Greetings bitcoincashers. As I have mentioned from before this article will be my review from holding Nexo vs CST Part II. And since I have already written my review from CST, the topic today will focus more from Nexo. And again as I have mention from before, I have earn more in gambling and trading waifus more than hodling the two.
And I will remind you that gambling has made me lose some money too. Haha. Very risky my friend and in trading it requires effort to study the market trend to minimize risk. Well if you aren't fond of doing these things I have mentioned you can read more below to checked it out if hodling bitcoincash at Nexo is for you.
Disclaimer
This will focus on my personal experience of hodling Nexo and will be based from my personal opinion and observation. I am not encouraging you to go with me to invest in Nexo but read it and take a look if it is for you.
MY NEXO REVIEWFrom my previous article I wrote there that I have put a small amount of BitcoinCash to experiment if putting all my hard earned bitcoin cash there, is possible with me. Last February or say 26days and 1 month back, I put a small amount of bch in Nexo amounting to 0.04bch and its current price is about $20. And now I have to show you how much I made from 0.04bch.
Suppppeeerrr. With its 4% per annum interest it is the earning that I got. Not even close to cst. If we will look back to my earning from CST I invested only 0.025923 bch and I earned 0.0016095 bch.
While on Nexo I earned about 0.00015055bch and with my first 4 days I earned Nexo token of 0.00503561.
Well it is not bad though. But the thing is compare to cst the profit is really small even my investment is almost double from what I bought to cst. The only thing that differs is that cst is a token while bch remains bch.
Let me give you more elaboration.
Daily nexo is giving me 0.00000430 bch --- the profit is small because my "investment" is small. How about we put it to this, Say I invest, 30 times more than I invested. So it would be 30x0.04 say 1.2bch then on my first day I would get 0.00000430x30 = 0.000129 bch. And since the daily interest will profit too, your daily profit will also increase. Say for example, from my daily profit on the first month I got 0.00000430 bch right? After accumulating those 0.00015055bch an additional satoshi has been added to my profit. Or let's say the profit is not compounding. And you put 1.2bch on your nexo wallet after 52days your profit assuming, it is not compounding, you would gain 0.006708bch what about if you put it for a year or in 365 days? You'll have 0.047085 bch without doing anything! And only assuming that the profit is not compounding! But in Nexo your money is compounding! And what if the price of bch after a year becomes $2000? That would be $94.17 after a year.
Notes that it is all assumption! Because, your money in nexo is compounding, it could be higher than 0.047085 bch.
Advantages of Nexo.
You can set whether it is fixed or flexible. If flexible you can withdraw your money anytime but the current interest would be 4% only. While if it fixed monthly you would get 5% interest. (For basics)
Your money will grow in compounding.
You are not doing anything just waiting for it to grow.
You can have a loyalty upgrade for an increase percentage of return. ( I did not avail these so I have no experience from this)
Your bitcoin cash is intact, the price may vary but your bch is still there. Unlike when hodling cst.
Disadvantage of Nexo.
You need higher investment for higher return.
If you check out on reddit you will read about the issue by not announcing the change of interest in both and flexibke and fixed term.
We never know if they will still change interest rate.
Conclusion (Not a financial advice ;)
Whether with cst or Nexo you can earn both while doing nothing and letting your money work for you. My insights is just the both are good but the profit is long term. If you just want to hodl your bitcoincash you can put it to nexo if you want to earn more buy a small amount of cst token. Put the weekly interest on nexo and gain more.
I think trading is more profitable check out my quiz and you will know. But hodling for the future is also a good strategy. Always diversify and add different hodling in your bag. Like in gambling, it is always dangerous to go all in. ;)
M I N I Q U I Z for 1$The problem!
Did you ride within the wave of the market this week? Well the problem will focus on usdt alone. Usdt is a stable coin and is equalize as 1$. So here is the problem, suppose buyer A bought Bitcoin Cash with a small amount and in order for him to reached its 100$ value he needs to sell his bch at $690 price. So because of the market trend he was able to sell his hold. Since he was not satisfied with the 100$ he then again bought his 100$usdt of bch when the price again hits $600, and he successfully executed the transaction. Today bch hits $715 and he was able to sell his hold again. The question is simple. How many usdt he has now? If we will disregard all the transaction fees. Show your solution!
T H A N K Y O U FOR READING!Did you get bored? Hope you did! Thanks and correct me if you have seen errors on what I have written!
That's why I move my money from Nexo to Waifu. Actually $10, lang un naging $24 lang gawa nong nag out ako dun mataas na ang bch ahaha. Tumubo pa rin pero ang baba pa rin ng interest haha. Pero if malaki funds mo jan sguro malaki din kikitain mo. Mas bet ko pa rin sa binance spot trading haha. Wag lang bbli mh mataas ang price ng coin ganon.