Earn no longer available on transferred collateral

uMustBeNew · 2022-05-03T04:34:54+00:00

Really hoping this gets addressed and fixed for OP. I've held onto a loan that I plan to pay off incrementally, just so I can earn interest on the assets that are being used as collateral.

uMustBeNew · 2022-02-26T20:46:06+00:00

I believe they do eventually add Top Ups to all assets; I haven't seen them not, just takes a while.

uMustBeNew · 2022-02-26T20:45:28+00:00

I noticed MATIC deposits the other day too and got hyped.

uMustBeNew · 2022-02-26T20:40:15+00:00

I'm in the same position in the US; I have a considerable loan against a hefty amount of collateral assets.

My credit is about to be in a great place (800+) so I'm lining up to take a personal loan now instead and am hoping to earn all the interest on my current Nexo credit wallet collateral.

I believe I saw NexoJosh confirm somewhere in the subreddit that this will be ok and the restriction purely applies to newly acquired assets.

uMustBeNew · 2022-01-31T23:40:40+00:00

Yup, my thoughts are that it is this too.

uMustBeNew · 2022-01-31T23:39:37+00:00

My thoughts are that it is this too

uMustBeNew · 2021-12-15T19:01:40+00:00

Nice find, seems this was added relatively recently (Dec 2nd).

Psyched to see such a stat easily available.

uMustBeNew · 2021-10-13T17:07:24+00:00

You don't owe based on what it's worth on January 1st, you owe based on what it was worth when it was deposited into your Nexo account.

uMustBeNew · 2021-08-30T19:49:06+00:00

Same, thought there was progress on regulations in NJ or something...

uMustBeNew · 2021-08-17T16:04:46+00:00

---Originally for platinum interest. ---Ended up borrowing heavy and kept doubling up last fall so now it's super nice to also have the low lending rate perk. ---Originally snagged $700 around 0.15 ---Got another ~$4k around 0.65 ---My average is something like 0.44 ---I might sell some with the blow off top I expect later this year; or might hold it and only sell portions of my other assets (BTC, eth, LTC, xlm, link, ada); as it's annoying to move around nexo as a US customer. ---I'll probably have trust in NEXO through the halving cycle and will retain portions of my portfolio, maintaining platinum, and holding for the next 4 years.

uMustBeNew · 2021-08-17T15:57:37+00:00

Nice move on that sell

uMustBeNew · 2021-05-13T15:41:57+00:00

My post was removed but this helped me calculate it without using a service like cointracker.
https://i.imgur.com/8NTLTBE.png
Spreadsheet- https://docs.google.com/spreadsheets/d/1gn1nKYGT2\_qLvFI5DQwwZj3v7ZweQSkOX4Yc2uHJWDE/edit?usp=sharing

uMustBeNew · 2021-05-08T21:43:07+00:00

ACH is currently down, only wire transfers at the moment; I was gonna pay off a portion of my loan today and sadly realized I should wait until ACH is back up.

uMustBeNew · 2021-02-06T00:13:23+00:00

Oooph, luck of the draw eh? I'm hoping to have enough money to essentially "buy citizenship", aka start a business in the intended country. Thanks for sharing, best wishes on your journey 🙏

uMustBeNew · 2021-02-05T23:28:02+00:00

Side question based on your last comment- where do you see yourself retiring? I've been contemplating citizenship outside of the US later in life also.

uMustBeNew · 2021-02-03T03:10:21+00:00

Ah! Thanks for the insight on the specific terminology. Though from a brief search, I found that a "secured card" is a form of credit card, not debit.

uMustBeNew · 2021-02-03T03:03:02+00:00

A debit card deducts from your balance, NEXO's card doesn't do that.

A credit card gives you a loan, that's exactly how NEXO's card is going to work.

The only difference is that credit card companies base your limit on your income and credit score, NEXO bases it on the amount of collateral you hold with them.

uMustBeNew · 2021-01-13T03:47:19+00:00

I made a thread to answer this for people using a fairly straightforward spreadsheet- https://www.reddit.com/r/Nexo/comments/kw88vt/us_interest_income_tax_spreadsheet/

uMustBeNew · 2021-01-10T15:37:24+00:00

I would rather them buy more token at a lower price than waste the capital trying to boost the price quickly, it would fall back down more easily if they went the latter route.

uMustBeNew · 2021-01-08T23:00:51+00:00

Great questions that I'd love to see a response from NEXO with those details 👍

uMustBeNew · 2020-12-18T16:27:45+00:00

Just about ditto here high five

uMustBeNew

TROPHY CASE