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Increase your Earnings while Holding in Nexo

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Written by   469
1 year ago

They said holding is more profitable than being a trader. It is true in my opinion especially if you are going to hold your assets for a long term. It is also one of the less risk type of investing when it comes to cryptocurrency.

In holding, you don't need to work. You only need to buy and hold it for months or even years. However, if you want to take advantage of waiting, you will have an option where you can still earn without doing nothing. This is where Nexo introduced.

What is Nexo?

It is a lending platform where you can put your assets to hold it while earning interest. It is like a bank, the only difference is they are giving higher annual interest rate compared to a normal bank in your country.

You can put more than 40 fiat and cryptocurrency in Nexo including Bitcoin, Cardano, Binance coin, Bitcoin cash, Ethereum and other stable coins like USDT and much more.

As of writing, Nexo has 2 million+ of users. You can click this to redirect on their official website.


Disclaimer: Everything written on this article is based on author’s opinion and research. This is not a financial advice nor sponsored.

Last month, I decided to send Bitcoin cash on my Nexo account to earn a decent amount of interest. They were only cents but at least we are earning.

Nexo offers two kind of terms; the flex and fixed terms. In the former, you can earn interest up to 4% based on your level. Since it is a flex term, you can withdraw your assets anytime but based on my research, you only have one time withdraw each month if your loyalty level is a base level.

👉Click this to look on different loyalty level.

As of now, my current level is still on Base level, you can increase your level by purchasing or topping up their token which is NEXO. You will also have incentives and benefits if you will hold their token.

Meanwhile, in fixed term, you will have an additional 1% interest rate compared to flexible term. Obviously, you will have 5% interest rate per annum. But keep in mind that once you put your assets in fixed term, you cannot withdraw it for one month.


After reading @kli4d ’s article about locking up your asset in Nexo, I also tried it and had a great experience for earning some BCH.

I took advantage of their 5% interest rate last month, your asset will locked up accrues your daily interest. Based on my experience, the daily interest in flex term will compound automatically on your initial deposit and earn interest as well.

If I am not mistaken, it is the same on fixed term. It will also automatically compound on your active fixed term and earn interest.

Correct me if I'm wrong

This photo was captured from Nexo’s official platform. You can also read the attached link below to read more about fixed term of Nexo.

👉Read this to understand fixed term in Nexo.


Last month, I sent more or less 0.3 BCH in my Nexo account to test how the fixed term works. After exploring the platform, I decided to lock my asset for 1 month to earn 5% interest rate which is higher than the interest in Bank of the Philippines.

The photo is the transaction from Nexo, it is my separated fixed term for 1 month. In my 0.05 BCH deposit, I earned 0.00023 BCH after 1 month which is ≈$0.12 when they released it.

As of now, I still have one active fixed term that will be done on August 9, 2021.

The initial deposit is 0.24 BCH and currently earning 5% interest rate.


Review + Conclusion

After the 1 month contract of my 0.05 BCH from fixed term and earned ≈$0.12 after 1 month, I can say that it is worth it and good to consider as your passive income.

When my current active term is done, I am planning to renew it all again and take advantage of the interest (just taking the risk).

One advantage of Nexo, based on my experience and observation, they are paying the interest based on the specific coin’s value (e.g BCH) not on USD value. Thus, you will still earn the exact amount of interest daily.

Furthermore, they are also compounding your interest daily and it is a good sign to earn even a cent monthly or annually.

Conversely, putting your assets in custodial platform will put your coins in risk. They said “Not your keys, not your coins”. Thus, researching will guide you to decide on which is better between the two: Put it to the risk but earn passive income or play it safe and don't earn on your holdings.

At last, this article is just a guide and opinion about Nexo. Anything written on this is not a financial advice, invest at your own risk.


To end this, you can read Nexo’s Security and Insurance article written by their support.

👉 Click this to redirect.


Published: August 6, 2021

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Written by   469
1 year ago
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Comments

I have registered to your link and my account is already set up. I sent $20 just now and the transaction from the Bitcoin.com wallet is currently pending. How long will it take to appear at Nexo?

$ 0.00
1 year ago

Thanks for the info po.

$ 0.00
1 year ago

No problem

$ 0.00
1 year ago

Thank you for this meron akong natutunan... I think I'm gonna try this.. God bless you. More achievements..🙏❤️

$ 0.00
1 year ago

Thank you😄

$ 0.00
1 year ago

nilagay ko yung 1 bch ko sa nexo fixed term bahala na si batgay LOL

$ 0.00
1 year ago

Fully verified ba iyo?

$ 0.00
1 year ago

hanggang advanced lang

$ 0.00
1 year ago

Buti sa'yo fully verified na. Kaya wala akong lakas ng loob maglagay ng malaki gawa ng basic verification lang sakin haha

$ 0.00
1 year ago

wala ka pa passport?

