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A bank deposit is currently up to 1% per annum ... and only by meeting the conditions of the promotion, depositing money for a specified period and only up to a certain amount. It seems that the times when you could live on fortune interest on your bank account are gone forever. Inflation eats savings several times faster than interest on the deposit is paid. So what to do? We will present the NEXO deposit.

Also check: The best deposits - 10% per year in DeFi

What is NEXO?

investment

Nexus is a technology-based financial services platform block chain. Its main product is loans secured by a deposit (such as kryptowalutowy pawnshop).

We pay against our pledge bitcoins or other cryptocurrencies and we take a loan with an attractive interest rate. This service is used by digital miners who do not want to sell the mined bitcoins at the moment, because their price is too low in the short term and electricity bills have to be paid.

In addition, taking loans instead of selling cryptocurrencies is a smart way to bypass the capital gains tax (currently 19% in Poland) or to optimize tax in a given tax period.

In addition, NEXO offers attractive deposits, which we will discuss below.

If you want to know more about the NEXO project itself, read on our review available here.

The interest rate on the NEXO deposit

NEXO offers deposits in traditional fiat currencies.

We can pay by ordinary bank transfer EUR (euro) or GBP (British Pound). We get for keeping them on our account 8% per annum with daily interest capitalization! Thanks to this, the effective interest rate is up to 8,3% per annum, as interest is also charged.

The same interest rate applies USDwhich, however, we cannot pay by traditional bank transfer. We need to do this using cryptocurrencies, one of the stable coins with an exchange rate corresponding to the US dollar, e.g. TUSD (True USD), USDT (Tether), USDC, PAX, or DAI.

However, this is not the end. The interest rate on a NEXO deposit can be even higher by 20%. The condition is that you have NEXO project tokens on your account. Their current value must be equal to or higher than 10% of the value of all our other deposits.

If we want to open a EUR 1000 deposit on 10% annually we need to have NEXO tokens worth more than 100 euro on our account of the NEXO platform. Remember, however, that the NEXO price is changing dynamically (as it is on the cryptocurrency exchange). If the value of our NEXO drops below the required threshold of 10% of the value of deposits, the interest rate on deposits will automatically drop to the standard 8%.

Purchased at an attractive NEXO rate, it can be a good investment in itself as its holders are entitled to a dividend that is regularly paid by the company. NEXO shares 30% of its income with NEXO token holders.

In addition to deposits in traditional currencies and the corresponding tokens, NEXO also offers deposits for holders of cryptocurrencies. We can deposit one of several major cryptocurrencies such as bitcoin, ethereum, litecoin or BNB and earn on the deposit 4% or 5% annually (with NEXO tokens).

… Or maybe an investment with the competition?

Diversification is essential. It can also be used in this case, not only for a NEXO deposit, but also by using other, competitive services offering deposits with attractive interest rates.

An overview of the current offer, along with information about the annual interest rate, is presented in this article.

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Tokeny.pl is a cryptocurrency site run by a crypto team of enthusiasts. The main area of ​​our interest are cryptocurrencies, tokens, personal tokens as well as blockchain technology. On the pages of our website we will present independent cryptocurrency reviews and interesting articles from the market. In addition, we present the current rates of all critics. The site also has a multi-functional cryptocurrency calculator as well as traditional currencies.

The information published on the cryptocurrency tokeny.pl website are not financial recommendations and do not constitute investment recommendations within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information being recommendations regarding financial instruments, their issuers or issuers (Journal of Laws of 2005, No. 206, item 1715). The information published on the pages of the portal does not constitute an offer. Tokeny.pl is not responsible for any decisions taken under the influence of data presented on the Website. Portal does not bear any responsibility for the possible use of information on the website.

Investments in OTC market instruments, including currency exchange rate (CFD) contracts, due to the use of the leverage mechanism, entail the possibility of incurring losses exceeding the value of the deposit. It is not possible to make a profit on transactions on OTC instruments, including currency exchange contracts (CFDs) without risking a loss, therefore contracts for exchange differences (CFDs) may not be suitable for all investors.

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