Over the last week, there’s been talk among the community about the potential addition of Cardano’s ADA to the Nexo platform. Well, we’re thrilled to tell you the rumors are true! Cardano is now available for Nexo’s financial services.
Check out how you can benefit from the new integration:
- Buy ADA on the Nexo Exchange and get cashback.
- Еarn up to 8% interest on ADA, paid out daily.
- Borrow against your ADA with the industry’s most versatile crypto credit line.
With the initial Cаrdano launch, clients will be able to add the coin to their Nexo Wallets by purchasing it through the Nexo Exchange. ADA withdrawals and deposits will remain temporarily unavailable, but will become possible on the platform in due time. More information on our new approach to asset integration can be found further in this article.
Details about Nexo’s services for Cardano’s native coin are available below 👇.
Buy ADA with Fiat or Crypto
Buying Cardano on the Nexo Exchange is one of the fastest, safest and most user-friendly ways to purchase ADA. You can buy Cardano on Nexo using crypto or you can use our direct fiat on-ramp and get ADA in your Nexo Wallet in a matter of seconds. Our integrated exchange offers over 100 trading pairs and optimal rates from our industry-unique Smart Routing System which pools prices from multiple exchanges and finds the best one for you.
The new Cardano integration comes with a 0.5% cashback on all ADA purchases through the Nexo Exchange. The offer ends on July 6, 2021, so hurry up and make your purchase.
ADA Trading Pairs on the Nexo Exchange:
ADA/BTC ADA/ETH ADA/BNB ADA/USDT АDA/USDC ADA/HUSD ADA/USD ADA/EUR ADA/GBP
Earn on ADA
Our Earn on Crypto product gives you up to 8% interest on Cardano. All you have to do is hold ADA in your Nexo Wallet and you’ll receive interest payouts daily. You can choose between a fully flexible account with no lock-ins by selecting FLEX Terms, or you can bump up your yield with Fixed Terms.
Borrow Against ADA
Nexo’s Instant Crypto Credit Lines™ allow you to borrow cash using Cardano as collateral at rates starting from just 6.9% APR and a loan-to-value ratio allowance of 30%.
When we say instant at Nexo, we really mean it: Our platform processes credit requests automatically, making approvals instant. We’ve also made sure credit withdrawals are available via your local bank within 24 hours.
The Instant Crypto Credit Lines™ also provide one of the most flexible crypto lending services. To make borrowing easier and more accessible, our borrowing minimums start from just $50. Plus, there are no installments, no minimum loan repayments, and no hidden fees so you’re free to manage your credit as you see fit. And to top things off, we’ve completely eliminated credit checks, since Nexo only offers loans on a overcollateralized basis which ensures the safely of our business and clients’ funds.
Why Nexo’s Credit Lines for ADA Are Unique?
Unlike regular crypto loans, Nexo offers crypto credit lines which means you can take out as much or as little cash as you want, whenever you want as long as you maintain a healthy LTV ratio. Interest is accrued only on the sum you actually withdraw for as long as you have it for, ultimately giving you one of the most versatile and cost-efficient credit services in the blockchain space.
About Cardano, ADA & IOHK
Cardano is a proof-of-stake blockchain platform that combines innovative solutions in order to create new levels of security and sustainability to decentralized systems and the communities that use them. Cardano’s mission is to redistribute power from unaccountable institutions to the hands of individuals and through this to enable positive change to the blockchain space and other industries. ADA is Cardano’s native digital currency for which Nexo now offers its suite of financial services.
Our Cardano integration is brought to you in partnership with IOHK, one of the organizations behind the Cardano system. IOHK is an R&D and product engineering company, committed to using peer-to-peer innovations to provide financial services to the 2 billion people who don’t have them. They build blockchain based products for governments, corporations and academic institutions and upskill people across the world, empowering them to solve the most pressing problems faced by people in their countries. The company’s core beliefs focus on decentralization, privacy, economic identity and financial empowerment for everyone, and stand opposed to centralized control and bureaucracy.