Learn how to earn crypto money on Nexo lending platform. Also, a practical example of earning passive income by depositing USDT.
In the ever-evolving landscape of cryptocurrencies, Nexo stands out as a platform that goes beyond the traditional exchange model. With a history dating back to 2018, Nexo has managed to capture the attention of over 5 million users in more than 200 countries.
Moreover, Nexo offers innovative features and services, offering crypto enthusiasts exciting opportunities to earn, borrow, trade, and stake their digital assets.
By continue reading this guide you will get all the answers you are looking for according to the Nexo platform:
- How to earn crypto money on Nexo
- The Nexo Loyalty Levels explained
- A practical example of how to reach Platinum with USDT funds
Pay attention: The information provided in this guide is meant to be for educational purposes only. Investing in cryptocurrency involves risk, and it’s essential to conduct thorough research, exercise caution, and make informed decisions.
The Nexo Platform Explained
Nexo’s allure lies in its ability to provide more than just a crypto exchange. Their Nexo Earn product allows users to earn attractive yields on their crypto holdings, while their crypto loans enable individuals to access funds by using their digital assets as collateral. The Nexo Card, powered by Mastercard, allows users to spend their crypto effortlessly and earn rewards in the process.
In short, below are the potential earnings for holding assets on Nexo:
- Earn 7% APY on Bitcoin deposits
- You get a loan instantly / with no credit line checks
- Get a loan up to $2000000 a day
- Built-in exchange(swap BTC for stablecoins)
- Earn 15 % APY on stablecoins
Earning Crypto Money With Stablecoins on Nexo
One of the attractive features of Nexo is the ability to earn crypto money with stablecoins, providing a stable and reliable option for passive income. Moreover, Nexo offers competitive interest rates on stablecoins, with the potential to earn up to 15% APY (Annual Percentage Yield).
However, to achieve 15% APY you have to become a Platinum member on the Nexo platform. In other words, the Nexo platform uses different loyalty levels(Base, Silver, Gold, and Platinum), and based on each level you can earn additional interest.
Nexo Loyalty Levels Explained
Again, The loyalty program consists of four tiers: Base, Silver, Gold, and Platinum. To reach higher tiers and unlock better rates, users can hold a certain percentage of Nexo tokens in their portfolio.
As a Platinum member, you can enjoy an impressive 15% interest rate on stablecoins, providing an excellent opportunity to grow your crypto holdings steadily.
Here’s a table summarizing the loyalty levels on Nexo:
|Loyalty Level||Nexo Token Requirement||Benefits|
|Base||–||4% interest on Bitcoin, 8% interest on Stablecoins|
|Silver||1 – 5% Nexo tokens||4.25% interest on Bitcoin, 8.25% interest on Stablecoins|
|Gold||5 – 10% Nexo tokens||4.5% interest on Bitcoin, 9% interest on Stablecoins|
|Platinum||10% or more of portfolio in Nexo tokens||5% interest on Bitcoin, 15% interest on stablecoins, 0.5% cashback on exchange, lower interest rates on borrowing|
What Does Earning Crypto Money on Nexo Mean?
Earning crypto money on Nexo comes with several exciting benefits, and one of the standout features is the possibility of daily interest payouts. Unlike traditional financial platforms that typically pay interest on a monthly or quarterly basis, Nexo pays out interest to its users every single day. This daily payout system brings numerous advantages to crypto investors looking to maximize their earnings.
First and foremost, receiving daily interest payouts means that your crypto assets start working for you immediately. As soon as you deposit your funds into your Nexo account, you begin earning interest right away. This is especially beneficial for those seeking passive income streams, as it allows for a consistent flow of earnings without having to wait for extended periods.
Furthermore, Nexo’s daily interest payouts create a compounding effect. As your interest is paid out daily, the accumulated interest is reinvested automatically, generating even more interest. This compounding effect can significantly boost your earnings over time, enabling your crypto money to grow at an accelerated rate.
In addition to compounding, the daily interest payouts provide greater flexibility and liquidity. Unlike fixed-term investments where your funds are locked for a specific period, Nexo allows you to access your earnings daily. This means you can reinvest or withdraw your profits whenever you need it. Additionally, it gives you the freedom to manage your funds according to your financial goals and circumstances.
Overall, earning crypto money on Nexo with the possibility of daily interest payouts offers a unique advantage in the crypto space. It provides a consistent and compounding income stream, enhances liquidity, and allows for greater control over your earnings.
