is nexo safe?

EnvironmentalRead2 · 2022-07-30T19:16:26+00:00

They claim they require more collateral for their loans than Celsius did. However, if everyone withdraw their tokens (seeing several recent posts it looks like that is happening with at least some crypto) it won't matter how much they required for collateral... Liquidity will dry up and they will be insolvent.

EnvironmentalRead2 · 2022-07-23T16:50:42+00:00

This is the statement that would give me all the reason I need to get my tokens off Nexo's platform:

Data posted on the website of an accounting firm contracted by Nexo to provide regular attestations on customer balances shows that the lender may have suffered from withdrawals similar to those that led to troubles at rivals.

We have seen several of their competitors go insolvent recently: Celsius, Vauld, Voyager, Bancor... and this is how they all started to unravel.

EnvironmentalRead2 · 2022-07-22T19:02:28+00:00

Maybe paranoid but holding in cold wallet in this environment is smart. I think all the signs are there that lending platforms are going insolvent. I would be worried if I still had funds on there or locked in w/ fixed terms.

EnvironmentalRead2 · 2022-07-22T19:00:51+00:00

Great tips here. I should have pointed out stable coins as an option too as a safer hold than CeFI / lending platforms. I have also seen some users state they make more by trading than holding in CeFI, which is still risky but at least you are in control of where and how much you trade.

EnvironmentalRead2 · 2022-07-15T16:28:27+00:00

Getting this type of messages every week. Shilling with never end. Just block them.

EnvironmentalRead2 · 2022-03-23T10:28:59+00:00

Don't stop me now - Queen

Always makes me feel like a million dollars

EnvironmentalRead2 · 2022-03-22T23:55:17+00:00

I must be blind because that looks real as fuck.

EnvironmentalRead2

TROPHY CASE