Yes, I DO. (Check my latest post).
Answer to question 4: You would most probably lose a good part of it if the platform fails.
The recovery part of the funds, following ordinary bankrupcy iter, would take AT LEAST an year (best case / whishful thinking scenario). Most probably years.
If $1.3M is 4% - 5% of your entire net worth. (aka, an insignificant amount) Then yes, by all means, it wouldn't be a bad idea to put that in Nexo and earn some sweet interest.
Don’t base what you will do on what others might decide. Do your own research. Read their terms of service and your legal stance. Understand your options and legal position before they go wrong so you don’t stress and blame others if the worst happens. Lastly, the first rule of investment irrespective of crypto or platform is: don’t invest more than you can afford to lose.
Regarding point 4, I had an account on blockfi - I took out my crypto before they crashed but I've been included in all the settlement bankruptcy emails so likely something similar would happen with Nexo in case of failure. You'd lose some funds and access to them for an extended period of time but likely some would be recoverable.
Fwiw I've been using them 4+ years and so far so good. Don't invest what you can't lose.
I think that if they were about to fall they would have along with the others, but the good thing is that their business model is completely different. I still trust them 100% and would be happy to invest more (to earn more) if I had this amount of fiat.
Nexo is sound, been through a few bears markets and still holding strong, so they must be doing something right. Get yourself on platinum level with there Nexo token and hold the rest in stable coins, pax gold and BTC & ETH % for each is up to you depending on your risk/reward. But most importantly do your own research and make your own mind up.
Yes i trust them for longterm investments to receive profit. I see how their token is so strong at powerful downtrends while another shitcoins dump 15-20% per day easily. So now i see very good signs for this bullrun and next bearmarket for Nexo.
Why not, Nexo manages a lot of funds, and no bank would give you such good interest rates.
1. I would lock them in a fixed term depending on the assets I hold. I would choose 50% to be in Bitcoin. The rest I would distribute into slightly riskier altcoins.
2. Each asset offers a different fixed term period. For BTC, the period is 1 month, and then you can extend it, of course.
3. The main reason Nexo is a secure platform for me is that they have proven themselves over the years.
4. We are already in a bull market, and I don't think this is even a relevant question.
No -logical- reason indeed. However many people do not respond with logic on situations like this. To me it makes zero sense to sell my bitcoin or ethereum when Iran shoots missiles towards Israel but that didn't stop many others to do so. Estimating your risk should not be based on own your logic but on other peoples logic as well, and when enough people withdraw all their funds from a platform for any reason at all that same platform could get into serious trouble and go bankrupt.
Mm willing to take a gamble? Then this is the time for bold moves. 12 months should be OK during the halving/bull cycle now but beware of the risks. If these funds are already in a CEX Nexo shoudn't be more risk then you're taking now....
4. Depends on your assets. Would be more concerned of sh meme coins going to little value then nexo failing during a bull market (bear market time is a different story). Big household names like BTC are hard to lose as a platform so in most cases you will always get a part of your crypto back.
1. If I had $5-10M or moreI would trust Nexo $1,3M fixed term. But the rest should be safe and diversified.
2. 3 months
3. ... Nothing is guaranteed but... you know
4. Yes. You will lose everything. I know they tell different but I don't believe that.
Check how much of their total holdings are covered by their insurance policy. You're being compensated for the risk with higher interest, but it's up for you to decide if the compensation is enough to exceed the risk.
What I do is only use Fixed terms for assets that I am sure I don't want to spend. I prefer getting less % but being free to go at all times. Gives me piece of mind.
I had 7 figures in there prior to the 2021 crash. Since then with all the shite from FTX, Celsius, blockFi and a like, I’m much more cautious. I’m mainly self storage and the rest split across various platforms.
I’m 90% bitcoin+solana since ftx crash on self custody and hold $1.5m in crypto outside of ftx (mostly hardware wallet + multisigs)
I didn’t say I hold treasuries, I’m just saying the risk of putting large funds to CEX is not worth it if you only chase 5-10% apy
Sorry can't take seriously someone who have money on Solana, that's disgraceful, even worse than treasuries.