Steps To Earn 16% APY with USDT on Nexo
At this point, it is time for a practical example. Moreover, Nexo offers the highest returns by holding stablecoins like USDT on the platform. In the following steps, I’m going to explain how to achieve the Platinum Level to be able to earn 16% on USDT.
Step 1: Fund your Account
You can easily transfer new crypto assets to the Nexo platform by using the Top Up feature. For example, to deposit USDT to Nexo follow these steps:
- At the Nexo website, go to the Dasboard page
- Scroll down the assets below, until you find USDT
- Next, click the Transfer button and select the Top Up option
- Select the network you want to use for the USDT transfer
- Finally, copy the USDT deposit address to your clipboard
Ultimately, you must go to the external platform to start a crypto withdrawal. Additionally, ensure the withdrawal network matches the top-up network you previously chose on the Nexo platform(In this example Polygon). Paste your copied Nexo wallet address into the ‘Send to’ / ‘Withdrawal Address’ / ‘Destination’ field and authorize the transaction.
All in all, the USDT deposit will be reflected in your Nexo account as soon as it reaches the required number of blockchain confirmations.
Step 2: Deposit or Buy NEXO Tokens
Next, to be able to achieve the Platinum level, you must have at least 10% of your crypto deposits in NEXO tokens. For example, if you deposited $1000 USDT to the platform you should hold at least $100 in NEXO tokens.
In addition, if you don’t know exactly how many NEXO tokens you need you can check them at the Loyalty Level board(Click on Loyalty Level on the upper right):
How to acquire these NEXO tokens? The quickest way is to use the built-in exchange feature of the NEXO platform. Below are the steps to buy USDT for NEXO on the exchange:
- At the Nexo website, find the Exchange page in the upper menu(click on it)
- Choose the first option Convert
- First, choose your wallet that has the crypto funds(Saving Wallet or Credit Line Wallet)
- Find the crypto you want to swap for NEXO(E.g USDT)
- Finally, click on Preview Exchange and finish the transaction
Alternatively, you can use an external platform to deposit the NEXO tokens. You can repeat the steps when funding your account(See Step 1), however, this time you should top up NEXO tokens.
Overall, The Nexo Exchange is an anything-to-anything crypto exchange where you can swap seamlessly between almost any two supported cryptocurrencies. Additionally, swapping crypto on the exchange also can be done for zero fees.
Step 3: Set the Terms
Finally, when you did everything right the Nexo platform will automatically adjust your Loyalty Level to Platinum. All you have to do now is to go to your USDT wallet and set the terms.
- At the Nexo website, go to the Dasboard page
- Scroll down the assets below, until you find USDT
- Click on ‘Earning up to 16%‘
- Choose the Fixed Terms to get 16% interest
- Take note that you must hold for at least 3 months
That’s all, at this point, you will receive additional crypto money over your USDT holdings.
Conclusion: How to Earn Crypto Money on Nexo
Is it hard to start earning passive income on Nexo? The resounding answer is no. Nexo provides a user-friendly platform that makes it easy for individuals to begin earning crypto money and enjoy the benefits of passive income. With straightforward processes for funding your account and depositing crypto, Nexo simplifies the onboarding experience.
Additionally, the platform’s competitive interest rates, daily interest payouts, and the ability to earn on stablecoins make it an attractive option for crypto investors seeking passive income opportunities. Whether you are a novice or an experienced investor, Nexo offers a secure and accessible way to grow your wealth in the crypto space.
Finally, by leveraging their loyalty program and exploring the various features Nexo has to offer, you can take full advantage of the earning potential and maximize your crypto money. Start your journey to earning passive income on Nexo and unlock the possibilities that the platform holds for your financial goals.
FAQ – Earn Crypto Money with Nexo
How Much Interest Can I Earn on Nexo?
Nexo interest rates range from 4% up to 16%. For instance, on Bitcoin deposits you earn the default 4%, however, if you upgrade you can up to 7%. Nexo Card: Earn up to 2% back and access the value in your crypto without selling with the Mastercard Nexo card.
What Payment Methods Are Available on Nexo?
To add funds to the platform, users have the following options: Bank transfers, credit or debit cards, Apple or Google Pay, and cryptocurrency deposits. Take note that bank transfers can last up to 5 business days, whereas the other options are instant.
How Do I Send Money From MetaMask to Nexo?
Crypto deposits from your MetaMask wallet are possible on the Nexo platform. It works similarly to regular deposits where you choose ‘Top Up’ for new deposits. Next, you can choose the ‘Top Up from MetaMask’ to be able to connect the MetaMask wallet to the Nexo platform.
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