How to buy and hold NEXO with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for Nexo (NEXO) storage
Ultimate security, only you have access to your Nexo tokens
Send, Receive, Store your Nexo tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange Nexo (NEXO) directly in the wallet
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The Nexo (NEXO) token review
NEXO is the native token of the Nexo platform, an Ethereum-based network that connects cryptocurrency with traditional banking.
About the Nexo Project
The Nexo project was introduced in 2018 as a platform that delivers financial solutions like crypto lending services. Using crypto as collateral allows token holders to generate passive income and access cash without selling their assets on this platform. Within five years, it has processed over $150 billion in transactions and garnered over 6 million worldwide users. Nexo has evolved to allow users to easily buy, sell, swap, and borrow digital assets.
After the NEXO token introduction in March 2018 at $0.10, the coin reached an all-time high of over $4 in 2021. It’s the utility coin for the Nexo ecosystem and has a maximum supply of 1 billion tokens.
The NEXO Token Use Cases
- Unlock Exclusive Features – Users can get early access to new products and services and enjoy exclusive discounts on the platform using NEXO tokens.
- Interest Distributions - Token holders earn daily interest and up to 12% APY on the platform.
- Governance - Users can vote on the platform decisions, such as interests and project development, through a DAO system.
- Use as collateral - Holders can leverage their assets as collateral to secure loans at fair interest rates.
- Loan Repayments - Using NEXO tokens, users can settle their outstanding loan balances on the platform.
The NEXO token has 560 million coins circulating out of a total supply of 1 billion. It’s used to access higher annual dividends and reduced loan interest rates on the platform. But before buying this token, consider the risks, rewards, legal and regulatory status.
The main holders of the NEXO token are users who utilize their assets to access the platform’s features and benefits and those engaging in lending services where the coins serve as collateral for loans. It’s currently priced at $0.84. The coin value is influenced by and market . Also, remember that the market is volatile, so thoroughly research the current market conditions to avoid financial losses.
NEXO faces regulatory challenges that affect its widespread adoption. Also, the volatile crypto market may impact borrowing conditions if the token value falls below a certain threshold. So, it's essential to understand these challenges and comply with local authorities’ laws.
We advise you to use the Wigwam crypto wallet to buy NEXO. It's a quick and convenient solution to buy and hold tokens in a secure way. Also, crypto exchanges are good platforms to buy this token, some of the examples are Binance and Bitfinex.
You can't stake this coin the traditional way. Instead, the platform rewards users with interest on deposited tokens using the Earn feature. Visit the Nexo website, create an account with your email and password and verify your identity. Download the wallet and transfer your assets. You can also purchase it on the network, but earnings start 24 hours after depositing the token, and users can save assets in the wallet.
Use blockchain explorers to check address activities on this network successfully. Among multiple options, Ethplorer and Etherscan are popular among beginners for their ease of use. Check the chart, transfer, and contract information on Ethplorer. Also, Etherscan lets you view transaction history and market prices.
To add this coin to your wallet, connect it to the Ethereum Mainnet successfully. Go to your profile and type “ETH mainnet” in the search box, then select it. The process is seamless on wallets like Nexo or Metamask. Open the wallet, click “import tokens,” and search for NEXO. Select it as the token to import. If you don't see your assets after importing, consider the manual approach. Click on “custom token” and enter your token address: 0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206. Then, input “NEXO” for the symbol and “18” for decimals. Confirm and check your assets in the wallet.
The value of NEXO tokens can be highly volatile, with prices subject to rapid fluctuations due to market trends, regulatory news, and broader economic factors, potentially leading to significant financial loss. Do your research before buying any crypto.