The Nexo Exchange is home to many promising cryptocurrencies. During the past year, we’ve made it easy for you to invest in the hot Layer 1, DeFi, and NFT tokens and borrow or spend against them with the Nexo Card. Today, the selection of exchange tokens gets a boost — you can now welcome FTT and HT to Nexo! Both tokens serve as the backbone of their respective ecosystems, FTX and Huobi Global.
- Buy: Buy FTT or HT with a card and get up to 0.5% in rewards back.
- Тop Up: Top up or withdraw ERC-20 FTT and HT through the Ethereum network.
- Exchange: Swap FFT or HT on the Nexo Exchange and get up to 0.5% in rewards.
- Borrow: Borrow against your newly acquired tokens at rates starting from 0% APR.
- Spend: Spend the value of your exchange tokens without selling with the Nexo Card and get up to 2% back in rewards, on every purchase.
- Boost: Get up to 3x more FTT or HT by using your portfolio’s value as collateral.
What Are Exchange Tokens?
Exchange tokens are cryptocurrencies issued by centralized exchanges that usually offer perks within their native ecosystems. Since centralized exchanges are most often the places where investors make their first crypto purchases, exchange tokens are quickly introduced to beginners. Due to their popularity, such cryptocurrencies often find a place in the top 50 coins with the highest market capitalization.
FTX’s FTT and Huobi Global’s HT join Binance’s BNB and our own native NEXO Token as the exchange tokens on Nexo. Such listings help boost the liquidity and accessibility of the assets, thus making it easy to invest in them.
Diversification Through Exchange Tokens
Picking different crypto types is similar to picking different asset classes in the traditional markets. If you’ve allocated different portions of your capital to stocks, bonds, and commodities, why not apply the same principle to your crypto investments? This is by no means finance advice, but a portfolio of Layer 1’s, metaverse, and exchange tokens is better hedged against risk than a portfolio of small-cap gaming tokens only. Even though there’s risk involved when investing in any crypto, popular exchange tokens are considered more trustworthy, because of their issuers’ licenses and regulatory compliance.
Exchange tokens are also hard to beat in terms of utility. They can be used to get a reduction on trading fees, different staking rewards, or discounts on withdrawal or deposit fees. To illustrate how an exchange token can give value to its holders, let’s take the NEXO Token for example. Holding our native token in your wallet can earn you up to 50% higher interest on some of the other coins you hold. It also gives you up to five free withdrawals each month and earns you our highest rewards when purchasing or swapping on our exchange and when spending with the Nexo Card.
Buy or Exchange FTT and HT on Nexo
Adding the exchange tokens to your Nexo account comes with crypto rewards. After you complete your registration, the easiest way to buy FTT or HT is with a credit or debit card. Each transaction earns you up to 0.5% in crypto rewards back and takes seconds to complete.
If you prefer, you can top up USD, EUR, or GBP via bank transfer and exchange your fiat for FTT or HT. Every swap on our Exchange earns you up to 0.5% in crypto rewards and the pairs for FTT are the following.
The HT pairs on the Nexo Exchange are:
Borrow Against Your Crypto to Buy FTT and HT
Using existing funds to acquire new tokens is not the only option on Nexo. You can utilize our Instant Crypto Credit Lines to borrow against your existing assets at just 0% APR and use the cash or stablecoins to invest in FTT or HT tokens. If you want to do it faster the Nexo Booster makes a borrow and exchange transaction for you, while allowing you to buy three times more crypto. This acquisition is also financed through an Instant Crypto Credit Line.
Spend Against Your FTT or HT with the Nexo Card
The Nexo Card is all about keeping your FTT and HT while giving you purchasing power against it. You use your tokens as collateral and receive funding for your everyday purchases. Upon purchase, you get up to 2% in crypto rewards which are added to your wallet. Purchases made with the card are financed by a crypto-backed credit line starting at 0%. With the Nexo Card, you spend at will and repay whenever you decide. There are no hidden fees.
The Nexo Card helps you optimize your taxes as your crypto is never sold. Instead, it’s used as security for repayment.
About FTX (FTT)
FTX is a cryptocurrency derivatives exchange founded in 2019 by Sam Bankman-Fried and Gary Wang. FTT is the ERC-20 token of the ecosystem and similar to the NEXO Token, can be traded on the largest exchanges. The amount of burned FTT on a weekly basis is directly tied to the value of the fees and to the net additions to FTX’s insurance fund. The NEXO Token has been live on FTX since December 2021.
About Huobi Global (HT)
Huobi Group is a cryptocurrency exchange founded in 2013 in China. HT is the native Ethereum-based decentralized digital asset of the ecosystem. The token has a limited total supply of 500 million. Huobi allocates 20% of its revenue to burning HT, thus removing from its supply and potentially appreciating its value. The NEXO Token has been listed on Huobi since September 2020.