blockchain and in return, you will be rewarded in form of newly minted coins.

In simple terms, you are putting up your digital asset into a staking service platform and in return, you will receive “interest” or the “staking reward” depending on the platform agreement whether it's daily, weekly, monthly, or yearly. It is called “soft staking” wherein some platform takes charge fee from the percentage of your staking amount.

There is also another term which is the “exchange staking” which is operated by a digital assets exchanger.

Staking was made so that people who lack technical knowledge about it can participate using the third-party platform may it be staking as a service platform or exchanger.

Why Nexo?

I chose Nexo because I already made my account there and upon reading reviews and asking some users who used it I see that it is legit and working well.

Nexo has 40+ fiat currency, they offer 4-5% APY on your favorite digital assets and 10% APY on stable coins. They also offer a 5.9% APR credit line, they offer to lend on your favorite crypto assets.

As for now, I stake my XRP, TRX, and BCH. It was just a small amount for trial purposes and the interest are cents only 😆

As you can see on my screenshots, I started October 9, the daily payout of interest is real as you can see I received the payment for today, October 23, 2020. The amount is small because my capital is small too😆 Even if you sleep you will earn profit from staking.

What do I like about Nexo?

I like it there because unlike any platform or wallet exchanger you don't have to send your ID for verification of your account so you can participate in staking, you just have to activate you 2Factor Authentication and every time you log in you will input a verification code that they will send you to access your account, you will remain anonymous. You can top up or deposit by just copying their wallet address. You can also withdraw your funds anytime you want. You can download the app or just use their website.

See a video about Nexo

I am not a financial adviser so if you want to start staking you should do own your research and chose the platform you want, there are many of them you just have to study it first before doing actions.

If you are interested in a stake in Nexo here is the link.

https://nexo.io/?u=5f7e726cb77e37410b09cf64

If I happen to mention the wrong info you are free to correct this noob writer, thank you for reading! ❤

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4 years ago

Comments

I'm a newbie in Crypto and bmjc98 told me to read your articles and I'm glad I did. Naliwanagan ang brain cells ko hehe.

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3 years ago

Ahem.. Salamat na naman dito.. Altho mejo late ako sa article na to but better late than never ika nga.. Gusto ko to ma try.. Kahit pa cents cents lang, okay pa rin kasi wala ka namang ginagawa..

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3 years ago

Magkano deposit mo sa xrp asset Yung sakin 3xrp walang interest daily

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3 years ago

Sabi n'yo po ganito

"You can also withdraw your funds anytime you want. "

So kung magdeposit man ako example $50, pwede ko din po s'ya ulit kunin anytime? Hehe naninigurado lang po maglalagay po kasi ako kahit maliit lang😆

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3 years ago

Oo kase withdrawable nmn sya kase di nmn sya naka lock in kase lending sya.

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3 years ago

Okay po salamat po ng madami

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3 years ago

Does it require KYC??

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3 years ago

Saved ko muna to.. Basahin ko to mamaya. 😉

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3 years ago

Sure, go ahead hehe.

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3 years ago

Well written I love this article 😊

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4 years ago

Wow thanks 😊

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4 years ago

Thanks to your article. I will give it a try too.....

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4 years ago

I tested this platform for a short time, and it was a pleasant experience. By the way, I sent you a sponsor request. ;)

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4 years ago

Yes, I just tested this one too and so far its good sir. Wow Thank you so much sir 😊 Already approved it 😊

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4 years ago

Welcome to club dear 😌

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4 years ago

Thank you dear 😊

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4 years ago

You have a great knowledge regarding Nexo. I am eager to consult you in fb.

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4 years ago

Not that much, I just explore it. You can ask me anytime.

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4 years ago

Wow! That's cool. But where I can found NEXO? Thank you for this informative article.

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4 years ago

just click the link I included above, thank you 😊

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4 years ago

Owh, okay

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4 years ago

okay, did you see it?

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4 years ago

Congrats po n msubukan din po yang nexo po, ika nga po dun sa isang article q, life's a risk or take a risk if u want to have or achieve something po, lol

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4 years ago

Yes exactly without taking a risk we wouldn't know if we will gain or not until we take a step and tried 😊

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4 years ago

Yes po, you're right n correct po jn, so mag iipon po aq ulit n susubukan din po yan n bka jn po ang swerte q at ndi po sa mga online investment churva chenes po, lol, though there's a risk n u need to think n accept it po

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4 years ago

Yeah it also appear in my browser. But i wasn't able to open it. Maybe later.

