Fortune Favors the Hodlers: The Ultimate Buy & HODL Crypto Challenge

mar 176 min read
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Fortune Favors the Hodlers: The Ultimate Buy & HODL Crypto Challenge

Get Crypto. Hold in Account. Collect Prize. No Tricks, Just Treats.

We’re excited to announce Nexo’s Buy & HODL Crypto Challenge – a rewards pilot available to both new and existing Nexo clients. Here’s how it works and what’s in it for you!

Buy & HODL Crypto Challenge Rules:

  1. Buy or top up at least $5,000 in SOL, ADA, MATIC, BNB, DOT, or AVAX.*
  2. Hold the assets in your secure Nexo account for 90 days.
  3. Get a reward of up to $1,500 in NEXO Tokens!

P.S. Yes, of course you’ll be earning up to 16% APR on these assets in the meantime.

*Top-ups are available for DOT, MATIC, ADA, and BNB.

Nexo’s Buy & HODL Crypto Challenge is created to attract and reward HODLers – those long-term crypto believers who see the bigger picture and the upside potential of the most promising cryptocurrencies out there. The challenge starts on March 17 and will have two stages.

Buy & Top Up Stage: March 17 – April 17

You have an entire month to accumulate as much crypto as you want – either by buying it directly with card on the Nexo Exchange or by topping up from any external wallet. Use this period wisely and don’t forget – the highest bonuses come to those who stack. The Buy & HODL Crypto Challenge comes with different reward tiers. Needless to say, the more, the merrier applies fully here, but we’d like you to have choice:

  • Buy $5,000 worth of crypto & receive $150 extra in NEXO
  • Buy $10,000 worth of crypto & receive $250 extra in NEXO
  • Buy $25,000 worth of crypto & receive $600 extra in NEXO
  • Buy $100,000 worth of crypto & receive $1,500 extra in NEXO

You’re free to enter the Buy & HODL Crypto Challenge with as many of the qualifying cryptos as you wish as long as you add at least $5,000 worth of each participating currency. Keep in mind that you can’t stack multiple cryptos to reach a given tier – i.e., you can’t buy $8,000 worth of SOL and $2,000 worth of DOT to be eligible for the $10,000 tier. However, you will be allowed to stack the same asset multiple times – if you initially buy $8,000 in SOL and then top up $2,000 in SOL, you will be eligible for the $10,000 tier, as long as it is during the Buy & Top Up Stage. So keep adding assets daily to get the highest possible reward.

We encourage you to buy with card on the Nexo Exchange during this period to accumulate more of the participating cryptocurrencies and end up with a higher prize. Note that you get up to 0.5% back for every crypto purchase you make, depending on your Loyalty level which also counts towards your balance.

HODL Stage: April 17 – July 17

Hold on for dear life. Or at least for three months. Once you have those cryptos in your account, keep them there for 90 days to receive your prize. There is one simple rule – make sure that at the end of the period you have the same, or a higher, in-kind amount of crypto you started with. For instance, if you bought 300 SOL on March 18 and topped up another 5,000 DOT on April 5, to qualify for the challenge you will need the same or a higher in-kind amount of SOL and DOT on July 17, regardless of the price movements of either asset. This way, we make sure that volatility doesn’t get in the way of your prize.

Make sure you HODL the same or a higher SOL, ADA, MATIC, BNB, DOT, and AVAX balance you had on April 17 and finish the 90-day holding period ending on July 17 with the same – or a higher – in-kind amount of crypto.

Earn While HODLing

Didn’t think it gets better than $1,500, right? Well, it does. While your assets sit comfortably in your Nexo account, they will also earn you sweet passive income. Our market-leading maximum rates are as follows:

  • Binance (BNB) – 8%
  • Cardano (ADA) – 8%
  • Solana (SOL) – 8%
  • Avalanche (AVAX) – 12%
  • Polkadot (DOT) – 15%
  • Polygon (MATIC) – 16%

It doesn’t get easier than this and nobody pays you this much for this little effort.

How to Buy & Top Up?

So, how do you get to that coveted $1,500 bonus? There are two ways and you can take advantage of both. Buy SOL, ADA, MATIC, BNB, DOT, and AVAX instantly with your credit or debit card through the Nexo Exchange. Did we mention there’s up to 0.5% in crypto rewards for every purchase you make?

Now let’s talk about top-ups. Have any DOT, MATIC, ADA, and BNB scattered across various wallets? We think now is the perfect time to bring them all under one roof – Nexo. This way, you’re increasing your prize and earning top rates in the process. It’s a win-win. If you think HODLing is not an investment strategy, think again. Buy, HODL, earn, repeat.

