At Nexo we believe in listening to the community so due to extremely popular demand in our ongoing poll — Litecoin (LTC) is now the newest collateral option for Nexo’s instant credit lines in addition to the existing options of BTC, ETH, XRP, BNB and NEXO.
LTC is the fifth largest cryptocurrency and is amongst the most popular and fastest digital assets that have stood the test of time. Founded in 2011 by Charlie Lee, Litecoin is decentralized and permissionless money, enabling cost-efficient and privacy-focused, borderless payments to anyone, anytime, anywhere.
The cryptocurrency has always focused on expanding the decentralized finance agenda as a means of social inclusion and generating financial freedom — two goals that align the endeavor with the mission of the Nexo enterprise.
Allowing LTC Holders to borrow against their assets rather than sell them when they need access to instant cash adds an incredibly powerful utility feature to LTC. It eases selling pressure and makes the HODLing LTC even easier for the long run. On top of that, Nexo’s instant credit lines are a powerful tool for creating tax-efficiency.
As the world’s most advanced provider of instant credit lines, Nexo’s instant credit lines offer significant advantages:
- Clients funds are secured by leading audited custodian BitGo with $100M insurance for custodial crypto assets
- Minimum amount of $500 and a maximum $2,000,000
- Automated and guaranteed approval with no credit checks
- Interest from 8% per year (APR) only on what you use
- No installments, no minimum loan repayments
- Same/next day free local bank withdrawals
- $300M already processed for 170,000+ Nexo users
- Available worldwide in 200+ jurisdictions
- 40+ fiat currencies (USD, EUR, JPY, etc.)
- No hidden fees, no FX commissions
The huge demand has prompted the team to initiate an “Earn Interest” product which allows investors from 200+ jurisdictions to earn up to 6.5% on their stablecoins — the highest rate offered in the industry.