It’s All About the Similarities: Nexo Adds NEAR

Mar 18, 2022 4 min read

Asset Updates

Nexo is all about diversity and utility when it comes to adding new cryptocurrencies on our platform and NEAR has a lot going for it. For a start, its native blockchain, the Near Protocol is positioned as a competitor to Ethereum and has already secured $800M in ecosystem grants. It brings a turnkey solution to existing use cases. You can probably see where this is going, so we’ll cut the small talk. We’re happy to announce NEAR has joined Nexo and is now available in our product suite for you to enjoy! Here’s how you can make use of it:

Buy: Buy NEAR on Nexo and receive it in your account immediately. Get up to 0.5% in free crypto on each purchase and exchange transaction you make.*
Earn: Get a 10% yield when you buy and hodl NEAR on Nexo.
Boost: Use the Nexo Booster and increase the buying power of your NEAR by up to 3x to get more of it or any other crypto!
Exchange: Swap NEAR for other cryptos on the Nexo's crypto exchange hassle-free.
Borrow: Open a credit line with your NEAR at rates starting from 0% APR.

*The amount of free crypto you receive depends on your Loyalty tier. The higher your tier, the more crypto you get. Ex. Platinum users get the full 0.5% of your original transaction in crypto rewards.

The NEAR Future Looks Bright?

NEAR came out in late 2020 and has already shown tremendous potential in its lifespan. The founding team behind NEAR and the Near Protocol aim to establish their project as an alternative to the mighty Ethereum – certainly an ambitious feat. However, the Near Protocol utilizes proprietary technology to address important scalability and user-friendliness challenges for both developers and end-users.

This has corresponded with NEAR reaching an all-time high of over $20 in early 2022 and the project bringing in hundreds of millions in financial support for its diverse ecosystem. It’s gained around 1000% in value since its inception and is firmly in the Top 30 cryptos by market cap. Is the NEAR future bright? We’d like to think so!

Buy NEAR on Nexo

Now that NEAR is available on Nexo, adding it to your wallet and portfolio is effortless. Use your Visa/Mastercard debit and credit cards to purchase and receive it in seconds. Alternatively, you can head over to the Nexo Exchange, browse through the available asset pairs and swap another cryptocurrency for NEAR. The Nexo Booster is also at hand – use it to boost NEAR and get more of it or buy other cryptocurrencies you fancy! The currently available NEAR pairs are:

NEAR/BTC
NEAR/ETH
NEAR/USDT
NEAR/USDC
NEAR/EURx
NEAR/USDx
NEAR/GBPx

Is 10% (on) NEAR Enough?

We see the potential in Near Protocol’s NEAR token, which is why we’re inviting you to earn a healthy return when keeping it in your Nexo account. Simply buy it with your card or convert another crypto to NEAR on the Nexo Exchange and that’s that – you’re ready to earn daily! The Earn rates are subject to your personal Loyalty tier; you can view our Earn offerings on NEAR below:

Platinum: Maximum rate – 10%. Standard rate – 7%.
Gold: Maximum rate – 8%. Standard rate – 6%.
Silver: Maximum rate – 7%. Standard rate – 5.5%.
Base: Maximum rate – 6%. Standard rate – 5%.

How Do I Get the Maximum Rates?

Nexo provides an excellent shortcut for all of our clients who wish to instantly get the highest Earn rates available. Set up your NEAR with a Fixed Term and elect to receive your payout in NEXO Tokens. This guarantees you enjoy better rates than Silver, Gold and Platinum tiers. Your NEAR will be idling, but your crypto holdings won’t be!

Take Advantage of NEAR without Selling

Should you feel the need for some additional liquidity, you can freely turn to your NEAR and use it for Nexo’s Instant Crypto Credit Lines™. Borrow cash or stablecoins against NEAR, while still keeping it yours. Here are the benefits of borrowing against your NEAR tokens:

Interest rates starting from 0% when borrowing with an LTV of under 20%.
A permitted LTV of 33% for NEAR
A minimum borrowing amount of just $50
No credit checks
No monthly repayments
No origination fees
Instantly settles in your account – from application to approval in seconds

The full details on Nexo’s Loyalty tiers and Instant Crypto Credit Line interest rates can be found here. Gold and Platinum clients enjoy an LTV of under 20% and qualify for low-cost and 0% rates. Learn more about them here.

Boost NEAR!
Leverage your buying power up to 3x with the Nexo Booster and get the maximum out of your NEAR! Boost any asset you wish to get more of it or another cryptocurrency you want.

Nexo stays on top of all digital asset developments and trends, in order to bring the hottest cryptocurrencies for you to explore and utilize with our complete product suite. Visit the blog regularly to learn all about new additions on Nexo!

About Near Protocol

NEAR is the utility token of the Near Protocol, a layer 1 blockchain. Near Protocol’s essence is of a decentralized applications (dApps) platform, capable of smart contract execution with a Proof-of-Stake consensus mechanism. Its distinguishing features lay in how Near Protocol handles scalability issues, namely by implementing sharding.

Effectively, Near manages to break down transactions in data bits, which allows it to process up to 100,000 transactions per second. The founders at the Near Collective, have created Near’s blockchain to be developer- and user-friendly. Its features position it as a viable alternative to Ethereum, while at the same time providing bridging and interoperability, thanks to its integration with the Aurora Network.