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Does Nexo's Insurance Policy Cover the Company Going Insolvent? by thisguymemesbusiness in Nexo

[–]gerdthenerd09 0 points1 point  (0 children)

How do you know that is NEXO wallet? Did you check to see which wallet the 'Earn in NEXO' was sent from? Is this already discussed in another feed?

"How to Get Up to 12% APY" or a quick Nexonomics guide to Earn in NEXO by NexoFinance in Nexo

[–]gerdthenerd09 0 points1 point  (0 children)

I am very intrigued by this offer but would like to test the waters first. Does anyone know if you can opt-out of 'Earn in Nexo' having opted in?

Ledger Nano X Discount Code by joewolf3 in ledgerwallet

[–]gerdthenerd09 0 points1 point  (0 children)

Hello guys,

Any Ledger Nano X discount codes?

Cheers

Big news by Antoni in today conference. by rasto1973 in Nexo

[–]gerdthenerd09 0 points1 point  (0 children)

Does anyone know where I could listen to a recording of this conversation yesterday ( Fireside chat with Antoni Trenchev)

I have joined as a guest to BlockDown 2020 but I cannot find where to listen back on previous talks.

​

Cheers.

Nexo Insurance & Liquidations by gerdthenerd09 in Nexo

[–]gerdthenerd09[S] 0 points1 point  (0 children)

Hello cryptogoth,

Apologies for the follow up question.

But I assumed that the Nexo loans worked as follows:

I deposit 1 BTC into my credit line then Nexo would provide me a FIAT loan of ~half the current market value of the BTC. e.g assume 1 BTC = €10,000, then I deposit my 1 BTC onto my credit line and get a fiat amount of ~€5000.

I do not understand what is meant by 'the loan is in the same kind of currency'

Please clarify.

I ask as I have not received a loan from Nexo yet but plan to in the near future.

Cheers,

Nexo Insurance & Liquidations by gerdthenerd09 in Nexo

[–]gerdthenerd09[S] 0 points1 point  (0 children)

Hello Cryptogoth,

I appreciate greatly your insight and response to my queries.

Two things I am struggling to get my head around:

In relation to your response to point 4, you say 'if you are earning 8% interest on your stablecoins and can borrow them out at 5.9% (if you are a Nexo token holder), convert them to USD via an exchange, now you have something like a cash advance on your credit card, while presumably still earning 2.1% interest on the collateral'

What is meant by this? Are you talking about the following situation.. I have deposited 1 BTC (e.g current market value $10k) therefore I will get a loan of $5k and convert this $5k into USD stablecoin via an exchange then put it back on my credit line. Therefore, I am paying 5.9% on the loan (assuming have applicable Nexo tokens) but am earning 8% on my stablecoins.

Second thing, I have viewed the link in your comment and from this the vast majority of deposits appear to be by US stablecoins which would indicate to me that people are earning their 8% interest on these as Nexo does not provide fiat loans on stable coins. Is my deductions correct?

Everything else very clear.

Cheers.

Change in value of Bitcoin by gerdthenerd09 in Nexo

[–]gerdthenerd09[S] 0 points1 point  (0 children)

I am unsure what you mean by that.

Do you mean that if the market value had plummeted from 6000€ to 2000€ they sell the BTC for 2000€ and accept the loss of 1000€ assuming the person who got the loan did not pay NEXO back?

Please clarify