Who owns Nexo?
Nexo is a U.S.-based company that was founded in 2005 by Tom McGannon and Craig Jorasch. In 2008 the company was acquired by Shutterfly.
The company is headquartered in London, England, and was founded in 2017 by Antoni Trenchev, Georgi Shulev, and Kosta Kantchev. Nexo currently manages assets for 3М+ users across 200 jurisdictions.
About Nexo
Nexo offers Instant crypto-backed Loans. The company's project is a spin-off from Credissimo (credissimo.com), a European FinTech Group. It was founded in 2018 and is based in Zug, Switzerland.
Nexo Finance is registered and based in Zug, Switzerland and is led by three Managing Partners as it has always been transparently declared. This is a public information and we were always happy to share it with our clients.
NEXO FINANCIAL SERVICES LTD — 12628866, London , UK. Free business summary — YouControl.
Is Nexo Trustworthy? Nexo is a reputable crypto savings and lending provider that is trustworthy and legitimate. It is regulated and licensed in more than 200 countries and has $100 million insured against theft, provided by the custodian BitGo.
Having analyzed Nexo prices, cryptocurrency experts expect that the NEXO rate might reach a maximum of $1.72 in November 2022. It might, however, drop to $1.55. For November 2022, the forecasted average of Nexo is nearly $1.59.
Nexo AG Company Profile | Zug, ZUG, Switzerland | Competitors, Financials & Contacts - Dun & Bradstreet.
Please rest assured that Nexo is compliant everywhere it provides services and retains top-tier legal counsels in the jurisdictions of its operation. All aspects of Nexo's activities are vetted before execution by the relevant legal and compliance teams.
Nexo Help Center
We are still assessing the implications of the Common Reporting Standards to our business and, for the time being, we do not believe to be required to disclose any information about transactions to the IRS or other tax authorities, which remains our customers' sole responsibility.
How old is Nexo?
ZUG, Switzerland, May 1, 2018 /PRNewswire/ -- Nexo, powered by 10-year-old leading European FinTech group, Credissimo, launched its platform for instant crypto-backed loans.
Nexo has raised a total of $52.5M in funding over 2 rounds. Their latest funding was raised on Apr 4, 2020 from a Debt Financing round. Nexo is funded by Arrington XRP Capital .
In essence, when Nexo users stake their cryptocurrencies and stablecoins in the Nexo account, their assets are securely stored and insured by BitGo.
Is Nexo Regulated? Nexo is an EU licensed and regulated financial institution. You can read more about that here.
Nexo currently services over a million users across 200+ jurisdictions, managing over $4 billion in assets. The company currently has 150 employees, with its management based in London.
Nexo is a cryptocurrency platform that offers bank-like services such as interest-earning accounts and crypto-backed loans.
Is investing in NEXO a good idea? Yes. According to our Nexo price forecast, investing in it will be a good idea at the current price levels. However, due diligence is always advisable.
From now on, Nexo will cover the gas fees – paid to miners as compensation for adding a transaction to the blockchain – on up to 5 of your crypto withdrawals per month.
Nexo's 24/7 customer support and higher rates on cryptocurrencies (particularly through its loyalty program) may attract potential users. However, Celsius wins in this review with a broader amount of supported assets, and well-thought-out user-side protection features.
They predict that NEXO could reach a maximum price of $3.54 in the year 2022. When it comes to NEXO's long-term price, they predict that by the year 2030, the price may reach a maximum value of $70 and a possible value of $100 by 2031.
How popular is Nexo?
By its own count, Nexo boasts more than four million global users across over 200 jurisdictions, with $80bn worth of assets under management.
In 2023, the price of Nexo is expected to drop to a minimum of $2.21. With an average forecast price of $2.27 during 2023, the Nexo price can go as high as $2.79.
On average, Nexo seems to have slightly higher APYs on the lower tiers, but Celsius takes the cake if you are going for the Gold or Platinum levels as the APY rates on Celsius are higher than Nexo once you get into the higher tiers.
The NEXO Token operates via contemporary standards on two of the most popular networks in the Crypto Space: Ethereum network - via the ERC-20 standard. Binance Beacon Chain network - via the BEP2 token standard.
- Bulgaria.
- The Central African Republic.
- Cuba.
- Estonia.
- Iran.
- The US state of New York.
- The US state of Vermont.
- North Korea.
For new accounts, "Nexo's Earn Interest Product in its current form will not be available for new clients, until the restructuring of the Earn Interest Product and the registration process with the relevant regulatory bodies are finalized, as per the recently received guidance."