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4 years ago

Yes you can check if you want, staking is a passive income.

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4 years ago

See, how good you are! And you're trying to learn different things all the time. But I can't. No time, or lazy take a pick lol. I have to find time to learn more. Glad to know you bhe.

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4 years ago

Thanks for the tip bhe hehe glad to know you too. I am trying to learn something new, who knows maybe soon I can travel whenever I want because of this learnings charot haaha

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4 years ago

I say Amen to that! You will!

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4 years ago

A good start to stacking cryptos. Cheers to a more "passive" crypto income. lol

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4 years ago

hahah yeah thanks 😆

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4 years ago

Nexo has few dark thing at institutional level (some people say) if you're not interested in getting loans then you should definitely use celcius.network I been using it from the beginning. And if you're looking for borrowing then Nexo is best as they allow you to borrow little amount

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4 years ago

Oh, then thanks for the hint. I just tried it. I didn't stake higher amount 😊 Will look at Celsius, thank you.

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4 years ago

Yup :)

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4 years ago

Thanks for the tip😊

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4 years ago

Kala ko din gambling yaam hindi pala hahaha. Pero ang pagkakaintindi ko sa staking ayon dito sa paliwanag mo bat para syang investment na tutubo ang pera pag nag stake ka 🤔🤔 o mali lang kasi ganyan diba sa investment site merong tubo pag ano basta ano

$ 0.00
4 years ago

oo parang ganon na nga, unlike sa mga fake investment mababa lang interest nya.. tsaka nasa blockchain yan nakalagay hindi sa mismong wallet tulad nang mga fake investment.

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4 years ago

Hmmm 🤔 kaya sure na safe ang pera ano 🤔, tatry ko din pala yan pag malaki malaki n money ko, sun nalang muna ako sa pa swap swap, hintay hintay kung kelan tataas 🤧. Sa sunod trading naman etry mo hehe

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4 years ago

Hahaha kakain muna ako nang maraming bigas para sa trading na yan 😆 sa binance namn ako mag explore about dyan pero saka na, swapping muna ako😁. Lahat namn nang investment may risk kahit legit pa yan always put in mind invest what you can afford to lose.

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4 years ago

Haha, pag nakakain kana share no naman samin para mabusog din kamo haha. Ay totoo naman yan, dipa nga ulit ako naulit mag invest madami na din nawala sakin ha, mga 150 na 😂😂😂

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4 years ago

Ganyan din ako dati. Akala ko talaga sugal meaning ng staking jan 😂

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4 years ago

hahaha oh diba kala ko ako lang nag iisip nang ganyan 😆

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4 years ago

Nag stake din ako jan pero $15 lang sa tron. Kahit pa legit dapat manigurado parin 🤔😂

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4 years ago

Yes nmn kaya nga do your own research and invest what you can afford to lose, ako over all total ,$15 lang din eh hahaha trial lang ba.

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4 years ago

Akin isang coin lang ginamit ko dun. Parang lugi kasi sa fee at hassle pag iba ibang coins deniposit 😂

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4 years ago

oo yan kase mga butal kung coins haha kaya di ko na naswap send lang agad

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4 years ago

Can you pull out your stake anytime?

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4 years ago

Yes, you can withdraw it anytime.

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4 years ago

Okay. Thanks for the info. Will try to do my own research about Nexo. 😉

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4 years ago

Yes, do your own research there are many platform if you saw that deleted article of min about staking.. for example binance, coinbase, blockfi and many more.

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4 years ago

Okay. Thank you again miss

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4 years ago

But i think blockfi interest rate is now higher than nexo.. I read an article bout it comparing the two.. Nut blockfi doesnt have bch i guess... didn't check other crypto yet

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4 years ago

Oh maybe, I read some user here too that stake on blockfi, I didn't read about blockfi though.

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4 years ago

Is there min deposit amount on nexo?

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4 years ago

Oh thanks

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4 years ago

welcome 😊

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4 years ago