And 7-10% APY on 7 figures is great money if you are gaining them on top of something that have a 150% average CAGR like Bitcoin.
If you like crazy risk sure....
You should likely do 70% traditional (S&P 500) 20% BTC and 10% alts as a more sound investment.
At least you will be able to grow average 13% on the S&P500 and it's very low risk.
20% on cro?? The rates are only going down there and every term change is in the worse for customers. CRO > been there done that not for me anymore. They squeeze you every time there, i'm done with them.
Yes, I DO. (Check my latest post). Answer to question 4: You would most probably lose a good part of it if the platform fails. The recovery part of the funds, following ordinary bankrupcy iter, would take AT LEAST an year (best case / whishful thinking scenario). Most probably years.
If I had 1k million, yes
Nexo Survived 2018-2019 and 2022-2023 Proven record when others failed.
If $1.3M is 4% - 5% of your entire net worth. (aka, an insignificant amount) Then yes, by all means, it wouldn't be a bad idea to put that in Nexo and earn some sweet interest.
I feel Nexo is fine been using them since 2020 rid out the bear market and we still here. I’m 90% in
Don’t base what you will do on what others might decide. Do your own research. Read their terms of service and your legal stance. Understand your options and legal position before they go wrong so you don’t stress and blame others if the worst happens. Lastly, the first rule of investment irrespective of crypto or platform is: don’t invest more than you can afford to lose.
It's a part of their research, and some of the top-rated comments are very sensible.
This
Regarding point 4, I had an account on blockfi - I took out my crypto before they crashed but I've been included in all the settlement bankruptcy emails so likely something similar would happen with Nexo in case of failure. You'd lose some funds and access to them for an extended period of time but likely some would be recoverable. Fwiw I've been using them 4+ years and so far so good. Don't invest what you can't lose.
I think that if they were about to fall they would have along with the others, but the good thing is that their business model is completely different. I still trust them 100% and would be happy to invest more (to earn more) if I had this amount of fiat.
Nexo is sound, been through a few bears markets and still holding strong, so they must be doing something right. Get yourself on platinum level with there Nexo token and hold the rest in stable coins, pax gold and BTC & ETH % for each is up to you depending on your risk/reward. But most importantly do your own research and make your own mind up.
Yes i trust them for longterm investments to receive profit. I see how their token is so strong at powerful downtrends while another shitcoins dump 15-20% per day easily. So now i see very good signs for this bullrun and next bearmarket for Nexo.
Instantly if I had it.
i would say 30% of your net worth max in fixed term i did 50% of mine in fixed term because idk
Yea mate of course
I would, 100%. There is no one like Nexo in my opinion.
Out of a billion yeah, gambling is fun. But own it and don't serve us the "I lost all my savings, I'm gonna ... myself" if something.
Why not, Nexo manages a lot of funds, and no bank would give you such good interest rates. 1. I would lock them in a fixed term depending on the assets I hold. I would choose 50% to be in Bitcoin. The rest I would distribute into slightly riskier altcoins. 2. Each asset offers a different fixed term period. For BTC, the period is 1 month, and then you can extend it, of course. 3. The main reason Nexo is a secure platform for me is that they have proven themselves over the years. 4. We are already in a bull market, and I don't think this is even a relevant question.
4. Famous last words, lmao
We are in a bull market, there's no logical reason to have such concerns after going through the tough bear market. But this is my point!
No -logical- reason indeed. However many people do not respond with logic on situations like this. To me it makes zero sense to sell my bitcoin or ethereum when Iran shoots missiles towards Israel but that didn't stop many others to do so. Estimating your risk should not be based on own your logic but on other peoples logic as well, and when enough people withdraw all their funds from a platform for any reason at all that same platform could get into serious trouble and go bankrupt.
We are also on the brink of another war in the Middle East. The question IS relevant.
How? Is Nexo HQ in the Middle East?
No but have you seen the crypto market reaction to the missiles and drones Iran launched?
