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JstLikeMagyk

Nexo pays it's token holders over 24million dollars in dividends.

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https://cointelegraph.com/news/crypto-lender-nexo-pays-token-holders-over-24-million-in-dividends

As noted in the press release, Nexo unveiled a MasterCard-branded credit card for crypto on Aug. 2. In its announcement, Nexo claimed its Nexo Card was the first in the world to let users pay in cryptocurrency without actually spending it. Nexo elaborated:

“When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan.”

 

This is actually so fucking cool, so they've been approved by mastercard to give out credit lines based on peoples crypto holdings if people are using their service. I'm pretty excited to give it a try to be honest. what do you guys think?

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8 hours ago, JstLikeMagyk said:

https://cointelegraph.com/news/crypto-lender-nexo-pays-token-holders-over-24-million-in-dividends

As noted in the press release, Nexo unveiled a MasterCard-branded credit card for crypto on Aug. 2. In its announcement, Nexo claimed its Nexo Card was the first in the world to let users pay in cryptocurrency without actually spending it. Nexo elaborated:

“When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan.”

 

This is actually so fucking cool, so they've been approved by mastercard to give out credit lines based on peoples crypto holdings if people are using their service. I'm pretty excited to give it a try to be honest. what do you guys think?

That definitely sounds like something would be interested in.  Thank for posting this as I have not yet heard of this one, will definitely check it out.

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Although this seems like a good "partnership" Nexo is nothing different from what banks have been doing all this while. Their platform is for people to deposit their coins and get crypto backed loans using their own funds as collateral. Investors are getting a dividend true, but is this not what every other bank does? You are giving your money to their organization and who knows when they are going to run away or shut down?

Just recently I saw nexybit exchange stop their dividend system and turned their back on investors and they have nothing to go after. In other words, I would not trust any third party organization to keep hold of my money just for the sake of monthly dividends.

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9 minutes ago, UltraChief said:

Although this seems like a good "partnership" Nexo is nothing different from what banks have been doing all this while. Their platform is for people to deposit their coins and get crypto backed loans using their own funds as collateral. Investors are getting a dividend true, but is this not what every other bank does? You are giving your money to their organization and who knows when they are going to run away or shut down?

Just recently I saw nexybit exchange stop their dividend system and turned their back on investors and they have nothing to go after. In other words, I would not trust any third party organization to keep hold of my money just for the sake of monthly dividends.

That is a very good point.  It could end up just being a way to get the customers to deposit their funds as collateral and once they reach a target, they run like crazy.

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