The Nexo Crypto Exchange is a crypto exchange that Nexo Wallet app users can access. Like most exchanges, it offers a sizable collection of cryptos for trading. Users can exchange fiat currencies and multiple cryptos, including several stablecoins.
Due to security and compliance reasons, new accounts, especially those holding substantial amounts of NEXO Tokens, might experience withdrawal processes of up to 24 hours. Depending on your Loyalty tier, you will receive between 1 and 5 monthly crypto withdrawals completely free of charge.
Nexo Help Center
You can withdraw your assets from the platform at any time. In order to initiate the process please use the “Withdraw” button next to the currency you wish to withdraw. You will then be required to fill in the desired amount and your Bank Country (the country where your bank is located).
Trading NEXO and XRP is currently unavailable for US citizens and US residents.
How do I do taxes with Nexo?
Nexo Tax Reporting
Simply navigate to your Nexo account and download your transaction history from the platform. Import your transaction history directly into CoinLedger. Import the file as is. No manual work is required!
The current price is $0.932168 per NEXO. Nexo is 79.87% below the all time high of $4.63.
io's top 5 competitors in June 2022 are: shop.ledger.com, crypto.com, faucetcrypto.com, gate.io, and more.
Nexo is part of Credissimo, a publicly traded fintech company founded in 2007.
If someone gains unauthorized control over your email, they could potentially gain access to your Nexo account. It is vital that you have good security for your email; this includes a strong password, security questions, and 2FA.
Bakkt. Bakkt is a trusted digital asset platform providing Nexo with Bitcoin and Ethereum custody in the Bakkt Warehouse, the company's regulated custodian, which comprises both online (warm) and air-gapped (cold) digital asset storage to minimize risks.
Nexo AG Company Profile | Zug, ZUG, Switzerland | Competitors, Financials & Contacts - Dun & Bradstreet.
Please rest assured that Nexo is compliant everywhere it provides services and retains top-tier legal counsels in the jurisdictions of its operation. All aspects of Nexo's activities are vetted before execution by the relevant legal and compliance teams.
Nexo Help Center
We are still assessing the implications of the Common Reporting Standards to our business and, for the time being, we do not believe to be required to disclose any information about transactions to the IRS or other tax authorities, which remains our customers' sole responsibility.
Is Nexo Regulated? Nexo is an EU licensed and regulated financial institution. You can read more about that here.
How does Nexo make money?
How Does Nexo Make Money? Nexo makes money on the differential between crypto loans and deposits. This is pretty typical for cryptocurrency interest account and lending platforms. Its cryptocurrency loans may offer rates as low as 5.9%, but those rates may increase in order to pay higher interest to depositors.
ZUG, Switzerland, May 1, 2018 /PRNewswire/ -- Nexo, powered by 10-year-old leading European FinTech group, Credissimo, launched its platform for instant crypto-backed loans.
In essence, when Nexo users stake their cryptocurrencies and stablecoins in the Nexo account, their assets are securely stored and insured by BitGo.
For new accounts, "Nexo's Earn Interest Product in its current form will not be available for new clients, until the restructuring of the Earn Interest Product and the registration process with the relevant regulatory bodies are finalized, as per the recently received guidance."
Nexo doesn't have a banking license and your deposits on Nexo are not insured by the FDIC.
Nexo is a cryptocurrency platform that offers bank-like services such as interest-earning accounts and crypto-backed loans.
Nexo Help Center
You can withdraw your assets from the platform at any time. In order to initiate the process please use the “Withdraw” button next to the currency you wish to withdraw. You will then be required to fill in the desired amount and your Bank Country (the country where your bank is located).
Trading NEXO and XRP is currently unavailable for US citizens and US residents.
Nexo Tax Reporting
Simply navigate to your Nexo account and download your transaction history from the platform. Import your transaction history directly into CoinLedger. Import the file as is. No manual work is required!
Nexo's 24/7 customer support and higher rates on cryptocurrencies (particularly through its loyalty program) may attract potential users. However, Celsius wins in this review with a broader amount of supported assets, and well-thought-out user-side protection features.
Is Nexo a wallet or exchange?
The Nexo Crypto Exchange is a crypto exchange that Nexo Wallet app users can access. Like most exchanges, it offers a sizable collection of cryptos for trading. Users can exchange fiat currencies and multiple cryptos, including several stablecoins.
Secure your NEXO assets
Cold storage wallets are typically encrypted devices that store users' Nexo assets offline, providing a layer of security against the evolving threats emerging from being connected to the Internet.