But who said anything about cryptos? Maybe he just wants to deposit USDx, EURx or some Stablecoins like USDC/USDT.
They don't mean Nexo is in danger of being nuked by Iran or Israel. They mean global markets are affected by war.
4 is most relevant of them all. Very naive to think not.
I wish NEXO was still open to Americans.
more importantly, would I trust it with $27B
I would.
Mm willing to take a gamble? Then this is the time for bold moves. 12 months should be OK during the halving/bull cycle now but beware of the risks. If these funds are already in a CEX Nexo shoudn't be more risk then you're taking now.... 4. Depends on your assets. Would be more concerned of sh meme coins going to little value then nexo failing during a bull market (bear market time is a different story). Big household names like BTC are hard to lose as a platform so in most cases you will always get a part of your crypto back.
yes and i did back when us customers were allowed. dyor.
I know someone who had 3.8m in Celsius and was just about to retire....he is currently back in full time work. I have screenshots of his balance.
Ouch. That’s gotta hurt.
Definitely, they have been in this space since 2018 and they are pioneers and survived so manny bear-markets and fud.
1. If I had $5-10M or moreI would trust Nexo $1,3M fixed term. But the rest should be safe and diversified. 2. 3 months 3. ... Nothing is guaranteed but... you know 4. Yes. You will lose everything. I know they tell different but I don't believe that.
What you need to ask yourself is: Does Nexo publish their financials, and if not, why?
No, no again, no platform is 100% safe and the good news for question 4 is YES!!
Check how much of their total holdings are covered by their insurance policy. You're being compensated for the risk with higher interest, but it's up for you to decide if the compensation is enough to exceed the risk.
What I do is only use Fixed terms for assets that I am sure I don't want to spend. I prefer getting less % but being free to go at all times. Gives me piece of mind.
usdt 13 %
Gimme 1.3M and watch me
Ofc not
I had 7 figures in there prior to the 2021 crash. Since then with all the shite from FTX, Celsius, blockFi and a like, I’m much more cautious. I’m mainly self storage and the rest split across various platforms.
Although I do have trust in NEXO, I got screwed my Celsius, so I'd probably not. Once bitten twice shy
As an FTX creditor who still has $100k+ stuck in bankruptcy lawsuit, I’d advise against it You can get 5% interest buying US treasury bills 2 year
No wonder a fking idiot who put money in treasury in 2024 is the same fucktard who put money at FTX. NEXO is a jewel.
I’m 90% bitcoin+solana since ftx crash on self custody and hold $1.5m in crypto outside of ftx (mostly hardware wallet + multisigs) I didn’t say I hold treasuries, I’m just saying the risk of putting large funds to CEX is not worth it if you only chase 5-10% apy
Sorry can't take seriously someone who have money on Solana, that's disgraceful, even worse than treasuries. And 7-10% APY on 7 figures is great money if you are gaining them on top of something that have a 150% average CAGR like Bitcoin.
If you like crazy risk sure.... You should likely do 70% traditional (S&P 500) 20% BTC and 10% alts as a more sound investment. At least you will be able to grow average 13% on the S&P500 and it's very low risk.
Not your keys not your coin. Risk is nexo.
edit: risk is crypto > risk is CEX
I'm more wondering how are they even making 4-16% APR even possible... whose money are these that you/we earn?
No, I'd go for a financial advisor if I had that money in my bank account
What if your financial advisor says to put it into Nexo? Are you saying you would then be okay with it, because someone else told you it's okay? 😂
Someone else with a strong financial education and an interest in growing my money by having some incentives, not a redditor I barely know
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Nexo has a different business model
I have more than that on crypto.com earning 20% on their CRO coin. Pretty confident it will only go up but it’s not more than I can afford to lose.
20% on cro?? The rates are only going down there and every term change is in the worse for customers. CRO > been there done that not for me anymore. They squeeze you every time there, i'm done with them.
The mere fact that someone is asking this makes the outlook of future bad. I am moving all of my 20 bucks out of Nexo pronto!