Please take the time to review the rules of the Buy & HODL Crypto Challenge, so you secure your reward at the end of the 90-day period. Buy & HODL Crypto Challenge Rules:

  1. Buy with Card/Wire transfer or top up your account with selected Buy & HODL Crypto Challenge cryptos, i.e. SOL, ADA, MATIC, BNB, DOT, and AVAX.
  2. Hold the acquired crypto in your account for 90 days. Make sure your in-kind balance – not the US-dominated value – at the end of the challenge is the same, or higher, as it was at the start of it.
  3. Get up to $1,500 in NEXO Tokens in your account after the 90-day Buy & HODL Crypto Challenge period.

Note: To qualify, you must buy or top up fresh funds that have not been deposited into your Nexo account before. Withdrawing previous balances from your account and topping up the funds back is not considered fresh funds. Topping up from another Nexo account is also not allowed. Your account balance at the end of the challenge (read: July 17, 2022) must equal the same in-kind amount of selected cryptocurrencies (SOL, ADA, MATIC, BNB, DOT, and AVAX) you entered the challenge with in order to qualify for the bonus payout. Once you are compliant with the mentioned rules, the bonus will be credited to your Nexo account 14 days after the Buy & HODL Crypto Challenge ends.

Disclaimer: The Buy & HODL Crypto Challenge is not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as Bulgaria, Estonia, and the USA.

Terms & Conditions:

Buy & HODL Crypto Challenge (“the Promo”) is available for new and existing Nexo users and meet all of the Promo’s conditions (“the Participants”). The Promo shall be conducted within the period from 00:00 (UTC) on 17.03.2022 until 00:00 (UTC) on 17.07.2022 (“the Promo Period”). Nexo shall pay Buy & HODL Crypto Challenge Bonus (“the Bonus”), payable in NEXO, to all Participants, when the following conditions shall be met:

The Participant has an active Nexo Account and has completed Identity Verification on the Nexo Platform.

Тhe Participant has topped up or bought with card or bank transfer at least $5 000 in either SOL, ADA, MATIC, BNB, DOT, and AVAX (“Digital Assets”) the USD equivalent of which up to the topping-up time is at least $5 000 or higher tier into their Nexo Account within the depositing stage of the Promo from 17.03.2022 until 17.04.2022, 00:00 (UTC),(“Deposit Period”) and hold the Digital Assets for a period of 90 (ninety) days as of the topping-up (“the Retention Period”) meeting one of the following four tiers (“the Required Balance”):

Tier 1 - $5,000 - Reward $150

Tier 2- $10,000 - Reward $250

Tier 3 - $25,000 - Reward $600

Tier 4 - $100,000 - Reward $1500

1.The Required Balance should be sent into the Participant’s Nexo Account only from an external wallet; Participants who received internal transfers from other Nexo wallets will not be eligible for participation in the Promo. Participants who withdrew amounts available in their Nexo Account before the launch of the Promo to an external wallet and topped-up them back as new assets will not be eligible to receive the Bonus.

2.The Bonus will be defined by the USD equivalent of the in-kind balance, captured on the first day following the Deposit period, which amount should be kept during the Retention period.

3.The Participant complies with the present Rules, and the terms and conditions of the Nexo Wallet General Terms and Conditions and Nexo Earn Product General Terms and Conditions (together referred as to “General Terms”).

Nexo shall pay Buy & HODL Crypto Challenge Bonus in NEXO, the USD equivalent of which up to the transfer time amounts to the bonus specified in the relevant tier.

All Bonuses will be paid to the eligible Nexo Accounts within 15 (fifteen) days following the Retention Period. Requests for cash substitution, as well as requests for transfer or assignment of bonus to third parties, shall not be allowed nor considered by Nexo.

Nexo has the right to maintain the integrity of the Promo and in any event of fraud or fraud attempt, at its sole discretion, to revoke, deny or withdraw the bonus, to block user’s access to particular products, and/or exclude a user from any future promotional offers.

By participating in the Promo, every Participant declares their full and unconditional consent to the above requirements and the General Terms and accepts as final and binding all Nexo’s decisions with regard to the Promo. All relations between Nexo and the participants will be governed by the General Terms and the applicable law, as defined by the General Terms.

*** Nexo Earn Product and Buy & HODL Crypto Challenge are not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as Bulgaria, Estonia, and the USA.

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