Is 8% per year, wouldn't it be more beneficial for you to buy bitcoin and Hold for a year?
If you buy bitcoin, the bitcoin is in your wallet, where you will have full control, and you will still benefit if the price increases too much. I don't see reason for you to use this site and risk one day the site close and you lose your coins
I don't know this service...
strange that I saw 233 comments speaking well of this site:
https://www.trustpilot.com/review/nexo.ioI also found another review here:
https://themoneymongers.com/nexo-loan-review/and this excellent comment has not yet had adequate answer:
The answer I try to find is what do they do with the stable coins after you deposit it on their platform to gain interest? It seems to me they have to do something with it. How else can they offer you 6.5% interest on it if they didnt? Bitgo insurance is only valid when the crypto is stored in their cold storage solution. So how can it be in their cold storage solution and do nothing and still produce 6.5% interest? And if they do lend out the stable coins or do something else with it how can it still be insured?
I asked this at the customer support but they cant seem to answer this question when I asked them directly. In their white paper, it seems as they use the deposits for interest gains to lend out to the borrowers again but customer service wasnt able to confirm that either so Im hoping to find an answer to this.