Nexo

[TiedInsurer]

https://nexo.io/

Promises guaranteed (until it isn't) 8% interest per annum, on the fiat EUR,USD and GBP that you park with them. Also pays out guaranteed(until it isn't) 5% interest on your crypto holdings. Interest to be paid out in kind, or in their native crypto tokens. I've taken the plunge.

Been in operation for a few years and hasn't imploded on itself yet. Seems to have similar business model to the more well-known MCO, who doesn't seem to be accepting SG customers at the moment.

Risks:
1. No SG presence. If this is a ponzi scheme, i'm ****ed.
2. Possibility that they get hacked and lose everything i have.
3. Possibility that their business model doesn't hold up in the long run and they will collapse, and wipe out all my holdings with them.

Do your own DD.

 

[prosindragon]

Might also want to look at other Cefi lending platforms - BlockFi and Celsius in particular. Spread your risk around so that in case one of them collapses, you don't lose all your funds.

I have the most confidence in BlockFi, regulated in NYC, with massive institutional funding of over >$100m from traditional VCs and not your typical crypto ICOs.

Also remember to fully utilise and stack your promo codes & referral codes for extra bonus haha

 

[TiedInsurer]

Might also want to look at other Cefi lending platforms - BlockFi and Celsius in particular. Spread your risk around so that in case one of them collapses, you don't lose all your funds.

I have the most confidence in BlockFi, regulated in NYC, with massive institutional funding of over >$100m from traditional VCs and not your typical crypto ICOs.

Also remember to fully utilise and stack your promo codes & referral codes for extra bonus haha

Hmm good idea. Don't put all eggs in one risky basket. Better to put in 3 risky baskets haha.

 

[assiak71]

Go for defi instead

 

[briny999]

Hi TS. Are you investing in USDT or USDC for stablecoins?

Hi assiak71, DeFi like AAVE or? Do you mind elaborating thank you!

 

[TiedInsurer]

Go for defi instead

Isn't nexo considered a form of defi?

Hi TS. Are you investing in USDT or USDC for stablecoins?

Hi assiak71, DeFi like AAVE or? Do you mind elaborating thank you!

None. I don't like stablecoins. I can't see the value proposition of holding stablecoins as an investment, over good old fiat.

 

[briny999]

So you are investing in Nexo for Crypto or fiat? And did you purchase NEXO tokens to get a higher rate?

For fiat, what are your thoughts about the devaluation or depreciation against the SGD? Would the 8-10% be enough for you to cover FX risk, conversion fees back to SGD, credit risk etc

 

[Xueren099]

Can another one share what is the cheapest or best way to buy Nexo token in Singapore?
Was thinking if i should transfer USD to nexo account to buy nexo coi