$ 0.00
1 year ago

Wala hehe

$ 0.00
1 year ago

Balak ko yung magiging 1 BCH ko sa nexo ko ilalagay para di ako matuksong galawin hahaha

$ 0.02
1 year ago

Lakas ng loob grabe hahahaha gusto ko din ilagay sakin kaso nakakatakot din hahaha

$ 0.00
1 year ago

Ayaw ki na mag take risk. Hayaan ko nalang ung sakin dun sa kabila. Ahaha.

$ 0.02
1 year ago

Risky din naman Binance ah hahaha same lang naman silang centralized.

$ 0.00
1 year ago

Un nga, kaso maliit lang nasa binance ko naman.

$ 0.00
1 year ago

Hindi po ako masyadong marunong tungkol sa mga ganito pero thank you po sa information kahit papaano nadadagdagan ang kaalaman ko at paunti unti ay natututunan ko na din.

$ 0.02
1 year ago

You're welcome! Magandan nga 'yung natututo ka paunti-unti, one step at a time ika nga.

$ 0.00
1 year ago

Yes po atleast natututunan ko sya slowly but surely po.

$ 0.00
1 year ago

Sana all risk taker (1). Anyway, pag-iisipan ko kapag naka-1 BCH na ako. Sana lang talaga haha

$ 0.02
1 year ago

Hahahaha sayang din interest e. Malapit ka na maka 1bch!

$ 0.00
1 year ago

Andun parn ETH at BCH ko. Ginagawq ko article kasama rin ang nexo 🤣

$ 0.02
1 year ago

Ilang bch iyo?

$ 0.00
1 year ago

1.4 lng

$ 0.00
1 year ago

Dami nga e hahaha saki 0.3 lang

$ 0.00
1 year ago

Since I'm new in this kind of thing .. all I can say is that wherever you want to put your assets..it must be safe and I might look, research about Nexo.. It might be helpful when I have enough bch 😊

$ 0.00
1 year ago

You chose the great decision, research first!

$ 0.00
1 year ago

Huh sna my pang lagay din aq jan, soon.. Ipon pa more

$ 0.02
1 year ago

Keep it up and you can save some BCH in Nexo😄

$ 0.00
1 year ago

Sanaol risk taker. Hahaha 🤣 Nung hindi ko maopen ung Nexo app ko, tinanggal ko na lahat ng BCH ko dun ih. 🤧🤣

$ 0.02
1 year ago

Tinanggal ko din sakin e pero naisip ko sayang din interest, nakakapaglagay nga ako sa Binance pero dito hindi hahaha sana lang talaga wag magloloko.

$ 0.00
1 year ago

I’ve known Nexo bank for long but I’ve not tried them. Maybe it’s time to give them a try.

Thanks for sharing

$ 0.02
1 year ago

It's risky but I am taking it! You're welcome😄

$ 0.00
1 year ago

Someone suggested Nexo but I am yet to try. I might try that one soon.

$ 0.02
1 year ago

Good luck, make it sure that you do your research before putting something there!

$ 0.00
1 year ago

Yeah. Research do wonders.

$ 0.00
1 year ago

Might try this as well. Do they require KYC and valid ID verification first before you can invest?

$ 0.02
1 year ago

You can deposit anytime and do the KYC later. It has three levels of KYC I only passed the Basic verification which requires name and address, the third one needs government id.

$ 0.00
1 year ago

But can you still withdraw without a government ID?

$ 0.00
1 year ago

Yes, I tried to withdraw before and I got it right away😄

$ 0.00
1 year ago

Can I transfer it to Bitcoin.com or coins.ph wallet?

$ 0.00
1 year ago

I withdrawn my BCH from Nexo to bitcoin.com before. I barely use coins.ph (I only use it for e-loading) so I don't know if it will work.

$ 0.00
1 year ago

Okay. Thanks for the info. I'm putting this into consideration. 🥰

$ 0.00
1 year ago

You're welcome😄

$ 0.00
1 year ago

I also have a minimal amount saved there, and I am pleased to see the interest I am earning. Although minuscule compared to other people, it just shows me that it works. I am thinking to hold more in there in the future,

$ 0.02
1 year ago

So do I. I am afraid to put my whole BCH there thinking that I will lose it so I only hold 0.3. I am thinking to put more, maybe a half BCH will do.

$ 0.00
1 year ago

I put my 1bch there hahha ang it is now 1.0066 haha 🙈🙈

$ 0.02
1 year ago

For how long did you put your 1 BCH? haha

$ 0.00
1 year ago

Uh pautay utay haha nabuo ko siya nung july hahah 😆😆

$ 0.00
1 year ago

Nice congrats! Gusto ko din maglagay ng 1 bch sa nexo kaso katakot😆

$ 0.00
1 year ago

hintayin ko nalang muna mawithdraw ni @meyzee ung kanya.. haha para alam kong safe. hahha

$ 0.00
1 year ago

Hahaha! Hanep nawiwithdraw naman! 😆😆

$ 0.00
1 year ago

hahaha patry nga. send ko address ko. hahah

$ 0.00
1 year ago

Hahaha currently writing how to withdraw in Nexo!

$ 0.00
1 year ago

That will be helpful. :)

$ 0.00
1 year ago

Haha thanks. Already read that. :))

$ 0.00
1 year ago